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Database Monitoring Software Market 2024 - By Growth Rate, Sales, Production, Consumption Manufacturers, Shares And Outlook By 2033
Database Monitoring Software Market
The database monitoring software market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to resource optimization for cost efficiency, critical application dependency, rising demand for data storage, diverse database environments. Major trends in the forecast period include focus on performance optimization, compliance with regulations, automation for efficiency, enhanced security measures, data growth and complexity.
Market Overview -
Database monitoring software is a tool or application that is designed to monitor database management systems. This software takes a multi-pronged approach to database speed optimization and offers methods to improve database structure. It is used to help organizations track, optimize and diagnose the performance of their database applications.
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Rising Data Generation Fuels Database Monitoring Software Market Growth
An increase in data generation is expected to propel the growth of the database monitoring software market going forward. Data generation refers to the generation of datasets, which are intended to be further processed in a database. Database monitoring software enables the user to quickly handle enormous amounts of data generated, resulting in quicker insights and the capacity to stay one step ahead of the competition. For instance, in October 2021, according to the SeedScientific, a US-based provider of data innovation and analytics services, global data production is predicted to reach 463 exabytes per day by 2025 and at least 1,200 petabytes of data are kept in storage by Google, Facebook, Microsoft, and Amazon. Therefore, an increase in data generation is driving the growth of the database monitoring software market.
Competitive Landscape -
Major companies operating in the database monitoring software market report are SolarWinds Worldwide LLC, Quest Software Inc., VirtualMetric B V, Sematext Group Inc., Heroix Corporation, eG Innovations Pvt. Ltd., Redgate Software Ltd., Nagios Enterprises LLC, Paessler AG, dbWatch AS, Dynatrace Inc., Intergral GmbH, Idera Inc., IT-Conductor Inc., Oracle Corporation, Cisco Systems Inc., Datadog, AppDynamics, New Relic, Riverbed Technology, Inc., Zoho Corporation Pvt. Ltd., Progress Software Corporation, BMC Software Inc., Splunk Inc., International Business Machines Corporation, Microsoft Corporation, AppNeta, LogicMonitor Inc., Micro Focus International plc, PRTG Network Monitor
Innovative Solutions Drive Database Monitoring Software Market
Technological advancement is a key trend gaining popularity in the database monitoring software market. Major companies operating in the database monitoring software market are focused on developing new technological solutions using Artificial intelligence (AI), machine learning, and cloud computing to strengthen their position in the market. For instance, in April 2022, Tata Consultancy Services (TCS), an India-based IT services, consulting, and business solutions organization, launched the TCS ADD suite, an agile and intuitive risk-based monitoring solution for clinical trials, that promotes intelligent decision making, increased compliance and enhanced study efficacy. The new risk-based monitoring tool enables biopharmaceutical companies and related companies to identify site risks through advanced statistical algorithms and drive intelligent data-driven decisions. The data science-driven risk-based monitoring solution accurately predicts outcomes related to site workload and risks and allows stakeholders to develop proactive monitoring strategies.
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Key Segments -
The database monitoring software market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment: Cloud or SaaS, On-Premises
3) By Enterprise Size: Large Enterprises, SMEs
4) By End User: Banks and Financial Institutes, Healthcare, Government, IT and Telecom, Retail, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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