New York, Sept. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Cloud Management Platform Global Market Report 2022” report – https://www.reportlinker.com/p06319489/?utm_source=GNW
The global cloud management platform market is expected to grow from $11.76 billion in 2021 to $14.63 billion in 2022 at a compound annual growth rate (CAGR) of 24.38%. The cloud management platform market is expected to grow to $33.59 billion by 2026 at a compound annual growth rate (CAGR) of 23.09%.
The cloud management platform market consists of sales of cloud management platforms and related services by entities (organizations, sole traders, and partnerships) that define integrated software management tools used to implement and monitor public, private, and hybrid cloud environments. It combines a set of features or modules that allow management to work in different virtual cloud environments.
The purpose of the platform is to assist IT teams in the security and optimization of cloud infrastructure, including applications and data. It aims to improve cloud settings management, cost and performance optimization, and security enhancement.
The main components of a cloud management platform include IT operations management (ITOM), IT service management (ITSM) and IT automation and configuration management (ITACM). It refers to a software and SaaS solutions that automate configuration, migration, and workload management of physical and virtual systems, apps, and the workloads they serve on-premise and in the cloud.
These components are deployed through private cloud, public cloud and hybrid methods in SMEs and large enterprises. Major verticals using cloud management platforms include BFSI, telecommunications, IT and ITeS, government and public sector, retail and consumer goods, manufacturing, energy and utilities, media and entertainment and healthcare.
North America is the largest region in the cloud management platform market in 2021. The regions covered in the cloud management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The cloud management platform market research report is one of a series of new reports that provide cloud management platform market statistics, including the cloud management platform industry global market size, segments of the region, competitors with cloud management platform market share, detailed cloud management platform market segments, market trends and opportunities, and any additional data you may need to progress in the cloud industry management platform. This cloud management platform market research report delivers a complete view of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing flexibility of cloud computing technology is expected to drive the growth of the cloud management platform. Cloud computing aims to improve internet-based database capabilities and scalability while reducing costs and risks.
Organizations use cloud computing, or remote computers hosted on the Internet, to store, manage, and process important data. These improvements and uses enable the distribution of computing services such as servers, networking, software, analytics, storage, databases, and intelligence over the Internet to provide faster change, more flexible resources, and cost savings.
For example, according to the Flexera 2022 report, State of the Cloud, a survey of 753 respondents on cloud adoption conducted in 2021, the survey indicated an increase in YOY spending on the cloud, with 53% spending $1.2 million in 2022, increased. from 38% in 2021. Therefore, the growing adaptability of cloud computing technology will drive the growth of the cloud management platform market.
The use of multi-cloud management platforms is a major trend in the cloud management platform market. It is a set of services that work together to address issues related to multi-cloud deployment for simplified hybrid IT management.
The multi-cloud management platform includes application identification and dependency mapping, migration planning, capacity optimization, cloud cost control, cloud security automation, higher performance and availability, and intelligent IT service management. These functionalities facilitate the workflow process and reduce the operating cost for the company.
For example, in October 2020, Oracle, a US-based computer software company, launched a multi-cloud observability and management platform. It combines a comprehensive set of management, diagnostic, and analytics services to assist customers in removing the complexity, risk, and cost associated with a fragmented multi-cloud management approach.
In July 2020, Freshworks, a US-based IT services and IT consulting company, acquired Flint for an undisclosed amount. With this acquisition, Freshworks will provide IT teams with greater visibility, enabling them to manage hybrid infrastructure more efficiently, optimize budgets, and automate staff functions. .
Flint is an IT orchestration and cloud management platform company based in Singapore.
The countries covered in the cloud management platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06319489/?utm_source=GNW
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