Global Cloud Discovery Market

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 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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FAQs

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 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. 'BMC Software', 'Certero', 'Cisco Systems', 'McAfee', 'Iquate', 'CipherCloud', 'Zscaler', 'ASG Technologies', 'Qualys', 'KMicro Tech', 'ConnectWise Inc.', 'Alien Vault Inc.', 'NetSkope', 'Puppet', 'ServiceNow'

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.

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.

North America is estimated to account for a substantial share of the 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.

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Global Cloud Discovery Market

Report ID: SQMIG45D2101

$5,300
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