Monitoring Tools Market worth $63.7 billion by 2028, growing at a CAGR of 21.1%: Report by MarketsandMarkets™

Chicago, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The global Monitoring Tools Market is estimated to grow from USD 24.5 billion in 2023 to USD 63.7 billion by 2028, at a CAGR of 21.1% during the forecast period, according to a new report by MarketsandMarkets™. Monitoring tools can be categorized into different types, including observational tools, analysis tools, and engagement tools. Observational tools monitor software for operating effectiveness, while analysis tools further analyze observational data to identify IT issues. Engagement tools act upon data from observational and analysis tools, taking actions such as generating alerts or initiating other software or hardware processes. IT monitoring tools should provide users with features such as performance monitoring, data analysis, alerts, product integrations, real-time analysis, and visualization of IT infrastructure. These tools are essential for proactive monitoring, troubleshooting, and ensuring the reliability and availability of IT systems. From infrastructure monitoring to software testing, monitoring tools are utilized across various domains to ensure optimal performance and minimize downtime.

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400 - Tables
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380 - Pages

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Scope of the Report

By offering, the monitoring tools offering segment has been divided into software and services. Software includes by deployment. Further bifurcation of by deployment, includes cloud and on-premises and services associated with it. The service segment is further bifurcated into professional and managed services. The professional services are further bifurcated into Consulting Services, Deployment & Integration, and Training, Support & Maintenance.

Based on type, the segment has been divided into Infrastructure Monitoring Tools, Application Performance Monitoring (APM) Tools, Security Monitoring Tools, and End-User Experience Monitoring Tools. Monitoring encompasses various types that organizations utilize to gain insights and ensure the smooth functioning of their operations. Network monitoring focuses on tracking network devices, traffic, and performance metrics to optimize network operations. Server monitoring involves monitoring server performance, resource usage, and availability. Application performance monitoring (APM) focuses on tracking application performance, identifying bottlenecks, and enhancing user experiences. Database monitoring is used to monitor database performance, queries, and resource usage. Security monitoring involves tracking network and system data to identify security threats and breaches. Website monitoring focuses on tracking website availability, performance, and user experience. Each type of monitoring provides specific insights crucial for organizations to ensure efficient operations and deliver optimal user experiences.

Based on Infrastructure Monitoring, the segment has been divided into Network Monitoring, Storage Monitoring, Server Monitoring, Cloud Infrastructure Monitoring and Others. Infrastructure monitoring tools are designed to track and manage the health and performance of IT infrastructure components such as servers, networks, databases, and storage systems. These tools provide insights into resource utilization, availability, and potential issues within the infrastructure, helping organizations proactively identify and resolve problems to maintain smooth operations.  

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Based on Application Performance Monitoring (APM), the segment has been divided into Database Monitoring, Web Application Monitoring, Mobile Application Monitoring, Code-Level Monitoring and Others. APM tools are focused on monitoring and optimizing the performance of applications. They track various metrics related to application behavior, response times, resource usage, and transaction flows. APM tools help organizations identify performance bottlenecks, optimize application code, and enhance user experiences by providing insights into application performance from end-to-end.

Based on Security Monitoring, the segment has been divided into Intrusion Detection and Prevention Systems (IDPS), Log Monitoring and Analysis, Vulnerability Assessment and Management and Others. Security monitoring tools are essential for detecting and mitigating security threats and vulnerabilities within an organization's IT infrastructure. These tools monitor network traffic, system logs, and behavior patterns to identify and respond to potential security breaches. They provide real-time alerts, log analysis, and threat intelligence to safeguard systems and sensitive data.

Based on End User Experience Monitoring, the segment has been divided into Synthetic Monitoring, Real User Monitoring (RUM) and Others. End user experience monitoring tools focus on tracking and measuring the quality of user experiences with applications or websites. These tools simulate user interactions and monitor metrics such as page load times, responsiveness, and transaction success rates. By capturing insights into user experiences, organizations can identify, and address issues impacting user satisfaction and optimize their digital services accordingly.

Based on industry vertical, the monitoring tools market is segmented into Banking, Financial Services, and Insurance, Retail & eCommerce, Healthcare & Life Sciences, IT/ITeS, Media & Entertainment, Manufacturing, Automotive, Transportation and Logistics, Telecom, and other verticals (energy & utility, education, and transportation & logistics). IT/ITeS companies are embracing monitoring tools to enhance operational efficiency, maintain service availability, and boost performance. Infrastructure monitoring offers real-time visibility into server, network, and storage health, while Application Performance Monitoring (APM) identifies bottlenecks and optimizes resources. Log monitoring aids in proactive issue detection, and Network Monitoring ensures optimal network infrastructure and security. Cloud monitoring tracks cloud resource utilization and costs. Security monitoring tools combat cyber threats with intrusion detection and log analysis. User Experience Monitoring gauges application usability, and overall, these tools facilitate proactive management, quick issue resolution, and improved user satisfaction in the dynamic IT/ITeS industry.

 The Monitoring tools market is segmented into five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. In North America, monitoring tools technologies are extensively used in applications, such as BFSI, IT/ITeS and Healthcare & Life Sciences. The region's increasingly complex IT infrastructures and emphasis on uptime and performance contribute to this trend. Availability of diverse monitoring tools from various vendors further fuels their adoption. Cloud-based, AI-powered, and open-source monitoring tools are gaining popularity in North America due to their scalability, automation, and cost-effectiveness. The continuous evolution of the IT landscape is expected to drive even higher demand for these tools in the future, helping businesses achieve operational efficiency and stay ahead in the competitive market. In addition, the presence of leading companies, such as Google (US), IBM (US), Microsoft (US), and Cisco (US) in this region is expected to propel the growth of the monitoring tools market in this region. Due to the growing demand for niche technologies, such as AI, Internet of Things (IoT), ML, and big data analytics, the adoption of monitoring tools is a must for developed and developing countries.

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Top Trends in Global Monitoring Tools Market:

• The move to cloud-based services and infrastructure has increased demand for monitoring technologies that can effectively track and manage cloud resources. Cloud monitoring solutions are critical for maintaining the performance, availability, and security of applications and services hosted in a variety of cloud settings.
• As software applications get more complicated, there is a greater emphasis on APM solutions. Organizations can use APM tools to monitor the performance of their applications in real time, allowing them to discover bottlenecks, optimize performance, and improve user experiences.
• As microservices designs and containerization (e.g., Docker, Kubernetes) became more popular, monitoring solutions evolved to provide insights into these distributed and dynamic settings. Individual performance can be tracked using these tools.
• Monitoring technologies are adding AI and machine learning capabilities to provide predictive and proactive monitoring. These technologies can detect patterns, abnormalities, and prospective problems, resulting in better problem resolution and resource allocation.
• As the emphasis on cybersecurity and data privacy has grown, monitoring tools' security and compliance monitoring functions have improved. This involves keeping an eye out for unauthorized access, data breaches, and compliance with regulatory standards.
• To meet the challenges provided by complex and scattered networks, network monitoring solutions have evolved. These tools aid in the diagnosis of network faults, the optimization of traffic flow, and the maintenance of continuous connectivity.
• User-centric monitoring has grown in popularity, with an emphasis on understanding how end-users engage with applications and services. Tracking user journeys, responsiveness, and overall user happiness are all part of this.
• With the expansion of remote and hybrid work arrangements, there is a greater demand for monitoring technologies that can track remote employees' performance and connectivity, ensuring they have access to the essential resources.
• As the Internet of Things (IoT) ecosystem grows, monitoring technologies to oversee the performance, security, and data flow of IoT devices and networks have been developed.
• Capabilities for effective data visualization and analytics have become essential in monitoring tools. These functionalities enable organizations to get insights from collected data and make informed decisions.

Key Industry Development:

• The notion of "observability" grew in popularity, emphasizing the necessity for thorough insights into complex systems. Observability goes beyond typical monitoring by emphasizing understanding how systems act and offering more context via metrics, logs, and traces.
• Popular open source monitoring technologies include Prometheus, Grafana, and Open Telemetry. These technologies provided flexibility, adaptability, and cost savings, resulting in widespread use across a variety of industries.
• Larger technology firms proceeded to purchase specialized monitoring tool suppliers in order to expand their capabilities. This trend intended to develop end-to-end systems that included monitoring, APM, and other relevant features.
• By incorporating Artificial Intelligence for IT Operations (AIOps) into monitoring systems, more intelligent data analysis, faster problem resolution, and predictive capabilities were made possible.
• As the adoption of edge computing and hybrid cloud architectures grew, monitoring technologies began to address the particular issues of these remote systems.
• Monitoring solutions are rapidly being linked with container orchestration technologies such as Kubernetes to allow seamless monitoring of containerized workloads.
• Monitoring systems began to incorporate user experience data to provide a comprehensive view of application performance from the perspective of the end user.
• As the importance of cybersecurity in modern IT settings has grown, security monitoring and compliance functions have been more integrated into monitoring tools.
• Some monitoring technologies have begun to include automation elements for issue detection and resolution, decreasing the need for user intervention.
• The COVID-19 pandemic has heightened the demand for monitoring systems that can support remote workforce management by guaranteeing the availability and performance of remote access and collaboration technologies.

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