Cloud Monitoring Market 2023 Size, Demand, Growth Prospects, Key Opportunities, Trends, Forecasts, Key Players and Industry Analysis
December 11, 2019 by Market-NewsFlash
Global Cloud Monitoring Market research report by component (solution, services), service model (SaaS, PaaS, IaaS), organization size (SME, large enterprise), Industry (BFSI, healthcare, government, telecommunications, entertainment) — Forecast till 2023
Cloud Monitoring Market Scope
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.
North America is touted to dominate the cloud monitoring market over the forecast period. Rapid adoption of cloud technology is expected to provide the region with first mover advantage and cater to demands of customers. Embracing cloud business models in SMEs and large enterprises is likely to boost the cloud monitoring market demand exponentially.
The Asia Pacific (APAC) region is anticipated to grow at a robust pace owing to enmasse adoption by large enterprises. Launch of various cloud solutions by reputed brands such as Amazon coupled with the push for digitization by nations in the region is likely to bode well forth cloud monitoring market regionally.
Key market players include Datadog, Inc., Dynatrace LLC, Opsview Ltd., LogicMonitor, Inc., Kaseya Limited, IDERA, Inc., SolarWinds Worldwide, LLC., CA, Inc., Cloudyn, SevOne Inc., Zenoss Inc., and others. Strategies by major vendors include creation of chatbots and analytic services to expand the size of the cloud monitoring market exponentially. In addition, proactive monitoring of systems and integration of other advanced features is likely to bode well for the market.
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