Cloud Discovery Market Is Anticipated To Grow At A CAGR Of 16.2% to Reach US$ 4.5 Billion By The End Of 2033

The global cloud discovery market size is valued at US$ 1 billion in 2023 and is expected to grow to US$ 4.5 billion by 2033, rising at an excellent CAGR of 16.2% from 2023 to 2033.

The process of analyzing unmanaged cloud applications used by an organization’s colleagues is known as cloud discovery. This helps to prevent unauthorized access to corporate data and combat other security concerns associated with cloud-based technologies. Cloud discovery uses the cloud vendor’s API to acquire data on the client’s cloud services rather than scanning their on-premise equipment.

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Competitive Landscape:

The cloud discovery market’s key players have been observed to prioritize organic growth techniques such as new product launches and other related events such as product promotion and marketing. Partnerships, collaborations, and acquisitions are other important growth strategies used by these players. Furthermore, numerous start-ups are soliciting cash to launch new products.

Britive, a US-based startup, raised $5.4 million in a seed round led by Upfront Ventures in September 2021 to assist reimagine security for multi-cloud enterprise systems. The start-up enables users to rapidly increase their own privilege levels (through pre-authorization) in order to complete crucial administrative tasks in the lowest amount of time.

Key Players:

• Alien Vault, Inc
• Certero
• ASG Technologies Group, Inc
• Iquate
• BMC Software, Inc
• Ciphercloud, Inc
• Cisco Systems, Inc
• KMicro Tech
• ConnectWise, Inc
• McAfee LLC

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Regional Analysis:

 In 2022, North America controlled 33.5% of the global market. As a result of increased demand for automation and cloud-based solutions to perform operations effectively across multiple verticals, the regional market is rapidly expanding.

Because of its massive adoption of innovative cloud-based technology across businesses, the United States leads North America. Furthermore, the presence of major corporations in the United States is boosting regional market growth.

Because of increased smart technology breakthroughs and the growing demand to expand infrastructure scalability across different sectors, the Asia Pacific market is quickly evolving.

Furthermore, in countries such as Japan and South Korea, many small and medium-sized organizations are widely embracing low-cost cloud discovery solutions to secure mission-critical data, strengthening market expansion.

Key Segments of Industry:

• By Component :
  • Solutions
  • Services
• By Organization Size :
  • Large Enterprises
  • SMEs
• By End Use :
  • Telecom & ITES
  • BFSI
  • Retail & Consumer Goods
  • Healthcare & Life Sciences
  • Government & Public Sector
  • Media & Entertainment
  • Manufacturing
  • Transportation & Logistics
  • Others

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