Cloud monitoring market is gaining traction across the globe due to the increase in IT industries that are switching to cloud services. It finds application in areas like, BFSI, retail and consumer goods, media and entertainment, and manufacturing. The rising number of security threats and data breaches are propelling the adoption of such solutions. It provides enhanced security capabilities and insights that help to proficiently detect and prevent vulnerabilities. This is further amplifying the demand for these solutions among the end-users.
On the basis of component, the cloud monitoring market is categorized into solutions and services. Services are further classified into integration and deployment, support and maintenance, and training and consulting. Of them, the demand for support and maintenance is growing due to the increase in deployment of these solutions.
In terms of geography, Asia Pacific is expected to register the fastest growth in the cloud monitoring market, during the forecast period due to the increasing awareness and adoption of cloud-based services in the region. North America is expected to generate the largest revenue during the forecast period due to the growing adoption of cloud-based services in small and medium enterprises (SMEs) and large enterprises.
Increased adoption of cloud-based technology in various industries including BFSI, healthcare, and IT which boosts the growth of cloud monitoring market. The constant technological advancement in the monitoring technology are some of the major drivers for the market. Limited visibility, high technological expertise and high costs are some of the factors restraining the market growth.
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The growing demand for Internet of things (IoT) technology and growing complexities in monitoring databases is expected to provide opportunities for cloud monitoring market during the forecast period. Clouds shifting to HTML5 clients have increased system complexities with increased processing and computing on the client side. Older applications were working on the server side so it was easy to monitor them. With more adoption of HTML5 newer tools need to be designed. Emergence of such new tools will offer growth opportunities to the market.
The demand for flexible, scalable, and convenient solutions for large enterprises compels service providers to come up with new technologies and offer innovative solutions. Hence, the cloud monitoring market for large enterprises are expected to register faster growth in cloud monitoring market during the forecast period. The use of hybrid cloud is increasing, therefore more organizations are moving towards cloud monitoring as a service to monitor performance across the multiple suppliers that will now be interdependent and critical, to an organization’s IT service delivery.
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Some of the key players operating in the cloud monitoring market include CA Technologies, SolarWinds Worldwide, LLC., Dynatrace LLC., IDERA, Inc., SevOne Inc., Cloudyn, Zenoss Inc., Datadog, Inc., Kaseya Limited, LogicMonitor, Inc., and Opsview Ltd.
