The cloud discovery market was valued at USD 635.8 Million in 2017 and projected to reach USD 1,564.1 Million, growing at a Compound Annual Growth Rate (CAGR) of 16.4%.
Northbrook, IL -- (SBWIRE) -- 06/19/2018 -- The application discovery is expected to hold the largest market share during the forecast period
Cloud application discovery solutions enables an IT administrator to discover the unmanaged cloud applications that are being used by the members of the organization. This helps administrators to control unauthorized access to corporate data, potential data leakage, and other security risks inherent in the applications. CipherCloud's study for North America and Europe in 2014 concluded that 86% of cloud applications used by enterprises were unsanctioned by the IT administrator. Therefore, with the adoption of cloud discovery solutions, administrators can continuously discover and categorize all the cloud applications users are accessing.
The retail and consumer goods vertical is expected to grow at the fastest rate during the forecast period
The retail and consumer goods vertical has undergone significant transformation with the emergence of cloud-based technologies. Retailers constantly strive to improve efficiency and reduce cost. Managing their large application portfolios and distributed infrastructures has become increasingly complex and expensive for the IT departments. Retailers are aggressively pursuing the use of cloud computing, primarily for cost reduction, speed-to-market, and quality benefits. Therefore, to simplify the business process and control the unmanaged IT resources, it is expected that the adoption trend of the cloud discovery solutions would grow significantly in this vertical.
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North America is expected to hold the largest market share, whereas Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period
North America dominates the cloud discovery market as it is the most advanced region with respect to the usage of cloud application and IT infrastructure. Due to the presence of a large number of vendors offering cloud discovery solutions and services in this region, it is expected to hold the largest market share during the forecast period. Moreover, enterprises in this region have invested heavily in the cloud computing technologies to gain a competitive edge over its competitors and improve its overall business operations. On the other hand, the APAC region is in its initial growth phase; however, it is expected to be the fastest growing region in the global cloud discovery market. The increasing adoption of cloud discovery in this region can be attributed to the wide-spread presence of Small and Medium-sized Enterprises (SMEs) that are implementing low cost cloud-based technologies to achieve in-depth visibility and control over their cloud applications and IT infrastructure.
Major vendors providing cloud 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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