New York, US, Oct. 26, 2021 (GLOBE NEWSWIRE) —
According to a comprehensive research report by Market Research Future (MRFR), “Cloud System Management Market information by Deployment, by Components, by Organization Size and Vertical – forecast to 2027” market size to grow at a compound annual growth rate of 23.7% by 2027.
Cloud system management is a software capable of controlling fleets of systems. Virtualization of infrastructure and efforts to save on hardware costs can lead to adoption of cloud technology.
The global cloud system management market can showcase a phenomenal growth rate during the forecast period. The capacity of the software for managing data across cloud environments while keeping internal processes stable can drive market demand significantly. Provisioning, monitoring, and configuration of data and processes using cloud resources can bode well for the market. Use of hybrid cloud environments due to limitations of space on public cloud can create potential needs for the market.
Dominant Key Players on Cloud System Management Market Covered are:
- BMC Software Inc.
- Amazon Web Services Inc.
- Cisco Systems Inc.
- IBM Corporation
- New Relic Inc.
- Splunk Inc.
- VMware Inc.
- Dynatrace LLC
- Micro Focus
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Market USP Exclusively Encompassed:
Cloud management tools can recover data rapidly, integrate resources, track users and resources. Collaboration of cloud system management providers with cloud vendors to develop optimum solutions at efficient costs can drive market growth. Commercialization of cloud as well as focus on digital transformation will influence decisions of large enterprises. Rise of cloud spending and evolving strategies of enterprises can drive market growth. Surge in as-a-service models as well as deployment of public and private cloud services owing to inclination towards cost, quality, and performance can favor market growth.
Integration of artificial intelligence (AI) in operation management as well as detection of anomalies can propel market opportunities. Investments in predictive maintenance and rollout of notifications through ticketing and incident reuse can favor market demand and lead in high adoptions. The General Data Protection Regulation (GDPR) policy for saving information of customers by the BFSI sector as well as avoidance of fines by failing to adhere to regulations can bolster market demand.
But increasing number of cyberattacks and data breaches can limit market growth. The challenge of maintaining data on cloud environments as well as hesitancy among large organizations in shifting their data online can be a major challenge to market growth.
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Segmentation of Market Covered in the Research:
IT Operations Management to Deliver Huge Returns
By component, the global cloud system management market has been segmented into IT operations management, IT service management, and IT automation & configuration management. IT operations management can enable functioning of infrastructure and support deployment of applications.
On-premises Segment to Lead in Market Share
Based on its deployment, the market is bifurcated into cloud and on-premises. The on-premises segment is poised to capture the lead in the cloud system management market due to security concerns and need for on-premises solutions by sectors of government and banking.
Large Enterprises to Capture a Leading Market Share
By organization size, the global cloud system management market has been divided into large enterprise and small & medium enterprise. Large enterprises can capture a massive market share during the forecast period.
BFSI Vertical to Lead in Global Market
On the basis of vertical, the global cloud system management market has been segmented into BFSI, IT & telecommunications, government, retail & consumer goods, manufacturing, energy & utility, media & entertainment, among others. The BFSI vertical is poised to hold a large market share owing to various financial institutes and non-banking corporations embracing cloud for scaling their operations and providing seamless service to customers. Strict government norms for protecting customer privacy can bode well for the market.
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North America to Lead in Global Market Growth
North America can capture a large market share in the cloud system management market owing to demand for IT system and service management software. Huge demand for multi-cloud management systems as well as presence of key players can drive regional market growth.
Europe to Follow North America
Europe can be viable market for cloud system management owing to establishment of data centers and adoption of software from the IT & telecommunication sector. Benefits of efficiency, agility, and scalability can drive regional market growth. Advances in cloud computing, IoT, and telecommunications can favor the market.
COVID-19 Impact on the Global Cloud System Management Market
The COVID-19 outbreak accelerated digital transformation of processes and expedited the virtualization of data and hardware. Adoption of remote working and safeguards to protect employees from infection can drive demand for cloud system management. Benefits of cloud computing and shift of meetings and collaborations to virtual spaces can augur favorably for the market.
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