Integrated cloud management platform market worth $5.8 billion by 2027

CHICAGO, April 7, 2022 /PRNewswire/ — According to a research report Integrated Cloud Management Platform Market with COVID-19 Impact Analysis, by Component (Solutions & Services), Organization Size, Vertical (BFSI, IT & Telecom, Government & Public Sector) and Region – Global Forecast to 2027″, released by MarketsandMarkets™, the global Integrated Cloud Management Platform market size is expected to grow at a compound annual growth rate (CAGR) of 15.2% during the forecast period, reaching $5.8 billion by 2027 from $2.9 billion in 2022.

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The key factors that are expected to drive the market growth are increased mobility, shift of workload to cloud environments and growing trend of bring your own device, facilitating simplified management of complex and heterogeneous cloud environments, adoption growth of hybrid cloud and multi-cloud. strategies, across companies across different verticals, increasing adoption of cloud-based enterprise utility solutions and services due to COVID-19, increasing cost savings and workforce productivity , and the emergence of AI-enabled tools in IT operations.

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The services segment is expected to grow at a higher CAGR during the forecast period

On the basis of component, the market is segmented into two categories: solutions and services. The services segment is expected to grow at a higher CAGR during the forecast period. Services, including consulting, integration and implementation, training and education, and support and maintenance, are required at various stages, from pre-sales needs assessment to deployment and to the execution of the after-sales product, thus allowing the customer to obtain a maximum return on investment. The services are an integral part of the deployment of the onboard solution, training, management and maintenance of the software solution. Companies offering these services include consultants, solution experts, and dedicated project management teams specializing in the design and delivery of mission-critical business intelligence software, tools, and services.

The SME segment is expected to grow at a higher CAGR during the forecast period.

The ICMP market is segmented by organization size is segmented into SMB and large enterprise. The SME segment is expected to grow at a higher CAGR during the forecast period. Profitability is an important factor for SMEs, as they always have a tight budget, which leaves them with limited means to market themselves and gain visibility. Implementing cloud storage is expected to lead to increased revenue, desired outcomes, and improved business efficiency for SMBs. SMBs are adopting the pay-as-you-go model, which offers the flexibility to manage their IT infrastructure according to their needs. SMEs face intense competition from large companies; thus, to gain a competitive edge, they are adopting integrated cloud management platforms, which would enable quick responses, timely decisions and improved overall business productivity.

Consumer goods and retail are expected to grow at a higher CAGR during the forecast period.

The consumer goods and retail vertical is expected to grow at the highest CAGR over the forecast period. The world of retail is changing rapidly, not only in terms of where we shop, but how we shop, when we pay for goods, and how those goods move through the retail chain. ‘supply. The impact of this has redefined the perception of customer experience and the standards that retailers today are expected to meet and exceed. Multi-cloud platforms give retailers flexibility and allow them to do storage and computing at lower cost. Examples are the British retail giant, Sainsbury’s and Argos. The merger of the two companies was facilitated by adopting a multi-cloud platform, as combining the operational requirements of both companies would have been impossible on-premises. Thanks to multi-cloud, companies have been able to merge their business processes and maximize their reach. Retailers use data to connect e-commerce and in-store shopping experiences, and the only way to do this accurately and efficiently is through flexible and scalable technology. The rise of selling on social media platforms also means integrating payment into the user experience, putting the security and protection of customer data at the forefront of retailers’ concerns. The hybrid cloud provides the portability and control needed to usher retailers into the new era of customer experience.

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APAC is expected to grow at a higher CAGR during the forecast period.

The APAC market is gaining momentum among global companies. the Asia Pacific region includes emerging economies, such as China, Japan, Australia and New Zealandand the rest of Asia Pacific. The region is gaining momentum among global companies. It consists of countries with a complex ecosystem of start-ups, governments, SMEs and large multinational companies using and developing an array of valuable ICT solutions. The main drivers of technological progress in the region are increasing levels of urbanization, technological innovation and government support for the digital economy. Rapid advancements in telecommunications, cloud computing, and IoT have led several organizations to adopt cloud-based strategies. The region is expected to experience tremendous growth over the forecast period. With the increasing adoption of cloud technologies and the growing number of business processes, there has been a significant increase in the adoption of integrated cloud management platform solutions.

the Integrated Cloud Management Platform Market includes major vendors, such as Microsoft (US), IBM (US), VMware (US), Dynatrace (US), MicroFocus (England), Snow software (Sweden), Cognizant (US), BMC Software (US), Lumen Technologies (US), Splunk (US), Oracle (US), Cisco (US), HPE (US) US), NetApp (US), Nutanix (US), Flexera (US), Datadog (US), Red Hat (US), New Relic (US), Service Now ( United States), HashiCorp (United States), Turbonomic (United States), Abiquo (United States), HyperGrid (United States), Rafey Systems (United States), Centilytics (United States), Stacklet ( US), RackWare (US), Cirrusform (UK), Corestack (US), Morpheus Data (US) and CloudBolt (US). The study includes an in-depth competitive analysis of leading Integrated Cloud Management Platform market players with their company profiles, recent developments, COVID-19 developments, and key market strategies.

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