Asia Pacific Multi-cloud Management Market Size, Share & Trends Analysis Report By Solution (Security & Risk Management, Training & Consulting, Cloud Automation), By Enterprise Size, By End-use, By Country, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The Asia Pacific multi-cloud management market size was estimated at USD 1.87 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 30.9% from 2023 to 2030. The APAC multi-cloud market is expanding due to numerous factors, including cost optimization, automated workflow-enabled operations, reliable services, and avoiding vendor lock-in. Furthermore, secret centralization to store sensitive data such as passwords, strict access controls, and zero trust security to secure multi-cloud remote access are the biggest opportunities in the multi-cloud management market.

Organizations in Asia Pacific are adopting hybrid and multi-cloud strategies to leverage the benefits of multiple cloud platforms. This trend is driven by the need for flexibility, scalability, and cost optimization. Organizations are seeking ways to optimize their cloud costs and efficiently manage cloud resources. Multi-cloud management solutions offer features such as resource monitoring, workload optimization, and cost analytics, enabling organizations to optimize their cloud spending. These factors are anticipated to drive the demand for multi-cloud management solutions.

Increasing government initiatives toward adopting multi-cloud solutions across the region are anticipated to propel market growth in the Asia Pacific region. For instance, in March 2022, the Ministry of Electronics and Information Technology (MeitY) introduced the India Enterprise Architecture (IndEA) framework, which focuses on adopting multi-cloud and hybrid cloud architectures for government organizations. Furthermore, in October 2021, The Australian Government launched the Cloud Services Certification Program (CSCP) to streamline the certification process for cloud service providers, promoting trust and security in multi-cloud environments.

The Asia Pacific region has witnessed significant cloud adoption across various industries including healthcare, media & entertainment, and government, among others. The need to manage and integrate multiple cloud environments is fueling the demand for multi-cloud management solutions. The proliferation of IoT devices and the growing adoption of big data analytics require robust and scalable cloud infrastructure. Multi-cloud management solutions enable organizations to manage their IoT deployments and handle large-scale data analytics efficiently. Organizations want to avoid being tied to a single cloud provider, leading to the adoption of multi-cloud strategies.

Asia Pacific economies, such as China, India, and Southeast Asian countries, are experiencing steady economic growth. This growth and increased IT spending create opportunities for expanding the multi-cloud management market. Furthermore, multi-cloud management solutions provide the ability to integrate and manage resources from different cloud providers seamlessly, reducing vendor lock-in risks, and are anticipated to drive demand over the forecast period.

However, multi-cloud systems have challenges, such as inconsistent technologies, skills, and controls. To standardize and streamline operations, organizations need to identify the appropriate tools. Organizations will need to use infrastructure automation tools and decide whether to buy and run solutions themselves, but as a service, or build from scratch to address critical operational challenges and become future-ready by avoiding waste, cutting complexity, and limiting budget losses.

Solution Insights

The cloud automation segment accounted for the largest market share of over 25% in 2022. Cloud automation refers to the tasks enterprises use to eliminate tedious and time-consuming manual processes of operating resources and parts of the cloud. To enhance the focus of the IT team on critical aspects of the projects rather than managing cloud resources manually, businesses are investing significantly in cloud automation technology, contributing to the segment's growth. Pertaining to multi-cloud management, cloud automation is often referred to as cloud orchestration, as it combines multiple processes, tools, and APIs that organizations use in their cloud environment.

Security & risk management is expected to emerge as the fastest-growing segment over the forecast period. The multi-cloud approach allows organizations to fail over workloads from one public cloud to another in case of an unexpected service failure. Organizations can use cloud-based disaster recovery solutions to tailor their failover models based on application-specific requirements by utilizing trade-offs between cost and performance.

Enterprise Size Insights

The large enterprise segment accounted for the largest market share of over 57% in 2022. A multi-cloud strategy enables businesses to select the cloud services most effectively to meet their unique needs from various cloud offerings. Adopting multi-cloud gives businesses additional options rather than relying just on infrastructure, supplemental services, and pricing provided by a single cloud provider. To reduce latency and enhance performance indicators, businesses can choose a cloud provider with data centers closer to their clients.

The SMEs segment is expected to register the fastest CAGR over the forecast period. SMEs across the APAC region are integrating cloud-based company services into their platforms and solutions as it’s simple to use and cost-effective, which improves startups' traditional innovation journey, which includes testing, prototyping, iterating, and fast response to the client's needs. Firms can operate cost-effectively and with a high degree of flexibility because expensive capital expenditure for hardware can be avoided. These benefits are especially advantageous for early-stage firms from scaling quickly as their user bases grow and meet peak demand. Instead of reinventing the wheels of fundamental computing services, startups that build on the established technological stack of cloud services can concentrate on their primary innovations.

End-use Insights

The BFSI segment accounted for the largest market share of over 25% in 2022. Growing customer demands for seamless experience enables organizations to adopt multi-cloud technology that provides enhanced flexibility and agility for accessing critical banking information or upgrading customer service experience. The technology allows organizations to update systems without downtime, process transactions faster, and detect and prevent suspected fraud cases in real time. Owing to these benefits, the demand for multi-cloud management technology is increasing significantly across various industries.

For instance, in October 2022, Deutsche Bank partnered with Kyndryl, an IT company, to assist with its emergence and development. Through the expanded partnership, Kyndryl included automation and encryption technologies to support Deutsche Bank's vital financial infrastructure. The IT and core banking infrastructures for Continental Europe at Deutsche Bank will continue to be operated by Kyndryl. With the new technology, the bank was able to offer services and scalability on-demand across the world. Thus, a significant rise in the adoption of multi-cloud management is observed across the banking sector, giving numerous opportunities to the stakeholders over the forecast period.

The healthcare segment is anticipated to register the highest CAGR over the forecast period. Multi-cloud computing supports a push toward data automation, streamlining the intake data and discharge processes, and helps eliminate the need for offline processes. For instance, in March 2022, Accenture collaborated with Microsoft to support Mount Sinai Health System, a New York-based hospital network, with its cloud migration to foster innovation at a faster rate. Mount Sinai modernized its infrastructure to reinvest cost savings and concentrate on its healthcare mission. Accenture worked with Mount Sinai Health System to develop and securely implement its clinical application migration strategy to the cloud, including the Epic electronic health records system. Microsoft offered quality control services throughout the Azure conversion process at its illustrious academic institution.

Key Companies & Market Share Insights

Mergers & acquisitions, strategic partnerships, and new product launches are turning out to be the most effective ways for market players to gain quick access to emerging markets. For instance, in March 2023, Cloud Kinetics, a Singapore-based AWS Managed Service Provider, announced to strengthened partnership with Snowflake, the Data Cloud company. Through the partnership, both companies focus on providing Data Migration and Modernization service suites for businesses in Southeast Asia. Also, through the partnership, Snowflake is expanding its operations in Jakarta, Indonesia. Some prominent players in the Asia Pacific multi-cloud management market include:

• Alibaba Group Holding Limited

• Amazon.com Inc.

• Baidu, Inc.

• Google LLC (Alphabet Inc.)

• Huawei Technologies Co., Ltd.

• International Business Machines Corporation

• Microsoft Corporation

• Oracle Corporation

• Tencent Cloud

• Trianz

Asia Pacific Multi-Cloud Management Market Report Scope

Asia Pacific Multi-cloud Management Market Report Segmentation

This report forecasts revenue growth at the country levels and analyzes the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Asia Pacific multi-cloud management market report based on solution, enterprise size, end-use, and country:

• Solution Outlook (Revenue, USD Million, 2018 - 2030)

  • Security & Risk Management

  • Training & Consulting

  • Reporting & Analytics

  • Cloud Automation

  • Managed Services

  • Others

• Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

  • Small & Medium Enterprise (SME)

  • Large Enterprise

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • BFSI

  • IT & Telecom

  • Consumer Goods & Retail

  • Manufacturing

  • Healthcare

  • Media & Entertainment

  • Government

  • Others

• Country Outlook (Revenue, USD Million, 2018 - 2030)

  • China

  • Japan

  • India

  • Australia

  • South Korea