According to marketresearch report " Cloud DiscoveryMarket by Solution (Application Discovery andInfrastructure Discovery), Service (Professional Services and ManagedServices), Organization Size (Large Enterprises and SMES), Vertical, and Region- Global Forecast to 2023", The cloud discoverymarket size is expected to grow from USD 730.8 Million in 2018 to USD 1,564.1Million by 2023, at a Compound Annual Growth Rate (CAGR) of 16.4% during theforecast period.
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The demand for clouddiscovery is expected to be driven by growing adoption of multi-cloud andincreasing need to efficiently manage the security of the IT infrastructure.Moreover, with the increasing usage of cloud applications across differentverticals and the rising trend of Bring Your Own Device (BYOD), the adoptionrate of cloud discovery among enterprises is expected to gain a major tractionduring the forecast period.
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Theapplication discovery is expected to hold the largest market share during theforecast period
Cloud applicationdiscovery solutions enables an IT administrator to discover the unmanaged cloudapplications that are being used by the members of the organization. This helpsadministrators to control unauthorized access to corporate data, potential dataleakage, and other security risks inherent in the applications. CipherCloud’sstudy for North America and Europe in 2014 concluded that 86% of cloud applicationsused by enterprises were unsanctioned by the IT administrator. Therefore, withthe adoption of cloud discovery solutions, administrators can continuouslydiscover and categorize all the cloud applications users are accessing.
North America is expectedto hold the largest market share, whereas Asia Pacific (APAC) is expected togrow at the fastest rate during the forecast period
North America dominatesthe cloud discovery market as it is the most advanced region with respect tothe usage of cloud application and IT infrastructure. Due to the presence of alarge number of vendors offering cloud discovery solutions and services in thisregion, it is expected to hold the largest market share during the forecastperiod. Moreover, enterprises in this region have invested heavily in the cloudcomputing technologies to gain a competitive edge over its competitors andimprove its overall business operations. On the other hand, the APAC region isin its initial growth phase; however, it is expected to be the fastest growingregion in the global cloud discovery market. The increasing adoption of clouddiscovery in this region can be attributed to the wide-spread presence of Smalland Medium-sized Enterprises (SMEs) that are implementing low cost cloud-basedtechnologies to achieve in-depth visibility and control over their cloudapplications and IT infrastructure.
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The retail and consumer goods vertical is expected to grow at the fastest rateduring the forecast period
The retail and consumergoods vertical has undergone significant transformation with the emergence ofcloud-based technologies. Retailers constantly strive to improve efficiency andreduce cost. Managing their large application portfolios and distributedinfrastructures has become increasingly complex and expensive for the IT departments.Retailers are aggressively pursuing the use of cloud computing, primarily forcost reduction, speed-to-market, and quality benefits. Therefore, to simplifythe business process and control the unmanaged IT resources, it is expectedthat the adoption trend of the cloud discovery solutions would growsignificantly in this vertical.
Major vendors providingcloud discovery solutions and services are AlienVault (US), ASG Technologies(US), BMC Software (US), Certero (UK), CipherCloud (US), Cisco Systems (US),Connectwise (US), iQuate (Ireland), Kmicro (US), ManageEngine (US), McAfee(US), Movere (US), Nephos Technologies (UK), NetSkope (US), Nuvalo (US),Perpetuuiti (Singapore), Puppet (US), Qualys (US), ScienceLogic (US),ServiceNow (US), vArmour (US), Virima Technologies (US), WhiteHat Security(US), Ziften (US), and Zscaler (US).
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