Cloud Management Platform Market 2021 Report On Report 2021: Technology, Application, Types, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Analysis 2021-2030

In a recent published report, Kenneth Research has updated the market report for Cloud Management Platform Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cloud Management Platform Market products.

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As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

Market Synopsis

The global cloud management platform market is valued USD 8,182.2 Million in 2018 and is expected to register a CAGR of 18.4% during the forecast period to reach USD 26,767.0 million by 2024.A cloud management platform is a set of integrated software tools that enable enterprises to monitor and control cloud computing resources. This can also be exclusively used for private or public cloud deployment;  most of the solutions are used for hybrid and multi-cloud models to centralize control of various cloud-based infrastructures.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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Some of the factors driving the cloud management platform market growth include the need for businesses to have greater control over the IT spendings, adoption of heterogeneous and multimodal IT service delivery environment, rapid deployment of virtualized workloads, and improved operational efficiency. However, the security concerns and lack of skilled expertise are some of the factors expected to limit the growth of the global cloud management platform market during the assessment period.

Enterprises across the world are dependent on cloud-based solution and services for their daily work processes. The dependence on cloud-based solutions across industry verticals has significantly increased the need for the faster, customized services in accessing various resources from the public cloud infrastructure. This has become a challenge for enterprises to manage security and compliances across cloud and conventional data center infrastructure.

Thus, in order to deliver innovative solutions, enterprises are seeking continuous delivery of a digital service that  coordinates, controls, and secures application and infrastructure services across multiple and hybrid cloud environments. The multiple and hybrid environments are further integrated to critical IT management processes to manage risk and reduce cost. To carry out such processes, enterprises are adopting cloud management platforms that manage hybrid and multi-cloud environments running anything from conventional to container based (cloud-native) workloads.

Competitive Analysis

The vendors operating in the cloud management platform are majorly from the US. The market players primarily follow inorganic growth strategies such as partnerships, agreements, and collaborations to sustain in the market. The privately-held companies are increasingly following collaborations to enhance their product portfolio and increase their customer base.

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Key Players

Some of the key players in the global cloud management platform market include Cisco Systems Inc., (US), VMware, Inc (Dell Technologies) (US), Citrix Systems Inc. (US), HP Enterprise Development LP (US), BMC Software, Inc. (US), Embotics Corporation (US), CloudBolt Software, Inc. (US), RightScale, Inc. (US), HyperGrid™ (US), MORPHEUS DATA, LLC. (US), Scalr, Inc (US), ServiceNow (US), DivvyCloud (US), RackWare (US), Turbonomic Inc,  (US).

Apart from the aforementioned companies, other vendors that operate in the market include Splunk Inc. (US), Dynatrace (US), Amazon Web Services (AWS) (US), Puppet (US), and others.

Segmentation

The global cloud management platform market has been segmented based on component, deployment mode, organization size, and vertical.

Based on the component, the global cloud management platform market has been divided into solution and services. By solution, the cloud management platform market has been categorized as automation and orchestration solution, governance and compliance solution, performance monitoring solution, security solution, and cost management solution. The services segment has further been divided into professional services and managed services. The professional services segment has further been sub-segmented as consulting services, integration services, and other support services.

Based on the size of the organization, the market has been categorized as small and medium enterprises (SMEs), and large enterprises. Additionally, the market is categorized based on deployment mode that includes private cloud, public cloud, and hybrid cloud.

Furthermore, based on vertical, the global cloud management platform market has been divided into IT & telecom, banking, financial services and insurance (BFSI), government and defense, healthcare, energy and utilities, retail and e-commerce, and others.

Regional Analysis

Geographically, the global cloud management platform market has been divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

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North America accounted for the highest market share in cloud management platform market in 2018. Europe attained the second spot in the cloud management platform market in terms of market size in the year 2018 and it is expected to continue to grow significantly during the forecast period. However, Asia-Pacific is expected to be the fastest growing market from 2019 to 2024.

North America dominated the global cloud management platform market in 2018 and is expected to continue to lead the market during the review period. The market growth is attributed to the increased adoption of the hyrbid cloud solutions by enterprises and the presence of market giants such as Cisco Systems, Inc., Microsoft Corporation, and Citrix Systems.

Asia-Pacific is expected to be the fastest growing segment in the cloud management platform market during the review period. The market growth is attributed to the increasing number of adoption of cloud-based services across the verticals and increasing IT skills to develop robust cloud services that allow heavy investments in emerging economies such as China, India, and other Southeast Asian countries.

Industry News

On April 2019, RackWare, Inc. launched a hybrid cloud platform that integrates the entire cloud implementation lifecycle starting from cloud migration process to disaster recovery and backup, to hybrid multi-cloud management.

On February 2019, Trend Forward Capital, the investment arm of Trend Micro partnered with Turbonomic, Inc., to expand its business unit in Asia-Pacific. This partnership helps both the companies to accelerate the adoption of self-managed workloads, from anywhere in real  time and enable their customers to modernize IT infrastructure and accelerate the digital transformation process.

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Intended Audience

Cloud management platform solutions providers

Systems integrators

Virtualization services providers

Local/Government Agencies

Datacenter Services Providers

Cloud Service Providers

IT Providers

Value-added Resellers

Cloud Infrastructure Agencies

Research Firms

Software Vendors

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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