Global Cloud System Management Market Hits US$ 15.3 Billion in 2022, Poised for Impressive 23.6% CAGR Growth to Reach US$ 53.2 Billion by 2028

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Nov 13, 2023, 12:45 ET

DUBLIN, Nov. 13, 2023 /PRNewswire/ -- The "Cloud System Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global cloud system management market has witnessed remarkable growth, with a market size of US$ 15.3 billion in 2022. The market is poised for further expansion and is expected to reach US$ 53.2 billion by 2028, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 23.6% during the forecast period of 2023-2028.

Cloud System Management: Transforming Cloud Infrastructure

Cloud system management is a web-based solution employed for the setup, configuration, monitoring, and optimization of cloud infrastructure. It is seamlessly integrated into existing cloud environments as a virtual machine (VM), comprising a database and a server. The server communicates with application programming interfaces (APIs) to connect the database and virtual cloud resources.

This technology involves comprehensive performance monitoring, security, compliance, disaster recovery, and contingency solutions. Cloud system management solutions play a vital role in data storage, facilitated by third-party cloud data hosting vendors. As a result, they find extensive applications across various industries, including banking, financial services, and insurance (BFSI), telecommunications, information technology (IT), and healthcare.

Key Market Trends Driving Growth

The robust growth of the information technology (IT) industry worldwide is a significant driver for the cloud system management market. Moreover, the widespread adoption of public, private, and hybrid cloud environments by organizations is fueling market growth. Cloud system management solutions efficiently handle complex multi-cloud strategies for enterprises with diverse operations.

The onset of the COVID-19 pandemic has accelerated the adoption of remote work models, further boosting the demand for cloud system management systems. Technological advancements, such as AI-based tools for cloud management, are acting as growth catalysts. AI-enabled cloud management solutions automate organizational functions, enhance security, and streamline incident ticketing and knowledge reuse. Other factors, including the growing preference for Software-as-a-Service (SaaS)-based delivery models, extensive research and development (R&D) activities, are anticipated to further drive the market.

Key Market Segmentation

The report provides a comprehensive analysis of the global cloud system management market, including insights into key trends and forecasts for various segments.

Breakup by Component:

Solution
Services

Breakup by Deployment Model:

Public
Private
Hybrid

Breakup by Enterprise Size:

Small and Medium Enterprise
Large Enterprise

Breakup by End Use Industry:

BFSI
Healthcare and Life Sciences
Retail and Consumer Goods
IT and Telecommunication
Others

Breakup by Region:

North America:

United States
Canada

Asia Pacific:

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe:

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America:

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape

The competitive landscape of the cloud system management industry features prominent players, including Amazon Web Services Inc. (Amazon), BMC Software Inc. (Boxer Parent Company Inc.), Broadcom Inc., Cisco Systems Inc., Dynatrace Inc. (Compuware), Datadog Inc., Flexera Software Ltd., Micro Focus International PLC, Microsoft Corporation, New Relic Inc., Oracle Corporation, Red Hat Inc. (IBM), Splunk Inc., Servicenow Inc., and Vmware Inc. (Dell Technologies).

Key Questions Answered in This Report:

What was the size of the global cloud system management market in 2022?
What is the expected growth rate of the global cloud system management market during 2023-2028?
What are the key factors driving the global cloud system management market?
What has been the impact of COVID-19 on the global cloud system management market?
What is the breakdown of the global cloud system management market based on enterprise size?
What is the breakdown of the global cloud system management market based on end-use industry?
What are the key regions in the global cloud system management market?
Who are the key players/companies in the global cloud system management market?

For more information about this report visit https://www.researchandmarkets.com/r/hxtvqy

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