According to a new study by Grand View Research, the global multi-cloud management market is projected to reach a value of USD 56.02 billion by 2030, growing at a CAGR of 28.0% from 2023 to 2030. The increasing emphasis on AI, automation, efficiency, and effective governance processes is expected to drive the adoption of multi-cloud management solutions in organizations. Moreover, growing concerns over the reliability of a single cloud are anticipated to play a decisive role in driving the adoption of multi-cloud management solutions.
ISVs are gradually transitioning from software developers to software providers, and cloud-based infrastructure guarantees greater scale, service customization, and flexibility. CSPs are trying to make a foray into the multi-cloud management industry by managing and supporting multiple cloud products simultaneously. The adoption of multi-cloud platforms instead of relying on a single cloud vendor has become increasingly popular, as a vendor lock-in situation can be avoided.
However, the market may face some hindrances due to concerns over data security, privacy protection, and difficulties encountered in redesigning the network for cloud-based infrastructure. Industry players are adopting various strategies, such as product differentiation, launching new products, mergers & acquisitions, and strategic partnerships and collaborations to increase their industry share, cement their position in the market, and expand their business.
In April 2022, Citrix Systems, Inc. collaborated with Microsoft Corp. to develop a technique for offering an interactive, high-definition experience on various devices. IT managers can provide an improved work experience on Cloud PCs by integrating Windows 365 with Citrix Systems’ high-definition user interface technology and ecosystem flexibility. Employees can seamlessly migrate to Citrix Systems clients through windows365.microsoft.com. Citrix Systems and Microsoft users can have simple access to applications and data.
In conclusion, the global multi-cloud management market is projected to grow substantially in the forecast period, driven by the increasing adoption of multi-cloud management solutions in organizations. While concerns over data security and privacy protection could hinder the growth of the market, industry players are adopting strategies to expand their business and increase their industry share. Collaborations and partnerships between companies, like Citrix Systems and Microsoft, are expected to drive industry growth and innovation.
