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PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1138652

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PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1138652

Cloud System Management Software Market - Growth, Trends, and Forecasts (2022 - 2027)

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The Cloud System Management Software Market is expected to register a CAGR of 26.2% over the forecast period from 2022 - 2027. Cloud computing technology is rapidly becoming the norm, with cloud solutions and services growing. Cloud computing has reduced the need for organizations and enterprises to invest in their own physical IT infrastructure. Significant financial savings are among the many factors that compel business organizations to move their applications and operations to the cloud.

Key Highlights

  • Cloud system management software refers to the type of management framework that assists in supervising the operations and automation of the cloud according to the desired direction. Many organizations turned to cloud services with an increased focus on digital transformation, artificial intelligence, and big data analytics. On the other hand, cloud spend is rising as organizations adopt multi-cloud strategies and put more workloads and data in the cloud.
  • The increased adoption of hybrid and multi-cloud architectures that enables building and running with consistency across cloud, on-premises, and edge environments creates the demand for Cloud System Management Market. Cloud has played a fundamental part in digital optimization and transformation initiatives. Businesses invest in structured innovation programs to meet growth goals, respond to market conditions, and execute accelerated digital transformation initiatives. For Instance, IBM developed Red Hat OpenShift, the market-leading hybrid cloud container platform. With Red Hat OpenShift, users can establish and consume cloud services anywhere and from any cloud.
  • As Cloud software became a mainstream component in any business IT environment, it attracted the need to manage and run applications through a SaaS model or manage a cloud architecture with an IaaS or PaaS platform. As soon as the concept of Infrastructure-as-a-Service (IaaS) came up, enterprises resorted to deployments between private and public, multiple public, and numerous private and public clouds. Thus, there was a considerable landscape shift toward monitoring and analytics factors for performance, cost, and configuration over cloud system management adoption. Likewise, vendors in the market studied led to the expansion of portfolios by leveraging strategic collaborations and acquisitions.
  • Vendor lock-in concerns and lack of cloud spend management are two issues that pop up for multi-cloud. Vendor lock-in refers to a situation where the cost of switching to a different vendor is so high that the customer is essentially stuck with the original vendor due to financial pressures, an insufficient workforce, or the need to avoid interruptions to business operations that could restrain the growth of cloud system Management software. Also, the threat of data breaches is always on, which challenges market progress.
  • Enterprise solutions are being adopted by businesses more frequently to use cloud-based apps to reach a small audience. This adoption led to an even more significant change in these organizations' priorities. Additionally, as the need for digital technologies rises, more cloud-based apps are being used than on-premise ones to ensure stable enterprise business operations. COVID-19 has significantly impacted the global market as cost reduction priorities increase and pressure on IT systems and software to deliver more increases. The cloud software segments are therefore looking to SaaS delivery models with proactive and predictive optimization capabilities, improved application performance, and robust cost control as a result of COVID-19.

Key Market Trends

BFSI is Expected to Hold Significant Share

  • As more banks and financial services organizations look to monetize data by predicting customer spending patterns and insights driven by unstructured datasets, the demand for AI, predictive analytics, and big data continues to grow in Banking and Financial services firms to strengthen the business model. As a result, multi-cloud financial management and FinOps built on the cloud are becoming significant drivers of cloud management for systems and services. The present state of data science and machine learning pervasiveness in banking and other financial service offerings attracts the mission-critical development of cloud management.
  • Moreover, the General Data Protection Regulation (GDPR) led BFSI-based organizations to change how they think about data. Being accustomed to stringent regulations, banks, investment funds, insurance companies, and allied businesses have been tasked with managing their data even more closely to avoid fines and reputational loss from failing to comply with the regulations.
  • Likewise, American Fidelity (AF), supplemental insurance products and enrollment benefits provider, has over 1.5 million policyholders across 49 states of America, with more than 2.5 million policies. The company struggled to realize the performance of its critical customer-facing enrollment systems. These enrollments further operate across a hybrid, multi-cloud environment built on a mix of on-premise systems, Azure, and AWS environments. Dynatrace offers multiple monitoring tools to obtain single view-based visibility into its territory and eliminate performance blind spots, significantly improving AF's application performance.
  • The banking and financial organizations can significantly leverage the benefits of on-demand scalable infrastructure services, adequate data and storage management, SDI-enabled private cloud infrastructure in pay-per-use models, AI-driven cloud management, and agile operations solutions that embrace their cloud adoption journey. This way, hybrid cloud adoption can help BFSI end users achieve digital transformation.
  • Further, According to Worldpay's global payment report, mPOS sales are analyzed to grow significantly, as indicated in the graph. Additionally, many developed countries are implementing advanced systems to allow customers to make online payments. The expanding use of smartphones has also contributed to increased cashless transactions. This is analyzed to boost the adoption of the cloud-based system Management software during the forecast period.

Asia-Pacific is Expected to Witness Highest Growth Rate

  • The Asia-Pacific is expected to witness growth owing to the growing spending on IT infrastructure, rise in adoption of cloud-based applications, and increasing demand for automation of processes. A cloud management platform is becoming a basic need for enterprises with multi-cloud deployments, addressed by almost all cloud providers. Multi-cloud has become the norm for most enterprises across the Asia Pacific region. It is expected that 84% of CIOs in the Asia Pacific believe multi-cloud would constitute up to 50% of their hosting environment in the next three years.
  • As more Asia-Pacific enterprises move to the hybrid cloud, many innovative solutions have emerged to help organizations manage cloud applications' lifecycles in a heterogeneous IT environment. Moreover, growing development in the cloud computing industry and government initiatives would positively drive the market's growth over the forecast period. For instance, According to the Development Research Center (DRC) of the State Council, China's Cabinet, the cloud computing industry in the country is expected to exceed CNY 300 billion (USD 42.3 billion) by 2023, over a threefold increase from its 2018 market value of CNY 96.28 billion. During this forecast, over 60% of the country's businesses and government agencies depend on cloud computing as an integral part of their daily operations.
  • NASSCOM has also stated that Business Process Management (BPM) and IT services in India contribute to over 14% and 10% of the global demand and is expected to continue with the consistent growth in the worldwide cloud adoption rate. The government supported the need for growing IT and Infrastructure through various incentive programs. The development of IT services in India will positively drive the market's growth.
  • Furthermore, Covid-19 has accelerated customer demand for digital technologies to ensure resilient enterprise business operations across the region, resulting in cloud-based offerings replacing traditional products. Key verticals such as BFSI, healthcare, and manufacturing sectors are witnessing a surge in demand for cloud-based solutions, owing to remote data storage capabilities and provisioning privileges for hosted applications.
  • The National Association of Software and Service Companies (Nasscom) reports that the Indian IT sector generated USD 227 billion in sales in FY22, representing a 15.5% YoY growth. As stated by IBEF, by 2025, it is anticipated that the Indian software products market will be worth USD 100 billion. Indian enterprises are investing overseas to expand their global footprint and improve their global delivery centers. Therefore, the significant growth in the investments in cloud-based software is analyzed to bolster the demand for the market during the forecast period.

Competitive Landscape

The Cloud System Management Software market is fragmented with players such as IBM Corporation, BMC Software, Inc., VMware, Inc., Cisco Systems, Inc., Microsoft Corporation, and Oracle Corporation. Prominent cloud systems management vendors deliver customized computing solutions and provide innovative and efficient solutions to end-users, driving the market growth. Some of the recent developments in the market are :

  • In September 2022, Wipro Limited, technology services and consulting company, partnered with CISCO to accelerate client cloud transformation. By utilizing Wipro FullStride Cloud Service to allow a completely automated hybrid-cloud stack, Wipro customers will be able to deploy the service more quickly and with a better user experience. This partnership will bring together the edge, private, and public clouds to create adaptable public cloud solutions.
  • In June 2022, Cisco introduced a new class of servers to its unified computing system that is more flexible and outfitted with management software geared to the hybrid cloud. Cisco UCS X-series servers will support blade-and-rack-server features to simplify data centers and come loaded with management software to unify hybrid cloud environments.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Product Code: 70465

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Adoption of Hybrid and Multi - cloud Architectures
    • 4.2.2 Growing Unified Management of Container -based Applications
    • 4.2.3 Preferences for SaaS -based Delivery Model
  • 4.3 Market Challenges
    • 4.3.1 Lack in Cloud Spend Management and Vendor Lock -in Issues in Multi -cloud Architecture
    • 4.3.2 Security and Data Governance Challenges
  • 4.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 Impact of COVID -19 on the Market

5 MARKET SEGMENTATION

  • 5.1 Component
    • 5.1.1 Solution (Operations Management, Application Performance Management, Problem Management, Event and Incident Management)
    • 5.1.2 Service (Managed, Professional)
  • 5.2 Deployment Model
    • 5.2.1 Public Cloud
    • 5.2.2 Private Cloud
    • 5.2.3 Hybrid Cloud
  • 5.3 Enterprise Size
    • 5.3.1 Small and Medium Enterprise
    • 5.3.2 Large Enterprise
  • 5.4 End-user Industry
    • 5.4.1 BFSI
    • 5.4.2 Healthcare and Life Sciences
    • 5.4.3 Retail and Consumer Goods
    • 5.4.4 IT and Telecommunication
    • 5.4.5 Media and Entertainment
    • 5.4.6 Other End-user Industries
  • 5.5 Geography
    • 5.5.1 North America
    • 5.5.2 Europe
    • 5.5.3 Asia Pacific
    • 5.5.4 Latin America
    • 5.5.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share**
  • 6.2 Company Profiles*
    • 6.2.1 BMC Software Inc.
    • 6.2.2 IBM Corporation (Red-Hat)
    • 6.2.3 Vmware Inc.
    • 6.2.4 New Relic Inc.
    • 6.2.5 Splunk Inc.
    • 6.2.6 Microsoft Corporation
    • 6.2.7 Cisco Systems Inc.
    • 6.2.8 Broadcom Inc. (CA Technologies)
    • 6.2.9 Oracle Corporation
    • 6.2.10 Servicenow Inc.
    • 6.2.11 RightScale (Flexera Software LLC )
    • 6.2.12 Amazon Web Services, Inc.
    • 6.2.13 Dynatrace LLC
    • 6.2.14 Datadog, Inc.
    • 6.2.15 Micro Focus International PLC

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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