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 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.

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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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