According to a new research report titled, "Multi-Cloud Management Market by Platform, Application (Metering & Billing, Infrastructure & Resource Management), Service Type (Cloud Automation, Migration & Integration), Deployment Model, Vertical, and Region - Global Forecast to 2022",  published by MarketsandMarkets™, the multi-cloud management market size is expected to grow from USD 1,169.5 million in 2017 to USD 4,492.7 million by 2022, at a compound annual growth rate (CAGR) of 30.9% during the forecast period.

The demand for the multi-cloud management market is said to be driven by many factors, such as the avoidance of vendor lock-ins, increased agility and automation, and the need for a high-level of governance and policies. With the increase in the adoption rate of cloud computing among enterprises, the multi-cloud management market is expected to gain a major traction during the forecast period.

Internal brokerage enablement platform is expected to hold the largest market share during the forecast period

Internal brokerage enablement is a group of mainframe and virtualized resources, which can only be accessed by organizations or enterprises over a secured intranet. The increasing employee demand within organizations, for having a single point of access to all the cloud services, ranging from externally provided cloud services, such as Software-as-a-Service (SaaS), to internally operated virtualized infrastructure and application services, is expected to result as a driving force for the growth of the internal brokerage enablement segment.

Cloud automation service type is projected to hold the largest market share in 2017

Cloud automation is a cloud management service that is offered by the cloud vendors to enterprises for automating the management of cloud-based services. Cloud automation, within the multi-cloud environment, enables enterprises to manage the complete deployment lifecycle and usage of cloud services on public, private, and hybrid clouds. The benefits offered include rapid deployment, increased staff efficiency, reduced cost of maintenance, improved responsiveness to endusers, optimum resource utilization, and increased quality.

Telecommunications and Information Technology-enabled Services (ITES) vertical is projected to hold the largest market share during the forecast period

Telecommunications and ITES is one of the most significant verticals in the multi-cloud management market. Multi-cloud services and solutions are used in this vertical for various on-demand services, depending on the call detail records (CDRs). The telecommunications and ITES vertical is said to be gaining worldwide importance in the cloud service adoption, as many communication service providers are giving importance to customer experience.

North America is expected to hold the largest market share in 2017

North America is estimated to hold the largest market share in 2017, while APAC is projected to be the fastest-growing region. North America is the most mature market in terms of cloud adoption, due to various factors, such as standards regulation, advanced IT infrastructure, presence of a large number of enterprises, and the availability of proficient technical expertise. The US and Canada are the top countries in North America that are said to be contributing to the growth of the Multi-Cloud Management Market.

The major vendors providing multi-cloud management solutions and services are BMC Software (US), CenturyLink (US), Accenture (Ireland), VMware (US), DoubleHorn (US), RightScale (US), CliQr (US), Cloudyn (Israel), Dell Technologies (US), Jamcracker (US), IBM (US), and Citrix (US).