NEW YORK, The cloud discovery market size is expected to increase by USD 1.27 billion from 2021 to 2026, registering a CAGR of 16.26%, according to the latest research report from Technavio.
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.
Cloud Discovery Market – Scope
The cloud discovery market covers the following areas:
Cloud Discovery Market Sizing Cloud Discovery Market Forecast Cloud Discovery Market Analysis
Cloud Discovery Market – Drivers & Challenges
The key factor 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.
However, the key challenge 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.
Cloud Discovery Market- Segmentation Analysis
The Cloud Discovery Market is segmented by Component (Solutions and Services) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).
Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Companies Mentioned
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. 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.
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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