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The cloud discovery market size is forecast to increase by USD 1.53 billion, at a CAGR of 18.55% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for cloud-based applications and services. This trend is particularly evident in the adoption of multi-cloud strategies, as organizations seek to optimize their IT infrastructure and improve agility. However, challenges persist, including the lack of technical expertise in developing countries, which can hinder the implementation and effective management of cloud solutions. Additionally, concerns around data security and compliance continue to be major factors influencing market growth and development. Despite these challenges, the market is expected to continue expanding, driven by the benefits of cloud computing, including cost savings, scalability, and flexibility.
The market is a rapidly growing sector driven by the adoption of the Internet, Multi-cloud environments, and Big Data Technology. Automated Monitoring tools play a crucial role in Cloud Discovery, providing a Hybrid View of IT infrastructure, Cloud Provider APIs, and Cloud activities. Security and Audit are key concerns in this market, with a focus on Data Bridge Market and Data Sharing between Cloud-native Apps and Infrastructure-as-a-Service, Platform-as-a-Service, and Software-as-a-Service. Cloud discovery tools help IT teams consolidate a view of their Cloud services, including Cloud database, Cloud spanning, Containers, and Docker Container. Auto discovery tools enable Interactive Use and Cost efficiency, while Strategic cloud planning and Migration to the cloud ensure High-quality delivery. However, Market hindrances such as Data security and IT complexities may hinder growth in this sector.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The solutions segment is estimated to witness significant growth during the forecast period. In the dynamic landscape of multi-cloud environments, the Cloud Discovery Market plays a pivotal role in facilitating strategic cloud planning and optimization. This market encompasses solutions for application and infrastructure discovery, spanning Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS). Application Discovery solutions, a significant segment, enable organizations to manage, monitor, and collect data from all applications within their IT infrastructure. These solutions employ automated monitoring tools, such as Application Performance Monitoring (APM) software, to gather information from systems and servers. The data obtained is analyzed to ensure high-quality delivery, security, and cost efficiency.
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The solutions segment was the largest and was valued at USD 558.10 million in 2018. Cloud Provider APIs and hybrid view facilitate data sharing and consolidated visibility across various cloud services. Security, audit, and Zero Trust CASB+ are integral components, addressing concerns in data security and migration to cloud. Emerging economies and technological changes fuel the market's growth, with investment opportunities arising from smart technology innovations. Analyst support provides valuable insights into market trends and hindrances. In summary, the Cloud Discovery Market offers essential tools for IT teams to effectively manage and optimize their multi-cloud infrastructure, ensuring a consolidated view of cloud activities and enhancing cost efficiency and security.
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North America is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Cloud Discovery refers to the process of identifying and managing various cloud activities, including Multi-cloud environments, Cloud-native Apps, and Infrastructure services such as Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS) from different Cloud Providers. Big Data Technology plays a significant role in Cloud Discovery, enabling Automated Monitoring, Interactive Use, and Data Sharing. Automation tools facilitate Auto Discovery of IT infrastructure, ensuring Cost Efficiency and High-quality delivery. Security and Audit are crucial aspects of Cloud Discovery, with Zero Trust CASB+ ensuring Data Security.
Cloud Provider APIs act as Data Bridges, consolidating information from various Cloud Services into a Hybrid View. Technological Changes, including the emergence of Docker Containers and Smart Technology Innovations, are driving the need for Strategic Cloud Planning and Migration to Cloud. Emerging Economies are investing heavily in Cloud Services, presenting significant opportunities in this market. Analyst Support is essential for companies to navigate the complex Cloud landscape and make informed decisions. Market hindrances include Data Security concerns and the complexity of managing Hybrid Cloud environments.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for cloud-based applications is notably driving market growth. Cloud Discovery solutions are witnessing significant adoption globally due to the financial advantages and flexibility offered by cloud services. Organizations are prioritizing a reduction in their Capital Expenditure (CAPEX) and opting for technologies with minimal CAPEX. Small and Medium Enterprises (SMEs) and start-ups are embracing cloud services to utilize the scalability of hardware and resources provided by cloud vendors. Large organizations are also adopting cloud-based solutions to accommodate fluctuating workloads without the necessity of establishing their data centers, which entails high CAPEX and Operating Expenditure (OPEX). The telecommunication sector, ICT spending, and technology investments are some of the key areas driving the adoption of cloud computing, on-demand services, and infrastructure such as virtualization, collaboration tools, and VPN networking.
Cloud vendor APIs, impact analysis, and component type, service type, deployment type, and organizational size are crucial factors influencing the selection of cloud solutions. Fortune Business Insights and other market research firms predict future estimations of investment pockets in this domain. Business intelligence and data access are essential aspects of cloud services, and feedback from clients using cloud client services is crucial for continuous innovation. Thus, such factors are driving the growth of the market during the forecast period.
Multi-cloud services gaining traction is the key trend in the market. In the rapidly evolving IT landscape, cloud computing has become a priority for businesses seeking to optimize their infrastructure and leverage the latest technology innovations. Major cloud vendors, including Amazon, Google, and Microsoft, are responding to this demand by introducing new solutions and services. One such development is multi-cloud computing, which allows businesses to utilize multiple cloud platforms for increased flexibility, faster disaster recovery, and reduced vendor lock-in. For instance, Google's Anthos platform, launched in April 2019, enables users to run applications anywhere in the cloud. Other sectors, such as telecommunications, are also increasing their ICT spending on cloud services, including client cloud services, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, and desktop support.
As businesses continue to invest in cloud computing, impact analysis, component type, service type, deployment type, and organizational size will be critical factors in selecting the right cloud solutions. Future estimations suggest that investment pockets in cloud computing will continue to grow, with a focus on on-demand services and FedRAMP-compliant offerings. Enterprises are encouraged to gather feedback from their teams and stakeholders to make informed decisions about their cloud strategy. Cloud vendor APIs can provide valuable insights into the capabilities and limitations of different cloud platforms, enabling businesses to make data-driven decisions. Business intelligence and data access are also essential considerations for organizations looking to maximize the value of their cloud investments. Thus, such trends will shape the growth of the market during the forecast period.
Lack of technical expertise in developing countries is the major challenge that affects the growth of the market. Cloud computing has gained significant traction among businesses worldwide due to its affordability, scalability, and ease of use. This technology offers various functionalities, including IT asset discovery, business intelligence, and collaboration tools. However, the adoption of cloud services is not without challenges, particularly in terms of security and compliance. Regulations such as FedRAMP and GDPR impose restrictions on data storage locations, adding complexity to cloud implementation. Moreover, the concern of data accessibility through the Internet raises security concerns. Cloud innovation continues to evolve, with advancements in virtualization infrastructure, VPN networking, and mobile device support.
Despite these challenges, technology investments in cloud computing are expected to grow, with on-demand services becoming increasingly popular. The impact analysis of cloud computing varies depending on component type, service type, deployment type, and organizational size. Future estimations indicate continued growth in cloud adoption across various industries, including telecommunications and ICT spending. Cloud vendors provide APIs for clients to access their services, enabling seamless integration into existing infrastructure. Overall, the benefits of cloud computing outweigh the challenges, making it an essential investment pocket for businesses seeking to stay competitive. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BMC Software Inc. - The company offers cloud discovery which supports multi-cloud applications and services.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Cloud Discovery is an essential aspect of managing modern IT infrastructure. With the increasing adoption of Multi-cloud environments, discovering and managing cloud activities, cloud services, and cloud databases across various platforms and providers has become a complex task. In this context, Big Data Technology plays a crucial role in automating the process of Cloud Discovery. Cloud Discovery tools offer Automated Monitoring and Interactive Use, enabling IT teams to gain a Consolidated View of their cloud infrastructure. These tools help in the discovery of Cloud-native Apps, Docker Containers, and Cloud Provider APIs, ensuring Cost Efficiency and High-quality delivery. Security is a significant concern in Cloud Discovery. Data Sharing and Data Bridge Market between different clouds require security measures, including Zero Trust CASB+ and Security Audit.
Technological Changes and Emerging Economies are driving the need for Cloud Discovery, as more companies invest in Infrastructure-as-a-Service, Platform-as-a-Service, and Software-as-a-Service. Strategic cloud planning, Migration to the cloud, and Smart technology innovations are crucial for overcoming Market hindrances. Analyst Support and IT expertise are essential for successful Cloud Discovery, ensuring IT infrastructure remains secure and cost-effective. In conclusion, Cloud Discovery is a critical component of IT infrastructure management in the Multi-cloud era. By leveraging the latest technologies and best practices, companies can gain a competitive edge and ensure their cloud investments deliver the desired outcomes.
Market Scope |
|
Report Coverage |
Details |
Page number |
144 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.55% |
Market Growth 2024-2028 |
USD 1.53 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.19 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 52% |
Key countries |
US, China, UK, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AO Kaspersky Lab, ASG Technologies Group Inc., AT and T Inc., BlueCat Networks Inc., BMC Software Inc., Certero Ltd., Cisco Systems Inc., International Business Machines Corp., Lookout Inc., McAfee LLC, Microsoft Corp., Netskope Inc., Nippon Telegraph And Telephone Corp., Palo Alto Networks Inc., Puppet Inc., Qualys Inc., ServiceNow Inc., TechNEXA Technologies Pvt. Ltd., Virima Inc., and Zscaler Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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