Multi-cloud Market Overview

Multi-cloud market size is projected to reach $11.2 billion by 2026, and it is estimated to grow at around CAGR 30.8% during 2021-2026. Increasing penetration of Industry 4.0 and growing adoption of digital age technologies such as Internet of Things (IoTs), big data, cloud computing, cloud automation, Artificial Intelligence (AI), Machine Learning (ML) are estimated to be the key factors driving the Multi-cloud Market during the forecast period. The rising adoption of software as a service among enterprises due to its pay-per-usage model has contributed to the growth of Multi-cloud Market. The growing demand for reducing reliance on a single cloud provider to mitigate the risks associated with vendor lock-ins, downtime or potential data loss is set to drive the market. The transition of various enterprises towards digitalization to generate new business outcomes ensuing cloud security and compliance management has contributed to the growth of the market. For instance, IBM Institute for Business Value estimates 85% of the enterprises have already adopted multi-cloud infrastructure and by 2021, 98% of the enterprises will use multi-cloud strategy. Further, the study confirmed Return on Investments (ROI) derived from a fully hybrid, multi-cloud platform technology is 2.5 times of the value derived from single cloud vendor approach and thus accelerating the adoption.

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Report Coverage

The report: “Multi-cloud Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Multi-cloud Market.

By offering: Software, Service (Design & Deployment, Data Security & Risk Management, Integration & Migration, Monitoring & Access Management, Reports & analytics, Support & Maintenance, Training & Consultancy, others)
By deployment model: public, private, hybrid
By organization size: large enterprises, micro/ small/ medium enterprises
By application: Operational automation, Identity & Policy Management, Lifecycle Management, Asset Management, Compliance Management, Provisioning, Metering & Billing, Infrastructure & Resource Management, others
End user: Industrial (automotive, aerospace & defense, IT & Telecommunications, Banking & finance (BFSI), power, utilities, Healthcare, Food & beverages, retail, transportation & logistics, others), Commercial (Hotels & restaurants, shopping malls, smart office buildings, stadiums, Media, Entertainment, others)
By Geography: North America (U.S., Canada and Mexico); Europe (U.K., Germany, Italy, Spain, Russia, France, Rest of Europe); APAC (China, Japan, South Korea, India, Australia, Rest of APAC); South America (Brazil, Argentina, Rest of South Americas); RoW (Middle East & Africa)

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Key Takeaways

• Service segment is anticipated to dominate the market with a CAGR 7.8% from 2021 to 2026 due to rising demand for controlling cost and configuration of digital businesses with more transparency.
• APAC is estimated to be the fastest growing market with a CAGR 9.3% during 2021-2026 owing to higher investments towards up-gradation of advanced technologies.
• BFSI sector is estimated to be the fastest growing market with a CAGR 10.7% from 2021 to 2026 due to growing adoption of software as a service model.
• Increasing penetration of Industry 4.0, Internet of Things and less reliability on single cloud vendor are set to drive the market during the forecast period 2021-2026.
• Data security issues are analyzed to be one of the major challenges to impede the market growth during 2021-2026.

Global Multi-Cloud Market Value Share, By Region, 2020 (by %)

Multi-cloud Market Segment Analysis – By Offering

By offering, Multi-cloud market has been segmented into software and services. Service segment has dominated the market acquiring a share of 56% in 2020 and is estimated to hold the largest market share with the fastest growing CAGR 7.8% during the forecast period 2021-2026 owing to increasing demand for controlling cost, usage and configuration of digital businesses with more visibility. The distribution of workloads across various cloud platforms enables enterprises to run applications in a more efficient manner and contribute flexibility to access data in a more simplified way. Multi-cloud management services enable enterprises to optimize cost, protect IT environment from potential security threats and streamline operations coupled with rapid progress in developments. In July 2020, Fortinet launched cloud to cloud SD WAN solutions to expand multi-cloud applications such as disaster recovery, product lifecycle management. In December 2020, Teradata announced to expand it’s multi-cloud capabilities for timely and cost effective analytics. Such developments and advancements are analyzed to propel the market growth during 2021-2026.

Multi-cloud Market Segment Analysis – By End User

By end user, Multi-cloud market has been segmented into industrial and commercial sectors. The industrial sector is estimated to account for the largest market share of 46% during 2021-2026. Among industrial sectors, IT and Telecommunications held the largest market share of 16% in 2020 and is estimated to dominate the market with a CAGR 9.2% during 2021-2026 owing to the rising adoption of multi-cloud strategy by leveraging two or more cloud computing platforms to use several resources from various vendors to get the best solution from each unique service. According to reports, in December 2020 IBM acquired Nordcloud, a multi-cloud consulting firm to expand their multi-cloud strategy. Such acquisitions are set to drive the market. BFSI sector is estimated to be the fastest growing market with a CAGR 10.7% owing to increasing convergence of BFSI sector with digitalization to deliver reliable, secure and seamless services to achieve enhanced customer experience. Increasing adoption of cloud automation among BFSI sector to automate manual tasks associated with managing cloud based IT infrastructure while ensuring cloud security and compliance management is anticipated to drive the market between 2021 and 2026. According to reports, Multi-cloud architecture is analyzed to be the accelerator of digitalization in banking sector as the organizations can choose the best fit from several IaaS, PaaS and SaaS offerings from multiple service providers for their digital business strategies.

Multi-cloud Market Segment Analysis – By Geography

By Geography, Multi-cloud market has been segmented into North America, Europe, APAC, South America and RoW. North America dominated the Multi-cloud market in 2020 acquiring a share of 32% and is estimated to hold the largest market share with a CAGR 8.4% during 2021-2026 owing to well established IT infrastructure and high investments in up-gradation of advanced digital technologies. APAC is estimated to be the fastest growing market with a CAGR 9.3% during the forecast period 2021-2026 owing to rapid digitalization in this region. South-East Asia is analyzed to be the hot-zone for establishing manufacturing hubs during 2021-2026. The increasing adoption of cloud-based applications in various industry verticals across this region for real-time applications is estimated to boost the market. According to survey, India is estimated to witness a three-fold growth in e-commerce, 33% growth in digital banking. Moreover, Indian Government has launched “Digital India” movement which is analyzed to boost the market in the country.

Multi-cloud Market Drivers

Increasing adoption of Industry 4.0 is set to drive the market

Increasing penetration of Industry 4.0 promotes the convergence of Information Technology (IT) with Operational Technology (OT) to increase flexibility, agility and efficiency in the production process through connected systems and sharing data. Analysis of real-time data for efficient and accurate quality control and predictive maintenance is analyzed to stimulate the market during 2021-2026. Adoption of multi-cloud is analyzed to be the accelerator of digital transformation across various industry verticals by leveraging sensors, Robotics, Artificial Intelligence. The demand for multi-cloud infrastructure is estimated to gain a huge traction during the forecast period 2021-2026 owing to growing demand for increased operational efficiencies and infrastructure maintenance while minimizing the dependency on a single cloud provider. In November 2020, Multi-cloud service specialist Linkbynet has announced expansion to serve the massive growing luxury e-commerce market and such expansions are set to drive the market during 2021-2026.

Growing reliability on Multi-cloud strategies over single cloud vendor is catalyzing the market growth

Vendor lock-in is a feature of single-cloud platform which is accelerating the transformation from single-cloud to multi-cloud platform. When organizations choose individual cloud service, the vendors streamline the process of migration of workloads to their clouds in such a complex way, so that it becomes too expensive and critical for the customers to leave. Multi-cloud allows organizations to mix and match platforms, avoiding vendor lock-in and thus enterprises don’t have to rely on single cloud vendor. The multi-cloud infrastructure also enables the closest data centers to provide the requested data to end users with minimum delay. Multi-cloud services allow the organizations to use different platforms to determine the best fit for their business without compromising with their business demands. These advanced capabilities, functionalities and benefits are set to drive the market during 2021-2026. In September 2020, National Archives and Records Administration (NARA) announced to shift in the process of multi-cloud acquisition strategy to accommodate and modernize the storage of increasing volume of digital records received from other federal agencies. Such developments are analyzed to drive the market.

Multi-cloud Market Challenges

Data security issues is impeding the market growth

Enterprises that adopt Multi-cloud face security and privacy issues and thus hampering the adoption. Enterprises hold confidential data, which needs to be protected to avoid data breaches and cyber-attacks. There are security issues in multi-cloud infrastructure as third party holds the enterprise data and unauthorized personnel can forcefully access it. Protection needs to be applied at the workload level, in the multi-cloud system, containers and virtual machines pass freely among private and public infrastructure, breaking down the notion of a network perimeter. However, significant investment on cloud cyber security and cyber-hygiene is set to offset this challenge and promote healthy growth during the later stages of the forecast period 2021-2026.

Multi-cloud Market Landscape

Product innovations, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Multi-cloud market. In 2020, the market of Multi-cloud industry outlook has been fragmented by several companies. Multi-cloud top 10 companies include

1. BMC software
2. Accenture PLC
3. VMware Inc.
4. Dell Technologies
5. Agile stacks Inc.
6. IBM Corporation
7. Centurylink
8. Citrix systems
9. Double horn
10. Cloud more

Acquisitions/Technology Launches

• In October 2020, VMware launched vRealize for software as a service on private deployment mode. VMware also announced CloudHealth Secure State is now upgraded with advanced features to monitor real-time applications for Google cloud, AWS and Microsoft azure cloud platforms.
• In June 2020, Agile Inc. announced it provides multi-cloud supports on Google Cloud, Red hat Openshift and Microsoft Azure platform.
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Relevant Report Titles:

Multi-cloud Management Market

Report Code: ITR 52518

Cloud Integration Market

Report Code: ITR 0043

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 Enterprise Content Management Market Overview:

With the advent of digital tools, several enterprises are adopting cost-effective, eco-friendly, and automated file and document management services to restrict the loss of information and usage of paper. Enterprise content management (ECM) provides a new arena for establishing an effective relationship between entrepreneurs and customers through automated processes for monitoring and structurally organizing various official contents. With scope for preserving and archiving necessary documents for future reference facilitating e-file services without the risk of being lost, enterprise content management is gaining wide acclamation globally. Along with record management (ECRM), cloud computing services, enterprise content management solutions increase the productivity in work procedures with a well-track of contents. Owing to the increasing demand for high-quality enterprise content management software the global ECM market experienced notable opportunities worth $34.64 billion in the year 2018. The CAGR for this increased demand is evaluated to grow at 15.89% through to 2025.

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With well-established IT community and newer innovation in software development offers a promising future for various businesses in the United States. As a hallmark of technological advancement, North American business market is going green by widely adopting cloud-based enterprise content management system which offers data security, document management and collaboration record and web content management, and many more features. North America held a regional share of 38.67% as of 2018. Banking, financial services and insurance (BFSI) industry generates the largest demand pull on the global enterprise content management market which is projected to grow at a considerable CAGR of 19.37% during the forecast period of 2019-2025.

Enterprise Content Management Market Growth Drivers:

· Facilitating secure data and document storage, ECM market growth is majorly influenced by various industrial sectors such as IT and telecom, healthcare and BFSI industry, and government facilities.

· With a higher preference for paperless documentation and increasing globalization also encourages the ECM market demand leading to huge revenue generation.

Enterprise Content Management Market Key Players:

The global enterprise content management market leaders includes Dell EMC, Microsoft, Oracle, Alfresco, Newgen, Laserfiche, HP, Opentext, Hyland, IBM, Xerox, M-Files, and others.

Microsoft and Oracle are among the leading IT companies in the world. These two multinational technology companies have collaborated together to offer cloud computing services with greater flexibility for their customers. They provide a wide range of services such as content organization, publication, management, and conversion through features such as Digital Asset Manager, Site Studio Publishing Utility, Content Tracker, SharePoint, and many more.

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Enterprise Content Management Market Trends:

· To ensure workflow automations along with cost-effective data storage, access, and scalability performance, ECM collaborates with AI techniques to offer time efficient solutions as well as multi-user interface due to cloud services.

· Moreover, with the benefits of artificial intelligence companies will be able to reduce their expenditure on in-house or outsourced R&D methods. This plays a vital role in shaping the modern content market globally.

Enterprise Content Management Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Enterprise Content Management market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Enterprise Content Management in Enterprise Content Management market, and their specific applications in different areas.

Enterprise Content Management Market: Industry Coverage:

The global enterprise content management market can be segmented by solution, service, deployment type, organization size, business function, and vertical. Bifurcation on the basis of solution includes content workflow, document management, imaging and capturing, web content management, records management, digital asset management, mobile content management, case management, and e-discovery. Service categorization includes implementation services, training and education, support and maintenance, and others. By deployment type, this market can be divided into cloud and on-premises. Based on organization size segmentation includes small and medium-sized enterprises and large enterprises. Business function classification includes accounts and finance, human resources, supply chain management, operations, marketing, and so on. Sub segments under vertical comprises banking, financial services, and insurance, government, manufacturing, telecom and IT, consumer goods and retail, healthcare and life sciences, energy and utilities, transportation and logistics, and others.

The Enterprise Content Management market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study includes:

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•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia

GDPR Services Market Overview

GDPR Services Market is analysed to grow at a CAGR of 16.21% during the forecast 2022-2027 to reach $10.34 billion by 2027. General data protection regulation (GDPR) is a legal framework which includes set of guidelines for the collection, processing, data discovery and personal data protection. Growth of enormous amount of data owing to the deployment by cloud service providers coupled with increasing demand for data security that offers automated decision making and pseudonymising solutions are analysed to be the major driving factor for the GDPR Services Market size during the forecast period. For instance, according to the report given by IBM Corporation, it is revealed that the healthcare and social services sectors currently have the highest volume of weekly attacks, closely followed by the transportation and hospitality sectors. This tend to bring significant growth in its demand, further propelling the GDPR Services industry in the global market.

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GDPR Services Market Report Coverage

The report: “GDPR Services Industry Outlook – Forecast (2022-2027)”, by Industry ARC covers an in-depth analysis of the following segments of the GDPR Services Market.

By Offering: Solutions (Data Discovery and Mapping, Data Governance, API Management and Others) and Services (GDPR Readiness Assessment, Risk Assessment and DPIA, DPO-as-a-Service, Managed Services and Others).

By Deployment Mode: On-Premises and Cloud.

By Organization Size: Small and Medium Enterprises (SMEs) and Large Enterprises.

By End-Use Industry: Banking, Finance Services and Insurance (BFSI), Government & Public Sector, Energy & Utilities, Healthcare, IT & Telecommunication, Manufacturing, Academic & Research, E-commerce and Others.

By Geography: North America (U.S., Canada and Mexico); Europe (U.K., Germany, Italy, France, Spain, Russia, Rest of Europe); APAC (China, Japan, South Korea, India, Australia, Rest of APAC); South America (Brazil, Argentina, Rest of Americas); Row (Middle East & Africa).

Key Takeaways

• Increasing cyberthreats across various enterprises and growing adoption of cloud-based services for optimizing industrial digitalization is analysed to significantly drive the GDPR Services Market during the forecast period 2022-2027.

• Solutions segment are analysed to hold highest share 61.12% in 2021 owing to the wide range of enterprise applications, as it offers for adopting Industry 4.0 across the globe.
• IT & Telecommunication industry is analysed to hold the highest market share 31.21% during the forecast period owing to the large amount of data generated across this vertical which propels the demand of GDPR services for efficient working across the enterprise.
• Europe is analysed to hold the highest share in 2021 owing to the adoption of various IT laws coupled with increasing implementation of Industry 4.0 in this region.
  

  Global GDPR Services Market Share, By Region, 2021 (%)

  
  

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GDPR Services Market Segment Analysis - By Offering

By Offering, the GDPR Services Market Report is segmented into Solutions (Data Discovery and Mapping, Data Governance, API Management and Others) and Services (GDPR Readiness Assessment, Risk Assessment and DPIA, DPO-as-a-Service, Managed Services and Others). Solutions segment is analysed to be the highest growing segment with a CAGR of 19.11% in GDPR Services Market during the forecast period 2022-2027 owing to the to the wide range of enterprise applications it offers for the successful adoption Industry 4.0 across the globe. Solutions offered by GDPR Services consist of Data Discovery and Mapping, Data Governance and API Management among others which holds a strong position in the business development of various enterprises. For instance, In January 2020, Black Penny Consulting, a City of London-based digital transformation shop, developed the Compliance Space which was designed to replace time-consuming spreadsheets with a more intuitive software interface that will make compliance management more effective and efficient incorporating real-time legislative updates. These features tend to elevate the demand of GDPR Services in solutions segment, further propelling its market growth.

GDPR Services Market Segment Analysis – By End-Use Industry

By End-use Industry, the GDPR Services Market Report is segmented into Banking, Finance Services and Insurance (BFSI), Government & Public Sector, Energy & Utilities, Healthcare, IT & Telecommunication, Manufacturing, Academic & Research, E-commerce and Others. Healthcare sector is analysed to be the highest growing segment with a CAGR of 21.31% among other industries of GDPR Services Market during the forecast period 2022-2027, owing to the growing demand of efficient, smooth functioning and secured cloud-based solutions in this sector.  Cloud-based solutions offer wide range of benefits to the healthcare sector such as easy access to medical records, huge data storage, scalability, remote patient care and many others, however, the vulnerability and exposure to diverse cyber-attacks for gaining personalized health status is highest in this sector. For instance, according to the European Telecommunications Network Operators Association (ETNO), the number of IoT units in healthcare in the European Union (EU) is expected to increase year-on-year with a growth rate of 11.9%, hence driving the adoption of GDPR services in Healthcare industry.

GDPR Services Market Segment Analysis – By Geography

Europe is analysed to be the major region with a share of 33% in 2021 for the GDPR Services Market owing to the adoption of various IT laws coupled with increasing implementation of Industry 4.0 in this region. For instance, European privacy authorities have received nearly 65,000 data breach notifications since the EU's new privacy law went into full effect. In the United Kingdom, the number of data breach notifications has dropped by 17% to 11,499. In contrast, numbers almost doubled in France, with a 97% increase to 2,287, and soared in Spain, reporting 1,608 notifications, representing a 58% increase compared to the first year of the adoption of GDPR. This tend to bring significant growth in the demand for GDPR services in this region. Moreover, Europe region is witnessing huge demand for IoT connected cars. This car consists of individual data from which a person can be tracked. With the GDPR being affected in the region, for the companies in various end-users that deploy connected solutions, it has become necessary to secure the user's data which is anticipated to drive the demand for the GDPR services in this region, further driving its market growth during the forecast period.

GDPR Services Market Drivers

Rising government initiative to safeguard IT sector from cyber threats is driving the demand of GDPR Services

Rising government regulations across the globe by implementation of IT laws to safeguard various enterprises from cyber threats is a major driving factor for the growth of GDPR Services Market during the forecast period. Various countries across the globe are investing significantly in the digitalisation to enhance their work efficiency and flexibility, however, threat of data breaches is always a major concern which tend to drive the adoption of GDPR Services across various industries. For instance, in April 2019, the new Cyber Security Law was introduced by European Union to broaden the existing regulation scope and introduce GDPR-type fines for certain violations. These increase in government regulations and stringency is expected to push the organizations in Germany to adopt cybersecurity solutions, further driving the adoption of GDPR services in this region. Moreover, France introduced major reforms associated with cybersecurity policies such as the telecommunication companies are allowed to scan their networks for technical clues of any anticipated or on-going attack. In some cases, telecom companies may also need to inform their customers of any unwanted cyber-attacks. These policies and initiatives tend to drive the adoption of GDPR Services, further driving its market growth.

Increasing adoption of cloud-based solutions across enterprise ecosystem is propelling the demand of high performance data analytics technology

Increasing adoption of cloud-based solutions across various industries to optimize industrial digitalisation is a major driving factor for the growth of GDPR Services Market during the forecast period. Various countries across the globe are investing significantly in the digitalisation to enhance their work efficiency and flexibility across wide range of industries among which Banking, Finance Services and Insurance (BFSI) sector are of major concern. Gathering huge amount of personalized data and securing it from several data breaches and cyber-attacks tend to bring significant growth in the demand of GDPR Services which tend to drive its market growth across the globe. For instance, according to Tata Consultancy Services (TCS), the GDPR provisions will considerably impact the financial services industry given that banks hold enormous amounts of customer data. With high volumes of transactions across numerous channels, multiplicity of processes, legacy systems and operations across geographies, ensuring GDPR compliance will impact banks’ data management function. This tend to drive its demand, further propelling its market growth.  

GDPR Services Market Challenges

High implementation cost is analysed to hamper the GDPR Services Market growth

One of the most important factor restraining the market growth of GDPR Services Market across the global is its high implementation cost. As the deployment of high performance GDPS services is witnessing considerable growth in various sectors such as BFSI and Healthcare, the cost of development and its integration with enterprise and industrial ecosystem tend to add up to the overall cost which tend to restrain its market growth across various end-use industries. Moreover, GDPR Services requires to be set up at a whole new cloud-based ecosystem which further comes at competitive prices which tend to hinder its market growth across small and medium enterprises. These factors tend to bring major challenges in the GDPR Services Market growth during the forecast period.

GDPR Services Industry Outlook

Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the GDPR Services Market. In 2021, the market of GDPR Services industry outlook has been fragmented by several companies. GDPR Services top 10 companies include

• AWS
• Symphony
• Capgemini
• IBM
• Informatica
• HCL Technologies 
• Key Innovators
• Micro Focus
• Microsoft
• Oracle

Recent Developments

• In January 2020, Microsoft Corporation announced several new assessments available in the public preview of the Microsoft Compliance Score. Leveraging a team of data protection experts using a common control framework of more than 1,000 controls, the company built unique insights into Microsoft Compliance.
• In February 2019, Symphony, the global services firm specializing in Intelligent Automation launched their new General Data Protection Regulation (GDPR) compliance capability by partnering with leading provider of information security and data protection expertise, IT Governance, Symphony will offer global enterprises an end-to-end solution for meeting and maintaining GDPR compliance with greater accuracy, speed and visibility.
• In June 2019, HCL Technologies (HCL), a leading global IT services provider launched their new General Data Protection Regulation (GDPR) services to help organizations comply with EU GDPR regulation. The new GDPR Regulation which is mandated to be adopted is developed to clear policies and procedures to protect personal data and adopt appropriate technical and organizational measures.

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