Press release
Cloud Monitoring Market Forecast to Grow at 19.80% CAGR from 2024 to 2031 | SkyQuest Technology
Skyquest Technology
Cloud Monitoring Market [https://www.skyquestt.com/report/cloud-monitoring-market] size was valued at USD 2.01 billion in 2022 and is poised to grow from USD 2.41 billion in 2023 to USD 10.22 billion by 2031, growing at a CAGR of 19.80% in the forecast period (2024-2031)
In recent times, the cloud monitoring market is witnessing substantial growth owing to an increase in the adoption of cloud computing. The necessity for efficient monitoring and management of cloud-based infrastructure is also increasing its demand. The market is also boosted by factors like increasing complexity of cloud environments, necessity for real-time visibility into cloud performance, and the growing demand for proactive monitoring. These factors ensure efficient performance and service availability of the cloud monitoring systems. Cloud monitoring solutions provide features like automated monitoring, scalability, and data security. These solutions successful and efficiently caters to the ever-changing requirements of the businesses across various sectors. Furthermore, the market is also fueled by the implementation of hybrid and multi-cloud architectures. These structures need robust monitoring solutions for smooth management. In recent times, most of the prominent market players are investing in advanced monitoring technologies and strategic collaboration for improving their market position. This is also helping them to offer better cloud monitoring solutions to customers, propelling the growth of the market.
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Top Player's Company Profiles
* Dynatrace LLC (United States)
* Datadog, Inc. (United States)
* New Relic, Inc. (United States)
* AppDynamics (United States)
* SolarWinds Worldwide, LLC (United States)
* Broadcom Inc. (United States)
* Amazon Web Services, Inc. (United States)
* IBM Corporation (United States)
* Microsoft Corporation (United States)
* Google LLC (United States)
* Splunk Inc. (United States)
* Zabbix LLC (Latvia)
* LogicMonitor, Inc. (United States)
* BMC Software, Inc. (United States)
* Cisco Systems, Inc. (United States)
* PagerDuty, Inc. (United States)
* AppNeta (United States)
* Cloudflare, Inc. (United States)
* Site24x7 (United States)
* Nagios Enterprises, LLC (United States)
Increasing Adoption of Cloud Monitoring System to Enable Real-Time Tracking of System Operation
One of the primary drivers that is boosting the growth of the cloud monitoring market is the rising adoption of cloud computing and the constant digital transformation throughout industries. As businesses are shifting their applications and infrastructure to the cloud, the demand for monitoring and managing the performance, availability, and security of cloud-based resources are increasing. Cloud monitoring solutions assists businesses to improve their cloud deployments and ensure efficient operations with the help of real-time monitoring, analytics, and visibility of the cloud settings. The scalability, flexibility, and cost-efficiency provided by cloud monitoring solutions are increasing their adoption as business are trying to use the advantages of cloud computing and accomplish digital transformation.
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Segments covered
Type
Infrastructure Monitoring, Application Monitoring, Network Monitoring, Service Monitoring, Cloud Storage Monitoring, Database Monitoring, Website Monitoring, Virtual Network Monitoring, Virtual Machine Monitoring
Service Model
Software as a Service (Application Performance Monitoring, Web Performance Management), Platform as a Service (Serverless Architecture/Function as a Service Monitoring, Container/Microservices Monitoring), Infrastructure as a Service (Server Monitoring, Internet of Things Monitoring)
Organization Size
Small and Medium-sized Enterprises, Large Enterprises
Industry
IT and Infrastructure Monitoring, Security Monitoring, Log Monitoring, Performance Monitoring, Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Telecommunications, Government and Defence, Manufacturing, Retail and Consumer Goods, Media and Entertainment, Others
Rising Adoption of Advanced Technologies to Detect and Respond to Security Breaches Rapidly
The adoption of advanced technologies like artificial intelligence and machine learning is increasing in the cloud monitoring market. For analyzing huge amount of data and generating actionable insights in real-time cloud monitoring solutions are using AI and ML algorithms. These innovative technologies allow smart automation, detect threats, predictive analytics, and proactive monitoring, improving the efficiency and effectiveness of cloud infrastructure management. AI and ML has the potential to rapidly identify and respond to security breaches, performance problems, and system failures. The integration of AI and ML in cloud monitoring is boosted by the necessity for proactive and smart monitoring solutions. This ensures optimal performance, availability, and security of cloud-based services and applications. This enables companies to improve resource utilization, enhance user experience, and alleviate risks, contributing to the development of the cloud monitoring market.
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* KPMG and Cisco went into a strategic collaboration in March 2024. This will speed up the digital transformation of Indian companies.
* Anodotwent into a strategic collaboration with FinOps and TBM platform YaRKENin July 2024. The objective is to integrate technology for both farms and help clients to manage cloud expenses on-premises and in private from a single interface.
* CyberProofcollaborated with Google Cloud in May 2024. This will help the company to use Google Chronicle security operations and other Google cloud security solutions.
* Cisco Systems has introduced their new OpenTelemetry-based combination of Cisco and AppDynamics applition. This solution will allow partners and end customers to understand whether the networks or application caused a performance issue.
Rising Popularity for Cloud Monitoring for Financial Applications to Increase Market Growth
Software-as-a-services is an on-demand application that is utilized for controlling and rectifying performance of a system. Rising adoption of SaaS offerings like customer relationship management, human capital management, enterprise resource management, and other financial applications creates the ideal settings for adoption of cloud monitoring. Furthermore, it does not need employees for smoothly running the system compared to traditional banking applications. Banking institutes also do not have to invest much in PCs, network infrastructure, and backup systems. The solution offers data security and does not need regular software upgrade. Therefore, it has the potential to minimize the expense of SaaS system, boosting the growth of the market for cloud computing.
Related Reports:
Artificial Intelligence Market [https://www.skyquestt.com/report/artificial-intelligence-market]
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Company Name: Skyquest Technology
Contact Person: Mr. Jagraj Singh
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Country: United States
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