Cloud Management Platform
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How Large Will the Cloud Management Platform Market Size By 2025?
The market size for cloud management platforms have seen a tremendous surge lately. It is projected to rise from a whopping $18.39 billion in 2024 to an impressive $21.28 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.7%. Factors that have fueled this growth during the historical phase include higher acceptance of cloud services, the need for improved security and compliance measures, a surge in investments towards digital transformation, intricacies associated with multi-cloud environments, and an increasing necessity for cost optimization.
How Big Is the Cloud Management Platform Market Size Expected to Grow by 2029?
In the coming years, the market size of the cloud management platform is predicted to experience a substantial expansion, reaching $46.26 billion by 2029 at a compound annual growth rate (CAGR) of 21.4%. The anticipated growth within the forecasting period can be credited to the integration with DevOps methodologies, attention towards cost optimization, the coordination of containers and Kubernetes, in addition to governance and policy automation. The major trends expected in this period involve the initiatives for enterprise digital transformations, deployments of hybrid cloud, the management and coordination of containers, and improvements in user interface and experience.
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Which Key Market Drivers Powering Cloud Management Platform Market Expansion and Growth?
The enhancement of internet-based database capabilities, scalability, and cost-effectiveness brought about by cloud computing is anticipated to promote the expansion of the cloud management platform. Cloud computing, characterized by the use of remote internet-hosted computers, aids organizations in storing, managing, and processing core data, reducing risks in the process. This upgradation and its applications enable distributed computing services like servers, networking, software, analytics, storage, databases, and intelligence to be delivered through the internet, fostering rapid innovation, greater resource flexibility, and cost reduction. For example, the Flexera 2022 State of the Cloud report demonstrates this trend with a survey of 753 respondents on cloud adoption conducted in 2021, indicating a Y-O-Y cloud spending increase with 53% expected to spend $1.2 million in 2022, up from 38% in 2021. Therefore, the expanding adaptability of cloud computing technology is likely to be a driving force for the cloud management platform market growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Cloud Management Platform Market?
In an effort to gain a strategic advantage, key players in the cloud management platforms market are focusing on the development of sophisticated solutions, such as hybrid cloud management platforms. These platforms are tools that facilitate organizations’ management, monitoring, and optimization of resources across both public and private cloud environments from a unified interface. For example, in December 2023, Hitachi Vantara, a subsidiary of the US-based company Hitachi, Ltd., in collaboration with Google Cloud, launched the Hitachi Unified Compute Platform (UCP) for GKE Enterprise. This initiative was intended to support customers on their progressive cloud journeys. Powered by Google Distributed Cloud Virtual (GDCV), the Hitachi UCP for GKE Enterprise provides organizations a cohesive platform to manage hybrid cloud operations, thereby enhancing efficiency, scalability, and flexibility across their infrastructure and applications.
What Are the Emerging Segments in the Cloud Management Platform Market?
The cloud management platform market covered in this report is segmented –
1) By Component: IT Operations Management (ITOM), IT Service Management (ITSM), IT Automation And Configuration Management (ITACM)
2) By Deployment Mode: Private Cloud, Public Cloud, Hybrid
3) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Verticals: BFSI, Telecommunications, IT And ITeS, Government And Public Sector, Retail And Consumer Goods, Manufacturing, Energy And Utilities, Media And Entertainment, Healthcare
Subsegments:
1) By IT Operations Management (ITOM): Monitoring and Analytics, Performance Management, Capacity Planning
2) By IT Service Management (ITSM): Incident Management, Problem Management, Change Management
3) By IT Automation And Configuration Management (ITACM): Automation Tools, Configuration Management Databases (CMDB), Infrastructure As Code (IaC) Tools
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Who Are the Global Leaders in the Cloud Management Platform Market?
Major companies operating in the cloud management platform market include Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., Turbonomic Inc., International Business Machines Corporation, Cisco Systems Inc., Hewlett Packard Enterprise Company, CloudBolt Software Inc., VMware Inc., ServiceNow Inc., NetApp Inc., Citrix Systems Inc., Splunk Inc., BMC Software Inc., Nutanix Inc., Red Hat Inc., New Relic Inc., Rapid7 LLC, Cohesity Inc., Apptio Inc., LogicMonitor Inc., Flexera Software LLC, Flexera Software LLC, OpsRamp Inc., Scality Inc., CloudHealth Technologies Inc., CloudCheckr Inc., ParkMyCloud Inc., Fugue Inc., Zenoss Inc., Stratodesk Corporation
Which are the Top Profitable Regional Markets for the Cloud Management Platform Industry?
North America was the largest region in the cloud management platform market in 2024. The regions covered in the cloud management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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