Worldwide Cloud Cost Transparency Software Market Shares, 2021: Rapid Growth Continues

Worldwide Cloud Cost Transparency Software Market Shares, 2021: Rapid Growth Continues

VMware led the market with an estimated $217.1 million in revenue, representing 21.4% of the worldwide cloud cost transparency competitive market, and ServiceNow reached $108 million, making them the only two vendors above the $100 million mark. ServiceNow represents 10.7% of the market. BMC, Morpheus, Densify, Apptio, NetApp, and Flexera were also in IDC's top 8 market leaders. Snow Software and Virtana had large year-over-year (y/y) growth rates of over 100% but outside the top 8 in total revenue. Refer back to Figure 1 for a snapshot of the leading market share vendors in 2021. Refer to Table 1 for a detailed list of the active vendors in this market."Economic and inflationary challenges are pressuring IT budgets. Cloud cost transparency solutions offer enterprises an answer to these challenges, and adoption is dramatically increasing. As a result, this fast-growing market crossed the $1 billion mark for the first time," stated Jevin Jensen, IDC research vice president of Intelligent CloudOps Markets and Opportunities.

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