Synthetic Monitoring Market Overview
Synthetic monitoring uses an emulation or scripted recordings of transactions to monitor applications. It uses robotic agents to simulate the real user’s interaction. It also includes testing of applications before they are launched to end-users. Synthetic monitoring tools have HTTP, automatic cookie handling, cross platform support, load generation, response verification, an execution and monitoring console, real-time stats, GUI or console modes, and custom timers.
According to the latest report published by Market Research Future (MRFR), the synthetic monitoring market is expected to garner a robust CAGR of 17.7% during the assessment timeline. Factors influencing such growth include growing need for monitoring and management of numerous complicated applications, rising need for DevOps, assurance of meeting the Service Level Agreements (SLAs), customer centric goals by organizations, and higher economies of scale.
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Key Players
Some of the top players in the synthetic monitoring market profiled by MRFR include IBM Corporation, Broadcom Inc., BMC Software, Splunk Inc., Hewlett Packard Enterprise Company, New Relic Inc., Microsoft Corporation, Riverbed technology, Dell technologies Inc., AppDynamics, and Intel Corporation.
Segmental Analysis
The synthetic monitoring market has been segmented on the basis of services, monitoring type, deployment, application, vertical, and region. On the basis of services, the market has been segmented into managed services, consulting services, implementation services, and training & support services. Among these, the segment of consulting services is predicted to hold the largest market share for synthetic monitoring services. Additionally, the managed services segment is anticipated to grow at a higher CAGR between 2019 to 2023.
On the basis of monitoring type, the market has been segmented into web application monitoring, mobile application monitoring, API monitoring, and software as a service (SaaS) application monitoring. The segment of API monitoring is currently leading the market. It is further projected to dominate the synthetic monitoring market through the forecast period.
Based on deployment, the synthetic monitoring market has been bifurcated into on-premise and on-cloud. The on-premise segment was leading the synthetic monitoring market during 2019. However, the on-cloud segment is anticipated to gain momentum during the assessment period and emerge as the largest segment by 2023 end.
On the basis of application, the market has been segmented into competitive benchmarking, service-level agreements monitoring (SLA monitoring) application testing, and content delivery network testing (CDN testing). The application testing segment is expected to garner lucrative growth during the forecast timeline, registering a CAGR of 20.7%.
The market has been segmented into BFSI, government, IT & telecommunication, healthcare, retail, and automotive on the basis of vertical. Currently, the BFSI segment is the frontrunner in the synthetic monitoring market and is expected to hold its top market position throughout the forecast period. Alternatively, the retail segment is estimated to garner substantial growth in the assessment period.
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Detailed Regional Analysis
The global synthetic monitoring market has been regionally segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). According to the report, North America is expected to hold the largest market share and is anticipated to remain highly lucrative throughout the assessment period.
Europe is estimated to grow from USD 297.9 Mn in 2019 to USD 816 Mn by the end of 2023. Countries like Germany and the U.K. are also expected to drive major growth to the synthetic monitoring market. Development opportunities in Asia Pacific are anticipated to propel growth in the synthetic monitoring market with a healthy CAGR of 22% during the review period.
Industry Updates
February 2019: Keysight Business released the Vision Edge 1S (E1S) visibility solution, a cost-effective solution that combines network packet broker functionality with application and synthetic monitoring in a single appliance and delivers network visibility to remote sites, with enabled edge computing. Keysight Technologies is a leading technology company that helps enterprises, service providers, and governments accelerate innovation to connect and secure the world.
LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 15
TABLE 2 LIST OF ASSUMPTIONS 18
TABLE 3 GLOBAL SYNTHETIC MONITORING MARKET, BY SERVICES, 2019-2023 (USD MILLION) 43
TABLE 4 GLOBAL SYNTHETIC MONITORING MARKET, BY MONITORING TYPE, 2019-2023 (USD MILLION) 46
TABLE 5 GLOBAL SYNTHETIC MONITORING MARKET, BY DEPLOYMENT, 2019-2023 (USD MILLION) 49
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LIST OF FIGURES
FIGURE 1 GLOBAL SYNTHETIC MONITORING MARKET: MARKET STRUCTURE 19
FIGURE 2 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2019 VS 2023) 21
FIGURE 3 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2019 VS 2023) 21
FIGURE 4 ASIA-PACIFIC & MARKET SHARE BY COUNTRY (2019 VS 2023) 22
FIGURE 5 REST OF THE WORLD MARKET SIZE & MARKET SHARE BY COUNTRY (2019 VS 2023) 22
Continued…….
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