Westford, USA, Sept. 04, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Cloud Monitoring Market will reach a value of USD 10.22 Billion by 2031, with a CAGR of 19.80% during the forecast period (2024-2031). Cloud monitoring market is transforming significantly to meet the growing needs of scalability, security, and performance as businesses are highly dependent on cloud-based services for bettering their operations. Essentially, the need for predictive monitoring solutions and AI-based analytics is surging as companies aim to ensure the performance and reliability of cloud-based services and applications. This trend supports the industry’s promise to offer modernized cloud monitoring solutions that fulfill the growing needs of new cloud infrastructures. Hence, the rising demand for proactive monitoring services is substantially impacting the market growth.
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Browse in-depth TOC on the "Cloud Monitoring Market"
- Pages – 197
- Tables – 65
- Figures – 75
Cloud Monitoring Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 2.41 Billion |
| Estimated Value by 2031 | USD 10.22 Billion |
| Growth Rate | Poised to grow at a CAGR of 19.80% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Service Model, Organization Size, Industry, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Mounting Adoption of Multi and Hybrid-Cloud Environments |
| Key Market Drivers | Rising Complexity of Cloud Environments |
Superior Monitoring Features to Lead Infrastructure Monitoring Segment
By type, the infrastructure monitoring segment is projected to lead the cloud monitoring market owing to superior monitoring features offered. It comprises managing and monitoring underlying cloud infrastructure comprising network, storage, and server components. This form of monitoring assures the availability, security, and performance of cloud infrastructure to prevent downtime and aid smooth operations. However, the application monitoring segment is projected to grow at a faster rate in the coming years since it emphasizes on monitoring availability and performance of cloud services and applications. Moreover, the rising need to meticulously address the challenges will impact the growth of the segment in the coming years.
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Emphasis on Optimal Working of Overall Systems to Drive IT and Infrastructure Monitoring Segment Growth
By industry, the IT and infrastructure monitoring segment holds dominant share of the market due to focus on optimal functioning and detection of issues or barriers that might hinder the overall system performance. It comprises management and monitoring of performance, health, and availability of IT infrastructure parts in cloud environment. This is propelling the growth of the segment in the coming years. Nonetheless, the security monitoring segment is the growing at a considerable rate due to the rising cases of data breaches and cyberattacks. Businesses are emphasizing on improving their cloud security. It comprises detecting and monitoring of any doubtful activities, illegal access attempts, vulnerabilities in could infrastructure, helping businesses ensure complete data protection. This is driving the segment growth.
North America to Dominate Market Owing to Expanding Cloud Adoption and Advanced Infrastructure
Geographically, North America holds dominant share of the cloud monitoring market and is projected to lead over the forecast period owing to the region being a major center for technology advancement with high presence of leading service providers, data centers, and enterprises. The region benefits from improved infrastructure, higher cloud adoption in different industries, and robust regulatory architecture. The region holds key players like Microsoft Azure, Amazon Web Services (AWS), and Google Cloud Platform, impacting the regional growth.
Asia-Pacific is projected to be the fastest-growing region due to the rising adoption of cloud services, speedy digital transformation, and mounting demand for effective cloud monitoring and management. Moreover, the growing investments in IT infra, expanding penetration of the internet, and growth of SMEs contribute to regional market growth.
Cloud Monitoring Market Insight
Drivers:
- Growing Demand for Real-Time Insights
- Rise of Advanced Technologies
- Rising Need for Effective Monitoring Solutions
Restraints:
- High Maintenance and Implementation Costs
- Integration Complexity
- Growing Security Concerns
Prominent Players in Cloud Monitoring Market
The following are the Top Cloud Monitoring Companies
- Dynatrace LLC
- Datadog Inc.
- New Relic Inc.
- AppDynamics
- SolarWinds Worldwide LLC
- Broadcom Inc.
- Amazon Web Services Inc.
- IBM Corporation
- Microsoft Corporation
- Google LLC
Key Questions Answered in Global Cloud Monitoring Market Report
- What is the growth of the Cloud Monitoring Market, as per SkyQuest Technology?
- Which segment is responsible for the larger share of the Cloud Monitoring Market?
- Which factors are driving the Cloud Monitoring Market?
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This report provides the following insights:
- Analysis of key drivers (growing user experience expectations, better integration with other tools, performance optimization), restraints (lack of skills, vast data quantities, lack of standardization), opportunities (integration with ML and AI, improved security solutions, rise of edge computing), and challenges (scalability issues, data privacy concerns, regulatory compliances) influencing the growth of cloud monitoring market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the cloud monitoring market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the cloud monitoring market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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