Synthetic Monitoring Market - Growth, Trends, and Forecast (2020 - 2025)
NEW YORK, March 24, 2020 /PRNewswire/ -- The Synthetic Monitoring Market was valued at USD 1.36 billion in 2019 and is expected to reach USD 3.72 billion by 2025, at a CAGR of 15.2% over the forecast period 2020 - 2025.
Read the full report: https://www.reportlinker.com/p05877817/?utm_source=PRN
- Active monitoring is essential in the complex infrastructure that many IT teams are managing, where multiple networks, providers, and applications can all consume IT time and resources. Synthetic monitoring, therefore, helps troubleshoot in these cases, as it shows IT teams what users are seeing, in a continuous way.
- Slower page response time leads to an increase in page abandonment, with around 40% of users stating that they would abandon a page, if it did not load within three seconds. For online retail giants, like Amazon, a similar delay would be catastrophic, resulting in estimated lost sales of USD 1.6 billion per year.
- Google recently calculated that by slowing down the search results by just four tenths of a second, it could lose eight million searches in a day, which would translate into a substantial reduction in revenues from online advertisements, due to lower reach.
Key Market Trends
IT and Telecommunications is Expected to Show Significant Growth
- Effective monitoring is the key factor governing the on-premise, cloud, or hybrid infrastructure. Relying on traditional IT monitoring tools which are not built for complex infrastructure landscape is increasingly becoming difficult for IT managers and are actively shifting towards synthetic monitoring solutions.
- Active monitoring has significant importance in the complex infrastructure that many IT teams are managing, where multiple networks, providers, and applications can all consume IT time and resources. Synthetic monitoring, therefore, helps troubleshoot in these cases, as it shows IT teams what users see, in a continuous way.
- Modernizing the services for the IT and telecom sector is an evolved approach through API management, for bridging the gap between traditional, on-premise, and cloud-based IT systems. It increases operational efficiency and effectiveness, thus consolidating the way data is captured, analyzed, and shared across the enterprises, along with providing an improved experience.
North America Accounted for a Significant Share
- The market in North America is increasing, due to the critical need for pro-active monitoring of increasing complex applications and rising adoption of cloud-based application and DevOps application.
- In North America, consumers are increasingly preferring online platform for varied services, even in the conventional markets, because of which, companies are focusing on improving their application management services.
- In addition to this, owing to rise in DevOps, the region also marks a significant demand for SaaS-based applications. According to the Cisco Global Cloud Index Report, North America is expected to account for 48% of all large-scale public cloud data centers called hyperscale data centers across the world by 2021.
- IBM recently launched the first financial services-ready public cloud of the world in collaboration with Bank of America. Under the agreement Bank of America will be a committed collaborator to use the platform and host key applications on IBM's public cloud, to support its 66 million banking customers.
Competitive Landscape
The synthetic monitoring market is highly fragmented and the major players have used various strategies, such as new product launches, agreements, expansions, joint ventures, partnerships, acquisitions, and other strategies, to increase their footprints in this market. Most businesses across the whole spectrum combine at least two or three different tools to monitor and run their IT infrastructure. The tools are usually available in three distribution models, such as SaaS, open-source software, and closed source solutions. Key players are CA Technologies, Dynatrace LLC, SmartBear Software, etc.
- In August 2019 - SmartBear announced the acquisition of Bitbar, which is the provider of the world's significantly advanced mobile application test automation platform and device cloud. This transaction will help SmartBear use technologically advanced testing solutions with the existing product portfolio. This acquisition also allows SmartBear to fully embrace automation to deliver higher quality software faster.
- In February 2020 - Dynatrace announced a partnership with the US Department of Veterans Affairs (VA) for providing the Dynatrace Software Intelligence Platform to significantly enhance enterprise cloud visibility and support for the VA's cloud migration efforts.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05877817/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article