End User Experience Monitoring Market Research Report Information, By Component (Solutions and Services), Access Type (Web and Mobile), Organization Size, Deployment Mode, Industry Vertical (BFSI, Government, Healthcare) — Global Forecast till 2027
In its research report, Market Research Future (MRFR), emphasizes that the global end-user experience monitoring market 2020 is expected to grow exponentially over the review period, securing a substantial market valuation from USD 1.3 billion in 2020 to USD 3.7 Billion by 2027, and a healthy 22.1% CAGR over the review period.
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Drivers and Restraints
The growing number of agents to have better end-user experience, the need to quantify the business effect of EUEM and shifting end-user preferences are major growth drivers for the monitoring market for end-user experience. End user interface management technologies and services are widely implemented in virtually every vertical sector, such as government, banking, financial services, and insurance (BFSI), retail and consumer goods, healthcare, and IT and telecom. BFSI, retail and consumer products, and IT and telecom are some of the major verticals in the industry that implement end-user experience management solutions to deliver services according to their customers' evolving needs. Companies' global need to consider their customers' diverse needs, recognise and troubleshoot poorly performing consumer applications, and minimize operational costs by reducing the number of call centers are key factors for business growth.
SMEs face problems such as resource shortages, skills shortages and scalability. Nonetheless, lack of knowledge, budget constraints and the involvement of many small-sized enterprises in the developing economies are the major challenges in the market monitoring of end-user experience during the forecast period. To overcome these challenges, SMEs have started deploying cloud-based EUEM products, as they assist in cost-saving and can be scaled significantly as businesses grow.
The global end user experience monitoring market is segmented based on component, access type, organization size, deployment mode, industry vertical, and region/country.
By component, the market is bifurcated into solutions and services. The solutions covered in the study are synthetic monitoring and real user monitoring. The services segment is further divided into professional and managed services.
By access type, the market is segmented into web and mobile.
By deployment mode, the market is divided into cloud and on-premises. Globally, large enterprises and Small and Medium-sized Enterprises (SMEs) are moving toward cloud-based EUEM products to restructure their processes easily and minimize upfront costs.
By organization size, the market is segmented intolarge enterprises and SMEs.
By industry vertical, the market is segmented into BFSI, government, retail and consumer goods, heatlhcare, IT and telecom, and others.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
North America is believed to have the highest market share in the surveillance industry for global end-user experience. The region's leading countries are the US, Canada and Mexico. The growth is due to the involvement of major end-user experience management software providers and advanced IT infrastructure for seamlessly running business applications and providing services to clients. Over the projected era, Asia-Pacific is expected to be the fastest growing area in the global market for tracking end-user experiences. That digitalization and adoption of cloud services to enhance customer experience that mobile and web are the main driving factors for the region's adoption of end user experience monitoring solutions. Companies in the area are increasingly focused on recognizing their consumer attitudes and desires, so they can effectively strategize their product and service offerings.
The major market players operating in the global market as identified by MRFR are IBM Corporation (US), Oracle Corporation (US), BMC Software, SAP SE (Germany), Inc. (US), Micro Focus International plc (UK), Riverbed Technology (US), AppDynamics (US), CA Technologies (US),Catchpoint Systems, Inc. (US), and Dynatrace LLC (US).
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