The synthetic monitoring market size is projected to reach US$ 8.47 billion by 2031 from US$ 3.03 billion in 2023. The market is expected to register a CAGR of 13.7% in 2023–2031. The growing cloud adoption and rise in digitalization are likely to remain key to synthetic monitoring market trends.
Synthetic Monitoring Market Analysis
Government support to boost the SMEs' capabilities to their business by providing financial aid, incentives, and initiatives can contribute to the adoption of software solutions such as synthetic monitoring solutions. The growing cloud market is one of the major factors driving the synthetic monitoring market as the cloud is a cost-effective solution that leads to the adoption of cloud-based Synthetic monitoring solutions by several large enterprises and SMEs, which further drives the synthetic monitoring market.
Synthetic Monitoring Market Overview
Synthetic monitoring refers to the use of software to simulate user interactions with a system. The data collected from the simulated transactions is then analyzed to determine how the system operates. For example, synthetic monitoring could be used to determine whether a website achieves the desired page load, response time, and uptime.
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Synthetic Monitoring Market: Strategic Insights
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 Forecast Period 2020-2027 Base Year 2020
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Synthetic Monitoring Market: Strategic Insights
| 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 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Synthetic Monitoring Market Drivers and Opportunities
Benefits of Synthetic Monitoring to Favor Market
Synthetic monitoring solutions allow the end-user to predict how a system will respond to user requests before actual users interact with it. Synthetic monitoring allows the end-user to validate whether systems meet performance and availability requirements before going into production. In this respect, synthetic monitoring allows for proactive monitoring. Furthermore, synthetic monitoring is useful for evaluating a system's response to unusual or infrequent requests that may not be captured in data collected from transactions initiated by real users. Thus, synthetic monitoring helps to validate system performance and identify potential issues before they affect the end-user experience. Synthetic monitoring enables monitoring proactively and addresses performance and availability issues before they disrupt production applications, which helps the end-users enhance their customer experience.
Growing SMEs market
Enterprises use synthetic monitoring tools to monitor enterprise applications, and they provide information about uptime and overall performance of critical business transactions by simulating several customer activities. These tools enable businesses to close performance gaps that may impact the overall end-user experience. Thus, the growing digitalization and government support for SMEs foster SMEs' capability to adopt software solutions to enhance the efficiency of their workflow. Furthermore, as the trend of digital transformation to improve overall operational efficiency and end-user experience, more SMEs will adopt synthetic monitoring solutions in the future.
Synthetic Monitoring Market Report Segmentation Analysis
Key segments that contributed to the derivation of the synthetic monitoring market analysis are ink deployment, organization size, monitoring type, and industry.
- By deployment, the market is segmented into on-premise and cloud. The cloud segment is expected to grow with the highest CAGR.
- Based on the organization size, the market is segmented into SMEs and large enterprises. The SMEs segment is expected to grow with the highest CAGR.
- By monitoring type, the 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 2023.
- Based on the industry, the market is segmented into BFSI, government, retail, healthcare, it & telecom, and other industries. The retail segment is expected to grow with the highest CAGR.
Synthetic Monitoring Market Share Analysis by Geography
The geographic scope of the synthetic monitoring market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific region is expected to grow with the highest CAGR. The proliferation of cloud technology in the region leads to the region’s market growth. The growing SMEs in the region fuel the demand for software solutions in the region, driving the use of synthetic monitoring technology. Digital transformation in emerging economies such as India and China leads to the adoption of synthetic monitoring solutions in various end-user industries.
Synthetic Monitoring Market Report Scope
Synthetic Monitoring Market News and Recent Developments
The Synthetic Monitoring Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
- In July 2023, Google introduced synthetic monitoring, a new proactive monitoring capability that uses automated Node.js scripts to simulate user interactions with an application or service. This allows you to test the availability, consistency, and performance of your web applications, APIs, and key business workflows from the perspective of a real user on a periodic basis. In November 2023, Google announced the general availability of synthetic monitoring. Additionally, with this launch, the company also included new capabilities for synthetic monitoring. (Source: Google, Press Release, 2023)
- In March 2022, Synthetic API Monitoring extended AppDynamics Synthetic Monitoring, empowering ITOps and DevOps to help minimize the impact of API performance and availability issues on business outcomes and user experience. (Source: AppDynamics, Press Release, 2022)
Synthetic Monitoring Market Report Coverage and Deliverables
The “Synthetic Monitoring Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment , Organization Size , Monitoring Type , and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global synthetic monitoring market was estimated to be US$ 3.03 billion in 2023 and is expected to grow at a CAGR of 13.7% during the forecast period 2023 - 2031.
The growing cloud adoption and rise in digitalization are the major factors that propel the global synthetic monitoring market.
Adoption of AI is anticipated to play a significant role in the global synthetic monitoring market in the coming years.
The key players holding majority shares in the global synthetic monitoring market are Apica, AppDynamics LLC, Broadcom Inc., IBM Corporation, and Micro Focus.
The global synthetic monitoring market is expected to reach US$ 8.47 billion by 2031.
The incremental growth expected to be recorded for the global synthetic monitoring market during the forecast period is US$ 5.43 billion.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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