The study comprised four main activities to estimate the cloud FinOps market size. We conducted significant secondary research to gather data on the market, the competing market, and the parent market. The following stage involved conducting primary research to confirm these conclusions and hypotheses and sizing with industry experts throughout the value chain. The overall market size was evaluated using a blend of top-down and bottom-up approach methodologies. After that, we estimated the market sizes of the various cloud FinOps market segments using the market breakup and data triangulation techniques.
Secondary Research
The market size of companies offering cloud FinOps was arrived at based on the secondary data available through paid and unpaid sources and by analyzing the product portfolios of major companies in the ecosystem and rating the companies based on their product capabilities and business strategies.
In the secondary research process, various sources were referred to to identify and collect information for the study. The secondary sources included annual reports, press releases, investor presentations of companies, product data sheets, white papers, journals, certified publications, and articles from recognized authors, government websites, directories, and databases.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives, all of which were further validated by primary sources.
Primary Research
In the primary research process, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side included industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the cloud FinOps market.
Primary interviews were conducted to gather insights, such as market statistics, the latest trends disrupting the market, new use cases implemented, data on revenue collected from products and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped understand various trends related to technologies, segmentation types, industry trends, and regions. Demand-side stakeholders, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Security Officers (CSOs), the installation teams of governments/end users using cloud FinOps, and digital initiatives project teams, were interviewed to understand the buyers’ perspective on suppliers, products, service providers, and their current use of services, which would affect the overall cloud FinOps market.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The cloud FinOps market and related submarkets were estimated and forecasted using top-down and bottom-up methodologies. The bottom-up method was used to determine the market's overall size, using the revenues and product offerings of the major market players. This research ascertained and validated the precise value of the total parent market size through data triangulation techniques and primary interview validation. Next, using percentage splits of the market segments, the overall market size was utilized in the top-down approach to estimate the size of other individual markets.
Top Down and Bottom Up Approach of Cloud FinOps Market.
The research methodology used to estimate the market size included the following:
-
Primary and secondary research was utilized to determine the revenue contributions of the major market participants in each country after secondary research helped identify them.
-
Throughout the process, critical insights were obtained by conducting in-depth interviews with industry professionals, including directors, CEOs, VPs, and marketing executives, and by reading the annual and financial reports of the top firms in the market.
-
Primary sources were used to verify all percentage splits and breakups, which were calculated using secondary sources.
Data Triangulation
The market was divided into several segments and subsegments using the previously described market size estimation procedures once the overall market size was determined. When required, market breakdown and data triangulation procedures were employed to complete the market engineering process and specify the exact figures for every market segment and subsegment. The data was triangulated by examining several variables and patterns from government entities' supply and demand sides.
Market Definition
MarketsandMarkets defines Cloud FinOps as “a set of practices and tools designed to manage, optimize, and govern financial expenditures in cloud computing environments. It involves a combination of financial management, cost optimization, and operational practices to maximize the business value of cloud spending. Cloud FinOps aims to provide organizations with visibility, accountability, and control over their cloud costs, enabling them to optimize cloud resource usage, manage budgets, and implement cost-saving strategies effectively.”
Key Stakeholders
-
Cloud FinOps Solution Providers
-
Cloud Financial Analysts
-
Cloud Engineers
-
Cloud Architects
-
Cloud Operations Teams
-
Chief Financial Officers (CFOs)
-
IT Procurement Managers
-
Cloud Service Providers (CSPs)
-
Finance and Accounting Teams
-
Compliance and Governance Teams
Report Objectives
-
To define, describe, and forecast the global Cloud FinOps market based on offering, application, service model, deployment model, organization size, vertical, and region
-
To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
-
To strategically analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market
-
To provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
-
To strategically analyze macro and micro markets with respect to growth trends, prospects, and their contributions to the overall market
-
To analyze industry trends, patents and innovations, and pricing data related to the Cloud FinOps market
-
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players
-
To profile key players in the market and comprehensively analyze their market share/ranking and core competencies
-
To track and analyze competitive developments, such as mergers & acquisitions, product developments, and partnerships & collaborations in the market
Available Customizations
MarketsandMarkets provides customizations based on the company's unique requirements using market data. The following customization options are available for the report:
Product Analysis
-
The product matrix provides a detailed comparison of each company's product portfolio.
Geographic Analysis
-
Further breakup of the cloud FinOps market
Company Information
-
Detailed analysis and profiling of five additional market players
Growth opportunities and latent adjacency in Cloud FinOps Market