New York, US, Nov. 16, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Synthetic Monitoring Market: By Services, By Monitoring Type, By Deployment, By Application, By Vertical- Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 1,866 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 9.61% during the assessment timeframe.
Synthetic Monitoring Market Overview:
The synthetic monitoring market is likely to garner significant traction in the next few years. The rise of analytics and cloud technology, alongside the surging demand for proactive monitoring solutions, would support the market growth. Synthetic monitoring, also called active monitoring, refers to simulating user interactions with a system involving active simulating transactions. Synthetic monitoring solutions enable users to assess the potential behavioral pattern of a system while responding to user requests before users interact with it. Technology enablers provide easy-to-setup and affordable web IT plans, supported with domain names, free web applications, custom solutions, and web design services for businesses.
Thus, synthetic monitoring provides an opportunity to validate systems performance and availability requirements before being put into production. With the increasing need for managing organizational databases, the market is projected to witness significant traction in future years. Since the recent pandemic, the usage and adoption of UCaaS tools have increased massively to empower remote teams to work from anywhere.
Most organizations use multiple UCaaS platforms such as Cisco WebEx, Microsoft Teams, Slack, and Zoom to boost business growth amid changing workplace conditions. As more organizations adopt remote working capabilities, network performance remains critical to success. UCaaS deliver superior service and performance. However, IT professionals, application developers, and desktop support teams still struggle to gain network visibility.
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Players Leading the global synthetic monitoring market include-
- New Relic Inc.
- Broadcom Inc.
- Hewlett Packard Enterprise Company
- IBM Corporation
- BMC Software
- AppDynamics
- Riverbed Technology
- Dell Technologies Inc.
- Splunk Inc
- Microsoft Corporation
- Intel Corporation
Synthetic Monitoring Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 1,866 Million |
| Growth Rate | CAGR of 9.61% from 2020 to 2030 |
| Study Period | 2020-2030 |
| Key Market Opportunities | Advanced innovations in software-defined age and application delivery |
| Key Market Drivers | The rise in need for customer experience management |
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Industry Trends
The market growth majorly attributes to improved cloud computing capabilities and the expansion of a sizeable cloud-based infrastructure across the globe. All major industries rely on the internet for day-to-day business operations, positively impacting the synthetic monitoring market size. Moreover, the growing uptake of synthetic monitoring capabilities in rising numbers of businesses accelerates market shares.
Rapid economic growth and industrialization across the globe boost the growth of the synthetic monitoring industry. Conversely, the high risk associated with data mitigation is a significant factor projected to impede the growth of the synthetic monitoring market. Nevertheless, the rising awareness of synthetic monitoring advantages in proper scaling strategy for the growing web traffic would support the market growth.
Synthetic Monitoring Market Segments
The synthetic monitoring market is segmented into services, monitoring types, deployments, applications, verticals, and regions. The service segment is bifurcated into consulting services, managed services, implementation services, training & support services, and others.
The monitoring type segment is sub-segmented into mobile application monitoring, web application monitoring, software as a service (SaaS) application monitoring, API monitoring, and others. The deployment segment is sub-segmented into on-premise and on-cloud. The vertical segment is sub-segmented into BFSI, government, IT & telecommunication, healthcare, retail, automotive, and others.
The application segment is sub-segmented into competitive benchmarking, service-level agreements monitoring (SLA monitoring), application testing, content delivery network testing (CDN testing), and others. The region segment is sub-segmented into the MEA, Americas, Europe, Asia-Pacific, and the rest of the world.
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Synthetic Monitoring Market Regional Analysis
North America accounts for the largest synthetic monitoring market share. The strong presence of notable industry players and technological advances drive market growth. Besides, augmenting demand and early adoption of cloud-based platforms and well-established IT and telecom industries across the region boost the synthetic monitoring market size.
Moreover, vast R & D investments and the demand for technology & services for web applications, mobile applications, API monitoring, and SaaS application monitoring influence the Synthetic Monitoring Market value.
Europe is another rapidly growing market for synthetic monitoring technologies. Rising purchasing power due to the rapid economic growth and the penetration of smart connected devices substantiate the region’s market shares. Moreover, the well-established IT sectors in Germany and the proliferating information technology & industries across the region push Synthetic Monitoring Market revenues.
The synthetic monitoring market is brisk in the Asia Pacific region. Factors such as growing investments by leading players and enhancing cloud-based services in this region define the growing market landscape. Additionally, the increasing demand for software-based services in developing countries such as India and China impacts market growth positively. Also, the increase in demand for private cloud environments and domestic sourcing requirements across the region escalate the Synthetic Monitoring Market value.
Synthetic Monitoring Market Competitive Analysis
This market appears highly competitive and fragmented, with several matured players forming a competitive landscape. These players initiate strategic approaches, such as mergers & acquisitions, collaborations, expansion, and product/technology development. They make substantial investments in developing products and expanding global footprints.
Industry players strive to develop products with user experience monitoring and synthetics features that can improve website experiences. Expanded user experience monitoring and synthetics provide developers with new tools to test, measure, and optimize end-user digital experiences. Technology providers strive to provide quality services with 24/7 technical support using reliable, scalable, and affordable shared IT plans.
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For instance, on Oct. 12, 2022, Exoprise, a leading provider of Digital Experience Monitoring (DEM) solutions, announced the release of that its latest solution, Service Watch, enabling enterprise IT and unified communication teams to analyze the network path for every UC application thoroughly for every user on every network.
Exoprise’s CloudReady solution provides real-time performance visibility from the firewall to the cloud and with synthetic monitoring. As businesses evolve and use multiple UCaaS platforms, this new Exoprise monitoring solution will offer in-depth application and network intelligence to support a modern workforce to provide a great digital experience.
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