Multicloud Market By Deployment Model (Public, Private and Hybrid), By Service Model (Infrastructure as a Service, Platform as a Service, and Software as a Service), By Service (Orchestration and Automation, Integration and Migration, Logging and Monitoring, Containers and Microservice, Cost Management, Security and Governance) By Organization Size (Large Enterprises, Medium & Small Scale Enterprises) By Industry Applications (Banking, Financial Services And Insurance (BFSI) (Forecasting, Reporting and Analytics, Governance, Risk, and Compliance) Healthcare (Clinical, Non-clinical, Patient Management) Retail & Consumer Goods (Customer Management, Merchandising) IT and Telecom (Billing and Provisioning, Traffic Management) Manufacturing (Supply Chain Management, Operations) Education (Administration and Management, Surveillance and Security) – Global Analysis & Forecast 2020-2030

Report ID : 370  |  Published Date : Jul 2020  |  Pages : 160  |  Region : Global  |  Report Code : ICT-34

 Multi-cloud Market Overview and Introduction

Multi-cloud refers to a cloud-based deployment model wherein an enterprise utilizes more than one cloud platform that delivers a specific application or a service. A multi-cloud environment can be of public, or private and combines op-premise operations with services running on multiple cloud providers for virtual data storage or other computing applications.

Multi-cloud provides companies with the opportunity to run in clouds that best match their requirements. It also prevents vendor lock-in and provides the freedom to move applications, data, and parts of an application stack as cloud services evolve. Another key benefit of multi-cloud includes cost management through choice and flexibility. Multi-cloud allows organizations to negotiate rates and take control of their long-term costs rather than working with a single cloud provider where prices may increase without checks. Regional data centers are utilized to minimize network latency, maximize the throughput of networking between users and the data, and abide by the regional laws. With multi-cloud, organizations can leverage the best cloud provider in each region based on strong presence, capacity, and services, among others.

The growing adoption of multi-cloud has also given rise to cloud service brokers. Owing to the complexity of the choice of deployment, enterprises and service providers opt for Cloud Services Brokers (CSBs) to simplify the management and aggregation of those services. They help in providing an automated selection of the cloud services to offer the best performance, security, and cost-effectiveness. The services include the ability to auto-provision cloud services, analyze the services in terms of performance & availability and enable the interoperability of public & private cloud-based services.

However, factors such as data breaches, lack of skilled personnel and cloud wastage are the key factors restraining the market growth.  Despite continuous enhancements in terms of security & data protection, data breaches continue to be among the primary concerns for cloud deployments among enterprises. It has been witnessed that security misconfiguration, identity & access management permission errors and lack of adequate visibility into settings & activities were some of the major concerns around cloud deployment.

The global multi-cloud market is segmented by deployment model, organization size, end-use industry, and region.

Multi-cloud Market By Deployment Model

Based on deployment model, public cloud dominated the market in 2019. The public model is the most popular method to deploy cloud services. It is becoming increasingly popular due to cost savings, better protection than on-site solutions, and cloud computing driving the digital business. With enormous cloud scalability and versatility, it stands to be the perfect fit for business processes. Lower costs, high reliability, near-unlimited scalability, and maintenance-free are some of the advantages offered by a public cloud.

Multi-cloud Market By Service

Based on service, orchestration & automation is one of the key features that the enterprises look for while adopting a multi-cloud strategy.  services. Although multi-cloud comes with various advantages, there is complexity in managing multiple environments across different cloud providers. The Atos Multi-Cloud Orchestration, Automation and Management offers enterprises a simple, cost-effective way to manage, automate, and optimize their cloud infrastructure through a single pane of glass and accelerate the creation of new digital services.

Multi-cloud Market By Organization Size

Based on organization size, large enterprises dominated the market in 2019. The management of high volumes of data, high capital requirements, and usage of complex BI tools are some of the key drivers for the high adoption of multi-cloud among large enterprises. For instance, Google introduced the BigQuery Omni, a flexible, multi-cloud analytics solution, powered by Anthos that enables the analysis of data from a single pane of glass across datasets in Google Cloud, Amazon Web Services (AWS), and Azure. However, small & medium enterprises are witnessing increased data cloud-based analytics adoption and increased applications, which is expected to drive the demand for multi-cloud in the coming years.

Multi-cloud Market By Industry Applications

Based on industrial applications, the market has been segmented into Banking, Financial Services and Insurance (BFSI) (Forecasting, Reporting and Analytics, Governance, Risk, and Compliance) Healthcare (Clinical, Non-clinical, Patient Management) Retail & Consumer Goods (Customer Management, Merchandising) IT and Telecom (Billing and Provisioning, Traffic Management) Manufacturing (Supply Chain Management, Operations) Education (Administration and Management, Surveillance and Security). Among these, the Banking, Financial Services, and Insurance (BFSI) segment is expected to witness considerable growth in the coming years as cloud computing is helping to create new markets and services to differentiate from the competition and improve customers’ access and utilization of banking products and services. Additionally, adoption from other industries, such as healthcare, retail & consumer goods, and others, are further driving the demand.  For instance, the growing utilization of Software as a Service (SaaS) to increase software versatility and accessibility without having to install and run applications on multiple computers and data systems in the healthcare industry is acting as a key market driver. According to the Healthcare Information and Management Systems Society (HIMSS), over 83% of healthcare organizations are already utilizing cloud services.

Multi-cloud Market By Region

The global multi-cloud market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific will witness the fastest growth of multi-cloud deployments in the coming years owing to the increasing adoption from both large & medium scale enterprises, cloud infrastructure development, and utilization of BI tools, among others. For instance, India is on the cusp of a cloud revolution and is highly dependent on the services sector including insurance, government, tourism, banking, education, and social services. Most Indian enterprises are now looking to adopt cloud-based models as they look to accelerate their digital transformation journey. China is the leading market in the region owing to high adoption by small & medium-sized enterprises, the increasing penetration of new industries, and advancements in cloud computing, among others. It is estimated that cloud infrastructure services spending will grow by 32% to US$ 141 billion in 2020 and US$284 billion by 2024 in the country.

Multi-cloud Market Prominent Players

Some of the prominent players in the global multi-cloud market are Amazon, Microsoft, Google, IBM, Alibaba Group, VMware, Inc, Flexera. NetApp, BMC, and OpenStack, among others.