The North America multi-cloud management market is expected to grow from US$ 2,918.96 million in 2022 to US$ 12,726.39 million by 2028. It is estimated to grow at a CAGR of 27.8% from 2022 to 2028.
Surge in Need to Avoid Vendor Lock-in is Driving the North America Multi-Cloud Management Market
Vendor lock-in refers to a situation wherein an organization wants to transfer its business from one of its current vendors but cannot do so due to various reasons, such as projected cost, duration, and complexity of switching.
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Avoiding vendor lock-in is the most frequently mentioned among the many benefits of a multi-cloud strategy. As per a survey conducted by Stratoscale, more than 80% of businesses expressed moderate anxiety about being tied to a single public cloud platform. However, adopting multi-cloud management can help avoid such instances, which are among the basic needs of some organizations. A multi cloud approach reduces dependence on any single vendor, enables vendor diversification, and prevents lock-in. This is important for enterprises to ensure that they can adopt the most relevant platforms for their business objectives and move among cloud stacks as needed. Due to the multi-cloud approach, end customers can now switch between several providers, which lessens their reliance on a single supplier. This relative independence encourages customers to haggle with merchants for lower prices. Service level agreements (SLAs) for multi-cloud management services provide data deployment flexibility and permit end users to migrate their workloads to different clouds as needed. End users can also utilize multi-cloud management systems to manage complicated applications across several heterogeneous cloud platforms to benefit from the highest level of independence. Because of the abovementioned factors, multi-cloud management removes vendor lock-in and permits easy switching between vendors. Thus, the elimination of vendor lock-in ability by multi-cloud management contributes to theย North America Multi-Cloud Management Market growth.
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BMC Software, Inc.
CISCO, INC.
IBM Corporation
VMware, Inc.
Micro Focus
Snow Software
UnityOneCloud
Dynatrace LLC
Flexera
Zerto Ltd. (HPE)
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Author: Akash Gharge
๐๐๐จ๐ฎ๐ญ ๐๐ฌ: Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
