Enterprises are striving to achieve cloud potential through hybrid and multicloud strategies, resulting in fundamental shifts in application management paradigms. These shifts include:
- An estimated growth of 68% in spending between 2018 and 2022 driven by the cloud shift across key enterprise IT markets.¹
- Currently, less than 20% of applications are in the cloud, and this proportion is expected to increase, resulting in both hybrid and multicloud adoption.²
- Yet, an estimated 90% of current applications will still be in use in 2023, with insufficient modernization efforts.¹
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.