Cloud FinOps Market

According to a research report "Cloud FinOps Market Size by Application (Cost Management & Optimization, Budgeting & Forecasting, Cost Allocation & Chargeback, Reporting & Analytics, Workload Management & Optimization), Service Model (IaaS, PaaS, SaaS) - Global Forecast to 2029", published by MarketsandMarkets, the cloud FinOps market is estimated at USD 13.5 billion in 2024 and is projected to reach USD 23.3 billion by 2029, at a CAGR of 11.4% from 2024 to 2029.

Browse 323 market data Tables and 65 Figures spread through 337 Pages and in-depth TOC on "Cloud FinOps Market Size by Application (Cost Management & Optimization, Budgeting & Forecasting, Cost Allocation & Chargeback, Reporting & Analytics, Workload Management & Optimization), Service Model (IaaS, PaaS, SaaS) - Global Forecast to 2029"
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The demand for cloud FinOps solutions is expected to increase in the coming years. The widespread usage of cloud computing is driving the adoption of financial management solutions to help optimize cloud expenditure. Cloud FinOps solutions help businesses automate expense tracking and assure effective resource allocation. In addition, companies are integrating AI-driven analytics to improve forecasting and monitoring, increasing the need for cloud FinOps technologies. The increased digital transformation activities across the BFSI, IT, and Retail verticals also expand the cloud FinOps market growth. The increased focus on regulatory compliance and cost accountability drives businesses to embrace FinOps frameworks, which help companies manage their cloud usage, properly allocate expenses, and ensure adherence to financial and regulatory standards.

Based on the solution, the native solutions segment is expected to hold the largest market share during the forecast period.

The native solutions sub-segment is expected to hold the largest market share in the cloud FinOps market. Native solutions in the cloud FinOps market refer to built-in cost management and optimization tools, which are also provided by major cloud services providers such as AWS, Azure, and Google Cloud. Native solutions help businesses track, analyze, and optimize cloud spending, making managing resources and controlling costs more manageable. With features like cost allocation tagging and budgeting tools, these solutions help organizations maximize their cloud investments while keeping finances in check.

Native solutions enable FinOps teams to streamline cloud cost management by integrating directly with cloud providers' billing systems, security controls, and automation tools while ensuring compliance and efficiency. These solutions make setup and configuration easier and faster, reducing implementation time. Furthermore, native solutions have built-in security features like network protection, data encryption, and compliance checks to keep data, workloads, and financial transactions safe. They also provide real-time updates and analytics, helping FinOps teams track spending, manage resources efficiently, and follow the best cost-saving practices.

Based on the application, the budgeting & forecasting segment is expected to have the highest CAGR growth rate during the forecast period.

The cloud FinOps market by application is segmented into cost management & optimization, budgeting & forecasting, cost allocation & chargeback, workload management & optimization, reporting & analytics, and other applications. Budgeting & forecasting tools help organizations efficiently strategize, estimate, and monitor their finances, making budgeting & forecasting tools essential in optimizing cost management and financial planning. The tools and algorithms available in budgeting & forecasting applications help analyze past data, current trends, and future projections, making it easier to allocate budgets accurately and predict outcomes. Organizations can save costs, optimize resources, and align expenses with business goals using real-time data and advanced analytics. Cloud-based budgeting and forecasting apps offer scalability and flexibility, enabling businesses to quickly adjust to evolving market conditions and operational requirements. Organizations can drive sustainable growth in the cloud era by making informed decisions, mitigating risks, and having enhanced visibility and control over financial performance.

US market to hold largest share of North America's cloud FinOps market

The US is anticipated to hold the largest market share in the global cloud FinOps market throughout the forecast period. The US Cloud FinOps market is growing at a fast pace due to the presence of major cloud providers who are further investing in research and development of the cloud. In August 2024, Google announced a USD 1 billion investment in new Texas data centers to support cloud and AI expansion, procuring 375 MW of renewable energy and bringing its total Texas investment to USD 2.7 billion. In line with the cloud transition, nOps, a US based provider of cloud management solutions, received a Series A investment of USD 30 million from Headlight Partners in March 2024 to increase AWS cloud cost-effectiveness. It uses AI-driven FinOps to automate expenditure management, improve EKS, EC2, ASG, and ECS, and broaden AWS connections.

The US cloud FinOps market is expanding due to stringent financial reporting and audit compliance requirements imposed by legislation such as SOX (Sarbanes-Oxley Act), SEC mandates, and GAAP standards. The Sarbanes-Oxley Act (SOX) is a US regulation that requires stringent internal controls and frequent audits to assist corporations in maintaining accurate financial records and preventing fraud. The Securities and Exchange Commission (SEC) enforces accurate financial reporting to safeguard investors and sustain market trust. GAAP (Generally Accepted Accounting Principles) is a set of standard accounting rules companies follow to keep their financial statements clear and consistent.

Key Players:

Some of the major cloud FinOps vendors include AWS (US), Microsoft (US), IBM (US), Google (US), Oracle (US), Hitachi (Japan), VMware (US), ServiceNow (US), Datadog (US), Lumen Technologies (US), DoiT (US), and Flexera (US).

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