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United States, Rockville MD, Aug. 03, 2022 (GLOBE NEWSWIRE) -- A recently published study by Fact.MR expects the multi-cloud management solutions market to flourish at a CAGR of 23.6% during the 2022-2032 forecast period. As per the study, the multi-cloud management industry is forecast to reach a valuation of US$ 75 Billion by 2032. Multi-cloud management platforms enable businesses to manage numerous cloud services, such as SaaS, PaaS, and IaaS, within a single heterogeneous architecture.

Multi-cloud management enables the deployment and administration of enterprise-class applications across public, private, and hybrid clouds. It also enables enterprises to streamline cloud storage administration while increasing security.

The continuous rollout of high-speed 5G networks, developments in cutting-edge technologies such as AI and Machine Learning (ML), and the improved flexibility provided by cutting-edge cloud computing technologies are likely to boost the sector throughout the projection period. Concerns about the dependability of single clouds and vendor lock-in situations, as well as a growing preference for cost-effective cloud installations and increasing pressure to ensure compliance with various data security and privacy protection regulations, are driving enterprises to adopt multi-cloud management solutions.

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End-users have more negotiating power with multi-cloud management since they may switch between several providers rather than depending on a single provider. Furthermore, end users may employ multi-cloud management to divide their workload across many clouds and provide greater flexibility in data distribution. During the projection period, North America is estimated to have the greatest market share in the Multi-Cloud Management market, followed by the European region. The region's cloud services industry is rapidly transitioning from isolated cloud solutions to platforms that incorporate onsite, public, and private IaaS. Because of its powerful economic infrastructure and corporate need for cloud services, Europe is expected to be the industry's second biggest region in terms of market size.

Key Takeaways from the Market Study

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Market CompetitionPenetrating new geographies, collaborating with government agencies or service providers and rebranding initiatives comprise some major strategies adopted by prominent multi-cloud management providers. Some prominent market developments are as follows:

Key Segments Covered in the Multi-Cloud Management Market Report

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More Insights AvailableFact.MR, in its new offering, presents an unbiased analysis of the global multi-cloud management market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of type (security & risk, management, training & consulting, reporting & analytics, cloud automation, managed services and others), by enterprise (small & medium enterprise (SME) and large enterprise), end-use (BFSI, IT & telecom, consumer goods & retail, manufacturing, healthcare, media & entertainment, government and others) across five major regions (North America, Europe, Asia Pacific, Latin America and Middle East & Africa).

Fact.MRs Domain Knowledge in Technology

Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making. We provide both qualitative and quantitative research, spanning market forecast, market segmentation, competitor analysis, and consumer sentiment analysis.

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Multi-Cloud Management Platforms uptake to be Maximum in the BFSI Sector, expanding at a 23% CAGR: Fact.MR Report - GlobeNewswire