What is the Historic and Current Scenario of the Cloud Monitoring Market?
The cloud monitoring market has seen considerable growth due to a variety of factors.
• In recent times, there has been a swift expansion in the size of the cloud monitoring market. The projection sees it increasing from a valuation of $2.63 billion in 2024 to $3.05 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.8%.
The significant growth previously experienced is due to several factors. These include initiatives for digital transformation, the need for cost efficiency and security, scalability needs, and the trend towards remote work.
What Is The Projected Growth Of The Cloud Monitoring Market?
The cloud monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a significant expansion in the cloud monitoring market over the coming years, with predictions reaching a notable $6.43 billion by 2029. This represents a compound annual growth rate (CAGR) of an impressive 20.5%.
Factors contributing to this growth in the projected period include a rise in multi-cloud deployments, compliance demands, the integration of edge computing, and the inclusion of AI and machine learning, as well as hybrid IT environments. Key trends to watch during the forecast period are an increased focus on monitoring cloud security, full visibility across cloud services, automation in incident response, tools for managing and optimizing costs, along with compliance monitoring and reporting.
What Main Forces Are Fueling Expansion In The Cloud Monitoring Market?
The surge in cloud usage by industries is a major driving force behind the expansion of the cloud monitoring market. Businesses utilize cloud technology to reduce costs and risks while enhancing the scalability of web-based database functions. Cloud monitoring, which provides real-time scans and continuous surveillance, aids in preventing potential system breaches. This service is necessary for various organizations that leverage cloud technology, thus fueling the demand for cloud monitoring. As an example, Zippia Inc., an American career specialist, reported in December 2022 that currently, 94% of businesses employ cloud services. Additionally, 92% of companies either have a multi-cloud strategy in place or are in the process of developing one. In 2022, the value of cloud services hit $206.1 billion. Consequently, the upsurge in cloud usage among businesses propels the growth of the cloud monitoring market.
What Are The Principal Market Segments In The Global Cloud Monitoring Healthcare Industry?
The cloud monitoring market covered in this report is segmented –
1) By Component: Solution, Services
2) By Model: Infrastructure As A Service(IaaS), Software As A Service(SaaS), Platform As A Service(PaaS)
3) By Organization Size: Small And Medium Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services and Insurance, Healthcare And Life Sciences, Telecommunications And IT, Government And Defense, Manufacturing, Retail And Consumer Goods, Media And Entertainment, Other Industries
Subsegments:
1) By Solution: Performance Monitoring Solutions, Security Monitoring Solutions, Log Management Solutions
2) By Services: Managed Monitoring Services, Consulting Services, Support And Maintenance Services
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Which Emerging Market Trends Are Altering The Cloud Monitoring Market?
Forming strategic alliances is a crucial trend that is gaining momentum in the cloud monitoring market. Prominent corporations within this sector are actively seeking partnerships to fortify their foothold in the market. For example, in May 2022, The International Business Machines Corporation, an American technology enterprise, formed a partnership with Amazon Web Services, which is also a US-based cloud computing platform. This partnership aims to enable IBM to deliver a broad spectrum of its software catalogue through Software-as-a-Service (SaaS) using Amazon Web Services.
Who Are the Key Players in the Cloud Monitoring Market?
Major companies operating in the cloud monitoring market include:
• Amazon.com Inc.
• Alphabet Inc.
• Microsoft Corporation
• New Relic Inc.
• IBM Corporation
• Oracle Corporation
• Broadcom Inc.
• Splunk Inc.
• BMC Software Inc.
• Datadog Inc.
• Kaseya Limited
• Dynatrace Inc.
• SolarWinds Worldwide LLC
• PagerDuty Inc.
• Sumo Logic Inc.
• Grafana Labs Inc.
• Elastic N.V.
• LogicMonitor Inc.
• AppDynamics Inc.
• IDERA Inc.
• xMatters Inc.
• InfluxDB Inc.
• SevOne Inc.
• VictorOps Inc.
• Site24x7 Inc.
• Zenoss Inc.
• Opsgenie Inc.
• Stackify Inc.
• Sematext Group Inc.
What are the Regional Insights into the Cloud Monitoring Market?
North America was the largest region in the cloud monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global cloud monitoring market report during the forecast period. The regions covered in the cloud monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
