Cloud Discovery Market: Growth, Dynamics, and Key Insights

Market Overview: The global Cloud Discovery Market was valued at USD 11.35 million in 2022 and is expected to grow at a CAGR of 16%, reaching USD 32.09 million by 2029. Cloud discovery is an essential tool that helps organizations discover and analyze unmanaged cloud applications within their IT infrastructure. This technology enables businesses to manage unauthorized access, ensure security, and streamline their cloud operations using the cloud vendor's API. It is particularly crucial in industries like IT, telecommunications, and other sectors where data security and cloud management are vital.

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 Market Dynamics: The increasing adoption of cloud computing technologies is driving the growth of the global cloud discovery market. As more businesses shift to multi-cloud environments and integrate big data and cloud-based services, the demand for cloud discovery solutions continues to rise. This technology helps organizations monitor cloud services efficiently, ensuring data protection, compliance, and better infrastructure management.

However, the market faces challenges such as stringent governmental regulations and the infrastructure limitations of small and medium-sized enterprises (SMEs). These factors may slightly hinder the widespread adoption of cloud discovery services, particularly in emerging markets.

Key Drivers:

Cloud Computing Adoption: Cloud discovery is increasingly integrated with organizations’ digital transformation strategies as businesses adopt cloud technologies for scalability, flexibility, and cost-effectiveness.
Security Management: Rising concerns about IT infrastructure security and the need for efficient security solutions are fueling the demand for cloud discovery services.
SMEs Adoption: Small and medium-sized enterprises (SMEs) are increasingly adopting cloud solutions due to their low-cost and flexible nature, thus contributing to market growth.
Restraints:

Regulatory Challenges: Stringent government regulations on data privacy and security could impact the deployment of cloud discovery solutions across different regions.
Infrastructure Gaps in SMEs: While SMEs are adopting cloud solutions, some may lack the infrastructure to fully utilize cloud discovery technology.
Segmentation:

By Component:

Services: Expected to grow at a faster pace due to the increasing need for expert cloud management and security solutions.
Solutions: Held the largest market share in 2022, accounting for 62% of the total market.
By Organization Size:

Large Enterprises: These organizations represent over 60% of the cloud discovery market due to their extensive use of cloud services.
Small and Medium Enterprises (SMEs): These businesses are increasingly adopting cloud discovery tools to gain better visibility and control over their IT infrastructure.
By Vertical:

Banking and Financial Services: Cloud discovery plays a critical role in protecting sensitive financial data.
Retail and Consumer Goods: This segment is expected to grow rapidly, driven by the need for cost-effective cloud solutions to enhance market competitiveness.
Telecommunications and IT: Expected to grow at a CAGR of 16.7% during the forecast period, with telecom companies increasingly relying on cloud services for data storage and VoIP calls.
Regional Analysis:

North America: Dominated the market in 2022 with a 33.5% share, thanks to early adoption of emerging technologies and the presence of leading cloud discovery providers such as AWS, Cisco, and McAfee.
Asia-Pacific: Expected to witness the highest growth rate, with a CAGR of 17.5% due to the increasing adoption of cloud solutions by SMEs and the demand for efficient IT infrastructure in the region.
Europe: Accounted for 25.5% of the market in 2029, driven by the growing demand for secure and scalable cloud infrastructure.
South America and Middle East & Africa: These regions are anticipated to see significant growth, driven by an increasing awareness of cloud services and the need for secure IT infrastructure in emerging economies.
Key Players:

iQuate (USA)
Nephos Technologies (UK)
ScienceLogic (USA)
ServiceNow, Inc. (USA)
Zscaler, Inc. (USA)
Amazon Web Services (AWS) (USA)
BMC Software (USA)
Puppet (USA)
CipherCloud (USA)
Cisco Systems (USA)

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Key questions answered in the Cloud Discovery Market are:

• What is Cloud Discovery?
• What was the Cloud Discovery market size in 2023?
• Which application holds the highest potential in the Cloud Discovery market?
• What are the key challenges and opportunities in the Cloud Discovery market?
• What will be the CAGR at which the Cloud Discovery market will grow?
• What are the different segments of the Cloud Discovery Market?
• What growth strategies are the players considering to increase their presence in Cloud Discovery?
• What is the growth rate of the Cloud Discovery Market?
• Which are the factors expected to drive the Cloud Discovery market growth?
• What are the upcoming industry applications and trends for the Cloud Discovery Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Cloud Discovery Market?
• Who are the leading companies and what are their portfolios in Cloud Discovery Market?
• Who are the key players in the Cloud Discovery market?

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Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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