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Cloud Discovery Market Size (2024 - 2029)

The cloud discovery market is anticipated to experience significant growth, driven by the increasing adoption of cloud computing technologies across various industry sectors. This expansion is supported by the integration of multi-cloud environments and big data technologies, which enhance the functionality and security of cloud services. The market's growth is further fueled by the development of cloud discovery solutions that offer features like automated monitoring and single hybrid views of resource interdependencies, catering to the needs of organizations seeking to improve their service and security frameworks.

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Market Size of Cloud Discovery Industry

Cloud Discovery Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 18.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Cloud Discovery Market Key Players

*Disclaimer: Major Players sorted in no particular order

Cloud Discovery Market Analysis

Cloud Discovery Marke is expected to register a healthy CAGR of over 18% during the forecast period (2021 - 2026). Companies across the emerging economies are focusing on developing their cloud discovery solutions for the various end users to enhance service and security for the organizations.

  • Owing to features of cloud discovery such as data sharing through file feeds, high-quality web services, and single sign-on connection across the network is fueling the adoption of cloud computing technology among various industry sectors
  • Further, increasing implementation of the multi-cloud environment which facilitates managed cloud services such as, Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS), and Infrastructure-as-a-Service (IaaS) for the operation of enterprise cloud services are expected to strengthening the growth of cloud discovery market during the forecast period.
  • Integration of multi-cloud and big data technology among various cloud-based organizations is expected to proliferate the growth of the market, owing to features offered by cloud discovery such as, automated monitoring that utilizes advanced hybrid and multi-cloud discovery to monitor cloud-based workloads via cloud provider APIs and displays a single hybrid view of resource interdependencies.

Cloud Discovery Industry Segmentation

Cloud Discovery refers to analyzing unmanaged cloud applications used by associates of the organization. This helps to control unauthorized access to corporate data and other security risk associated with cloud-based technology. Cloud discovery uses the cloud vendor's API to extract data on the client cloud services, rather than the direct access used in scanning their on-premises infrastructure. The scope of the study includes various end-user industries currently adopting the cloud discovery platform thereby integrating it to their existing business model.

By Service
Professional
Managed
By End-user Industry
IT & Telecommuication
BFSI
Retail
Industrial
Healthcare
Other End-user Industries
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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Cloud Discovery Market Size Summary

The cloud discovery market is poised for significant growth, driven by the increasing adoption of cloud computing technologies across various industry sectors. Companies in emerging economies are actively developing cloud discovery solutions to enhance service and security for organizations. The market is benefiting from features such as data sharing through file feeds, high-quality web services, and single sign-on connections, which are fueling the adoption of cloud computing. The implementation of multi-cloud environments, offering managed services like Platform-as-a-Service, Software-as-a-Service, and Infrastructure-as-a-Service, is further strengthening market growth. The integration of multi-cloud and big data technologies is expected to proliferate the market, with automated monitoring and advanced hybrid and multi-cloud discovery capabilities playing a crucial role.

The allure of unified, outsourced solutions is attracting modern IT administrators, as it simplifies the management of cloud services compared to partial add-on solutions and aging on-premise infrastructure. The increasing penetration of cloud services in the IT industry is driving the shift of databases and servers to the cloud, contributing to market growth. Prominent telecom organizations are transforming into technology providers by developing mobile applications and utilizing cloud platforms for data storage. Additionally, the rise in security spending and the convergence of mobility and cloud computing are creating new risks, prompting the adoption of secure cloud discovery platforms. The market is moderately competitive, with a few major players dominating, but new entrants are expanding their presence in emerging economies.

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Cloud Discovery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Introduction to Market Drivers and Restraints

    3. 1.3 Market Drivers

      1. 1.3.1 Growing Adoption of Multi-Cloud Environment Across Various End-User Industries

      2. 1.3.2 Rising Need of Efficiently Managed Secure IT Infrastructure To Deliver Robust & High-Performing Cloud Solutions

    4. 1.4 Market Restraints

      1. 1.4.1 Lack of Sufficient Infrastructure Among SMEs

      2. 1.4.2 Stringent Government Rules and Regulations Across Emerging Economies

    5. 1.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Technology Snapshot

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Service

      1. 2.1.1 Professional

      2. 2.1.2 Managed

    2. 2.2 By End-user Industry

      1. 2.2.1 IT & Telecommuication

      2. 2.2.2 BFSI

      3. 2.2.3 Retail

      4. 2.2.4 Industrial

      5. 2.2.5 Healthcare

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East & Africa

Cloud Discovery Market Size FAQs

The Cloud Discovery Market is projected to register a CAGR of 18% during the forecast period (2024-2029)

ServiceNow Inc., BMC Software Inc., Amazon Web Services Inc., Microsoft Corp. and McAfee LLC are the major companies operating in the Cloud Discovery Market.

Cloud Discovery Market Report Snapshots

Cloud Discovery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)