Dublin, April 09, 2018 (GLOBE NEWSWIRE) -- The "Multi-Cloud Management Market by Platform, Application (Metering & Billing, Infrastructure & Resource Management), Service Type (Cloud Automation, Migration & Integration), Deployment Model, Vertical, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The Multi-Cloud Management Market Size is Expected to Grow from USD 1,169.5 Million in 2017 to USD 4,492.7 Million By 2022, at a CAGR of 30.9%

Avoidance of vendor lock-ins, increased agility and automation, and the need for a high-level of governance and policy are expected to be driving the multi-cloud management market

The multi-cloud management market is expected to be driven by factors, such as the need for business agility, faster deployment and scalability, the increasing awareness about cloud among enterprises globally, and the reduced costs of ownership. However, the enterprises face some obstacles due to the application portability on various cloud environments, and its compliance with stringent regulations.

External brokerage enablement platform is expected to have the fastest growth rate during the forecast period

The external brokerage enablement platform usually provides a multi-tenant cloud delivery and management platform to the Telecom Service Providers (TSPs), system integrators, Independent Software Vendors (ISVs), distributors, and cloud providers. The platform works as an interface between cloud brokers for providing seamless aggregation and customization services to the end-users. The external brokerage enablement platform is expected to grow in the coming years, due to the expanding marketspace for cloud brokers across the world.

Lifecycle management application is expected to have the fastest growth rate during the forecast period

The cloud lifecycle management application accelerates innovation through automated resource provisioning, governance, and management of available cloud services. Lifecycle management helps enterprises in managing the lifecycle of cloud-ready products to offer state-of-the-art Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) service, and the reduced Time-to-Market (TTM) solutions. The major factors that are believed to be driving the growth of the overall multi-cloud management market are innovation, efficiency, agility, and security.

North America is expected to hold the largest market share, Asia Pacific (APAC) to grow the fastest

North America is expected to hold the largest market during the forecast period, as organizations are shifting toward cloud-based solutions and services, with the increasing adoption of digital business strategies. Furthermore, the organizations have invested hugely on advanced technologies to gain a competitive advantage and improve the business operations. APAC is said to be the fastest-growing region in the global multi-cloud management market. The key reasons for the high growth rate in APAC include the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of multi-cloud management solutions to drive customer experience and improve the operational issues.

Market Overview And Industry Trends

Regulatory Implications

  • Payment Card Industry Data Security Standard (Pci-Dss)
  • Federal Information Security Management Act (Fisma)
  • International Organization for Standardization/International Electrotechnical Commission 27018 (Iso/Iec 27018)

Innovation Spotlight

Multi-Cloud Management Market Ecosystem: a Business Model Framework

Market Dynamics

Drivers

  • Avoidance of Vendor Lock-Ins
  • Increased Agility And Automation
  • Need for High Level of Governance And Policy

Restraints

  • Application Portability On Various Cloud Environments
  • Compliance With Stringent Regulations

Opportunities

  • Transformation Opportunity for Isvs Into Saas Providers
  • Significant Growth in Hybrid Cloud Adoption
  • High Adoption Rate in Smes

Challenges

  • Complexities in Redesigning the Network for Cloud
  • Lack of Expertise And Management Overheads

Companies Mentioned

  • Accenture
  • Bmc Software
  • Centurylink
  • Citrix
  • Cliqr
  • Cloudmore
  • Cloudyn
  • Dell Technologies
  • Doublehorn
  • IBM
  • Jamcracker
  • Rightscale
  • Sixsq
  • Turbonomic
  • Vmware

For more information about this report visit https://www.researchandmarkets.com/research/3mgrh8/multicloud?w=12

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Related Topics: Cloud Computing and Storage