The global cloud monitoring market size was valued at around USD 1638.74 Million in 2022 and is anticipated to reach USD 2010.08 Million by 2031, expanding at a CAGR of around 22.66 % during the forecast period, 2023-2031. The growth of the market is attributed to the growing adoption of cloud technology across various industries such as BFSI, retail & consumer goods, telecommunications and IT, and others.
Cloud monitoring refers to a method of observing, reviewing, and managing operational workflow within a cloud-based infrastructure. Cloud monitoring uses manual or automated monitoring tools to verify if cloud is working. It provides cloud administrator complete understanding of the condition and performance of the cloud. Cloud monitoring is capable of monitoring data distributed to various locations, providing visibility into applications, files, and users, scanning files in real-time, reviewing security standards, and eliminating potential breaches.
Cloud monitoring services are used for website monitoring, database monitoring, virtual network monitoring, virtual machine monitoring, and cloud storage monitoring. Private, public, and hybrid are different cloud monitoring environments. A private cloud environment offers extensive visibility and control over data. Hybrid and public cloud environments offer limited security and can create problems for data access.
Several industries such as BFSI, healthcare, retail, and others are adopting cloud technology across the globe. Incorporating cloud monitoring enables these industries in managing changing applications and infrastructures, monitoring solutions, and get a holistic view of customer flow, log data, cloud metrics, and others.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for monitoring huge date set is expected to drive the market during the forecast period.
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Rising demand for cloud monitoring for financial applications boosts the market.
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High cost associated with cloud monitoring applications is estimated to hamper the growth of the market during the forecast period.
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Growing adoption of Software-as-a-Service (SaaS) such as human capital management, enterprise resource management, customer relationship management, and others is projected to drive the market during the forecast period.
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Increasing demand for scalable, flexible, and convenient cloud monitoring solutions for large enterprises fuel the market.
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Development of technologies and innovative monitoring solutions are estimated to boost the growth of the market during the projected period.
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Rising usage of hybrid cloud spurs the market.
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Lack of technological expertise required for functioning cloud monitoring services hinder the growth of the market.
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Growing adoption of unified monitoring, lack of data security, and limited cloud visibility are anticipated to restrain the market in the coming years.
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Increasing demand for Internet of Things (IoT) and rising complexities in monitoring of databases are expected to provide growth opportunities to the key market players in the projected period.
Scope of Cloud Monitoring Market Report
The report on the global cloud monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Cloud Monitoring Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Components (Solutions and Services), Service Models (Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), and Platform-as-a-Service (PaaS)), Organization Sizes (Small & Medium Size Enterprises (SME) and Large Enterprises), and End-users (Banking, Financial Services, & Insurance (BFSI), Telecommunications & IT, Healthcare & Life Sciences, Government & Defense, Retail & Consumer Goods, Entertainment & Media, Manufacturing, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Oracle Corporation; Microsoft Corporation; International Business Machines Corporations; Amazon Web Services, Inc.; Google, LLC; CA Technologies (Broadcom Company); Idera, Inc.; LogicMonitor, Inc.; Zenoss, Inc.; Cloudyn; Dynatrace, Inc.; SolarWinds Worldwide, LLC; Datadog, Inc.; Kaseya Limited; SevOne, Inc.; and Others
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Market Segment Insights
Solutions segment drives the market
Based on components, the market is bifurcated into solutions and services. The solutions segment is expected to boost the market during the forecast period, due to its wide application in diverse end-users functioning. Cloud monitoring solutions provide a holistic view of on-premise and cloud applications, which aid in the expansion of the segment.
SaaS segment boosts the market
In terms of service models, the market is divided into Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), and Platform-as-a-Service (PaaS). The Software-as-a-Service (SaaS) segment is projected to register a high CAGR during the forecast period, owing to growing adoption of SaaS applications such as human capital management, customer relationship management, enterprise resource management, and others in large enterprises.
SaaS-based applications facilitate consumers to install and maintain applications over internet instead of maintaining complex software and hardware systems. This aids in expansion of the SaaS segment in the coming years. The IaaS segment is anticipated to expand during the forecast period, as these service applications are elastic and scalable in real time and measured by use.
Large enterprises segment expands rapidly
On the basis of organization sizes the market is bifurcated into small & medium size enterprises (SME) and large enterprises. The Large enterprise segment holds a large market share during the forecast period, owing to high demand for enhanced cloud monitoring systems in large enterprises. Cloud monitoring facilitates large enterprises to break down operational and data storehouses across the enterprises to make them productive, cost-efficient, and safe. This aids in the expansion of the segment in the coming years.
BFSI segment holds a key market share
In terms of end-users, the market is segregated into Banking, Financial Services, & Insurance (BFSI), Telecommunications & IT, Healthcare & Life Sciences, Government & Defense, Retail & Consumer Goods, Entertainment & Media, Manufacturing, and Others. The BFSI segment is estimated to expand at a rapid pace during the forecast period, due to increasing modernization and digitization of financial services industry.
Cloud monitoring facilitates short deployment cycles, fast and efficient response to the banking customers, and cost recovering for data breaches, which fuels the expansion of the BFSI segment.
Asia Pacific dominates the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to register a high CAGR during the forecast period, due to increasing adoption of cloud monitoring technology by end-users in the region. For example, The Digital India initiative by the government of India aids in the expansion of cloud monitoring technology in India.
In June 2016, Amazon Web Services (AWS), Inc. was launched in Asia Pacific, which drove customers such as Tata Motors, Shopper’s Stop, Future Group, and others to adopt AWS Cloud for broad range of applications.
Segments
The global cloud monitoring market has been segmented on the basis of
Components
Service Models
- Infrastructure-as-a-Service (IaaS)
- Software-as-a-Service (SaaS)
- Platform-as-a-Service (PaaS)
Organization Sizes
- Small & Medium Size Enterprises
- Large Enterprises
End-users
- Banking, Financial Services, & Insurance (BFSI)
- Telecommunications & IT
- Healthcare & Life Sciences
- Government & Defense
- Retail & Consumer Goods
- Entertainment & Media
- Manufacturing
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Oracle Corporation
- Microsoft Corporation
- International Business Machines Corporations
- Amazon Web Services, Inc.
- Google, LLC
- CA Technologies (Broadcom Company)
- Idera, Inc.
- LogicMonitor, Inc.
- Zenoss, Inc.
- Cloudyn
- Dynatrace, Inc.
- SolarWinds Worldwide, LLC
- Datadog, Inc.
- Kaseya Limited
- SevOne, Inc.
- Others
Competitive Landscape
The global cloud monitoring market is consolidated with the presence of key players such as Oracle Corporation; Microsoft Corporation; International Business Machines Corporations; Amazon Web Services, Inc.; Google, LLC; CA Technologies (Broadcom Company); Idera, Inc.; LogicMonitor, Inc.; Zenoss, Inc.; Cloudyn; Dynatrace, Inc.; SolarWinds Worldwide, LLC; Datadog, Inc.; Kaseya Limited; SevOne, Inc.; and others, who use business strategies such as acquisitions, collaborations, mergers, partnerships, and product launches to dominate the market. For example, in June 2019, Microsoft Corporation and Oracle Corporation partnered to enable customers to migrate and run enterprise workload across both Microsoft Azure and Oracle Cloud for highly optimized cloud experience. In May 2022, Google LLC partnered with observIQ, an open-source telemetry innovator, to improve telemetry for managing all critical business applications and environments.
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