Cloud Discovery Market Size Worth USD 2.56 Billion at CAGR of 16.5%, By 2026

Cloud Discovery Market Size Worth USD 2.56 Billion at CAGR of 16.5%, By 2026

“Cloud Discovery Market”
Cloud Discovery Market Size – USD 746.6 Million in 2018, Market Growth – CAGR of 16.5%, Market Trends –Rapid adoption of IT-based applications.

Rise in cloud adoption owing to benefits such as high-quality web services, data sharing through file feeds, and single sign-on connection across the network are driving the market.

The global Cloud Discovery Market is forecast to reach USD 2.56 Billion by 2026, according to a new report by Reports and Data. Cloud Discovery is an open-source tool that helps enterprises infrastructure, security teams, and operations, to recognize all the cloud-native platform services, like managed Kubernetes platforms, container registries, and serverless services that are used among cloud providers.

Cloud Discovery is a powerful tool for security and audit practitioners that want to discover all the ‘unknown unknowns’ across environments in a simple way. Cloud Discovery connects to the cloud provider’s native platform APIs to find services and their metadata and need only read permissions. It also has a network discovery option that is used to discover cloud-native apps and infrastructure, and it also uses port scanning to sweep IP ranges. It is provided as a simple Docker container image that can be run anywhere and works for both automation and interactive use.

The market is expected to grow in the coming years due to the increasing adoption of cloud computing across different verticals. Moreover, concerns for the security of IT infrastructure is also augmenting market growth. However, a lack of sufficient infrastructure among SMEs is expected to hinder the growth of the market.

Rising smart technology innovations and increasing demand to enhance overall infrastructure scalability among different verticals will drive the market in the Asia Pacific region. The region is forecasted to grow with a CAGR of 17.0% during the forecast period.

Key participants Mcafee, Qualys, BMC Software, Puppet, Cisco Systems, Certero, Servicenow, Netskope, Connectwise, and Movere, among others.

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Further key findings from the report suggest

  • The cloud discovery solution held the larger market share of 62.3% in the year 2018. Rapid growth in cloud-based technologies has led to the adoption of cloud services for regular jobs, by various verticals. IT operators manage the pool of IT resources and control the data being shared externally and internally.
  • Telecommunications and IT are forecasted to grow with a CAGR of 16.7% during the forecast period. Telecom companies have started to transform themselves into technology providers by creating mobile applications for the usage of VoIP calls and data storage on cloud platforms.
  • Growth in IT organizations and the development of innovative technologies has led to increased spending on security in cloud computing and mobility. This is driving the adoption of secure and robust cloud discovery platforms.
  • North America dominated the market owing to the high rate of adoption of advanced technologies in the region which is expected to propel market demand. The presence of leading market players in the region, such as Canada and the U.S., is also expected to boost the market growth. North America held a market share of 32.1% in the year 2018.

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For the purpose of this report, Reports and Data have segmented into the global Cloud Discovery market on the basis of component, organization size, and industry vertical, and region:

Component Outlook (Revenue: USD Billion; 2016-2026)

  • Solutions
  • Services          

Organization Size Outlook (Revenue: USD Billion; 2016-2026)

  • Large Enterprises
  • Small and Medium-Sized Enterprises

Industry Vertical Outlook (Revenue: USD Billion; 2016-2026)

  • Banking, Financial Services, and Insurance
  • Telecommunications and IT
  • Government and Public Sector
  • Healthcare and Life Sciences
  • Retail and Consumer Goods
  • Manufacturing
  • Media and Entertainment
  • Transportation and Logistics

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Regional Outlook (Revenue: USD Billion; 2016-2026)

  • North America
  • Europe
  • Asia Pacific
  • MEA
  • Latin America

, all aspects of the Cloud Discovery market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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