Synthetic
Monitoring Market - Overview
The Synthetic Monitoring Market is garnering substantial
traction worldwide. Market growth attributes to the introduction of analytics
and cloud technology. Besides, the upsurge in need for proactive monitoring
solutions drives the market growth, achieving an organization's customer-centric
goals. Also, improved cloud computing capabilities and the expansion of a
sizeable cloud-based infrastructure across the globe influence market growth.
Moreover, the rising adoption of synthetic
monitoring capabilities in growing numbers of businesses escalates market
growth. According to Market Research Future (MRFR), the synthetic monitoring
market is poised to grow at 17.7% CAGR throughout the estimated period
(2017-2023).
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Additionally, the spurring economic growth and rapid
industrialization across the globe boost the growth of the synthetic monitoring
industry. Rising awareness towards the advantages of synthetic monitoring in
proper scaling strategy for the growing web traffic increases the synthetic
monitoring market size. On the flip side, the high risk associated with data
mitigation is a significant factor projected to impede the growth of the
synthetic monitoring market.
Global Synthetic
Monitoring Market - Segments
The report is segmented into six dynamics;
By Services :
Managed Services, Consulting Services, Implementation Services, Training &
Support Services, and others.
By Monitoring Type :
Web Application Monitoring, Mobile Application Monitoring, API Monitoring,
Software as a Service (SaaS) Application Monitoring, and others.
By Deployment :
On-Premise and On-Cloud.
By Application :
Competitive Benchmarking, Service-Level Agreements Monitoring (SLA Monitoring)
Application Testing, Content Delivery Network Testing (CDN Testing), and
others.
By Vertical :
BFSI, Government, IT & Telecommunication, Healthcare, Retail, Automotive,
and others.
By Regions : Americas, Europe, APAC, and
Rest-of-the-World.
Global Synthetic Monitoring Market -
Regional Analysis
North America leads the global synthetic monitoring
market. The sizable share of the market attributes to the presence of a number
of notable industry players and technological advances. Besides, the rising
demand and early adoption of cloud-based platforms drive the growth of the
market. Moreover, high R & D investments and the demand for technology and
services for web applications, mobile applications, API monitoring, and SaaS
application monitoring fuel the market's growth.
The US is the major country-level market in the
region and is anticipated to remain highly lucrative across the review period.
The North American synthetic monitoring market is projected to retain its
dominance throughout the estimated period.
Europe stands second in the global synthetic
monitoring market. In 2017, the region had reached a market valuation of USD
297.9 MN. Market growth attributes to
the rising purchasing power and the penetration of smart connected devices.
Moreover, established IT sectors and the proliferating information technology
& industries across the region boost the market growth. The U.K. and
Germany are the major growth drivers in the regional market. The European synthetic
monitoring market is expected to reach USD 816 MN by 2023, growing at an
impressive CAGR during the assessment period.
The Asia Pacific region holds a considerable share
in the global synthetic monitoring market. Factors such as the growing
investments by leading players and enhancing cloud-based services in the region
influence the growth of the market. Moreover, the increasing demand for
software-based services in developing countries such as India and China
substantiates regional market growth. Also, the increase in demand for private
cloud environments and domestic sourcing requirements across the region helps
the APAC synthetic monitoring market create a substantial revenue pocket.
Global Synthetic
Monitoring Market - Competitive
Analysis
Highly competitive, the synthetic monitoring market
appears fragmented due to the presence of several matured players. Industry
players adopt strategies such as collaborations, mergers & acquisitions,
and product/technology development to gain a larger competitive share.
Substantial investments are transpired to develop products and expand global
footprints.
Technology providers strive to provide quality
services with 24/7 technical support, using reliable, scalable, and affordable
shared IT plans. They also ensure to provide easy-to-setup and affordable web
IT plans, supported with domain names, free web applications, custom solutions,
and web design services for businesses.
Major Players:
Players leading the global synthetic monitoring
market include New Relic Inc., Hewlett Packard Enterprise Company, Broadcom
Inc., IBM Corporation, AppDynamics, BMC Software, Riverbed technology, Splunk
Inc, Dell Technologies Inc., Intel Corporation, and Microsoft Corporation,
among others.
Industry/Innovations/Related News:
August 11, 2020 ---- Datadog, Inc. (the US), a
leading monitoring & security platform for cloud applications, released a
continuous profiler for low-overhead application code profiling. The new
low-overhead 24x7 code profiler measures the performance of code in production.
With Datadog continuous profiler, customers can better optimize their
applications' performance and improve the quality of their code.
Recently, on July 16, 2020, Datadog launched private
locations for synthetic monitoring. The new capability enables DevOps teams to
monitor internal applications which are not accessible from the public
internet. This further enables them to understand the performance of these
applications from any location that is mission-critical to their business
operations.
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