The global cloud monitoring market is likely to grow at an impressive 12% CAGR over the forecast period (2017-2023). Cloud monitoring is a process to evaluate, monitor and manage cloud-based services, infrastructure and applications. It has several moving parts and thus it is vital to make sure everything works seamlessly for optimizing performance. Cloud monitoring comprises of functions such as cloud storage monitoring, virtual network monitoring, database monitoring, virtual machine monitoring and website monitoring. It provides business solutions in the likes of three models- Platform as a Service (PaaS), Infrastructure as Service (IaaS) and Software as a Service (SaaS). The key benefits of using cloud monitoring includes easy and fast setup, easy maintenance, scalability and agility, cost-effective deployments, multi-tenancy, reliability, remote management, location and device independence.
There are abundant factors that is propelling the growth of the cloud monitoring market. These factors as per the Market Research Future (MRFR) report include compliance requirements, its adoption across industry verticals, increasing number of data breaches and security threats, constant advancement in technology in monitoring technologies and different benefits of cloud computing namely flexibility, scalability, performance and cost effectiveness.
The global cloud monitoring market is expected to surge at 12% CAGR from 2017 to 2023 owing to emergence of various cloud data centers. The integration of cloud computing in business processes by major corporations and enterprises to scale extensively is likely to bolster the market demand till 2023. Cloud monitoring offers tools to manage and monitor workflow and processes within a cloud infrastructure. It offers business solutions in the form of three models, namely Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS).
Adoption of cloud across industry verticals such as retail, IT, and BFSI is expected to work in favor of the cloud monitoring market. The shift towards digitization amid growing demands from customers can spur the market demand. Advantages of cost effectiveness, flexibility, and high performance are likely to drive the adoption rate of cloud monitoring.
Segmentation Analysis
By component, the market is segmented into solution and services. Both component in cloud monitoring can generate significant revenue for the market.
By service model, the market is segmented into IaaS, SaaS, and PaaS. The SaaS segment is likely to expand at a rapid pace owing to adoption of solutions such as enterprise resource management, human capital management, and customer relationship management in large organizations. In addition, highest levels of data security offered by the solution combined with preference of buyers towards SaaS solutions can augur well for the cloud monitoring market. The PaaS segment is expected to thrive in the cloud monitoring market owing to adoption of Kubernetes for scaling and management of containerized solutions. Recently, LogicMonitor introduced two solutions, Kubernetes container monitoring and LMService Insight for managing dynamic environments.
By organization, the market is segmented into large and small & medium enterprises (SME). Among these, the large enterprise segment is predicted to garner significant revenues for the market.
End-users of cloud monitoring include media & entertainment, manufacturing, defense, government, telecommunications, healthcare, and BFSI. The BFSI segment is likely to contribute massively to the cloud monitoring market by 2023. This can be credited to the acceptance of cloud technology by financial institutions to provide rapid response to customers and expedite product development cycles. Changing regulatory policies amid launch of new technologies, fintech companies require smart approaches to reduce operational costs. This move can be monumental for the cloud monitoring market.
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Cloud Monitoring Market SizeThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Monitoring Market Size.
The growth sectors of the Cloud Monitoring Market Size are identified with precision for a better growth perspective.Achieving an optimized cloud-based platform in the IT infrastructure of an organization is the main function of the cloud monitoring process.
Activities like reviewing, monitoring, and managing operational workflow & processes of data in the cloud-based IT infrastructure of an organization are objectives of the cloud monitoring process.
Moreover, server uptime report and response rate report prepared by the cloud monitoring process help in evaluating the performance of cloud services on a modular level.
These are the major driving factors for the global cloud monitoring market growth.Cloud is a set of web-hosted applications that allow access to data over the Internet instead of computer’s hard drive.
Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) are effective business solutions.
Cloud Monitoring market size was 810 million US$ and it is expected to reach 2880 million US$ by the end of 2025, with a CAGR of 17.1% during 2019-2025.Cloud monitoring is the process of evaluating, monitoring, and managing cloud-based services, applications, and infrastructure.
Companies utilize various application monitoring tools to monitor cloud-based applications.Large enterprises have witnessed huge growth with the adoption of cloud monitoring services, with the help of these solutions companies can join with its employees and develop more interesting business dealings.
On the other hand, Software as a Service (SaaS) is gaining importance as these tools have the capability to correct and detect performance regressions or problems.
Support and maintenance services help in boosting and providing solutions to products thus the demand for support and maintenance services is increasing rapidly.
North America is dominating the cloud monitoring market and the factors favouring the growth of this region are growing need for cloud services in large enterprises and SMEs.
Asia Pacific has acquired largest market share owing to technological developments and substantial implementation of economical cloud-based arrangements in the Asian countries This report focuses on the global Cloud Monitoring status, future forecast, growth opportunity, key market and key players.
Market Synopsis:As per the analysis by Market Research Future Reports (MRFR), the global Cloud Monitoring Market is estimated to expand at a CAGR of 12% during the review period.
Major companies have integrated cloud computing in their operations, which aids the market extensively to expand during the review period.Moreover, increasing data breaches have also resulted in the fast adoption of cloud-based techniques.
The companies are spending enormously on research and development to offer a seamless experience to their consumers.
Compliance requirements are the most crucial factor which influences the cloud monitoring market since these solutions would offer efficient controls that help in meeting such compliances.
On the other hand, the issues related to limited cloud visibility can act as an obstruction in the expansion of the market.
They may prevent the end-users from adopting these solutions.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/5161 Competitive Outlook:The most important players in the global cloud monitoring market are SolarWinds Worldwide, CA, Inc. (U.S.), LLC.
