Cloud management platform Market size was valued at $8.16 billion in 2019, and it is estimated to grow at a CAGR of 15.32% during 2020-2025. The growing trend for Bring Your Own Device (BYOD), and shifting focus toward cloud from on-premises have been providing opportunities for cloud management platform market. Rapid adoption of cloud based platform by IT enterprises and other organizations for improved operational efficiency set to drive the market. Furthermore, the dependence on cloud based solutions across various industry verticals has significantly increased the adoption of cloud platform for faster and customized services. This has been pushing the organizations to invest in cloud platform and this is anticipated to propel the Cloud management platform market growth during the forecast period.

Key Takeaways
North America dominated the Cloud management platform market in 2019 owing to early adoption of advanced technologies and high investments in adopting them.

Growing demand for BYOD devices has been driving the market growth in IT companies and other organizations for high productivity of work in shorter period of time by reducing downtime errors.

Growing trend for digitalization has been pushing enterprises in adopting cloud based platform for maximum flexibility, reducing costs, increase the business agility, and to increase revenue.

The major drawback is the security concerns and lack of skilled expertise for solving the issues hinders the growth of the Cloud management platform market.

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Geography- Segment Analysis
North America dominated the Cloud management platform market in 2019 with a share of 38.56%, followed by Europe and APAC. As the North American countries such as the U.S. and Canada are the early adoption of advanced technologies, there is huge adoption of cloud management platform which is set to drive the market. Most of the key vendors such as Microsoft, VMware, IBM, Cisco, Hewlett Packard Enterprise, Oracle, CA Technologies and other companies have headquarters at U.S. Many U.S. companies have been acquiring other cloud management platform business to strengthen their businesses. For instance, at the end of 2018, Flexera had acquired one of the top multi cloud management provider RightScale to empower its IT services. These are the key factors for the growth of Cloud management platform market in North America.

Drivers –Cloud management platform Market

Increased mobility and growing trend of bring your own device

Increased savings and workforce productivity

Market Landscape: Market of Cloud management platform has been consolidated by the top ten players – Vmware, Microsoft, IBM, Cisco, Hewlett Packard Enterprise, Oracle, Dynatrace, CA Technologies, Micro Focus, Red Hat and others.

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