USD 13.15 billion
Report ID: SQMIG45F2100 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 119 | Figures: 67
Global Cloud System Management Software Market size was valued at USD 13.15 billion in 2021 and is poised to grow from USD 16.32 billion in 2022 to USD 91.81 billion by 2030, at a CAGR of 24.10% during the forecast period (2023-2030).
Due to growing enterprise use of cloud computing technologies and technical developments in the IT sector, cloud system management software has gained popularity in recent years. The market is expanding due to the rising demand for it as well as the need to save costs connected with IT operations.
The cloud system management software market is expanding quickly as a result of how much these software aid businesses by boosting data security and operational effectiveness for businesses all over the world. Cloud system management software offers features such automated billing, human resource management, IT service management, customer relationship management, and enterprise resource planning. Additionally, the software enables management, monitoring, and enhancement of resource management for businesses. Businesses are implementing management software owing to a number of advantages, including increased employee productivity, simplicity in implementation, end-user acceptance, best resource utilization, reduced maintenance costs, and others.
The cloud enterprise management software market is expanding due to a number of causes, including the explosive growth of the banking industry, e-commerce, and cloud-based services. Additionally, their demand is increasing due to the rising external threats and safety concerns in various developed nations.
US Cloud System Management Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.15 billion
To get more reports on the above market click here to Buy The Report
Global cloud system management software market is segmented based on component, deployment, enterprise size, end user and region. Based on the component, the cloud system management software market is segmented as IT operations management, IT automation and configuration management, and IT service management. Based on the deployment, the cloud system management software market is segmented as cloud and on-premise. Based on enterprise size, the cloud system management software market is segmented as SMEs and large enterprises. Based on the end user, the cloud system management software market is segmented as BFSI, IT & Telecom, retail and consumer goods, manufacturing, energy and utilities, and others. Based on region the cloud system management software market is categorized into North America, Europe, Asia-Pacific, and MEA.
Cloud IT operations management to dominate the cloud system management software market owing to rising demand in BFSI and IT industries
Widespread popularity among BFSI and IT organisations for secure transactions is likely to lead to expansion in cloud IT operations management. However, a growing number of start-ups are utilising cloud services, which is expected to lead to growth in cloud IT automation, configuration management, and service management. Key players are also making investments in cloud technology-related research and development projects that will fuel market expansion. Additionally, cloud automation reduces or completely replaces the requirement for manual labour in the delivery and management of cloud workloads and services. Private, public, and hybrid cloud scenarios all use cloud automation.
Growing demand for secure on-premises deployment in SMEs to support Cloud System Management Software Market growth
Due to its increased level of data security, on-premise is projected to rule the cloud system management software market during the forecasted time. Additionally, small businesses depend on on-premise deployment choices due to security concerns and financial restrictions. However, as governments and financial institutions place more emphasis on this approach, cloud-based deployment is projected to experience the fastest growth rate in the near future. The surge is also linked to SMEs' increasing use of cloud-based IT service management tools to increase productivity and reduce operational costs.
Large-scale businesses are becoming increasingly dependent on IT software
During the forecast period, it is projected that the big enterprises category will hold the largest share in the cloud system management software market. Large corporations are spending money on this software to deal with problems including data security, cloud connectivity challenges, and privacy concerns.
Small and medium-sized businesses are predicted to have significant growth during the projection period. Retail, e-commerce, and healthcare firms are concentrating on using Cloud Systems Management software to grow their services through the cloud channel in order to reach more customers.
Growing use of management software in the BFSI and Healthcare sectors to drive Cloud System Management Software Market growth
During the projection period, BFSI is projected to have the greatest share in the cloud systems management software market. In order to reinforce their business models, banks and financial services companies are becoming more and more dependent on AI, data modelling, and Big Data. By predicting client spending trends and generating insights from unstructured data, these elements will enable banks and financial institutions to monetize data. As a result, FinOps based on cloud systems and multi-cloud budgetary control are widely used in the BFSI sector. Mission-critical cloud management development is drawn to the simplification of data science and machine learning in the banking and other financial sectors.
Additionally, during the forecasted period, it is projected that the IT & telecom and healthcare sectors would both have significant revenue growth. Patient portals, Internet of Things (IoT) gadgets, electronic medical records, mobile apps, and Big Data analytics are all made possible by cloud management software for healthcare end users. Making decisions is made easier since it enables simple scalability and flexibility.
To get detailed analysis on other segments, Request For Sample Report
North America is anticipated to dominate the global cloud system management software market due to early acceptance of breakthrough technology and a highly competitive environment. Cloud systems management software has become widely popular in the region owing to the presence of major players in the cloud system management software market like VMware, Inc., Microsoft Corporation, IBM Corporation, and BMC Software Inc. Key providers have been inspired to create and deploy advanced cloud services as a result of end consumers' level of readiness to adopt evolving technologies.
As the number of cloud-based start-ups increases throughout France, Italy, and the Benelux, Europe is projected to experience tremendous growth. The region's increasing adoption of cloud-based technologies and burgeoning digital government efforts & regulatory settings are also expected to fuel growth. Leaders in the industry are also concentrating on growing their businesses in the region.
Asia Pacific will experience significant growth due to increased urbanisation rates, technological advancements, and government investments in the digital economy. Due to the quick advancements in telecommunications, cloud computing, and IoT, many businesses have adopted cloud-based techniques. The use of Cloud systems management solutions has significantly increased as a result of the growing popularity of cloud technologies and the expansion of corporate activities.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Cloud System Management Software Market Driver
Increased use of cloud video streaming services and data center infrastructure will promote market expansion
Facilitating simplified management of complex and heterogeneous cloud environments
Cloud System Management Software Market Challenge
Data privacy and security concerns associated with cloud solutions to impede growth
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The cloud system management software market is highly fragmented, with the major firms controlling a sizeable portion. These players are committed to providing their services on a global level, which favours their ability to launch a range of offerings to keep their clientele. For instance, Dell Technologies stated in October 2021 that it would be working with VMware to provide straightforward infrastructure-based and multi-cloud solutions. This programme will assist businesses in learning from their data. In order to consolidate the remaining market space, smaller competitors are concentrating on using strategic strategies, such as mergers and acquisitions and alliances.
Cloud System Management Software Market Top Players Company Profiles
Cloud System Management Software Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, one of the key factors propelling the growth of the cloud systems management software market is the increased adoption of cloud-based technologies across a variety of industrial verticals. The market's expansion is accelerated by the increase in tools that make it easier to manage complex and diverse cloud systems, as well as by the widespread use of hybrid cloud and multi-cloud strategies by businesses across a variety of industry verticals. Due to COVID-19, the market is also further influenced by the migration of enterprise workloads to cloud settings and the surge in cloud-based business utility solutions and services usage. The market for cloud systems management software is also positively impacted by a rise in end-to-end business application assurance and uptime, rapid digitization, the expansion of end use sectors, high investments, and the emergence of AI-enabled tools in IT operations. Additionally, proactive investments made by businesses in cloud-based models and an increase in AIOps technology investments create lucrative potential for market participants during the projected timeframe.
|Market size value in 2021||USD 13.15 billion|
|Market size value in 2030||USD 91.81 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Cloud System Management Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cloud System Management Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cloud System Management Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cloud System Management Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.