Cloud Management Platform Market Scenario:
The global Cloud Management Platform Market is expected to exhibit a strong 18.4% CAGR over the forecast period from 2021 to 2027, according to the latest research report from Market Research Future (MRFR). The global cloud management platform market was valued at USD 8.1 billion in 2020 and is expected to rise to a valuation of more than USD 26.7 billion by 2027, according to the report.
Cloud management platforms comprise a set of integrated software tools that enable enterprises to monitor and control cloud computing resources. The growing usage of cloud resources by major enterprises around the world has been a major driver for the global cloud management platform market. Cloud resources have been used in increasing amounts by enterprises across industrial sectors due to the increasing viability and utility of cloud resources. Cloud resources allow enterprises to store and use data in a secure manner, as well as increasing the overall storage capacity. The increasing generation of digital data in enterprises around the world has led to a growing usage of cloud technology around the world. This has been a major driver for the cloud management platform market over the last few years. The increasing security of cloud protocols has also been a major driver for cloud technology over the last few years, as data security has emerged as a major concern in recent years.
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Management Platform Market. The growth sectors of the Cloud Management Platform Market are identified with precision for a better growth perspective.
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- The global cloud management platform market is segmented on the basis of component, deployment mode, organization size, vertical, and region.
- By component, the global cloud management platform market is segmented into solutions and services.
- By deployment, the global cloud management platform market is segmented into private cloud, public cloud, and hybrid cloud.
- By organization size, the market is segmented into SMEs and large enterprises.
- By end use vertical, the global cloud management platform market is segmented into IT and telecom, BFSI, government and defense, healthcare, energy and utilities, retail and ecommerce, and others.
North America is the major regional market for cloud management platform technology and is likely to retain its dominance over the forecast period. Many of the leading players in the cloud management platform market are located in the U.S., which is likely to remain the leading regional market for cloud management platform technology over the forecast period.
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Leading players in the global cloud management platform market include Puppet, Amazon Web Services (AWS), Dynatrace, Splunk Inc., Turbonomic Inc., RackWare, DivvyCloud, ServiceNow, Scalr Inc., Morpheus Data LLC, HyperGrid, RightScale Inc., CloudBolt Software Inc., Embotics Corporation, BMC Software Inc., HP Enterprise Development LP, Citrix Systems Inc., VMware Inc. (Dell Technologies), and Cisco Systems Inc. Inorganic growth strategies such as collaborations and partnerships have been highly popular in the cloud management platform market and are likely to remain a key factor in the growth of the cloud management platform market over the forecast period.
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