The global cloud monitoring market is expected to surge at 12% CAGR from 2017 to 2023 owing to emergence of various cloud data centers. The integration of cloud computing in business processes by major corporations and enterprises to scale extensively is likely to bolster the market demand till 2023. Cloud monitoring offers tools to manage and monitor workflow and processes within a cloud infrastructure. It offers business solutions in the form of three models, namely Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS).
Adoption of cloud across industry verticals such as retail, IT, and BFSI is expected to work in favor of the Cloud Monitoring Market. The shift towards digitization amid growing demands from customers can spur the market demand. Advantages of cost effectiveness, flexibility, and high performance are likely to drive the adoption rate of cloud monitoring.
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Some of the major players in the global cloud monitoring market are CA, Inc. (U.S.), SolarWinds Worldwide, LLC. (U.S.), Dynatrace LLC (U.S.), IDERA, Inc. (U.S.), SevOne Inc. (U.S.), Cloudyn (Israel), Zenoss Inc. (U.S.), Datadog, Inc. (U.S.), Kaseya Limited (U.S.), LogicMonitor, Inc. (U.S.), and Opsview Ltd. (U.S.).
The global Cloud Monitoring Market study is segmented by component, service model, organization, and end-users.
Based on component the market is segmented into solution and services. Market Research Future predicts that both the solution and services market segments are likely to generate significant revenue for the market.
Based on service model the market is segmented into LaaS, SaaS, and PaaS. Adoption of cloud solutions by enterprises like resource management, human capital management, and customer relationship is leveraging the global cloud monitoring market and the SaaS segment of the market is likely to expand at a rapid pace.
The PaaS segment of the market is anticipated to drive the global cloud monitoring market.
Based on organization the market is segmented into large and small & medium enterprises (SME). The large enterprise segment of the market is predicted to gain significant revenues for the global cloud monitoring market in the forecasted period.
Based on end-users the cloud monitoring market is segmented into media & entertainment, manufacturing, defense, government, telecommunications, healthcare, and BFSI. The BFSI segment of the market is expected to proliferate at a rapid rate by 2023 owing to an increase in the acceptance of cloud-based solution that expedite product development cycles and response to customers in financial institutions.
North America is likely to dominate the cloud monitoring market over the forecast period, predicts MRFR. Rapid adoption of cloud technologies that provide different efficient business solutions is boosting the market in North America.
Embracing cloud business models in SMEs and large enterprises is likely to boost the cloud monitoring market demand exponentially in North America. SMEs and large enterprises are expected to hold massive share in the cloud monitoring market growth in this region.
Asia Pacific is anticipated to exhibit a robust growth in the market. Various cloud-based solutions launched by different brands, one being Amazon, are accelerating the market growth in this region.
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- Software Developers
- Software Providers
- Application Developers
- Hardware Providers
- System integrators
- Government and standardization bodies
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