Enterprises are striving to achieve cloud potential through hybrid and multicloud strategies, resulting in fundamental shifts in application management paradigms. These shifts include:
- Organizations, on average, have 127 applications in their portfolio and intend to grow their application portfolio nearly 40% between 2020 and 2025*
- Organizations have 40% of their application portfolios hosted on cloud today. In five years, it is predicted that this percentage will climb to 50%, representing a 25% growth rate in applications hosted on cloud*
- 68% of organizations spend 50–75% of their application development budget on legacy applications*
Managing applications in a hybrid cloud world is complicated with enterprise portfolios residing both on-prem and across different clouds. Traditional ways of application management are ineffective, costly and uncompetitive. Enterprises are rethinking their approach and capitalizing on modern capabilities for driving innovation, efficiency and resiliency into their application management practices.