USD 1.1 billion
Cloud Discovery Market Size, Share, Growth Analysis, By Component(Solutions, Services), By Enterprise Size(Large enterprises, Small and Medium-sized Enterprises (SMEs)), By Industry Vertical(BFSI, Healthcare and Life Sciences, Telecommunication and ITES, Retail and Consumer Goods), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45D2101 |
Region:
Global |
Published Date: May, 2024
Pages:
196
|Tables:
94
|Figures:
71
Cloud Discovery Market Insights
Global Cloud Discovery Market size was valued at USD 1.1 billion in 2022 and is poised to grow from USD 1.28 billion in 2023 to USD 4.25 billion by 2031, growing at a CAGR of 16.2% in the forecast period (2024-2031).
Cloud discovery refers to accessing data or applications over the internet by using a cloud vendor’s API. Popularity and adoption of cloud technologies and services around the world are forecasted to bolster the demand for cloud discovery over the coming years. Rising concerns regarding shadow IT practices and the rapidly evolving cloud security threat landscape are also promoting the adoption of cloud discovery across the forecast period and beyond. Enterprises and governments around the world are opting for cloud solutions and services to improve resource utilization and maximize operational efficiency, which is also expected to benefit cloud discovery market growth in the long run. However, complexity of multi-cloud platforms and growing concerns regarding data privacy and compliance are estimated to hamper cloud discovery market development potential going forward.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Services
Fastest Growth
Solutions
Growth Rate
16.2% CAGR
Global Cloud Discovery Market ($ Bn)
Country Share for North America Region (%)
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Cloud Discovery Market Segmental Analysis
The global cloud discovery market is segmented based on component, industry vertical, enterprise size, and region. In terms of based on component, the market is segmented into solutions and services. Based on enterprise size, the cloud discovery market is segmented into large enterprises and small and medium-sized enterprises (SMEs). Based on industry vertical, the cloud discovery market is segmented into BFSI, healthcare and life sciences, telecommunication and ITES, retail and consumer goods, government and public sector, media and entertainment, manufacturing, transportation and logistics, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Component
Services segment is estimated to account for a substantial share of the global cloud discovery market. High requirement of support for cloud discovery solutions and platforms allows this segment to hold sway over others. Other key cloud discovery services include training, maintenance, deployment, integration, etc.
Meanwhile, the demand for cloud discovery solutions is projected to increase at a rapid pace across the forecast period. Growing need for cloud discovery services is pushing the cloud discovery providers to deploy advanced hardware and software solutions to satisfy the surging demand. Solutions are also essential in visualizing cloud discovery data as they produce reports and dashboards that help users gain meaningful insights.
Analysis by Enterprise Size
Large enterprises are projected to account for a dominant share of the global cloud discovery market. High use of cloud discovery by large enterprises for governance, cloud strategy, and management optimization allows this segment to maintain its high market share. Cloud discovery solutions also help large enterprises to reduce their operational costs by optimizing resources and capital expenditure.
Demand for cloud discovery in small and medium enterprises is forecasted to increase at a rapid pace over the coming years. The rising availability of affordable cloud discovery solutions and utilize of cloud discovery to automate and streamline business operations are helping market growth via this segment.
Global Cloud Discovery Market By Component
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Cloud Discovery Market Regional Insights
North America is estimated to account for a substantial share of the global cloud discovery market owing to the presence of multiple cloud discovery providers. High investments in the development of novel cloud technologies and rapid adoption of the same are also promoting cloud discovery demand in this region. The rising use of cloud computing services by businesses and industries of all sizes is a key factor that makes this the most lucrative market for cloud discovery companies, Canada and the United States are forecasted to be highest revenue generating countries in this region.
The Asia Pacific region is estimated to emerge as the fastest-growing market in the world for cloud discovery providers going forward. Surge in adoption of cloud technologies owing to rapid digital transformation in this region is setting the tone for cloud discovery companies going forward. Presence of a strong start-up ecosystem in countries such as India and China is also slated to create new opportunities for cloud discovery market players in the long run.
Global Cloud Discovery Market By Region
- Largest
- Fastest
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Cloud Discovery Market Dynamics
Drivers
High Use of Cloud Services
- Adoption of cloud services and platforms has increased rapidly in recent years owing to its easy scalability and affordability. This hike in popularity of cloud services is also favoring the demand for cloud discovery.
Concerns Regarding Cloud Security Risks
- Shadow IT risks and other cloud security risks that could provide unauthorized access to cloud platforms and services have been evolving rapidly. Utilization of cloud discovery helps eliminate these risks and hence its adoption will increase going forward.
Restraints
Complex Multi-Cloud Platforms
- Cloud discovery tools and solutions face challenges while monitoring and maintaining the security of multiple cloud platforms and this is expected to hamper cloud discovery demand outlook in the long run.
Compliance with Data Privacy Norms
- Different regions and different companies have various data security and privacy regulations to ensure data protection. Cloud discovery companies can find it hard to comply with all of these regulations and impede market growth in the future.
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Cloud Discovery Market Competitive Landscape
Cloud discovery providers should focus on integrating advanced technologies to maximize the security of their solutions and provide additional functionality as well. Cloud discovery companies should collaborate and partner with different cloud technology providers to overcome the restraint of multi-cloud complexities. Use of automation technologies will also offer new growth scope for market players.
Top Player’s Company Profiles
- BMC Software
- Certero
- Cisco Systems
- McAfee
- Iquate
- CipherCloud
- Zscaler
- ASG Technologies
- Qualys
- KMicro Tech
- ConnectWise Inc.
- Alien Vault Inc.
- NetSkope
- Puppet
- ServiceNow
Recent Developments
- In April 2023, Paladin, a leading open source cloud security organization, announced the launch of a new SaaS-based platform for attack surface discovery and vulnerability management.
- In March 2021, Lookout, a renowned cybersecurity organization, announced that it had acquired CipherCloud, a leading name in the cloud discovery business. Lookout intended to offer end-to-end security solution from endpoint to cloud through this move by combining both companies’ leading offerings.
Cloud Discovery Key Market Trends
- Continuous Monitoring: Cloud discovery providers should focus on providing continuous monitoring services by integrating technologies such as artificial intelligence and machine learning to promote automated continuous monitoring of cloud platforms.
Cloud Discovery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, advancements in cloud technologies and evolving threat landscape in cloud environments are projected to promote the adoption of cloud discovery over the coming years. Increasing number of shadow IT issues in organizations will also bolster the demand for cloud discovery in the future. However, data privacy compliance is slated to be a key constraint for cloud discovery market development going forward. Rapid adoption of advanced cloud platforms allows North America to maintain a dominant stance in the global cloud discovery market. Cloud discovery companies should focus on integrating advanced technologies to provide continuous monitoring for cloud discovery service end users.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.1 billion |
| Market size value in 2031 | USD 4.25 billion |
| Growth Rate | 16.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cloud Discovery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cloud Discovery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cloud Discovery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Discovery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Discovery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Discovery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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