Multi-cloud Market is anticipated to grow at a high CAGR from 2020 to 2030.

Market Industry Reports (MIR) has published a new report titled “Multicloud Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030.” According to the report, the global multi-cloud Market is anticipated to grow at a high CAGR from 2020 to 2030.

Although there is rapid growth in terms of the shift from on-premise to cloud deployment models, a noteworthy trend is the widespread adoption of a multi-cloud strategy. Organizations are increasingly shifting from working with one cloud provider to multiple cloud providers. In multi-cloud, enterprises can transfer their workload on multiple clouds, depending on the criticality of data and applications. It has been estimated that over 84% of organizations have a multi-cloud strategy in 2019.

The decision to adopt a multi-cloud strategy through providers, such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP), is beneficial from both technological and operational aspects. Different providers offer differing capabilities that cater to different customer concerns such as security, ability to migrate applications, level of analytics, ability to power machine learning & AI projects, and others.

The growing demand for different cloud-based applications across end-use industries, such as BFSI, retail & consumer goods, healthcare, manufacturing, and others, are leading to high adoption among enterprises. The utilization of data analytics for forecasting and reporting stands to be one of the key applications being widely utilized across different industries For instance, in the manufacturing industry, the Oracle Analytics running on cloud platform offers supply chain management processes ranging from operations to inventories and from logistics to sales.

Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:

North America accounted for the largest market share in the multi-cloud market and is expected to continue its dominance for the next few years during the forecast period. The growth in this region can be attributed to the high adoption of new technologies, the presence of established key players, and the on-going shift from on-premise to cloud-based model among government agencies, educational institutes, retail, manufacturing, and others. The growing inclination of enterprises toward cloud deployments is accelerating due to the COVID-19 pandemic, making work-from-home the new normal. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to the presence of emerging economies such as India and China. South Asia has become an important marketplace for cloud service providers, data centers, and edge computing infrastructure.

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

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