Global Cloud Discovery Market is Expected to Reach US$ 4.5

Rockville, Jan. 23, 2023 (GLOBE NEWSWIRE) — 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.

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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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.

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.

“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,” says a Fact.MR analyst.

Key Segments of Cloud Discovery Industry Research

  • By End Use :
    • Telecom & ITES
    • BFSI
    • Retail & Consumer Goods
    • Healthcare & Life Sciences
    • Government & Public Sector
    • Media & Entertainment
    • Manufacturing
    • Transportation & Logistics
    • Others
  • By Region :
    • North America
    • Latin America
    • Europe
    • Asia Pacific & China
    • Middle East & Africa

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Regional Analysis

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.

Competitive Landscape

It has been observed that major players in the cloud discovery market give priority to organic development strategies like new product launches and other related events like product promotion and marketing. These players also heavily favour partnerships, collaborations, and acquisitions as growth strategies. Additionally, a lot of startups are raising money to create fresh improvements.

  • Britive, a US-based startup, raised $5.4 million in a seed round led by Upfront Ventures in September 2021 to assist reimagine security for multi-cloud enterprise systems. Users can instantly increase their own access levels during startup (on a pre-authorization basis) to complete crucial administrative tasks quickly. The intelligent engine of Britive evaluates user behaviour, recommends privilege right-sizing for user and machine IDs, and continuously scans for anomalies that can suggest privilege abuse.
  • Netskope, SASE’s leader, has confirmed his participation in the Microsoft Intelligent Security Association (MISA) for May 27, 2021. MISA is an ecosystem of independent software vendors and security service providers associated with Microsoft Security to help clients protect themselves successfully in the event of a cyber threat.
  • On April 21, 2021, BMC Software, Inc., a leader in autonomous digital enterprise software solutions, established a partnership with StarLink, the META region’s fastest growing “Real” Distributor (VAD). StarLink will serve as the MENA region’s BMC Distribution Partner for BMC IT Software services and solutions.

Key Companies Profiled

  • Alien Vault, Inc
  • Certero
  • ASG Technologies Group, Inc
  • Iquate
  • BMC Software, Inc
  • Ciphercloud, Inc
  • Cisco Systems, Inc
  • KMicro Tech
  • ConnectWise, Inc
  • McAfee LLC

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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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