Primary factors propelling the global market for cloud discovery are increasing adoption of multi-cloud environments and growing requirement to manage IT infrastructure security effectively
Rockville, Maryland, United States, 23rd Jan 2023 – Fact.MR, a market research and competitive intelligence provider, reveals that the global cloud discovery market is set to garner US$ 4.5 billion by 2033, growing rapidly at 16.2% CAGR over the next ten years.
Cloud discovery assists enterprises in identifying cloud activities such as cloud databases, cloud spans, containers, and other cloud-related services that are active at the same time. The solution gives a unified picture of all cloud services and cloud platforms within an organization. Using auto-discovery tools, cloud discovery aids in reducing manual interactions. It also gives precise information about all IT infrastructure systems and apps and aids in the protection of end-user data.
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Key Takeaways from Market Study
- The global cloud discovery market is valued at US$ 1 billion in 2023.
- Worldwide demand for cloud discovery solutions is predicted to surge at a CAGR of 16.2% during the forecast period (2023 to 2033).
- The global market is anticipated to touch US$ 4.5 billion by 2033.
- North America captured 33.5% share of the global market in 2022.
- The telecom & ITES segment is projected to exhibit substantial growth over the decade.
Various capabilities, such as data exchange via high-quality web services, file feeds, and single sign-on throughout the network, are increasing the popularity of cloud discovery among industrial sectors. Moreover, the growing uptake of IT-based applications among various information technology and other organizations is boosting the demand for cloud discovery solutions. The growing adoption of cloud computing technology throughout different industries is also increasing the demand for cloud discovery technologies.
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Key players in the cloud discovery market have been seen to prioritize organic growth methods such as new product launches and other associated events such as product promotion and marketing. Other growth methods majorly embraced by these players are partnerships, collaborations, and acquisitions. Moreover, many start-ups are raising funds to make new developments.
- Britive, a start-up based in the United States, closed a US$ 5.4 million seed round headed by Upfront Ventures in September 2021 to help redefine security for multi-cloud enterprise environments. The start-up allows users to instantly boost their own privilege levels (on a pre-authorization basis) to accomplish important administrative activities in the shortest amount of time. Britive’s intelligent engine analyzes user behavior and advises privilege right-sizing for users and machine IDs, while actively monitoring for abnormalities that indicate privilege misuse.
- Netskope, the leader of SASE, confirmed his membership in the Microsoft Intelligent Security Association (MISA) on May 27, 2021. MISA is an ecosystem for independent software suppliers and security service partners linked with Microsoft Security to assist customers in effectively protecting themselves in the event of a cyber threat.
- StarLink, the META area’s fastest growing ‘Real’ Distributor (VAD), established a relationship with BMC Software, Inc., a world leader in Autonomous Digital Enterprise software solutions, on April 21, 2021, as BMC Distribution Partner for BMC IT Software services and solutions in the MENA region.
- Lookout Inc, a cybersecurity business headquartered in San Francisco, California, acquired CipherClouds in March 2021 to offer security to organizations from endpoints to clouds.
Key Companies Profiled
- Alien Vault, Inc
- ASG Technologies Group, Inc
- BMC Software, Inc
- Ciphercloud, Inc
- Cisco Systems, Inc
- KMicro Tech
- ConnectWise, Inc
- McAfee LLC
Increasing adoption of big data and multi-cloud technology among numerous cloud-based organizations around the world is driving the expansion of the global cloud discovery market. This is due to cloud discovery features like automated monitoring, which uses advanced multi-cloud and hybrid cloud discovery to track cloud-based workloads via cloud provider APIs and exhibits a single hybrid view of resource interdependencies.
Furthermore, a multi-cloud environment enables managed cloud services such as Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS), and Infrastructure-as-a-Service (IaaS) for the operation of multiple companies, which supports the growth of the global cloud discovery market.
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Key Segments of Cloud Discovery Industry Research
- By Component :
- By Organization Size :
- Large Enterprises
- By End Use :
- Telecom & ITES
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Government & Public Sector
- Media & Entertainment
- Transportation & Logistics
- By Region :
- North America
- Latin America
- Asia Pacific & China
- Middle East & Africa
North America is the leading regional market for cloud discovery and is projected to continue dominating during the study period as well due to the region’s significant adoption of innovative cloud-based technologies across industries. The United States is dominating the North American market. The presence of major players in the United States is aiding regional market growth.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global cloud discovery market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of component (solutions, services), organization size (large enterprises, SMEs), and end use (telecom & ITES, BFSI, retail & consumer goods, healthcare & life sciences, government & public sector, media & entertainment, manufacturing, transportation & logistics, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
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