ID: MRFR/ICT/4159-CR | January 2019 | Region: Global | 138 pages
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.
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.
High cost for implementation, incorrect alerts, and false positives are the restraining factors of the synthetic monitoring market.
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.
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.
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.
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.
On-Premise and On-Cloud.
By application, the segments are divided into Service-level agreements monitoring (SLA monitoring) application testing, Competitive benchmarking, and content delivery network testing (CDN Testing).
The vertical segments are BFSI, Government, Healthcare, IT & Telecommunication, Automotive, Retail, and others.
Asia-Pacific (APAC), Europe, North America, and the rest of the world are the four main geographies included in this market.
Frequently Asked Questions (FAQ) :
The market is prognosticated to acquire a growth rate of 9.61% during the evaluation period.
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 size in Europe by 2023 end is likely to be more than USD 800 Mn.
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.
The global synthetic monitoring market is highly competitive with the presence of several vendors, offering to various verticals including BFSI, government, IT & Telecommunication, healthcare, retail, automotive, and others. Critical need for proactive monitoring and increasing need for customer experience management are some of the factors that are boosting the growth of synthetic monitoring market. Moreover, development in business analytics is likely to impact the synthetic monitoring market. However, lack of skilled expertise is expected to hinder the growth of the market during the forecast period.
According to MRFR analysis, the growth of the global synthetic monitoring market is dependent on the market conditions and industrial developments. The key vendors in the global synthetic monitoring market are IBM Corporation (US), Hewlett Packard Enterprise Company (US), Broadcom Inc. (US), AppDynamics (US), BMC Software (US), Splunk Inc. (US), New Relic Inc. (US), Riverbed Technology (US), Microsoft Corporation (US), and Dell Technologies Inc. (US).
These companies focus on enhancing the product portfolio with improved technology to deliver advanced products to various industries. Moreover, these companies are prominent providers of synthetic monitoring competing in the market to provide innovative products in order to increase their geographical presence and enhance the customer and industry engagement.
These companies follow an organic as well as inorganic growth approach through product development and enhancement, strategic partnerships and collaborations to develop high-performance solutions that integrate synthetic monitoring with disruptive technologies such as predictive analytics and artificial intelligence to enhance customer experience. The competitive environment in the market is likely to intensify further due to the increasing new product launch, technological innovations, and Merger & Acquisition.
IBM Corporation (IBM) is in the provision of manufacturing computer systems, hardware, software, and providing information technology consulting services. The company operates through the following business segments: cognitive solutions, technology services, business services, global financing services, software services, and system hardware. It follows both organic and inorganic growth strategies to increase its business productivity by building partnerships with tech giants and exploring untapped markets. The company’s growth strategies mainly focus on innovation with constant reinvention and transformations. Additionally, IBM aims to provide specific and customizable solutions as per clients’ needs.
Hewlett Packard Enterprise Company (HPE) provides a comprehensive product portfolio, covering the cloud, data center, and intelligent edge technology, as well as services to its customers around the world. The company operates through three business segments, namely, enterprise group (EG), financial services (FS), and corporate investments. It follows organic growth strategy as the company aims to provide intelligent edge solutions that enhance operations on data centers, offices, and the Internet of Things applications. Additionally, the company focuses on providing high-end technology solutions that empower deeply connected digital workplaces, intelligently monitored operations, and transformative customer experiences for enterprise clients.
CA Technologies Inc. (CA) offers a complete set of solutions to help consumers deliver quality software in a time-efficient manner. The company operates through the mainframe solutions, enterprise solutions, and services segments. It follows organic growth strategy as it is focused on innovating and delivering differentiated products and solutions across both distributed and mainframe platforms.
AppDynamics is a subsidiary of Cisco Systems Inc. AppDynamics offers an integrated suite of software applications and IT infrastructure monitoring and analytics products. The company focuses on expanding its geographic presence to make its products available in various regions. It has planned to strengthen its global presence by maintaining and expanding its capacity.
BMC Software Inc. (BMC Software) offers a wide range of IT solutions. The company operates through the cloud management, service management, IT automation, workload automation, IT operations, and mainframe solutions segments. It follows both organic and inorganic growth strategies through partnership with tech giants and launch of new innovative products.