Press release
Cloud Monitoring Market Size Forecasted To Achieve $6.43 Billion By 2029 With Steady Growth
Cloud Monitoring
What Is the Expected Cloud Monitoring Market Size During the Forecast Period?
In recent times, the size of the cloud monitoring market has seen a swift expansion. It is projected to escalate from a value of $2.63 billion in 2024 to a staggering $3.05 billion in 2025, representing a compound annual growth rate (CAGR) of 15.8%. Factors such as digital transformation drives, cost effectiveness, security issues, scalability needs and the emerging remote work patterns have contributed to the growth observed in the historical phase.
In the coming years, the size of the cloud monitoring market is projected to undergo massive expansion. This market is set to reach a valuation of $6.43 billion by 2029, displaying a compound annual growth rate (CAGR) of 20.5%. The factors contributing to this growth during the predicted period include the use of multi-cloud deployments, adherence to compliance norms, integration of edge computing, implementation of Artificial Intelligence (AI) and machine learning, as well as hybrid IT environments. Some key trends that are expected to emerge during the forecast period are an enhanced focus on monitoring cloud security, achieving comprehensive visibility over cloud services, automated responses to incidents, tools for effective cost management and optimization, as well as efficient compliance monitoring and reporting.
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What Are the High-Growth Segments in the Cloud Monitoring Market?
The cloud monitoring market covered in this report is segmented -
1) By Component: Solution, Services
2) By Model: Infrastructure As A Service(IaaS), Software As A Service(SaaS), Platform As A Service(PaaS)
3) By Organization Size: Small And Medium Sized Enterprises (SMEs), Large Enterprises
4) By Industry: Banking, Financial Services and Insurance, Healthcare And Life Sciences, Telecommunications And IT, Government And Defense, Manufacturing, Retail And Consumer Goods, Media And Entertainment, Other Industries
Subsegments:
1) By Solution: Performance Monitoring Solutions, Security Monitoring Solutions, Log Management Solutions
2) By Services: Managed Monitoring Services, Consulting Services, Support And Maintenance Services
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What Key Drivers Are Expected to Influence Future Cloud Monitoring Market Growth?
The surge in cloud utilization by companies is significantly driving the expansion of the cloud monitoring market. Companies are turning to cloud adoption as a strategy to reduce costs and risks while enhancing the scalability of Internet-based database functionalities. Cloud monitoring serves to thwart potential breaches by offering real-time scanning with ongoing supervision. This renders cloud monitoring a necessity for a multitude of organizations utilizing cloud technologies, thus amplifying its demand. For instance, as per the data shared by Zippia Inc., a career expertise firm from the US, currently, 94% of businesses are harnessing cloud services. Additionally, a multi-cloud strategy is operational or under development in 92% of enterprises, and the value of cloud services in 2022 has hit the $206.1 billion mark. Consequently, the escalating cloud adoption amongst companies is fuelling the cloud monitoring market.
Which Companies Hold the Largest Share Across Different Cloud Monitoring Market Segments?
Major companies operating in the cloud monitoring market include Amazon.com Inc., Alphabet Inc., Microsoft Corporation, New Relic Inc., IBM Corporation, Oracle Corporation, Broadcom Inc., Splunk Inc., BMC Software Inc., Datadog Inc., Kaseya Limited, Dynatrace Inc., SolarWinds Worldwide LLC, PagerDuty Inc., Sumo Logic Inc., Grafana Labs Inc., Elastic N.V., LogicMonitor Inc., AppDynamics Inc., IDERA Inc., xMatters Inc., InfluxDB Inc., SevOne Inc., VictorOps Inc., Site24x7 Inc., Zenoss Inc., Opsgenie Inc., Stackify Inc., Sematext Group Inc.
What Are the Latest Developing Trends in the Cloud Monitoring Market?
The cloud monitoring market is seeing a significant upward trend in strategic alliances. Prominent players in this market are forming partnerships to consolidate their market position. For example, The International Business Machines Corporation, a leading technology corporation from the US, entered into a collaboration with Amazon Web Services, a prominent US-based cloud computing platform in May 2022. Through this partnership, IBM plans to offer a broad spectrum of its software catalog as Software-as-a-Service (SaaS) through Amazon Web Services.
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What Are the Emerging Geographies for The Cloud Monitoring Market Growth?
North America was the largest region in the cloud monitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global cloud monitoring market report during the forecast period. The regions covered in the cloud monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cloud Monitoring Market?
2. What is the CAGR expected in the Cloud Monitoring Market?
3. What Are the Key Innovations Transforming the Cloud Monitoring Industry?
4. Which Region Is Leading the Cloud Monitoring Market?
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