APAC Multi-Cloud Management Market To Boom
The Asia-Pacific multi-cloud management market is expected to grow at the highest rate, followed by LAMEA, which is expected to second highest CAGR during the forecast period, states Allied Market Research.
Asia-Pacific has unexplored market potential as the region is developing and has high rate of Internet penetration, noted the study.
The global multi-cloud management market was valued at $1,198.4 million in 2016, and is projected to reach $6,816.5 million by 2023, growing at a CAGR of 28.4 percent from 2017 to 2023. The services segment is anticipated to grow at the highest rate during the forecast period, it said.
The hybrid cloud deployment business segment contributed the highest share in 2016. This segment accounted for $450.3 million in 2016 and is projected to grow at the CAGR of 29.1 percent during the forecast period. The multi-cloud management market for public cloud segment is projected to grow at the second highest rate of 28.8 percent.
Infrastructure and resource management segment generated maximum share of revenue in 2016 and is expected to dominate the market throughout the forecast period at the CAGR of 27.1 percent. Among industry verticals, public sector is expected to witness highest CAGR of 32.1 percent during the forecast period, followed by retail.
The report features a competitive scenario of the global multi-cloud management industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are BMC Software, VMWare, IBM, Accenture, CenturyLink, Cisco, Rightscale, Cloudyn, Jamcracker, and Citrix. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the multi-cloud management market.
The software segment accounted for the highest share of the global multi-cloud management industry by component in 2016, growing at a CAGR of 27.8 percent from 2017 to 2023.
The IT & telecom multi-cloud management market by industry vertical generated the highest revenue share in 2016, and is projected to grow at a rate of 22.4 percent. The multi-cloud management market in public sector is expected to witness the highest growth rate during the forecast period, noted the study.
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