Hybrid Cloud Management Platform Market Definition
The global Hybrid Cloud Management Platform market is expected to witness high demand in the forecasted market period due to COVID 19 impact. A hybrid cloud is an integrated cloud service, which utilizes both, private and public clouds to perform distinct functions within the same organization. Digital transformation using artificial intelligence and hybrid cloud has accelerated amid the COVID-19 pandemic and these new technologies can play an important role in helping companies gain competitive advantage. The importance of hybrid cloud has increased on account of the versatility and dynamic nature of work. It offers numerous benefits such as cost efficiency and scalability, flexibility, and security. Owing to these benefits, organizations are shifting toward hybrid cloud to achieve security of data, application, and large storage spaces to reduce their capital expenditure by deploying a combination of the private and public cloud model.
The market study is broken down by Type (Internal Brokerage Enablement and External Brokerage Enablement), by Application (Metering and Billing, Provisioning, Compliance Management, Infrastructure and Resource Management, Identity and Policy Management, Lifecycle Management and Others) and major geographies with country level splits.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Hybrid Cloud Management Platform market throughout the predicted period.
Microsoft (United States), IBM (United States), Dell (United States), Jamcracker (United States), Citrix (United States), HPE (United States), Oracle (United States), BMC Software (United States), CloudBolt Software, Inc. (United States) and SCALR (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Embotics Corporation (United States) and RackWare (United States).
AdvanceMarketAnalytics has segmented the market of Global Hybrid Cloud Management Platform market by Type, Application and Region.
On the basis of geography, the market of Hybrid Cloud Management Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Organization Size, the sub-segment i.e. Large enterprises will boost the Hybrid Cloud Management Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Hybrid Cloud Management Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Cloud Automation will boost the Hybrid Cloud Management Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
1st August 2019, IBM has announced that it has transformed its software portfolio to be cloud-native and optimized it to run on Red Hat OpenShift. Enterprises can now build mission-critical applications once and run them on all leading public clouds, including AWS, Microsoft Azure, Google Cloud Platform, Alibaba and IBM Cloud and on private clouds.
7th May 2019, Red Hat, Inc., the world’s leading provider of open source solutions, and Microsoft Corp. today announced the general availability of Azure Red Hat OpenShift, which brings a jointly-managed enterprise-grade Kubernetes solution to Microsoft’s a leading public cloud, Microsoft Azure.
- Need for High Level of Governance and Policy
- Growth in Digital Services and Their Applications
- Increased Agility and Automation
- Rising Need for Interoperability Standards Between Cloud Services and Existing Systems
- Significant Growth in Hybrid Cloud Adoption
- High Adoption Rate in SMEs
- Application Portability on Various Cloud Environments
- Compliance With Stringent Regulations
- Complexities in Redesigning the Network for Cloud
- Lack of Expertise and Management Overheads
Key Target AudienceHybrid Cloud Management Platform Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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