Unified Monitoring Market by Component (Solutions and Services), Deployment Type (On-Premises and Cloud), Organization Size, Vertical (BFSI, Healthcare & Life Sciences, Telecommunications & ITES, Manufacturing), and Region - Global Forecast to 2023
“Regulatory compliance requirements, adoption of Internet of Things (IoT), and need for uninterrupted business continuity are expected to be driving the unified monitoring market”
The unified monitoring market size is expected to grow from USD 3.32 billion in 2018 to USD 11.10 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 27.3% during the forecast period. Increasing complexities in applications, applications running on the dynamic IT environment, reduced time to resolve issues, and increasing need to efficiently manage the security and performance of the IT infrastructure are major growth factors for the market. However, organizations’ reluctance in adopting modern technologies could affect the growth unified monitoring market.
“Service component is expected to grow at a higher rate during the forecast period”
Unified monitoring services help consult, integrate, and support organizations across various industries in effectively dealing with threats, thereby ensuring visibility and security across all business functions. On the basis of services, the unified monitoring market has been segmented into training and consulting, integration and deployment, and support and maintenance. With the increasing penetration of big data, IoT, edge computing, cloud, and related technologies, the demand for unified monitoring services among enterprises is gaining huge traction.
“Cloud deployment type is expected to grow at a higher rate during the forecast period”
The cloud deployment of unified monitoring solutions offers various benefits, such as enhanced security, improved scalability, better flexibility, and lower costs. The cloud deployment type provides the option of scalability, whereas enterprises that are more concerned about security tend to opt for the private cloud deployment type. The cloud offers high-end performance and greater security. Moreover, it is highly scalable, flexible, and cost-efficient as compared to the on-premises deployment type.
“North America is expected to hold the largest market size, Asia Pacific (APAC) to grow the fastest”
North America is expected to hold the largest market size during the forecast period, as organizations are shifting toward new and upgraded technologies with the increasing adoption of digital business strategies. Furthermore, organizations have invested in advanced technologies to gain a competitive advantage and improve business operations. APAC is expected to be the fastest-growing region in the global unified monitoring market. The key reasons for the high growth rate in APAC include the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of unified monitoring to drive customer experience and improve the operational issues.
The break-up profiles of primary participants are given below:
By company: Tier 1 - 43%, Tier 2 - 35%, and Tier 3 - 22%
By designation: C-level - 60%, Director level - 25%, and Others - 15%
By region: North America - 44%, Europe - 25%, APAC - 21%, and RoW - 10%
The following key players in the unified monitoring market are profiled in the report:
1. Dynatrace (US)
2. CA Technologies (US)
3. AppDynamics (US)
4. Zenoss (US)
5. Zoho Corporation (US)
6. Opsview (UK)
7. GroundWork Open Source (US)
8. Fata Informatica (Italy)
9. Acronis (Europe)
10. Paessler (Europe)
The unified monitoring market has been segmented on the basis of components, deployment types, organization sizes, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overviews, services, key strategies, new service launches, partnerships, agreements and collaborations, business expansions, and competitive landscape associated with the unified monitoring market.
The report will help the market leaders/new entrants in this market in the following ways:
This report segments the unified monitoring market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across major regions.
This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report helps stakeholders in better understanding the competitors and gaining more insights to better their position in the business. The competitive landscape section includes the vendor comparison of the major players in the unified monitoring market.