The global cloud system management market accounted for a value of USD 9.1 billion by 2019. Cloud system management market projected to register growth at a CAGR of 21.1% during forecast period.
COVID-19 has impacted all the businesses over the globe. Manufacturing units have to shut down and offices have to adopt work from home model for precautions and well-being of employee. It also helps in smooth and efficient operation. The smooth operations from remote working can be achieved through cloud based solutions. The small, medium and large organizations are adopting these solutions due to spread of corona virus across all regions. This leads to growth in cloud system management market.
For more details, visit: Global Cloud System Management Market By Deployment Model (On-Premises, Cloud Deployment), By Component (IT Operation Management, IT Automation, Others), By Organization Size, By End-Users, By Region, Forecast & Opportunities to 2026
The cloud system management solution is widely adopted by all the organizations weather small, medium or large organizations due to spread of corona virus. It helps organizations to combine technologies and software in a design which manages cloud environment. This drives growth in cloud system management market during forecast period.
On the basis of component, the cloud system management market is segmented into IT operation management, IT service management, IT automation and configuration management. The ITOM segment is estimated to dominate the market during forecast period. ITOM helps in smooth functioning of the infrastructure and operational environments which supports deployment to external & internal customers. The tools such as provisioning, networking, availability of computing, performance, capacity and provisioning needs to be manage using tool which is represented by ITOM. This drives growth in ITOM segment during forecast period.
On the basis of deployment model, the cloud system management market is segmented into on-premises and cloud deployment. The on-premises deployment model is estimated to dominate the market during forecast period. The on-premises segment is a bit expensive but it is widely adopted by many organizations as it ensures maximum security. Many organizations require maximum security like some of the government organization and banks, the on-premises deployment is largely adopted by such organization. This drives growth in on-premises deployment model during forecast period.
On the basis of end-user, the cloud system management market is segmented into BFSI, healthcare & life science, retail & consumer goods, IT & telecommunication, media & entertainment and others. The BFSI segment is estimated to hold largest market share during forecast period. The banking and financial services organization needs to maximum data security. The demand for big data and predictive analytics is growing immensely as BFSI needs to predict customer spending patterns. BFSI segment adopt cloud system for safeguarding data of consumer under General Data protection Regulation. This drives growth in BFSI segment during forecast period.
Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. The rapid technological advancement and innovation is immensely supported by government in this region. The industrialization, innovation and urbanization are increasing in this region. The telecommunication is getting better and advanced. The cloud computing and IoT is adopted by various organization of all sizes in Asia-Pacific region. The adoption of cloud technologies is increasing immensely in this region and this drives growth in cloud system management market during forecast period.
The key market players in cloud system management market are VMware, Microsoft, IBM, Cisco, BMC Software, New relic, Splunk, Service Now, Dynatrace, Dtadog, Google, Micro Focus, Oracle, Riverbed, Densify, Chef, Apptio, Turbonomicc, HPE, Puppet, Science Logic, Flexera and Broadcom.
- What are the expected industry trends over the next three to five years?
- Which of the cloud system management deployment model is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?