The Forrester Wave™: Cloud Cost Management And Optimization Solutions, Q3 2024
The cloud cost management and optimization (CCMO) market continues meteoric growth driven by three areas: 1) public cloud as a necessary part of enterprise infrastructure strategy, 2) slowed economic growth prompting cost-cutting measures and spend justification demands, 3) contraction of hybrid cloud management world, shifting focus from heavy, complex hybrid cloud management solutions to simpler, less expensive CCMO solutions. The market now includes traditional CCMO and hybrid cloud management vendors, plus adjacent vendors from cloud security, observability and monitoring, and multicloud container platforms who are introducing or deepening CCMO capabilities. Managed service providers and global systems integrators are also widening CCMO capabilities with broader tooling vendor support to meet customer demand.
No common features specified.
Vendors must, among other requirements:
A: This research evaluates 12 cloud cost management and optimization vendors across 25 criteria grouped into three categories: Current Offering, Strategy, and Market Presence. It analyzes vendor capabilities in visibility, optimization, unit costs, automation, billing administration, reporting, recommendations, remediation, cloud platform placement, usage policies, cost planning, capacity planning, integrations, and support services. The evaluation identifies Leaders, Strong Performers, Contenders, and Challengers in the CCMO market.
A: Cloud professionals and infrastructure & operations teams evaluating CCMO solutions should use this research to compare vendors and select the right solution for their needs. Organizations should consider this evaluation when looking for tools that support all major cloud vendors, tie engineering decisions to business targets, and integrate with solutions beyond infrastructure-as-a-service. Buyers can use the Excel-based vendor comparison tool to adapt criteria weightings to their specific requirements.
A: All vendors included in this evaluation must provide: 1) A standalone CCMO solution purchasable with one SKU that doesn't require augmentation from another solution for basic visibility optimization, 2) Optimization recommendations for at least two major public cloud platforms, 3) Cost visibility for compute, storage, and database across AWS, Azure, and Google Cloud as a minimum, 4) Product revenue of $10 million or more from CCMO capabilities, and 5) Generally available solutions and capabilities as of February 29, 2024.
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A: Strength of Current Offering evaluates the vendor's existing product capabilities across 17 criteria including technical features (access, cloud platform support, resource discovery, billing, reporting, monitoring, recommendations, remediation), planning capabilities (cost and capacity planning), user experience (admin portal usability, platform experience), and support services (integrations, APIs, support services). Strength of Strategy evaluates the vendor's future direction and business approach across 6 criteria including forward-looking elements (vision, innovation, roadmap), ecosystem strength (partner ecosystem), and commercial flexibility (pricing flexibility and transparency, supporting services). Current Offering focuses on what the product can do today, while Strategy focuses on where the vendor is heading and how they position themselves in the market.