The market for software for Cloud Systems Management was valued at USD 11.34 billion in 2021 and is anticipated to increase from USD 14.60 billion in 2022 to USD 85.02 billion by 2029, at a CAGR of 28.6%. Our analysis showed that the global market had grown by 23.2% in 2020 compared to 2019. The COVID-19 pandemic has had an unprecedented and staggering impact on the world, and demand for this software has exceeded expectations in all regions compared to pre-pandemic levels.
VMware, Inc., Microsoft Corporation, IBM Corporation, BMC, and Software Inc. are some of the significant companies included in the scope that provide cloud systems management software. Organizations can control cloud operations and business unit automation with the help of this software. Players offer a variety of applications, including cloud automation, performance, workload scheduling, configuration management, and event and problem management. Organizations can manage, monitor, and enhance resource management with the help of the software.
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Based on channel, deployment mode, application, end-use vertical, and geography, the study thoroughly segments the global market. Each segment and its corresponding sub-segments are thoroughly examined in the report using a graphical and tabular representation. By using it to identify and develop strategies based on the fastest-growing market segments and those with the highest revenue creation, as highlighted in the report, market players, investors, and new entrants can all profit from this analysis.
COVERAGE OF REPORTS
The research report identifies the top geographical areas globally to provide a better understanding of the user. In addition, the report offers insights into current market and industry trends and analyzes emerging technologies on a global scale. The reader can gain in-depth understanding of the market by further highlighting some of the growth-stimulating factors and restraints.
Key Industry Developments:
May 2021: Microsoft Corporation and Micro Focus worked together to provide government agencies with cloud-based digital transformation strategies. Through this partnership with Microsoft, mainframe programs can run safely and effectively on Microsoft Azure.
KEY INDUSTRY PLAYERS
Major market players like Microsoft Corporation, IBM Corporation, Google LLC, Oracle Corporation, and BMC Software, Inc. are concentrating on providing cloud-managed software globally. These businesses offer extensive on-premises and cloud deployment services. In order to improve their products and give end users better solutions, market players are currently developing and offering cloud-based solutions using cutting-edge technologies like artificial intelligence, machine learning, and others.
List of Key Companies Profiled:
VMware, Inc. (U.S.)
Microsoft Corporation (U.S.)
IBM Corporation (U.S.)
BMC Software, Inc. (U.S.)
Splunk, Inc. (U.S.)
ServiceNow (U.S.)
Google LLC (U.S.)
Micro Focus International Plc. (U.K.)
Oracle Corporation (U.S.)
Broadcom, Inc. (U.S.)
RESTRAINING FACTORS
Solutions for Cloud Systems Management help companies improve their operations by bringing cost savings, dependability, manageability, agility, and other benefits. However, one of the issues that important players are facing is ensuring the privacy and security of the company's data. Additionally, as a result, businesses are hesitant to move sensitive data to the cloud. Achieving high levels of interoperability and security has proven to be a significant challenge for cloud technology, despite numerous advancements and innovations. For instance, the 2020 Trustwave Global Security Report indicates that hackers target cloud services as their third most popular target.
REGIONAL INSIGHTS
North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific make up the different regions that make up the market. They are further segmented into countries.
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