The global cloud monitoring market size is expected to reach USD 8.13 Billion by 2030 according to a new study by Polaris Market Research. The report “Cloud Monitoring Market Share, Size, Trends, Industry Analysis Report, By Service Model (SaaS, PaaS, IaaS); By Component; By Organization Size (Small and Medium-sized Enterprises (SMEs), Large enterprises); By Industry; By Region; Segment Forecast, 2022 - 2030” provides a gainful insight into present market dynamics and offers analysis on future market growth.
The holistic power of monitoring the entire IT-based infrastructure forms one of the prominent drivers for this market. Additionally, the application of monitoring services greatly benefits such as persistently maintaining a watch on server uptime and the response time, also helps the organization evaluate customer user experience.
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This factor permits the firm to monitor the customer's precise demands together with observing what the organization can offer to its customers with a database utilizing well-defined customer software. This factor has fuelled the industry. Furthermore, customers do not entirely depend on computing services for their workload.
Thus, tools are being developed by vendors that can monitor both cloud and on-premises environments of the companies. For instance, in 2015, Oracle designed service with sizeable machine learning-based tools and tuned it to monitor and manage infrastructure and applications. It operates virtually in any premises environment. Thus, presenting lucrative prospects for industry growth in the upcoming year.
By component, the market is segmented into solutions and services. The solution segment continues to be the most significant market share during the forecast years. The factors can be attributed to extensive application in manifold end users' functioning. Their substantial utilization in providing a comprehensive view of all premises and application tiers is fast-tracking demand for this segment.
North America holds the largest market share due to the increasingly large number of vendors and speedy adoption of cloud-based monitoring solutions in this region, stretching consciousness and adoption of cost-effective and scalable solutions within progress projects to enhance the industry in the North American area.
Also, large enterprises are propelling system monitoring business in this region. The US industry has notably been attacked. Because of such cases, there is a growing concern over data breaches and other security systems. It is anticipated that market growth will rise exponentially. Search exponential growth is expected to be one of the speedily growing regions in North America. The prominent factor is the extensive scale adoption of cloud-based monitoring solutions that are cost-effective that are being developed in this region.
Prominent industry players include Alibaba Group Holding Limited, Amazon.com Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, and Workday, Inc. For instance, in May 2020, Amazon Web Services acquired enterprise flash storage startup E8 Storage. The acquisition aided Amazon in integrating its cloud computing capabilities with E8’s storage technology to improve the cloud-based service market globally.
Polaris Market Research has segmented the cloud monitoring market report based on service model, component, organization size, industry, and region:
Cloud Monitoring, Service Model Outlook (Revenue - USD Billion, 2018 - 2030)
Cloud Monitoring, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Cloud Monitoring, Organization Size Outlook (Revenue - USD Billion, 2018 - 2030)
Cloud Monitoring, Industry Outlook (Revenue - USD Billion, 2018 - 2030)
Cloud Monitoring, Region Outlook (Revenue - USD Billion, 2018 - 2030)