NEW YORK, Nov. 8, 2016 /PRNewswire/ -- Reportlinker Review is a series of posts featuring Innovations, Social and Economic Megatrends to understand the World of Tomorrow. Each post is illustrated with statistics for one industry. Reportlinker Review in a nutshell
Cloud providers need new systems to adapt to changing market
How is the market? The multi-cloud management market size is estimated to reach $939.3 million this year, MarketsandMarkets forecasts. By 2021, the market will reach $3.4 billion, growing at a compound annual growth rate (CAGR) of 29.6%. This year the largest market is North America. The region has been actively switching to cloud services and has a high Internet penetration. Asia-Pacific, however, is forecasted to experience the greatest future growth. Growth is attributed to an increase in automation and the avoidance of vendor lock-ins. Application portability is the market's greatest challenge. The largest service market is task migration and integration. This segment is subdivided into the performance management, storage management and project management markets. VMware announced a new hybrid cloud operation service, Cross Cloud Services, at VMworld Europe 2016. The service is under the banner of VMware's Cross Cloud Architecture and comprises VMware Cloud Foundation and VMware Cross Cloud Services. It is designed to allow IT departments to run, manage, and secure, both on- or off-premises, traditional and modern applications. It is the world's most complete and capable hybrid cloud architecture, according to VMware. VMware expects the service will be used by companies that do not wish to build a data center. It expects the first adopters will be the financial, healthcare and energy industries.