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Cloud FinOps Market Share

Report ID: GMI11904
Published Date: Oct 2024
Report Format: PDF

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Cloud FinOps Market Share

Microsoft, Google, AWS, IBM, VMware, Oracle and ServiceNow collectively held a substantial market share of 35.5% in the cloud FinOps sector in 2023. These companies have developed robust platforms that integrate advanced cost management tools, resource optimization features, and real-time analytics, meeting the growing demand for effective cloud financial operations. Their strong brand recognition, extensive customer base, and ongoing investments in innovation have positioned them as leaders in the FinOps space, enabling organizations to effectively manage cloud expenses and drive financial accountability. Additionally, their global reach and scalability make them ideal partners for businesses looking to streamline their cloud financial strategies.

Cloud FinOps Market Companies

Major players operating in the cloud FinOps industry are:

AWS
Flexera
Google
HCL Technologies
IBM
Microsoft
Oracle
SAP
ServiceNow
VMware

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of cloud FinOps reached USD 1.7 billion in 2023 and is set to grow at a 14.7% CAGR from 2024 to 2032, driven by the increasing focus on managing and optimizing cloud costs.

The cost management and optimization segment held over 35% of the market share in 2023, reflecting organizations' focus on managing cloud expenditures effectively.

The solutions segment captured 71.4% of the market share in 2023, led by the need for advanced tools that provide visibility into cloud costs and optimize resource utilization.

The U.S. market is projected to exceed USD 1.9 billion by 2032, propelled by the widespread adoption of cloud technologies and the need for optimized cloud cost management.

The key players in the industry include AWS, Flexera, Google, HCL Technologies, IBM, Microsoft, Oracle, SAP, ServiceNow, and VMware.