Report : South & Central America Multi-Cloud Management Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Software and Service), Deployment (Public Cloud and Private Cloud), Application (Infrastructure and Resource Management, Identity and Policy Management, Compliance Management, Metering and Billing, and Provisioning and Lifecycle Management), and Verticals (IT and Telecom, BFSI, Government, Retail and Consumer Goods, Travel and Hospitality, Healthcare and Life Science, and Others)
At 22.3% CAGR, the South & Central America Multi-Cloud Management Market is speculated to be worth US$ 908.46 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America multi-cloud management market was valued at US$ 271.65 million in 2022 and is expected to reach US$ 908.46 million by 2028, registering a CAGR of 22.3% from 2022 to 2028. Growing Popularity of Hybrid Cloud and increase in data generation and rise in bring your own device (BYOD) and choose your own device (CYOD) trends are the critical factors attributed to the South & Central America multi-cloud management market expansion.
Dedicated private clouds, various public clouds for applications and data, and on-premises resources can all be included in hybrid cloud technology models. Over the years, it has been estimated that the adoption rates of hybrid cloud methods will increase further. More businesses will adopt multi-cloud environments to disperse their burden as they continue their cloud migration and digital transformation. For instance, 82% of major businesses have chosen a hybrid cloud architecture, and 92% of organizations either have a multi-cloud strategy or are currently developing one. According to Faction, a leading multi-cloud data services provider company, organizations use 2.6 public clouds and 2.7 private clouds on average. The cloud infrastructure offers advantages such as failover capabilities for greater redundancy and disaster recovery, avoiding vendor lock-in, and using pay-as-you-go models. Organizations now have more control over where and how their data is stored. While utilizing the scalable computing capability of the cloud, businesses may choose to preserve sensitive information on on-premises servers for security or compliance reasons. Thus, the high adoption of hybrid cloud by enterprises will create more opportunities for multi-cloud management solution providers in the near future.
On the contrary, security concerns regarding adoption of multi-cloud solutions hurdles the growth of South & Central America multi-cloud management market.
Based on component, the South & Central America multi-cloud management market is bifurcated into software and service. The software segment held 71.9% market share in 2022, amassing US$ 195.24 million. It is projected to garner US$ 659.05 million by 2028 to expand at 22.5% CAGR during 2022–2028.
Based on deployment, the South & Central America multi-cloud management market is bifurcated into public cloud and private cloud. The public cloud segment held 78.3% market share in 2022, amassing US$ 212.73 million. It is projected to garner US$ 700.38 million by 2028 to expand at 25.6% CAGR during 2022–2028.
Based on application, the South & Central America multi-cloud management market is segmented into infrastructure and resource management, identity and policy management, compliance management, metering and billing, and provisioning and lifecycle management. The infrastructure segment held 49.1% market share in 2022, amassing US$ 133.39 million. It is projected to garner US$ 460.39 million by 2028 to expand at 22.9% CAGR during 2022–2028.
Based on verticals, the South & Central America multi-cloud management market is segmented into IT and telecom, BFSI, government, retail and consumer goods, travel and hospitality, healthcare and life science, and others. The BFSI segment held 34.7% market share in 2022, amassing US$ 94.35 million. It is projected to garner US$ 332.19 million by 2028 to expand at 23.3% CAGR during 2022–2028.
Based on country, the South & Central America multi-cloud management market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 67.6% market share in 2022. It was assessed at US$ 183.63 million in 2022 and is likely to hit US$ 627.50 million by 2028, exhibiting a CAGR of 22.7% during the forecast period.
Key players dominating the South & Central America multi-cloud management market are BMC Software, Inc.; CISCO, INC.; IBM Corporation; VMware, Inc.; Micro Focus; UnityOneCloud; and Dynatrace LLC; among others.
- In 2022, BMC announced that the company has entered in a multi-year agreement to provide its BMC Helix service and operations management solutions to Google Cloud.
Contact Us
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: sam@businessmarketinsights.com