The Cloud Discovery Market is to Touch $4.1 Billion by 2030; Growing adoption of multi-cloud environments and increasing need for compliance and security are expected to propel the growth of the Cloud Discovery Market.

The Cloud Discovery Market size is estimated to reach $4.1 billion by 2030, growing at a CAGR of 16.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Cloud Discovery Market  – By Organization Size (Large Enterprises, Small & Medium Enterprises), By Component (Solutions[Application Discovery, Infrastructure Discovery], Services[Professional Services, Managed Services]), By Industry Vertical (BFSI, Healthcare & Life Sciences, Telecommunications & ITs, Retail & Consumer Goods, Government & Public Sector, Media & Entertainment, Manufacturing, Transportation & Logistics, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Additionally, one prominent trend in the cloud discovery market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. AI and ML algorithms are being incorporated into cloud discovery solutions to enhance automation, intelligence, and predictive capabilities. These technologies enable more accurate identification of cloud assets, real-time monitoring of cloud environments, and proactive threat detection. By analyzing large datasets and patterns, AI-powered cloud discovery tools can provide actionable insights, streamline workflows, and improve the efficiency of cloud management processes. Another significant trend shaping the cloud discovery market is the increasing focus on hybrid and multi-cloud optimization. As organizations adopt hybrid and multi-cloud strategies to leverage the strengths of different cloud platforms, optimizing resource allocation, performance, and costs across these environments becomes essential. Cloud discovery solutions are evolving to provide comprehensive visibility and control over hybrid and multi-cloud architectures, enabling organizations to identify redundant resources, optimize workloads, and maximize cost-efficiency. 

According to the Cloud Discovery Market analysis, North America region is estimated to hold the largest market share of 33% in 2023. The region has a high concentration of major cloud service providers, including Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, which dominate the global cloud infrastructure landscape. These companies not only offer extensive cloud services but also continually innovate, driving demand for cloud discovery solutions that help organizations manage and optimize their cloud environments effectively. North America's robust technological infrastructure and advanced IT ecosystem support the adoption of cloud discovery tools. The presence of numerous tech-savvy enterprises and startups accelerates the implementation of multi- cloud and hybrid cloud strategies, necessitating sophisticated discovery tools to maintain visibility and control over diverse cloud resources. Additionally, North America's strong emphasis on cybersecurity and regulatory compliance fuels the need for cloud discovery solutions. Enterprises are increasingly required to ensure data security and compliance with regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), which mandate stringent controls over cloud data management and reporting. The high adoption rate of emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), and big data analytics in North America propels the need for advanced cloud discovery solutions.

As IT environments become more complex, driven by the integration of various technologies and services, cloud discovery solutions are increasingly crucial. Enterprises often use a mix of public, private, and hybrid clouds, leading to intricate and opaque IT landscapes. This complexity makes it challenging to manage and monitor cloud resources effectively. Cloud discovery tools help organizations gain visibility into their cloud environments, identify assets, and manage configurations across diverse cloud platforms. These tools enable businesses to understand their cloud infrastructure thoroughly, optimize resource allocation, and streamline management processes. As businesses strive to maintain operational efficiency and reduce costs amidst growing technological complexity, the demand for effective cloud discovery solutions continues to rise.

The increasing emphasis on data-driven decision-making in businesses is another significant driver for the cloud discovery market. Companies are leveraging cloud environments to collect, store, and analyze vast amounts of data to gain insights and make strategic decisions. Cloud discovery solutions play a vital role in this process by providing visibility into data sources, ensuring data integrity, and facilitating efficient data management. By offering insights into data usage and flow, these tools help organizations optimize their data strategies, improve decision-making, and enhance overall business performance. As the reliance on data continues to grow, the need for robust cloud discovery solutions that support effective data management becomes more critical.

Key companies profiled in the Cloud Discovery Market are ServiceNow, Amazon Web Services, Inc, Microsoft, McAfee, LLC, IBM, Cisco Systems, Inc, Oracle, Google LLC (Alphabet Inc.), Netskope, Qualys, Inc, Intel Corporation, Blazeclan Technologies, Palo Alto Networks, CloudNine, Kyndryl Inc. and others.