PUBLISHER: IMARC | PRODUCT CODE: 1722408
PUBLISHER: IMARC | PRODUCT CODE: 1722408
The global multi-cloud management market size reached USD 13.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 94.4 Billion by 2033, exhibiting a growth rate (CAGR) of 23.3% during 2025-2033. The growing requirement for flexible cloud solutions by businesses to manage multiple services efficiently is stimulating the market.
Multi-cloud management allows businesses to monitor, control and secure cloud services, such as metering and policy, access, resource, lifecycle, infrastructure, and identity and access management, offered by different vendors. It relies on various tools and procedures and provides a centralized platform for simplifying and streamlining the management process. Besides this, as it helps minimize the workload on information technology (IT) teams, multi-cloud management solutions are employed in the retail, telecommunications, healthcare, and banking, financial services and insurance (BFSI) industries worldwide.
Multi-cloud management solutions find extensive applications in provisioning, billing, compliance. This, in confluence with the rising focus of businesses on automating several processes and consequently improving the overall efficiency, represents one of the key factors impelling the growth of the market. Besides this, business organizations are increasingly concerned about the vendor lock-in problem in cloud computing, which restrains their movement to a different vendor without substantial costs, legal constraints, or technical incompatibilities. As a result, the demand for multi-cloud management solutions is rising across the globe. Moreover, multi-cloud management solutions lower the possibility of a distributed denial of service (DDoS) attack, wherein the attackers disable access to servers, devices, services, networks, applications, and specific transactions within applications. This, along with the growing DDoS attacks around the world, is strengthening the growth of the market. Apart from this, the increasing availability of cloud services brokerage (CSB) that eases the integration, installation, analytics, reporting, security, risk management, and other services associated with multi-cloud management is driving the market. Furthermore, the rapid expansion of small and medium enterprises (SMEs) globally is projected to fuel the growth of the market in the coming years.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, BMC Software Inc., CenturyLink, Cisco Systems Inc., Citrix Systems Inc., Cloudbolt Software Inc., Dell Inc., Flexera, International Business Machines Corporation, Jamcracker Inc., Micro Focus International plc and Vmware Inc.