Cloud Discovery Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The Cloud Discovery Market is expected to expand at a CAGR of 19.1% from 2023 to 2031. Growing adoption of multi-cloud environments is likely to be a key trend in the market

Cloud Discovery Market Analysis

• Cloud discovery is critical for enterprises seeking to maintain control over their cloud infrastructures, reduce costs, improve security, and assure compliance.
• As more organizations move sensitive data to the cloud, there is a greater need to determine what types of data are in various cloud storage models, track data in all cloud environments, and control data protection across every cloud installation.
• Emerging technologies and services can help enterprises discover, organize, and track data in the cloud. For example, Artificial Intelligence (AI) and Machine Learning (ML) algorithms are being integrated into cloud discovery solutions to improve automation, intelligence, and predictive capabilities.

Cloud Discovery Market Overview

• Cloud discovery is the act of finding and categorizing all cloud-based resources, services, and applications in an organization's IT architecture.
• Cloud discovery features such as data sharing through file feeds, high-quality online services, and a single sign-on connection across the network are driving the adoption of cloud computing technology among many industry sectors.
• Further, advanced technologies such as AI and ML  allow for more accurate identification of cloud assets, real-time monitoring of cloud environments, and proactive threat detection. All these factors are expected to boost the growth of the cloud discovery market during the forecast period.

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Cloud Discovery Market: Strategic Insights

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Cloud Discovery Market Drivers and Opportunities

Increasing Need to Manage Security of the IT Infrastructure

• Implementing a strong infrastructure protection strategy is critical in today's threat-laden digital ecosystem. IT infrastructure services can assist firms in implementing advanced security methods, such as secure network architectures, intrusion detection systems, and strict access control mechanisms.
• Businesses that shift their operations to the cloud confront severe regulatory constraints and rising cybersecurity threats. GDPR and other compliance regulations require stringent data protection procedures, making it critical for enterprises to maintain the security and integrity of cloud environments.
• Thus, the demand for the cloud discovery market to cater to the need for security and compliance is expected to grow during the forecast period.

Increasing Adoption of Cloud Discovery Services Among SMEs

• Since its inception, cloud computing adoption has increased at a rapid pace. Adoption is motivated by a variety of factors, including cost savings, increased scalability, better resource usage, worker mobility and cooperation, and business continuity.
• Cloud computing is a well-known revolutionary technology that has influenced a variety of companies, including small and medium-sized enterprises. Industrialists and technocrats worldwide are frequently debating this topic to stay competitive.
• For SMEs, the cloud provides a better and leaner IT solution that reduces costs and increases productivity. The cloud provides numerous clear benefits to SMEs, like increased data protection, reduced downtime, flexible storage, CRM administration, resource efficiency, and remote computing.

Cloud Discovery Market Report Segmentation Analysis

The key segments that contributed to the derivation of the Cloud Discovery market analysis are component, enterprise size, and industry vertical.

• On the basis of components, the market is segmented into solutions and services.
• On the basis of enterprise size, the market is divided into large enterprises and small & medium enterprises.
• Based on industry vertical, the market is divided into IT & telecommunication, BFSI, retail, industrial, healthcare, and others.

Cloud Discovery Market Share Analysis By Geography

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

• Cloud Discovery Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Cloud Discovery market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the Cloud Discovery market in these regions.

Cloud Discovery Market Regional Insights

The regional trends and factors influencing the Cloud Discovery Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cloud Discovery Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Cloud Discovery Market Report Scope

Cloud Discovery Market Players Density: Understanding Its Impact on Business Dynamics

The Cloud Discovery Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Cloud Discovery Market are:

1. BMC Software, Inc.
2. Cisco Systems, Inc.
3. iQuate
4. McAfee
5. LLC
6. Nephos Technologies

Disclaimer: The companies listed above are not ranked in any particular order.

Cloud Discovery Market News and Recent Developments

The cloud discovery market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the cloud discovery market are listed below:

• BMC, a global leader in software solutions for the Autonomous Digital Enterprise, announced that the BMC Helix ITSM solution has been granted Provisional Authorization for Impact Level 5 (IL-5) from the Defense Information Systems Agency (DISA). The DISA Impact Level Provisional Authorization process allows the Department of Defense (DoD) to certify cloud SaaS offerings that meet security requirements mandated by the sensitivity of the information. DISA IL-5 authorization for the BMC Helix ITSM solution in the Amazon Web Services (AWS) GovCloud verifies the platform meets stringent U.S. DoD security requirements for items in the Controlled Unclassified Information (CUI) category. (Source: BMC, Newsroom, April 2023)

Cloud Discovery Market Report Coverage & Deliverables

The Cloud Discovery market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Cloud Discovery Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• Cloud Discovery  market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Cloud Discovery  market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Cloud Discovery  market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the Cloud Discovery  market
• Detailed company profiles.