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Synthetic Monitoring Market to Outstrip $4,718.57 Million by 2027: The Insight Partners

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Synthetic Monitoring Market to Outstrip $4,718.57 Million by 2027: The Insight Partners

December 07
19:37 2021
Synthetic Monitoring Market to Outstrip $4,718.57 Million by 2027: The Insight Partners
The Insight Partners
Synthetic Monitoring Market is emerging with Rising Adoption of Digital Solutions and Applications among Enterprises by 2027

According to our latest market study on “Synthetic Monitoring Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), Monitoring Type (API Monitoring, SaaS Application Monitoring, Mobile Application Monitoring, and Web Application Monitoring), and Industry (BFSI, Government, Retail, Healthcare, IT and Telecom, and Other Industries),” the market was valued at US$ 1,982.58 million in 2019 and is projected to reach US$ 4,718.57 million by 2027; it is expected to grow at a CAGR of 11.6% from 2020 to 2027.

Synthetic or direct monitoring solutions are used to monitor various types of enterprise applications and their performance by simulating user actions through emulation and scripted transactions methods at regular intervals. Synthetic or direct monitoring solutions provide critical information to end users regarding enterprise applications and their performance in terms of functionality, availability, and response times. The growing adoption of digital solutions across enterprises accelerates the demand for flawless application performance system to ensure smooth user experience and prevent financial or operational loss. Any hindrance in the performance of such applications harms customer loyalty, company’s brand image, and profits. Hence, the rising importance of flawless performance of various applications in digital workplaces, and increasing need for enhanced productivity and cost reduction accelerates the demand for synthetic monitoring solutions among enterprises. Demand for synthetic monitoring is anticipated to surge rapidly in coming years owing to the growing trend of digitalization, smart workplaces, and automation. Apica; AppDynamics; Broadcom; Dynatrace LLC; eG Innovations; IBM Corporation; Micro Focus; New Relic, Inc.; SolarWinds Worldwide, LLC; and Uptrends LLC are among the key players operating in the synthetic monitoring market, and these have been profiled during this market study.

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High Growth Potential in Small and Medium-Sized Enterprises

Synthetic monitoring tools are being used among enterprises for monitoring of enterprise applications and it provides information regarding uptime and overall performance of critical business transactions by simulating various customer activities. These tools allow companies to bridge the performance gaps that may affect the overall end user experience. Presently, the synthetic monitoring market is dominated by large enterprises in terms of revenue share owing to the large-scale operations of these enterprises coupled with high adoption of such solutions in developed regions such as North America and Europe. In addition to this, large enterprises are also the ones that are driving the trend of digital transformation to improve overall operational efficiency and enhance end user experience. However, the rising adoption of digital solutions, cloud computing, and web/mobile applications among small & medium sized enterprises (SMEs) is anticipated to offer attractive growth opportunities to market players operating in the global synthetic monitoring market. SMEs are in the growth stage of adopting advanced performance monitoring solutions by replacing the traditional application performance management solutions. Moreover, the growing adoption and popularity of cloud-based synthetic monitoring solutions, SMEs are now increasing investing in such solutions for cost benefits and easy integration. Hence, the increasing penetration of digital solutions among SMEs for improving business processes, enhancing operational productivity, and reducing costs are some of the factors that will offer growth opportunities to the market players during the forecast period of 2020 to 2027.

Impact of COVID–19 Pandemic on APAC Synthetic Monitoring Market

APAC is also home to around 60% of world population that includes the two most populous countries of the world, China and India. The huge population presents many growth opportunities for companies operating in different sectors. Also, the rising penetration of consumer electronics among end users and increased demand of online media content and digital services due to ongoing COVID 19 outbreak and movement restrictions in major countries are some of the factors that are driving the demand of synthetic monitoring solutions among enterprises. These solutions allow companies to offer uninterrupted and smooth experience to their end users by identifying any issues that may impact the application performance.

Cloud deployment is also an attractive option for companies due to benefits such as need-basis payment, regular data backup, high security, fast updates, comparatively low capital & operations costs, and instant provisioning features provided by these solutions. Moreover, the complex and high installation & maintenance costs associated with on-premise solutions is further driving companies to adopt cloud-based solutions. Hence, scalability, high level of security, operational flexibility, easy deployment, and affordability are some of key advantages that are expected to boost the adoption of cloud-based synthetic monitoring solutions among enterprises in the coming years. With more and more companies offering cloud-based synthetic monitoring and APM solutions such as AppDynamics, Dynatrace LLC, Micro Focus, New Relic, Inc., and SolarWinds Worldwide, LLC among many others, the demand for cloud-based solutions over on-premise is projected to grow at a fast pace over the forecast period of 2020 to 2027.

Strategic Insights:

Players operating in the synthetic monitoring market are mainly focused on the development of advanced and efficient products.

  • In 2020, AppDynamics’ application performance management, cloud monitoring, and microservices support solutions are in the demand in ongoing COVID-19 pandemic situation due to increase digital services offered by various companies which are essential in keeping workforces productive at home, allowing people to shop for groceries online, helping patients connect to telehealth professionals to report symptoms, access testing, and many others.
  • In 2020, New Relic, Inc. announced that the results from all synthetic monitor types are now available in the new relic one. Adding results from synthetic monitors into new relic one helps users more easily to troubleshoot incidents.

 

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About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Sameer Joshi

E-mail: [email protected] 

Phone: +1-646-491-9876

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