The Multi-Cloud Management Market is said to be growing rapidly, due to the avoidance of vendor lock-ins, increased agility and automation, and the need for a high-level of governance and policies.
The internal brokerage enablement platform is estimated to have the largest market share. The increasing employee demand within organizations, for having a single point of access to all the cloud services, ranging from externally provided cloud services, such as Software-as-a-Service (SaaS), to internally operated virtualized infrastructure and application services, is expected to result as a driving force for the growth of the internal brokerage enablement platform. The platform is segmented into internal brokerage enablement and external brokerage enablement. The external brokerage enablement platform is expected to have a high growth rate in the next 5 years. The external brokerage enablement platform is expected to grow in the coming years, due to the expanding marketspace for cloud brokers across the world.
The lifecycle management application is expected to have a high growth rate in the next 5 years. This application helps the 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 SaaS services, and reduced Time-to-Market (TTM) solutions.
The reporting and analytics service type is expected to have a high growth rate in the next 5 years. It helps organizations evaluate the daily business activities and operations, and identify the areas of improvement, thereby leading to a better service delivery. Moreover, it offers automated report generation, which enables organizations to gain real-time information anywhere and anytime.
The hybrid cloud is a concept that incorporates the elements of both the public and private cloud. In this deployment model, enterprises use both private and public cloud at the same time. It simultaneously targets the 2 major concerns of scalability and security, which are difficult to attain by only using either the public or the private cloud deployment framework.
The retail and consumer goods vertical is expected to have a high growth rate in the next 5 years. It is one of the fastest-growing verticals, due to the rising consumer purchasing power. By ensuring that the customers are provided with real-time insights, the retailers can maintain a strong relationship with their customers. This is possible only if the retailers have the best cloud services with multi-cloud management solutions and services, for delivering immediate services to the customers, globally.