Overview and Scope
Cloud monitoring refers to reviewing, inspecting and managing the operational workflow of a cloud-based IT infrastructure is done through cloud monitoring. The performance and availability of websites, servers, applications and other cloud infrastructure are confirmed by manual or automated management procedures.
Sizing and Forecast
The cloud monitoring market size has grown rapidly in recent years. It will grow from $2.3 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to digital transformation initiatives, cost efficiency, security concerns, scalability requirements, remote work trends.
The cloud monitoring market size is expected to see rapid growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to multi-cloud deployments, compliance requirements, edge computing integration, AI and machine learning integration, hybrid IT environments. Major trends in the forecast period include focus on cloud security monitoring, end-to-end visibility across cloud services, automation of incident response, cost management and optimization tools, compliance monitoring and reporting.
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Segmentation & Regional Insights
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
North America was the largest region in the cloud monitoring market in 2023. 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.
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Major Driver Impacting Market Growth
Growth in cloud adoption across enterprises is significantly contributing to the growth of the cloud monitoring market going forward. Enterprises employ cloud adoption as a method to save costs and risk while increasing the scalability of Internet-based database capabilities. Cloud monitoring eliminates potential breaches ensuring real-time scans with continuous monitoring, as a result, cloud monitoring is required by various organizations that use cloud technologies and that increases the demand for cloud monitoring. For instance, in December 2022, according to Zippia Inc., a US-based career expert, at present, cloud services are used by 94% of businesses. Further, a multi-cloud strategy is in place or being developed by 92% of enterprises and cloud services reached $206.1 billion in 2022. Therefore, growing cloud adoption across enterprises drives the cloud monitoring market.
Key Industry Players
Major companies operating in the cloud monitoring market report are 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., OpenMetrics Project
The cloud monitoring market report table of contents includes:
1. Executive Summary
2. Cloud Monitoring Market Characteristics
3. Cloud Monitoring Market Trends And Strategies
4. Cloud Monitoring Market – Macro Economic Scenario
5. Global Cloud Monitoring Market Size and Growth
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31. Cloud Monitoring Market Other Major And Innovative Companies
32. Global Cloud Monitoring Market Competitive Benchmarking
33. Global Cloud Monitoring Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Monitoring Market
35. Cloud Monitoring Market Future Outlook and Potential Analysis
36.Appendix
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