Cloud Governance Platform Market Size, Share, Opportunities, And Trends By Deployment (Public Cloud, Hybrid Cloud, Private Cloud), By Functionality (Security And Compliance, Identity And Access Management, Cloud Workload Portability, Automation, Others), By End-User (Small Enterprise, Medium Enterprise, Large Enterprise), And By Geography - Forecasts From 2024 To 2029

  • Published : Oct 2024
  • Report Code : KSI061617114
  • Pages : 140

The cloud governance platform market is expected to grow at a CAGR of 11.27%, reaching a market size of US$5.539 billion in 2029 from US$3.248 billion in 2024.

A cloud governance solution is used to effectively manage and control virtual resources with optimum utilization while ensuring safety and adherence to set guidelines. These platforms have capabilities like cost optimizations and tracking, monitoring security, automating compliance checks, and implementing set policies. They assist organizations in adhering to different regulations, safeguarding tobacco consumers, and cutting down the costs of clouds.

Key features include predominant policy administration, dashboarding, workflow automation, access monitoring, and control. These platforms can integrate with many cloud services, providing a single view of the entire cloud backbone. Cloud governance frameworks are particularly useful in regulated sectors like banking, health care, or e-commerce, where compliance and data security are essential.

What are the cloud governance platform market growth drivers?

  • Demand for real-time visibility is anticipated to boost the market growth

The cloud governance platform market is experiencing heightened demand for the capacity to monitor and manage all cloud resources in real-time. Since most of the core business functions have been migrated to cloud services, such businesses require a more precise and detailed perspective of their existing cloud setup.

Organizations can track the consumption of reserves, identify potential choke points or threats to safety, and optimize work effectiveness with real-time visibility. This seniority of vision ensures that no wastage or unnecessary costs are incurred, encouraging proactive management.

In the same way, it is impossible to ensure regulatory compliance, security, and governance without controlling the cloud components in real-time. Organizations must be capable of implementing policies, controlling access rights, and monitoring changes in real time to protect data and stay within the set rules.

Cloud governance platforms equip administrators with centralized control systems through which they can manage processes, impose rules, and deal with issues as they arise. This improves operational efficiency and helps in minimizing the risk of possible data breaches or unauthorized access, increasing the adoption of cloud governance solutions.

  • Increased adaptable governance solutions are anticipated to drive market growth

The IT infrastructure has been altered significantly due to the emergence of edge and hybrid computing. Hybrid computing takes advantage of both public or private clouds and on-premises facilities to enable resource flexibility and availability.

Edge computing, by definition, means a paradigm in which computing is carried out as close as possible to the source of the data that is being communicated so as to reduce latency and enhance improved real-time delay-sensitive processes. Recent trends in IT have resulted in great degrees of transformation along the architectural and infrastructural dimensions, leading to increased complexities, hence the need for proper governance mechanisms.

In this environment, dependable policy enforcement, security, and compliance across all computing environments depend on flexible governance solutions. These systems must flawlessly integrate with a wide range of platforms, such as edge devices, private data centers, and public clouds.

Moreover, the emergence of edge and hybrid computing underscores the necessity for adaptable governance solutions capable of efficiently managing diverse infrastructure components while ensuring real effectiveness, security, and compliance across the computing environment.

  • Rising healthcare expenditure is increasing the market share

By modernizing predictive analytics and decision-making procedures, cloud governance platforms benefit greatly from AI and machine learning integration. Large volumes of data from cloud environments can be analyzed by AI processes, which can quickly and accurately isolate patterns, anomalies, and possible threats.

Such competence makes it plausible to eliminate/reduce the potential risks, thus enhancing security and compliance at large, as companies can envisage problems and address them before they escalate. On the other hand, predictive analytics improves with time due to the continuous learning and adjustment of machine learning algorithms to use case data. These processes can anticipate resource consumption, identify patterns, and optimize cloud infrastructure, which reduces costs and improves resource distribution. Furthermore, AI-powered decision-making in cloud governance platforms empowers businesses to swiftly and assertively make data-driven choices that maximize resilience, scalability, and performance in dynamic cloud environments.

Major challenges hindering the growth of the cloud governance platform market:

  • Data security and compliance are anticipated to impede market growth

The complexity of multi-cloud setups raises the issue of data breaches or unauthorized access. As different cloud providers may require different means of access control, encryption techniques, and security policies, it is tantalizing to deploy an integrated security model across all environments.

It is irrefutable that a well-defined policy must be in place and adhered to, ensuring that data storage and handling in multi-cloud scenarios are compliant with best practices. Policy gaps on these matters may cause unspeakable costs in the form of data breaches, litigation, and damage to organizational credibility concerning multi-cloud operations.

Additionally, the utilization of artificial intelligence on cloud governance platforms to support decision-making enables organizations to make timely and bold data-based decisions that optimize resilience, scalability, and performance dynamism in ever-changing cloud environments.

What are the key geographical trends shaping the cloud governance platform market?

  • North America is witnessing exponential growth during the forecast period

The United States has well-developed leadership in cloud governance platforms supported by a robust network of cloud service providers and an imaginative IT organ. The industrial landscape in the USA is quite developed due to huge corporates like AWS, Microsoft, and Google, which encourage cloud services and innovation. Cloud computing benefits from the widespread convenience of high-speed internet and the significant reserves found in data centers.

Recent developments in the cloud governance platform market

  • In May 2024, the expansion of IBM and Salesforce's collaboration to promote trusted, open AI and data ecosystems is connected to cloud governance platforms. This also encompasses an enhanced focus on ethical AI practices, pre-configured actions and suggestions for use in customer relationship management (CRM) systems, adapting prompts for extensive language models (ELMs), and two-way data exchange.
  • In March 2024, Flexera released a new technology called Flexera One FinOps, the first solution enhancing the merger of IT asset management (ITAM) and FinOps, strengthening an organization’s FinOps and cloud center of excellence teams. With the help of Flexera One FinOps, such cross-team collaboration is confined to the cloud teams and their immediate partners. It extends to ITAM, software licensing, IT operations and engineering, finance, engineering, and even security all at once.

Cloud Governance Platform Market Scope:

Report Metric Details
Cloud Governance Platform Market Size in 2024 US$3.248 billion
Cloud Governance Platform Market Size in 2029 US$5.539 billion
Growth Rate CAGR of 11.27%
Study Period 2019 to 2029
Historical Data 2019 to 2022
Base Year 2024
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segmentation
  • Deployment
  • Functionality
  • End-User
  • Geography
Geographical Segmentation North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in Cloud Governance Platform Market
Customization Scope Free report customization with purchase

The Cloud governance platform market is analyzed into the following segments:

  • By Deployment
    • Public Cloud
    • Hybrid Cloud
    • Private Cloud
  • By Functionality
    • Security and Compliance
    • Identity and access management
    • Cloud Workload Portability
    • Automation
    • Others
  • By End-User
    • Small Enterprise
    • Medium Enterprise
    • Large Enterprise
  • By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits to the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO Perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. CLOUD GOVERNANCE PLATFORM MARKET BY DEPLOYMENT

5.1. Introduction

5.2. Public Cloud

5.3. Hybrid Cloud

5.4. Private Cloud

6. CLOUD GOVERNANCE PLATFORM MARKET BY FUNCTIONALITY

6.1. Introduction

6.2. Security and Compliance

6.3. Identity and Access Management 

6.4. Cloud Workload Portability

6.5. Automation

6.6. Others

7. CLOUD GOVERNANCE PLATFORM MARKET BY END-USER

7.1. Introduction

7.2. Small Enterprise

7.3. Medium Enterprise

7.4. Large Enterprise

8. CLOUD GOVERNANCE PLATFORM MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Deployment

8.2.2. By Functionality

8.2.3. By End-User

8.2.4. By Country

8.2.4.1. United States

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Deployment

8.3.2. By Functionality

8.3.3. By End-User

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Deployment

8.4.2. By Functionality

8.4.3. By End-User

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.2. Germany

8.4.4.3. France

8.4.4.4. Italy

8.4.4.5. Others

8.5. Middle East and Africa

8.5.1. By Deployment

8.5.2. By Functionality

8.5.3. By End-User

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. Israel

8.5.4.3. Others

8.6. Asia Pacific

8.6.1. By Deployment

8.6.2. By Functionality

8.6.3. By End-User

8.6.4. By Country

8.6.4.1. Japan

8.6.4.2. China

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Indonesia

8.6.4.6. Thailand

8.6.4.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Salesforce, Inc. 

10.2. Flexera

10.3. BMC Software, Inc.

10.4. Q4 Inc.

10.5. Broadcom

10.6. AWS

10.7. Microsoft

10.8. IBM

10.9. Oracle


Salesforce, Inc. 

Flexera

BMC Software, Inc.

Q4 Inc.

Broadcom

AWS

Microsoft

IBM

Oracle