Global Cloud System Management Market Size, Trends, and Analysis - Forecasts To 2026 By Component (IT Operations Management [ITOM], IT Service Management [ITSM], IT Automation and Configuration Management [ITACM]), By Deployment Model (On-Premises, and Cloud), By Organization Size (Small and Medium Enterprises), By Vertical (Banking, Financial Services, and Insurance [BFSI], Telecommunications, IT, Government & Public Sector, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Media & Entertainment, Healthcare & Life Sciences, and Others [Education, Travel & Hospitality, and Transportation & Logistics]), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
Cloud System Management Market: Insights
Cloud system management comprises of managing and administration of cloud computing products and services. They integrate the various devices and applications on a cloud network that allows for faster and easier access to data and services. With advancements in cloud technology, companies are turning to cloud systems to store and read data quickly, provide applications and services instantly, and for more efficient communication. Cloud system management designs a system of management and strategy that can improve the efficiency of any company. IT firms are turning to cloud-based systems to reduce up-front infrastructure costs by utilizing cloud services to store and access them. Cloud networks provide storage space and computing power to companies when and as required. Cloud networks can be deployed as public, private, or hybrid models. Private networks are accessible to the firm alone, while the public is open to the general public and hybrid clouds are formed from combining public and private cloud networks from different providers. Cloud systems offer flexibility, scalability, remote access to data and reliability. The market for cloud system management is driven by the increased implementation of cloud systems by firms. The increasing number of work from home practices has also increased the demand for cloud system management. Because of the global pandemic and because of necessary actions taken in regard with social distancing, increased the number of employees working from home and companies expect this trend to be long-term. The market is restrained by the growing number of cybersecurity threats from hackers, privacy concerns, lack of understanding of cloud computing among employees, high overhead costs.
Cloud System Management Market: By Component
Based on components, the cloud system management market is segmented into IT operations management [ITOM], IT automation and configuration management [ITACM], and IT service management [ITSM]. The IT operations and management segment is analyzed to be on the top of the list for having the largest share in the market. IT operation and management ensure that the infrastructure and operations that are required to push the application to customers are functioning smoothly. ITOM comprises the tools that are required to manage the storage capacity, performance, and availability of the application’s network, computing power, and environment.
Cloud System Management Market: By Deployment Model
Based on the deployment model, the cloud system management market is segmented into on-premises and cloud. The on-premises segment is analyzed to be on the top of the list for having the largest share in the market. Although cloud-based models are cheaper, companies prefer on-premises as it offers increased security options. Companies that deal with highly sensitive data like banking and finance and government organizations require a high level of security and privacy that cannot be provided by the cloud are major drivers of this segment. On-premises systems give companies greater control over where their data has been stored.
Cloud System Management Market: By Organization Size
Based on the organization size, the cloud system management market is segmented into small & medium enterprises and large enterprises. Small and medium enterprises are analyzed to be on the top of the list for having the highest CAGR value in the market. Small and medium enterprises are turning to cloud networks for their storage and computing power needs to be cheaper as they can avoid the high overhead costs involved. They are also increasingly looking to Infrastructure-as-a-service vendors instead of having an in-house IT department as it would be cheaper and increases their profitability.
Cloud System Management Market: By Verticals
Based on verticals, the cloud system management market can be segmented into banking, financial services, and insurance (BFSI), telecommunications, IT, government and public sector, retail and consumer goods, energy and utilities, media and entertainment, among others. The IT is analyzed to be on the top of the list for having the largest share in the market. These companies have been turning to cloud systems to reduce the costs involved and increase their revenues. The growing number of workers working remotely and employees using their own devices are all expected to contribute to the massive growth of this segment during the forecast period.
Cloud System Management Market: By Region
The North American region is analyzed to be on the top of the list for having the largest share in the market. The large penetration of cloud systems, the large number of cloud system management vendors, the large number of research and development activities in the region are major drivers for the cloud system management market in the region. The large number of firms that are turning to cloud systems in the region as they look to outsource various departments, large e-commerce market, the region’s dominance as technology leaders, and the increased adoption of cloud-based technologies are all contributing to the growth of the cloud system management market in the region. The APAC region is analyzed to be on the top of the list for having the largest highest CAGR value in the market. A large number of cloud system management vendors, outsourcing of IT services to this region from other regions, presence of a large number of skilled workforce, growing adoption of cloud technology in the region, the rise of e-commerce in recent years, rising urbanization levels, industrialization, and government regulations that favor digital growth are all expected to increase the demand for cloud system management in the region.
Cloud System Management Market: Share & Competitor Analysis
Microsoft (US), VMware (US), IBM (US), BMC Software (US), Cisco (US), New Relic (US), Service Now (US), Splunk (US), Dynatrace (US), Google (US), Datadog (US), Micro Focus (UK), Broadcom (US), Oracle (US), AWS (US), Science Logic (US), Flexera (US), Puppet (US), Turbonomic (US), HPE (US), Apptio (US), Densify (US), Chef (US), and Riverbed (US),among others, are the major players in the cloud system management market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Cloud System Management Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Cloud System Management Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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