Cloud System Management Markets, 2025 - Increasing Adoption of Hybrid Cloud and Multi-Cloud Strategies
DUBLIN, Sept. 23, 2020 /PRNewswire/ -- The "Cloud System Management Market by component (IT Operations Management (ITOM), IT Service Management (ITSM), and IT Automation and Configuration Management (ITACM)), Deployment Model, Organization size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Cloud System Management Market Size is Expected to Grow from USD 10.6 Billion in 2020 to USD 31.4 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 24.1% during the Forecast Period.
Cloud system management solutions enable businesses to operate and monitor applications, data, and services residing in the cloud as well as on-premises. The major purpose of these solutions is to ensure that the cloud infrastructure is working optimally and accurately interacting with users and other services.
Increasing adoption of hybrid cloud and multi-cloud strategies to drive the cloud system management market
Digital business transformation has entered a more challenging and urgency-driven phase due to the COVID-19 pandemic. Global giants are providing customers with cost-effective and productive digital solutions as every industry is economically hard-hit from the pandemic. The sudden shutdowns of offices, schools, and enterprises have increased the demand for cloud solutions and services.
IT Operations Management (ITOM) to help enterprises in gaining visibility across infrastructure
ITOM involves technology infrastructure components and requirements of individual applications, services, storage, networking, and connectivity elements within an enterprise. It is responsible for the smooth functioning of the infrastructure and operational environments that support the application deployment to internal and external customers, including network infrastructure, server and device management, computer operations, IT infrastructure library (ITIL) management, and help desk services to an organization. It mainly represents the tools needed to manage the provisioning, capacity, performance, and availability of the computing, networking, and application environment.
The IT and ITeS vertical has experienced significant growth in recent years. In their constant struggle to manage the reducing margins, ITeS companies have taken several steps, such as business process and IT outsourcing, infrastructure sharing, and revenue assurance, to reduce their operating costs and increase their revenues. To ensure the effectiveness of these steps, it is important to ensure the effectiveness of the IT services supporting thee steps. In the ITeS industry, cloud management is done in a complex manner where the prime focus is on the customer's needs rather than the businesses.
Cloud system management solutions are helping organizations' IT to mature to the level of IT governance aligned with the overall corporate strategy, which would further drive business performance. Hence, it is important to have an effective cloud ITSM framework to satisfy the growing expectations of customers. Furthermore, the increased use of smartphones and tablets across organizations has enabled employees to work remotely.
North America to hold the largest market size and the Asia Pacific (APAC) to grow at the highest rate during the forecast period
North America is the most mature market in terms of cloud system management solutions adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. APAC is expected to offer significant growth opportunities for cloud system management solutions vendors during the forecast period. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adopt cloud system management solutions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Cloud System Management Market, by Component
11 Competitive Landscape
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