USD 1.65 billion
Report ID:
SQMIG45D2101 |
Region:
Global |
Published Date: November, 2024
Pages:
196
|Tables:
94
|Figures:
71
Cloud Discovery Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 7.4 Billion by 2032, growing at a CAGR of 16.2% during the forecast period (2025-2032).
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.
Global Market Size
USD 1.65 billion
Largest Segment
Services
Fastest Growth
Solutions
Growth Rate
16.2% CAGR
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Global Cloud Discovery Market is segmented by components, organisational size, industry verticals and region. Based on component, the market is segmented into solutions and services. Based on organisational size, the market is segmented into large enterprises and small and medium-enterprises (SMEs). Based on industry vertical, the market is segmented into banking, financial services and insurance (BFSI), healthcare and life sciences, telecommunications 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 North America, Europe, Asia Pacific, Latin America and 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.
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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.
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Drivers
High Use of Cloud Services
Concerns Regarding Cloud Security Risks
Restraints
Complex Multi-Cloud Platforms
Compliance with Data Privacy Norms
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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
Recent Developments
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 2023 | USD 0 Billion |
Market size value in 2032 | USD 7.4 Billion |
Growth Rate | 16.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG45D2101
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