NEW YORK, July 20, 2022 /PRNewswire/ — According to the market research report published by P&S Intelligence, in 2021, the global integrated cloud management platform market was worth around $2,502.2 million, which is predicted to hit an $8,854.9 million value by 2030, progressing at a 15.1% CAGR from 2021 to 2030. This is owing to the shifting workload to cloud environments and rapid acceptance of multi- and hybrid-cloud strategies. Moreover, the COVID-19 pandemic boosted the market by impelling firms to move to the WFH model from the WFO model, either partly or completely.
Opportunities for Business
Hybrid cloud infrastructure is becoming more widely used, which is allowing businesses to grow. To keep some workload on-premises for data protection, IT businesses are rapidly converting to the hybrid cloud infrastructure.
Operational efficiency can be boosted with the usage of machine learning and AI technologies in integrated AIOps for cloud management; therefore, end users are giving it more attention. This gives startups and established businesses opportunities to deliver integrated cloud management solutions with AIOps technologies.
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Outlook of Segments
- The BFSI sector is the largest vertical to employ integrated cloud management platforms, accounting for over 30% of the revenue, owing to the adoption of hybrid and multi-cloud models by over 90% of the banking and financial service enterprises.
- The second-largest vertical is IT and telecom, since the businesses operating in this industry have a lot of data to handle, both locally and in a cloud environment.
- Given the intense competition they face from major organizations, SMEs are expected to see a higher CAGR in the next years, as a result of their growing use of integrated cloud management platforms.
- Due to the scarcity of human resources, businesses are rapidly automating their cloud environments, which is why the solutions bifurcation accounted for the larger integrated cloud management platform market share in 2021—more than 55%.
- The category of services, which includes support and maintenance, education and training, consultancy, and integration and implementation services, is predicted to boost more rapidly.
Due to the large-sale adoption of the private cloud infrastructure by businesses to manage their networks, the North American market, which accounts for 40% of the global solution and service sales, is the largest regional integrated cloud management platform market.
Browse detailed report on Integrated Cloud Management Platform Market Size, Share, Growth and Demand Forecast Report 2030
Owing to the worries about vendor lock-in and the dependability on a single cloud, as well as the increasing need to comply with data security and privacy safety legislation, the APAC integrated cloud management platform market is predicted to advance at the highest CAGR from 2021 to 2030.
Because of the widespread use of cloud computing by enterprises in the region, Europe has the second-largest share. Additionally, this is credited to the incorporation of state-of-the-art technologies, including edge computing and IoT, in cloud-based applications.
Integrated Cloud Management Platform Market Report Coverage
By Enterprise Size
- Large Enterprises
- IT and Telecom
- Retail and Consumer Goods
- Government and Defense
- Healthcare and Life sciences
- Energy and Utilities
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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