Pune, India, May 17, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global cloud monitoring market size was valued at USD 1.86 billion in 2022 and is projected to grow from USD 2.19 billion in 2023 to USD 9.96 billion by 2030, exhibiting a CAGR of 24.1% during the forecast period. Cloud monitoring is a method of observing, reviewing, and managing the operational workflow in a cloud-based IT infrastructure. Automated or manual management techniques confirm the performance of servers, websites, applications, and other cloud infrastructure. This continuous evaluation of server response times, resource levels, and speed predicts possible vulnerability to future challenges before they arise. This information is provided by Fortune Business Insights, in its report titled, Cloud Monitoring Market Forecast Forecast, 2023-2030.
Key Industry Development:
Broadcom Inc. announced its plans to gain acquisition of AppNeta Inc., a leading SaaS-based network performance monitoring solution headquartered in Boston. This acquisition will complement DX NetOps' existing solutions and strengthen its network performance monitoring services across the internet and hybrid cloud-based applications.
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Key Takeaways
- Surging Demand for Software as a Service in Large Enterprises to Drive Market Augmentation
- Rising Demand for Software as a Service (SaaS) in Large Enterprises to Aid Market Expansion
- By Type Analysis: Increasing Amount of Unstructured Data to Boost the Demand for Cloud Storage Monitoring
- Increased Need for Monitoring Cloud-based Applications During COVID-19 Propelled Market Growth
- Cloud Monitoring Market Size in North America was USD 0.95 Billion in 2022
Discover the Leading Players Featured in the Report:
“Companies leading the Cloud Monitoring Market are Google LLC (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Nutanix (U.S.), Oracle Corporation (U.S.), LogicMonitor, Inc. (U.S.), Microsoft Corporation (U.S.), Zenoss, Inc. (U.S.), Dynatrace LLC (U.S.), Datadog, Inc. (U.S.),
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 24.1% |
| 2030 Value Projection | USD 9.96 Billion |
| Base Year | 2022 |
| Cloud Monitoring Market Size in 2022 | USD 1.86 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Type, Cloud Architecture, Service Model, Enterprise Type, Industry and Geography |
| Cloud Monitoring Market Growth Drivers | Surging Demand for Software as a Service in Large Enterprises to Drive Market Augmentation |
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Drivers and Restraints:
Surging Demand for Software as a Service (SaaS) in Large Enterprises to Drive Market Augmentation
Software-as-a-Service is an on-demand technology used to control and modify system performance. The increasing adoption of software as a service in Customer Relationship Management (CRM), Human Capital Management (HCM), enterprise resource management, and other financial applications, propels the product adoption, especially in large enterprises.
SaaS solutions do not need staff to keep the system running smoothly. Also, there is no need to invest in PCs, backup systems, and network infrastructure. They provide data security and do not require frequent software upgrades. This reduces overall system costs and increases the propensity of enterprise buyers to adopt SaaS, thus facilitating the cloud monitoring market growth.
Segments:
By Type
- Database Monitoring
- Website Monitoring
- Virtual Network Monitoring
- Cloud Storage Monitoring
- Virtual Machine Monitoring
By Cloud Architecture
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Service Model
- SaaS
- PaaS
- IaaS
- Others (FaaS)
By Enterprise Type
- SMEs
- Large Enterprise
By Industry
- BFSI
- Healthcare
- IT & Telecom
- Government
- Manufacturing
- Others (Retail)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Hold Major Share Due to Rising Adoption of Cloud-based Solutions
North America held a significant share in the global market in 2022 stoked by the rising awareness and adoption of scalable and effective cloud-based solutions for ongoing projects. Moreover, the growing number of vendors will further propel market growth in the region.
Asia Pacific market is estimated to record the highest CAGR over the analysis timeframe owing to increased adoption of cloud technology by several end users especially in India and China. Additionally, the Indian government has announced the Digital India Initiative and is making efforts to move toward digitization. This has propelled the demand for cloud monitoring solutions in the country and is contributing toward global market expansion.
The Europe market is projected to expand substantially in the forthcoming years backed by the growing need to comply with government data monitoring regulations. Economies, such as Bahrain, United Arab Emirates (UAE), Oman, Qatar, and others, are strongly moving toward digitization in the cloud, which is attributing toward market augmentation.
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Competitive Landscape:
Product Launches by Leading Companies to Elevate Market Proliferation
Industry leaders often make tactical moves such as partnerships, mergers & acquisitions, and collaborations to strengthen their position in the global market and enlarge profit margins. One such move is the launch of new and advanced products to meet increasing consumer requirements. For example, in October 2022, AllCloud, a cloud services company, unveiled a managed monitoring solution with Datadog, a cloud application security and monitoring platform. This solution integrates real-time metrics and logs for databases, containers, servers, and applications with end-to-end tracing and over 400 integrations for graphing, alerting, and troubleshooting.
FAQ’s
How big is the cloud monitoring market?
Cloud Monitoring Market size was USD 1.86 billion in 2022.
How fast is the cloud monitoring market growing?
The Cloud Monitoring Market will exhibit a CAGR of 24.1% during the forecast period, 2023-2030
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