The global cloud enterprise management market size was valued at USD 20.45 billion in 2020 and expands at a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for infrastructure in enterprises to maintain and monitor the data.
Currently many organizations are in phase of digital evolution; during this process companies require access to three sorts of computing resources that is processing power, computer memory, and data storage.
Enterprise cloud management is just around 15 years old. It all started with the debut of Amazon Web Services (AWS), the first business cloud storage provider, in March 2006.
Enterprise content management (ECM) solutions enable a firm to fully exploit the consumer data and corporate knowledge that is inherent in its content. ECM systems gather, store, activate, analyses, and automate corporate content by bringing previously unstructured and inaccessible data to life.
Cloud management software facilitates and even automates the migration of workloads between private and public clouds, while also keeping track of performance and costs. Multi-cloud administration may be made considerably more efficient with these technologies.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing digital content across businesses, simple access from remote end-points are projected to boost the market during the forecast period
- Rapid growth in the requirement for regulatory compliance, and the necessity to secure company data against disaster are major factors boosting the market.
- Growth & development in data science industry is a key factor anticipated to drive the market during the forecast period.
- Data breach and data leaks are expected to hamper the market growth.
Scope of the Report
The report on the global cloud enterprise management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cloud Enterprise Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Deployment Models (Private Cloud, Public Cloud, and Hybrid Cloud), Solutions (Record Management, Content Management, Workflow Management, Case Management, Digital Asset Management, and Others), Services (Professional and Managed), Organization Sizes (Small & Medium Enterprises and Large Enterprises), End-user Industries (Energy & Power, Manufacturing, Medical & Healthcare, Banking & finance, IT &Telecom, Retail, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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IBM Corporation; Hewlett Packard Enterprise; Microsoft Corp; Oracle Corp; Xerox Corp
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Market Segment Insights
The hybrid cloud segment is projected to hold a large market share
Based on deployment models, the cloud enterprise management market is segregated into private cloud, public cloud, and hybrid cloud. The hybrid cloud segment is expected to account for a key share of the market during the forecast period owing to smooth interaction between the two deployments. In hybrid cloud segment companies get benefited by enabling communication and the data can be easily transferred between public and private clouds.
The record management segment is expected to grow at a robust pace
On the basis of solutions, the cloud enterprise management market is bifurcated into record management, content management, workflow management, case management, digital asset management, and others. The record management segment is expected to represent a key share of the market in the coming years due to rising company’s requirement of cloud as a disaster recovery strategy. However, the workflow management segment is anticipated to expand at a rapid pace during the forecast period owning to companies switching to web-based digital workflows.
The professional segment is anticipated to register rapid CAGR
In terms of services, the cloud enterprise management market is bifurcated into professional and managed. The professional segment is expected to constitute a key share of the market during the forecast period due to high demand for expert teams for effectively managing resources.
The large enterprises segment is expected to grow at a rapid pace
On the basis of sizes, the cloud enterprise management market is segmented into small & medium enterprises and large enterprises. The large enterprises segment is expected to grow at a rapid pace during the forecast period due to rising investment in advanced technologies to leverage their market position. However, the small and medium enterprises segment is anticipated to hold a considerable market share in the projected period.
The banking & finance segment is projected to hold a large market share
Based on end-user industries, the cloud enterprise management market is divided into energy & power, manufacturing, medical & healthcare, banking & finance, it &telecom, retail, and others. The banking & finance segment is expected to constitute a key share of the market in the coming years owing modernization and development in finance operation.
North America is anticipated to dominate the market
On the basis of regions, the cloud enterprise management market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at a high CAGR during the forecast period. The regional market growth can be attributed to advances in content management technology and high internet penetration rate, which contributes to the region's growing bring your own device trend.
Segments
The global cloud enterprise management market has been segmented on the basis of
Deployment Models
- Private Cloud
- Public Cloud
- Hybrid Cloud
Solutions
- Record Management
- Content Management
- Workflow Management
- Case Management
- Digital Asset Management
- Others
Services
Sizes
- Small & Medium Enterprises
- Large Enterprises
End-user Industries
- Energy & Power
- Manufacturing
- Medical & Healthcare
- Banking & finance
- IT &Telecom
- Retail
- Others
Key players
- IBM Corporation
- Hewlett Packard Enterprise
- Microsoft Corp
- Oracle Corp;
- Xerox Corp
Competitive Landscape
Key players competing in the cloud enterprise management market include IBM Corporation; Hewlett Packard Enterprise; Microsoft Corp; Oracle Corp; Xerox Corp.
Some of these players are focusing on business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance.
In June 2019 Microsoft and Oracle collaborate and launched cloud interoperability where enterprises can now link Azure services, such as Analytics and AI, to Oracle Cloud services, such as Autonomous Database, in a seamless manner.
In January 2019 Alfresco and Tech Mahindra, announced their global partnership and the development of new solution frameworks built on the Alfresco digital business platform to meet the needs of today's digital customer by simplifying access, sharing, content creation, and review.
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