Publication Month: Nov 2020 | Report Code: TIPRE00010358 | No. of Pages: 197 | Category: Technology, Media and Telecommunications | Status: Published
Increasing adoption of cloud solutions for high scalability and flexibility is attributing to the growth of the market. Cloud computing has been driving the transformation of modern workplaces in all major industry verticals such as BFSI, IT & telecom, retail, and healthcare by enhancing security and delivering high scalability & flexibility and thus accelerating the development of innovative solutions and services for enhanced end user experience. Cloud based solutions are relevant for all types of business environments ranging from on-premise, hybrid, or cloud. In addition to this, cloud-based solutions also facilitate easy scalability, lower operating costs, high operational flexibility, faster visibility, and updates to enterprises while reducing costs and operational risks. The continuously evolving cloud architectures and integration of advanced features in cloud solutions are further fueling the adoption of these solutions in diverse end user industries.
Cloud deployment is also an attractive option for companies due to benefits such as need-basis payment, regular data backup, high security, fast updates, comparatively low capital & operations costs, and instant provisioning features provided by these solutions. Moreover, the complex and high installation & maintenance costs associated with on-premise solutions is further driving companies to adopt cloud-based solutions. Hence, scalability, high level of security, operational flexibility, easy deployment, and affordability are some of key advantages that are expected to boost the adoption of cloud-based synthetic monitoring solutions among enterprises in the coming years. With more and more companies offering cloud-based synthetic monitoring and APM solutions such as AppDynamics, Dynatrace LLC, Micro Focus, New Relic, Inc., and SolarWinds Worldwide, LLC among many others, the demand for cloud-based solutions over on-premise is projected to grow at a fast pace over the forecast period of 2020 to 2027.
Owing to the COVID-19 outbreak worldwide, businesses in order to continue daily operations and key business activities, remote working has been adopted by major rapidly among both large enterprises and SMEs. With this development, the demand for secure and high-performance applications to ensure data protection and to maintain superior end user experience is growing at an impressive pace from past few months. Hence, the demand for application performance monitoring solutions such as synthetic monitoring among enterprise is rising in a positive manner.
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Synthetic monitoring tools are being used among enterprises for monitoring of enterprise applications and it provides information regarding uptime and overall performance of critical business transactions by simulating various customer activities. These tools allow companies to bridge the performance gaps that may affect the overall end user experience. Presently, the synthetic monitoring market is dominated by large enterprises in terms of revenue share owing to the large-scale operations of these enterprises coupled with high adoption of such solutions in developed regions such as North America and Europe. In addition to this, large enterprises are also the ones that are driving the trend of digital transformation to improve overall operational efficiency and enhance end user experience. However, the rising adoption of digital solutions, cloud computing, and web/mobile applications among small & medium sized enterprises (SMEs) is anticipated to offer attractive growth opportunities to market players operating in the global synthetic monitoring market. SMEs are in the growth stage of adopting advanced performance monitoring solutions by replacing the traditional application performance management solutions. Moreover, the growing adoption and popularity of cloud-based synthetic monitoring solutions, SMEs are now increasing investing in such solutions for cost benefits and easy integration. Hence, the increasing penetration of digital solutions among SMEs for improving business processes, enhancing operational productivity, and reducing costs are some of the factors that will offer growth opportunities to the market players during the forecast period of 2020 to 2027.
Based on monitoring type, the synthetic monitoring market is segmented into API Monitoring, SaaS Application Monitoring, Mobile Application Monitoring, and Web Application Monitoring. The API monitoring segment held the largest market share in 2019.
|Market Size Value in||US$ 2,182.25 Million in 2020|
|Market Size Value by||US$ 4,718.57 Million by 2027|
|Growth rate||CAGR of 11.6% from 2020-2027|
|No. of Pages||197|
|No. of Tables||110|
|No. of Charts & Figures||94|
|Historical data available||Yes|
|Segments covered||Deployment , Organization Size , Monitoring Type , and Industry|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Players operating in the synthetic monitoring market are mainly focused on the development of advanced and efficient products.
The List of Companies - Synthetic Monitoring Market