Cloud Discovery Market by Component and Geography - Forecast and Analysis 2022-2026

The cloud discovery market share is expected to increase by USD 1.27 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 16.26%.

This cloud discovery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cloud discovery market segmentation by component (solutions and services) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The cloud discovery market report also offers information on several market vendors, including 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 Corp., 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. among others.

What will the Cloud Discovery Market Size be During the Forecast Period?

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Cloud Discovery Market: Key Drivers, Trends, and Challenges

The increasing demand for cloud-based applications is notably driving the cloud discovery market growth, although factors such as lack of technical expertise in developing countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cloud discovery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Cloud Discovery Market Driver

One of the key factors driving the global cloud discovery market growth is the increasing demand for cloud-based applications. Organizations worldwide are focusing on reducing their overall capital expenditure (CAPEX) and are looking to adopt new technologies with a low CAPEX. SMEs and start-ups are adopting cloud solutions to leverage the scalability of the hardware and resources offered by cloud service providers. Similarly, large organizations have started using cloud-based solutions as they can scale up their workloads as and when required. In addition, organizations do not have to pay for the data center setup cost and need to pay only for the software services as per the SLA. Labor costs are handled by the cloud providers themselves, and so organizations need not hire dedicated staff for the same. Such factors are expected to drive the growth of the global cloud analytics market during the forecast period.

Key Cloud Discovery Market Trend

Multi-cloud services are gaining traction, which is one of the key cloud discovery market trends that is expected to impact the industry positively in the forecast period. As cloud computing-based solutions are increasingly being deployed by enterprises, major IT companies are continuously developing solutions to cater to the growing requirements for cloud services. For instance, in April 2019, Google introduced a new multi-cloud services platform called Anthos, which enables end-users to run an app anywhere via the cloud. In addition, enterprises prefer multi-cloud services due to fear of vendors specifying a certain lock-in period for cloud usage. With the increasing demand for multi-cloud services, companies operating in the IT consulting industry are offering consultation services for the smooth implementation and integration of multi-cloud solutions, which will further accelerate the adoption of cloud-based services.

Key Cloud Discovery Market Challenge

One of the key challenges to the global cloud discovery market growth is the lack of technical expertise in developing countries. The shortage of skilled labor causes delays in project delivery, which affects the timelines of projects. Though the demand for the cloud discovery market is growing in countries such as the US, Canada, and various European countries, the lack of a skilled workforce in developing countries will challenge the optimum market penetration. In addition, different end-users require different deployment models. Therefore, a person dealing in cloud discovery must have a degree or relevant experience. Moreover, the demand for such platforms varies from organization to organization. Hence, the lack of skilled experts in developing countries will challenge the growth of the market in focus in the coming years.

This cloud discovery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global cloud discovery market as a part of the global internet services and infrastructure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cloud discovery market during the forecast period.

Who are the Major Cloud Discovery Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• 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 Corp.
• 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.
• Zscaler Inc.

 

This statistical study of the cloud discovery market encompasses successful business strategies deployed by the key vendors. The cloud discovery market is fragmented and the vendors are deploying growth strategies such as an increase in product and service extensions and technological innovations to compete in the market.

Product Insights and News

• BMC Software Inc. is a privately held company headquartered in the US. It is a global company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global cloud discovery market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
• BMC Software Inc. - It offers cloud discovery which supports multi-cloud applications and services

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The cloud discovery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Cloud Discovery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the cloud discovery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Cloud Discovery Market?

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41% of the market's growth will originate from North America during the forecast period. The US is the key market for cloud discovery in North America. However, market growth in this region will be slower than the growth of the market in other regions.

The significant increase in the adoption of cloud-based services in countries such as the US will facilitate the cloud discovery market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 had a positive impact on the growth of the market. This was because cloud discovery solutions enabled organizations to manage and protect their data on the cloud. Besides, most organizations adopted the work-from-home policy to mitigate the spread of COVID-19. Hence, the global cloud discovery market in the region grew in 2020 and 2021 and is expected to grow further during the forecast period.

What are the Revenue-generating Component Segments in the Cloud Discovery Market?

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The cloud discovery market share growth by the solutions segment will be significant during the forecast period. The segment is expected to grow in the coming years owing to the multiple benefits of application discovery and infrastructure discovery. For instance, application discovery solutions enable organizations to identify, manage, monitor, and collect information from all the applications that are installed and used throughout their IT environment or networks

This report provides an accurate prediction of the contribution of all the segments to the growth of the cloud discovery market size and actionable market insights on post COVID-19 impact on each segment.

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Cloud Discovery Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 16.26%
Market growth 2022-2026	$ 1.27 billion
Market structure	Fragmented
YoY growth (%)	15.51
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 41%
Key consumer countries	US, China, Japan, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
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 Corp., 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 forecast period
Customization purview	If our 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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What are the Key Data Covered in this Cloud Discovery Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive cloud discovery market growth during the next five years
• Precise estimation of the cloud discovery market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the cloud discovery industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of cloud discovery market vendors

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