|Hewlett Packard Enterprise Company|
|New Relic Inc.|
|Dell Technologies Inc|
|Market Driving Forces|
|The rise in need for customer experience management and proactive monitoring is required for various complex applications several microservices that offer better application development|
The report offered by Market Research Future (MRFR) reveals that the global synthetic monitoring market has been prognosticated to expand at 9.61% CAGR during the forecast period 2020 to 2030. Its valuation is estimated to reach USD 1,866 Million Mn by the end of 2030.
Other names for synthetic monitoring are active monitoring or proactive monitoring. This is a website monitoring process that is processed with the help of web browser emulation or web browser scripted recordings or web transactions. The paths are created to simulate an action that the end-user would select behind the given sites. To enhance the performances like availability, functionality, and time required to respond, these paths are monitored daily.
Moreover, the demand for synthetic monitoring is increased for its benefits like providing better IT operations and enables webmasters to check for queries and malfunctioning. This system helps to check the web application for any downtimes before the problem has arisen to the consumer. In the use of APM tools, this monitoring is used for deeper visibility in the end-to-end performance and also for testing new applications. Furthermore, it provides visibility on application health for peak hours even when transaction volume is low. Hence, the synthetic monitoring system is used to ensure performance by testing mobile, web, non-web, streaming, and other cloud-based applications before production.
The lockdown and people staying in their homes have resulted to adopt remote working by both large enterprises and SMEs. Due to this reason, to ensure data protection and to maintain a superior end-user experience the demand for secure and high-performance applications is growing for the past few months. Hence, it leads to an increase in demand for the synthetic monitoring market.
Market Dynamics:Drivers:The rise in need for customer experience management and proactive monitoring is required for various complex applications, several microservices that offer better application development, the importance of DevOps, and SLA parameters evaluation are the driving factors of the market. The introduction of analytics and cloud computing technology is expected to drive market growth during the forecast period.
Furthermore, the growing demand for rich user experience on third-party components like web analytics, social networking, and search engine optimization, etc is increasing the demand for the synthetic monitoring market.
Restraint:High cost for implementation, incorrect alerts, and false positives are the restraining factors of the synthetic monitoring market.
Opportunities:Advanced innovations in software-defined age and application delivery, predictive analysis, data-driven decision making, and customer experience management are the synthetic monitoring market opportunities that are predicted to increase the market growth in the review period.
Based on Services:The synthetic monitoring market industry based on services is classified into managed services, consulting services, implementation services, training, and support services.
Based on Monitoring Type:Based on monitoring type, the synthetic monitoring market is divided into various types such as web application monitoring, mobile application monitoring, API monitoring, software as a service (SaaS) application monitoring.
Based on Deployment:The global synthetic monitoring market based on deployment is bifurcated into two types as On-Premise and On-Cloud.
Based on Application:The global synthetic monitoring market based on application is divided into various applications such as Competitive benchmarking, Service-level agreements monitoring (SLA monitoring) application testing, and content delivery network testing (CDN Testing).
Based on Vertical:The global synthetic monitoring market based on vertical is classified into few types as BFSI, Government, Healthcare, IT & Telecommunication, Automotive, Retail, and others.
Based on Region:The global synthetic monitoring market based on regions is classified into Asia-Pacific (APAC), Europe, North America, and the rest of the world are the four main geographies included in this market. Among them, North America accounts for the largest market share for the growing need for synthetic monitoring systems in this region.
Regional Analysis:Regionally, the global synthetic monitoring market is segmented into North America, Asia-Pacific, Europe, and the rest of the world. Among these regions, North America leads the synthetic monitoring market share for the growing need for synthetic monitoring systems. The Cisco Global Cloud Index Report states that North America is expected to lead 48% of all large-scale public cloud data centers across the world which are called hyperscale data centers in future years.
Moreover, rise in the acceptance of technological innovations that includes cloud computing & DevOps, BYOD (Bring Your Own Device), software as a service (SaaS) based applications. The latest elements like real-time analysis, log management, and advanced analytics are further boosting the market. Furthermore, the Asia-Pacific region is expected to hold a significant market share during the forecast period.Competitive Landscape:The prominent key players in the synthetic monitoring market trends are the following:
Among them, one of the most popular enterprises IBM Corporationis highly demandable for manufacturing computer systems, hardware, software, and providing information technology consulting services. To increase business productivity, it follows both organic and inorganic growth strategies, partnered with tech giants, and explores untapped markets.
By Services:Consulting services, training, managed services, implementation services, and support services.
By Monitoring Type:Mobile application monitoring, Web application monitoring, software as a service (Saas) application monitoring, and API monitoring.
By Deployment:On-Premise and On-Cloud.
By Application:By application, the segments are divided into Service-level agreements monitoring (SLA monitoring) application testing, Competitive benchmarking, and content delivery network testing (CDN Testing).
By Vertical:The vertical segments are BFSI, Government, Healthcare, IT & Telecommunication, Automotive, Retail, and others.
By Region:Asia-Pacific (APAC), Europe, North America, and the rest of the world are the four main geographies included in this market.
|Market Size||USD 1,866 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Services, Type|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||Hewlett Packard Enterprise Company New Relic Inc. Broadcom Inc. AppDynamics IBM Corporation BMC Software Splunk Inc Riverbed Technology Dell Technologies Inc Microsoft Corporation Intel Corporation|
|Key Market Opportunities||synthetic monitoring market opportunities that are predicted to increase the market growth in the review period.|
|Key Market Drivers||The rise in need for customer experience management and proactive monitoring is required for various complex applications,|
The synthetic monitoring market is estimated to reach USD 1,866 Million Mn by the end of 2030.
The market is set to perform remarkably in the coming years with its size estimated to expand at a significant pace.
Splunk Inc, Broadcom Inc., AppDynamics, BMC Software, Dell technologies Inc., New Relic Inc., IBM Corporation, Riverbed technology, Hewlett Packard Enterprise Company, Intel Corporation, Microsoft Corporation, and others are some of the top competitors in the global market for synthetic monitoring.
The market is prognosticated to acquire a growth rate of 9.61% during the evaluation period.
The BFSI segment is poised to take over the leading position in the market.
The North American market can advance at a rate of 15.7% between 2018 and 2023.
The top monitoring types are Software as a Service (SaaS) application monitoring, mobile application monitoring, API monitoring, web application monitoring, and others.
North America accounts for the largest market share for the growing need for synthetic monitoring systems in this region.