IMARC Group’s report titled “Cloud Management for the OpenStack Market Report by Type (Public Cloud, Private Cloud, Community Cloud, Hybrid Cloud), End User (IT, Academic Research, and Others), and Region 2024-2032”. The global cloud management for the OpenStack market size reached US$ 3.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.2 Billion by 2032, exhibiting a growth rate (CAGR) of 19.05% during 2024-2032.
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Factors Affecting the Growth of the Cloud Management for the OpenStack Industry:
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- Increasing Demand for Cloud Automation and Management Solutions:
The escalating demand for cloud automation and management solutions across various industries is one of the major factors bolstering the market growth. Moreover, the rising migration of operations to the cloud to achieve scalability, flexibility, and cost-efficiency, boosting the need for OpenStack solutions to automate and streamline cloud operations, is creating a positive outlook for the market growth. Besides this, their increasing adoption as an open-source cloud computing platform that offers a flexible foundation for managing large volumes of computer, storage, and networking resources in a cloud environment is enhancing the market growth. Along with this, their rising ability to automate repetitive tasks, efficiently manage resources, and ensure consistent application deployment across different cloud environments is fueling the market growth.
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- Growing Adoption of Multi-Cloud and Hybrid Cloud Strategies:
The rising adoption of multi-cloud and hybrid cloud strategies by enterprises is providing a thrust to the market growth. It allows businesses to enhance their information technology (IT) flexibility and optimize costs by placing workloads in the most suitable cloud environments. In line with this, cloud management for OpenStack solutions offers a unified management platform that enables seamless management of resources across different clouds while providing visibility, control, and automation capabilities. In addition to this, the growing utilization of OpenStack solutions as they simplify the complexity associated with multi-cloud and hybrid cloud management, enabling businesses to maximize the benefits of their cloud investments, is fueling the market growth.
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- Rising Focus on Security and Compliance:
The rising focus on security and compliance, as enterprises continue to process and store sensitive data in cloud environments, is contributing to the market growth. In line with this, the growing adoption of cloud management for OpenStack solutions, as they provide comprehensive security features and compliance management capabilities, is fostering the market growth. They offer advanced security functionalities, such as identity and access management, encryption, and threat detection, which help safeguard cloud environments against unauthorized access and potential security threats. Additionally, they enable organizations to monitor and manage compliance with various industry regulations and standards, thereby reducing the risk of non-compliance penalties.
Leading Companies Operating in the Global Cloud Management for the OpenStack Industry:
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- BMC Software Inc.
- Cisco Systems Inc.
- Hewlett Packard Enterprise Company
- Micro Focus International plc
- Oracle Corporation
- Red Hat Inc. (International Business Machines Corporation)
- Splunk Inc.
- VMware Inc.
Cloud Management for the OpenStack Market Report Segmentation:
By Type:
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- Public Cloud
- Private Cloud
- Community Cloud
- Hybrid Cloud
Public cloud represented the largest segment due to its scalability, cost-effectiveness, and ease of deployment.
By End User:
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- IT
- Academic Research
- Others
Information Technology (IT) accounted for the largest market share due to its extensive reliance on cloud infrastructure for hosting applications, data storage, and ensuring global connectivity.
Regional Insights:
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- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the market is attributed to the region’s early adoption of cloud technologies, presence of major cloud service providers, and significant investments in cloud infrastructure and services.
Global Cloud Management for the OpenStack Market Trends:
The widespread integration of artificial intelligence (AI) and machine learning (ML) technologies into cloud management solutions for OpenStack to enable predictive analytics for capacity planning, automated problem resolution, and enhanced performance optimization is boosting the market growth. Along with this, the rising focus on edge computing that extends cloud capabilities closer to the data source, necessitating the need for novel management approaches, is enhancing the market growth. Moreover, the growing adoption of containerization technologies in OpenStack environments to provide robust orchestration, security, and monitoring capabilities for containerized applications is creating a positive outlook for the market growth.
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