Cloud System Management Market Flourishes with the Rising Demand for Optimized Cloud Operations

Cloud System Management Market expands as businesses seek tools to optimize and manage their cloud environments efficiently.

AUSTIN, TEXAS, UNITED STATES, May 22, 2024 /EINPresswire.com/ -- Market Scope and Overview

The Cloud System Management Market is poised for significant growth in the coming years, driven by the burgeoning adoption of private and hybrid cloud solutions. The SNS Insider report estimates that the market size, valued at USD 2.39 Billion in 2023, will balloon to USD 5.10 Billion by 2031, reflecting a robust CAGR of 9.96% during the forecast period 2024-2031. This growth can be attributed to the increasing demand for cloud services that streamline the administration of complex and diverse cloud environments. Enterprises of all sizes and across industries are increasingly embracing hybrid and multi-cloud strategies, further fueling the need for robust Cloud System management solutions.

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Key Players:

➤ BMC Software
➤ CA Technologies
➤ Cisco Systems
➤ Hewlett Packard Enterprise Development LP (HPE)
➤ IBM Corporation
➤ Microsoft Corporation
➤ Oracle Corporation
➤ Red Hat
➤ ServiceNow
➤ VMware
➤ Other Players

Rising Demand for Streamlined Cloud Management

The market growth is fueled by several key factors. Firstly, the burgeoning adoption of private and hybrid cloud deployments is driving the demand for efficient management solutions. These solutions offer centralized control and visibility across disparate cloud environments, simplifying administration and optimizing resource utilization. Additionally, the growing popularity of cloud-based technologies across various industries is propelling the market forward. Businesses are increasingly leveraging the scalability, agility, and cost-effectiveness offered by cloud platforms, necessitating robust management tools for their Cloud System Management Market deployments.

The emergence of Artificial Intelligence for IT Operations (AIOps) is injecting significant momentum into the market. AIOps empowers businesses with a plethora of tools for automating IT operations. These solutions offer root cause investigation, anomaly identification, and actionable insights, enabling companies to proactively address potential issues and minimize downtime. Additionally, AIOps facilitates automated alert distribution, problem tracking, and information sharing, streamlining overall IT management.

Segmentation Analysis

The Cloud System Management Market can be segmented by components and deployment models. Based on components, the market encompasses IT operations management (ITOM), IT service management (ITSM), and IT automation & configuration management (ITACM). Among these, ITOM holds the dominant market share. The rising need for efficient network management, server administration, and IT infrastructure management fuels the expansion of this segment.

In terms of deployment models, the cloud segment is projected to experience the fastest growth and capture the largest market share. This rapid expansion can be attributed to the growing popularity of cloud-based services and solutions. However, on-premises solutions remain the preferred choice for highly regulated sectors like government and finance, where data security and privacy are paramount.

Market Segmentation and Sub-Segmentation Included Are:

On The Basis of component

➤ IT Operations Management (ITOM)
➤ IT Service Management (ITSM)
➤ IT Automation and Configuration Management (ITACM)

On The Basis of Deployment Model

➤ On-premises
➤ Cloud

On The Basis of organization size

➤ Small and Medium-sized Enterprises (SMEs)
➤ Large Enterprises

On The Basis of Verticals:

➤ Banking, Financial Services, and Insurance (BFSI)
➤ Telecommunications
➤ IT and ITeS
➤ Government and Public Sector
➤ Retail and Consumer Goods
➤ Manufacturing
➤ Energy and Utilities
➤ Media and Entertainment
➤ Healthcare and Life Sciences
➤ Others

Regional Development

The North American market is expected to remain at the forefront, driven by the burgeoning interest in cloud management solutions and the increasing adoption of cloud-based AI solutions across various sectors. Additionally, government initiatives to integrate cloud-based AI solutions are further propelling growth in the region.

Europe holds the second-largest market share, primarily due to the widespread adoption of cloud technologies and government initiatives promoting digitalization. The German market is the leader within Europe, whereas the UK market exhibits the fastest growth.

The Asia Pacific region is anticipated to witness the fastest CAGR during the forecast period. This growth is fueled by increased government investments in digital infrastructure, urbanization, and technological advancements. China is poised to dominate the regional market, while India is expected to witness the fastest growth rate.

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Recent Developments

In October 2022: Dynatrace introduced the Grail initiative, which aims to revolutionize data analytics and management in cloud-native and multi-cloud environments.

In January 2023: New Relic introduced advanced error-tracking features, empowering engineers to identify and resolve issues across their software stacks. These developments highlight the continuous innovation occurring within the market, paving the way for a more efficient and secure Cloud System ecosystem.

Key Takeaways

➤ The surging adoption of private and hybrid cloud solutions is driving the demand for robust Cloud System management solutions.

➤ The rise of AIOps empowers businesses with automation, proactive problem-solving, and improved decision-making capabilities for their Cloud System Management deployments.

➤ The cloud segment is projected to experience the fastest growth due to the increasing popularity and scalability of cloud-based solutions.

➤ The Asia Pacific region is anticipated to witness the fastest CAGR fueled by government initiatives, urbanization, and technological advancements.

➤ Continuous advancements in cloud security, automation, and AI are expected to propel the Cloud System Management Market forward in the coming years.

The Cloud System Management Market is anticipated to maintain its growth trajectory in the coming years. The increasing adoption of cloud-based solutions, coupled with advancements in automation and AI, is expected to fuel market expansion. Additionally, the growing demand for secure and reliable connectivity for IoT deployments will further drive market growth.

Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Cloud System Management Market Segmentation, by Component
8.1. IT Operations Management (ITOM)
8.2. IT Service Management (ITSM)
8.3. IT Automation and Configuration Management (ITACM)

9. Cloud System Management Market Segmentation, by Deployment Model
9.1. On-premises
9.2. Cloud

10. Cloud System Management Market Segmentation, by Organization Size
10.1. Small and Medium-sized Enterprises (SMEs)
10.2. Large Enterprises

11. Cloud System Management Market Segmentation, by Vertical
11.1. Banking, Financial Services, and Insurance (BFSI)
11.2. Telecommunications
11.3. IT and ITeS
11.4. Government and Public Sector
11.5. Retail and Consumer Goods
11.6. Manufacturing
11.7. Energy and Utilities
11.8. Media and Entertainment
11.9. Healthcare and Life Sciences
11.10. Others

12. Regional Analysis
12.1. Introduction
12.2. North America
12.3. Europe
12.4. Asia-Pacific
12.5. The Middle East & Africa
12.6. Latin America

13. Company Profile

14. Competitive Landscape
14.1. Competitive Benchmarking
14.2. Market Share Analysis
14.3. Recent Developments

15. USE Cases and Best Practices

16. Conclusion

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