Cloud System Management Market is Booming Across Globe

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Cloud System Management Market Overview

The global Cloud System Management Market Size is growing continually. The global cloud system management market is expected to grow USD 5.7 Billion with register an exponential 11.5% CAGR duringthe forecast period 2022-2030. Factors such as the significantly increased adoption of cloud system management platforms across the industry verticals and the rising need for high-level governance in organizations drive the market growth.

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Market Research Future (MRFR) states that the global cloud system management market is poised to create a substantial revenue pocket by 2027, growing at a colossal CAGR during the forecast period (2020–2027). Technology providers are increasingly offering different cloud system services and applications.

Additionally, high costs of daily IT management, technical support, and third-party cloud-based services required for automation and enhancing business operations boost the market growth. Cost-effective, cloud-based applications are rapidly adopted due to their economical data storing benefits.

Also, factors such as rising uses of cloud-based solutions, shifts from conventional systems to cloud platforms, and surging demand for simplified cloud environments management push market revenues. On the flip side, rising concerns over data security and privacy issues restrict the market growth.

Global Cloud System Management Market – Segments

The report is segmented into components, deployments, organization size, verticals, and regions. The component segment is sub-segmented into IT operations management, IT automation & configuration management, IT service management, and others. The deployment segment is sub-segmented into cloud and on-premises.

The organization size segment is sub-segmented into large enterprises and small & medium enterprises. The vertical segment is sub-segmented into IT & telecommunications, BFSI, government, manufacturing, retail & consumer goods, media & entertainment, energy & utility, and others.

Cloud system Management Market – Regional Analysis

North America dominates the global cloud system management market. The strong presence of major vendors and the wide adoption of cloud system management platforms & services boost the market size. Besides, technology upgrades and increased adoption of cloud-based technologies in various industry verticals substantiate the market value. Moreover, well-established infrastructure and seamless internet connectivity positively impact the growth in the regional market.

Global Cloud System Management Market - Competitive Analysis

The fiercely competitive cloud system management market appears fragmented, with many notable players forming a competitive landscape. Product launches, agreements & partnerships, M&A, and expansion are some of the strategic initiatives traced from the recent proceedings in the market.

Major Players:

Players leading the cloud system management market are Microsoft (US), VMware, Inc (US), IBM Corporation (US), BMC Software, Inc. (US), Cisco Systems, Inc. (US), New Relic, Inc. (US), ServiceNow (US), Splunk Inc. (US), Dynatrace LLC (US), Micro Focus (UK), Datadog (US), Oracle (US), Amazon Web Services, Inc. (US), Broadcom (US), and Google (US), among others.

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Industry/ Innovation/ Related News:

Oct.20, 2021 -- Dubai Roads and Transport Authority (RTA) announced that it has extended its partnership with Ericsson transforming Dubai’s public transportation system. Ericsson would continue to help RTA modernize the Regulatory Monitoring System (RMS) from on-premise to a secured local public cloud environment.

Data extracted from the enhanced RMS would shape the UAE’s national growth and development efforts, enhancing Dubai’s public transportation regulations.

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About Market Research Future (MRFR):

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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