The rapid digital transformation of enterprises is driving the growth of the unified monitoring market. The global unified monitoring market was valued at USD 11 billion in 2023. Every enterprise nowadays depends upon IT services and different electronic devices to perform its tasks. Thereby, growing dependence on IT-based electrical devices as well as growing system complexity arises the need for unified monitoring solutions.
Unified monitoring technology is an integrated platform where an enterprise can manage all of its operations through a single window. This platform allows visualization of all the operations along with rich data insights, indicating positive or negative trends. Therefore, it greatly helps in the efficient management of complex systems which is leading to its wide popularity. The global unified monitoring market is expected to grow at a Compound Annual Growth Rate (CAGR) of 26 % over the forecast period 2017-2023.
Unified monitoring is being used in IT companies, Telecommunication companies, Medical Institutes, Educational Institutes, etc. to organize and efficiently run their multiple activities. The use of this system helps such enterprises in cutting management costs and thereby enhancing the consumer experience. The global unified monitoring market value is expected to be worth USD 11 billion by the end of the current forecast period in 2023.
Covid-19 pandemic bolstered the need for unified monitoring systems. Many employees during the period began adopting the work from home option which led to a shortage of skilled on-site managers. Therefore, the situation generated the demand for unified monitoring. The lockdown and restrictive measures over the period led to an increase in data traffic which too caused the growth of the global unified monitoring market.
The rising adoption of IoT devices among different enterprises is driving the growth of the global unified monitoring market. The performance of the enterprise is directly dependent on the efficient management of the functioning of every such device. However, the modern IT infrastructures are becoming more complex with advancements in technology which involves the use of different devices for daily tasking. Therefore, there is a need for advanced monitoring of every component of the infrastructure or unified monitoring technology for the smooth functioning of the overall system.
The advantages offered by unified monitoring systems like single user interface control of every element are leading to its popularity. This technology greatly helps in the reduction of administration costs and enhances the consumer experience. Moreover, enhanced security in data flow and reliability in performance are also major demand-generating factors. Furthermore, the rapid technological developments in artificial intelligence, IoT, machine learning, etc. will also fuel the market growth.
The high initial cost of system setup is one of the major factors restraining the growth of the global unified monitoring market. The other hindrance is security which often gets compromised while managing complex infrastructure consisting of different elements.
Unified monitoring is an integrated platform that enables monitoring of the working of a complete IT infrastructure. It is a tool that analyzes the performance of every device which may be a component or a subcomponent of the whole setup and provides valuable insights about their performance. Moreover, it also enables monitoring, diagnosis, and alert reporting of all different elements at a single platform. Unified monitoring finds its use in any large institution requiring multiple electronic devices to perform their daily tasks like telecommunication companies, Healthcare Institutes, Educational Institutes, Industrial units, etc.
Unified monitoring technology greatly helps administrators by providing options to control different devices through a single user interface. It enables managing of the entire IT environment both physical and virtual, on-premises and also cloud type. Therefore, it helps in the smooth functioning of complex network systems to enhance customer satisfaction. Moreover, it ultimately reduces managing costs and also human errors.
The specific objectives of this market report on the unified monitoring market are given below:
Market Segmentation, By component
The solution segment accounts for most of the demand of the unified monitoring Technology. It is also expected to grow at a higher growth rate.
Market Segmentation, By Deployment
The on-premise deployment holds a major market share as it greatly enhances the operational efficiency of an enterprise and helps in reducing its operating costs. However, rapid technological advancements on cloud deployment are garnering more popularity and are growing at a higher CAGR. Cloud platform helps in saving operation costs and has great security features.
Market Segmentation, By Organization Size
Large enterprises lead the market due to the availability of sufficient funds. Whereas high initial cost is a potential hindrance for SMEs.
Market Segmentation, By Vertical
The Banking, Financial Services, and Infrastructure (BFSI) segment will dominate the market over the forecast period. This segment needs continuous management support round the clock which generates higher demand for unified monitoring services. The IT & Telecom sector is also expected to grow at a higher rate owing to increasing internet penetration among masses with a growing literacy rate.
The different regional markets for the global unified monitoring market are:
North America is the largest regional segment of the global unified monitoring market. The greater presence of digital enterprises and greater penetration of the internet drives the market growth here. Huge research and development backup for both software and hardware technology of unified monitoring services is also helping to fuel the market demand. Moreover, the high adoption rate of new technologies due to the high literacy rate is a market positive aspect of this region.
The Asia-Pacific region is expected to grow at a higher growth rate. The rapid expansion of IT infrastructure and the development of software companies are helping to expand the unified monitoring market here. Moreover, this region is emerging as a global manufacturing hub for electronic devices which will also propel the market growth. Furthermore, increasing investments by governments for the promotion of the digital economy will drive market growth.
Europe also holds a significant share of the global unified monitoring market. Automotive and Aerospace, Education and research account for most of the demand. Latin America, Africa, and the Middle East region are expected to grow at a moderate rate over the forecast period.
The major global companies playing a key role in the unified monitoring market are:
This report will be beneficial for every stakeholder of the unified monitoring market such as:
This report from Market Research Future provides an in-depth analysis of the unified monitoring market in terms of current value and future forecast. This report has also highlighted the problems and prospects of the given market. Moreover, the technological analysis section of the report will help in understanding the product and its market prospects. Furthermore, this report contains a detailed analysis of different market segments for the current forecast period. This report has also identified the key players and the current developments in the unified monitoring market.
|Market Size||USD 11 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, By Deployment, By Organization Size|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Dynatrace (US), CA Technologies (US), AppDynamics (US), Zenoss (US), Zoho Corporation (US), Opsview (UK), GroundWork Open Source (US), and Fata Informatica (Italy), Acronis (Europe), and Paessler (Europe).|
|Key Market Opportunities||Increasing adoption of automation and huge opportunities across industries in the APAC countries, there is a better scope for advancement in the market.|
|Key Market Drivers||Increase in the adoption rate of IoT devices among the enterprises is also a factor driving the growth of unified monitoring market.|
The rising adoption of IoT devices among different enterprises is driving the growth of the global unified monitoring market.
North America is the largest regional segment of the global unified monitoring market owing to the greater presence of digital enterprises
The on-premise deployment holds a major market share as it greatly enhances the operational efficiency of an enterprise and helps in reducing its operating costs.
The major global companies playing a key role in the unified monitoring market are : ● Dynatrace (US) ● CA Technologies (US) ● AppDynamics (US) ● Zenoss (US) ● Zoho Corporation (US) ● Opsview (UK) ● GroundWork Open Source (US) ● Fata Informatica (Italy) ● Acronis (Europe) ● Paessler (Europe)