The Synthetic Monitoring Market is witnessing rapid revenue growth. Factors such as the introduction of analytics and cloud technology and the surging demand for proactive monitoring solutions are major driving forces. With the increasing need for managing organizational databases, the market is projected to witness significant traction in the future.
In this regard, market research future (mrfr) asserts that the global synthetic monitoring market is poised to grow at a substantial cagr during the estimated period (2020-2027). The market growth also attributes to improved cloud computing capabilities and the expansion of a sizeable cloud-based infrastructure across the globe.
All major industries rely on the internet for day-to-day business operations; this, in turn, positively impacts the synthetic monitoring market size. Moreover, the growing uptake of synthetic monitoring capabilities in rising numbers of businesses accelerates the market shares.
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Rapid economic growth and industrialization across the globe boost the growth of the synthetic monitoring industry. Conversely, the high risk associated with data mitigation is a significant factor projected to impede the growth of the synthetic monitoring market. Nevertheless, the rising awareness for synthetic monitoring advantages in proper scaling strategy for the growing web traffic would support the market growth.
Global synthetic monitoring market -segments
Synthetic monitoring market forecast is segmented into services, monitoring types, deployments, applications, verticals, and regions. The service segment is bifurcated as consulting services, managed services, implementation services, training support services, and others.
The monitoring type segment is sub-segmented into mobile application monitoring, web application monitoring, software as a service (saas) application monitoring, api monitoring, and others. The deployment segment is sub-segmented into on-premise and on-cloud.
The application segment is sub-segmented into competitive benchmarking, service-level agreements monitoring (sla monitoring), application testing, content delivery network testing (cdn testing), and others. The vertical segment is sub-segmented into bfsi, government, it telecommunication, healthcare, retail, automotive, and others.
Global synthetic monitoring market - regional analysis
North america accounts for the largest synthetic monitoring market share. The strong presence of notable industry players and technological advances drive the market growth. Besides, augmenting demand and early adoption of cloud-based platforms and well-established it and telecom industries across the region boost the synthetic monitoring market size.
Moreover, vast r d investments and the demand for technology services for web applications, mobile applications, api monitoring, and saas application monitoring influence the market value.
Global synthetic monitoring market - competitive analysis
This market appears highly competitive and fragmented, with several matured players forming a competitive landscape. These players initiate strategic approaches, such as mergers acquisitions, collaborations, expansion, and product/technology development.
They make substantial investments in developing products and expand global footprints.
Major players:
Players leading the global synthetic monitoring market include new relic inc., broadcom inc., hewlett packard enterprise company, ibm corporation, bmc software, appdynamics, riverbed technology, dell technologies inc., splunk inc, microsoft corporation, and intel corporation, among others.
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Industry/innovations/related news:
Nov. 11, 2020 --- elastic, a search company, launched elastic observability features, including user experience monitoring and synthetics, to improve website experiences. Expanded user experience monitoring and synthetics would give developers new tools to test, measure, and optimize end-user digital experiences. In addition, elastic users can now leverage a dev preview release of synthetic monitoring with multistep journey tests in elastic uptime.
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About Market Research Future (MRFR):
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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