Cloud Discovery Market Size, Share, Industry Trends and Forecast to 2030

Cloud Discovery Market Size & CAGR in 2021

The global cloud discovery market is expected to grow at a CAGR of 15.3% from 2021 to 2026. The market size in 2021 was valued at USD 2.5 billion and is projected to reach USD 6.8 billion by 2026. The increasing adoption of cloud computing technologies across various industries is the primary driver of market growth. Organizations are moving towards cloud services to enhance agility, scalability, and cost-efficiency. Cloud discovery solutions help companies identify and manage their cloud assets, providing visibility and control over cloud resources.

COVID-19 Impact on the Cloud Discovery Market

The COVID-19 pandemic has accelerated the adoption of cloud services as businesses shifted to remote work. This increased demand for cloud solutions has driven the growth of the cloud discovery market. Organizations have realized the importance of understanding and managing their cloud environment to ensure security and compliance. Cloud discovery tools have become essential for monitoring and controlling cloud usage, especially with the rise of remote workforces.

Cloud Discovery Dynamics

The cloud discovery market is evolving rapidly due to advancements in cloud technology and the increasing complexity of cloud environments. Key dynamics driving market growth include the need for enhanced security and compliance measures, the rising adoption of multi-cloud and hybrid cloud architectures, and the demand for real-time visibility and control over cloud assets. As organizations continue to migrate their workloads to the cloud, the importance of cloud discovery solutions will only increase.

Segments and Related Analysis

By Deployment Model

- Public Cloud - Private Cloud - Hybrid Cloud

By Organization Size

- Small and Medium-sized Enterprises - Large Enterprises

By Vertical

- IT and Telecommunications - BFSI - Healthcare - Retail - Others

By Region Analysis

North America

- The North American cloud discovery market accounted for the largest share in 2021, driven by the presence of key market players, technological advancements, and early adoption of cloud technologies in the region.

Europe

- The European cloud discovery market is expected to witness significant growth due to the increasing focus on data security and compliance regulations in the region.

Asia Pacific

- The Asia Pacific cloud discovery market is projected to grow at a high CAGR, fueled by the rapid digital transformation and adoption of cloud solutions in emerging economies like China and India.

Latin America

- The Latin American cloud discovery market is poised for growth as organizations in the region embrace cloud technologies to drive innovation and agility.

Middle East and Africa

- The MEA cloud discovery market is expected to expand due to the increasing investment in cloud infrastructure and the growing awareness of cloud security among enterprises in the region.

Key Market Players and Competitive Landscape

1. IBM Corporation 2. Microsoft Corporation 3. Amazon Web Services, Inc. 4. Google LLC 5. Cisco Systems, Inc. 6. McAfee, LLC 7. VMware, Inc. 8. Symantec Corporation 9. Palo Alto Networks, Inc. 10. Check Point Software Technologies Ltd.

Recent Happenings in the Cloud Discovery Market

- In March 2022, IBM launched a new cloud discovery platform to help organizations gain visibility into their cloud environments and optimize their cloud resources. - Microsoft announced the acquisition of a cloud discovery startup in February 2022 to enhance its cloud management offerings. - Amazon Web Services introduced new cloud discovery tools in January 2022 to help customers monitor and control their cloud usage more effectively. - Google Cloud partnered with a leading cybersecurity firm in December 2021 to provide advanced cloud discovery and security solutions to customers. - Cisco Systems released a comprehensive cloud discovery solution in November 2021 to help enterprises secure their cloud environments and prevent data breaches.