The recent research report published by Market Research Future (MRFR) asserts that the global market is slated to acquire a substantial revenue generation of more than USD 3.27 billion recorded ni 2018, at a moderate CAGR of 10.6% over the review period.
Drivers and Restraints
The numerous factors contributing towards the growth of the global system monitoring market are the growing demand for improved optimization of business operations in organizations in several industries, along with the development of outsourced IT infrastructure management. The additional factors driving the market growth are the increasing demand across small and medium enterprises for remote monitoring systems is also expected to fuel the growth of the market over the review period.
On the other hand, the lack of awareness concerning system monitoring technology is poised to account for a limitation to the global market for system monitoring solutions.
The segmentation of the global market for system monitoring is carried out on the basis of component, deployment, type, organization size, and vertical.
Based on the components, the market has been bifurcated into solutions and services. The solutions segment consists of application monitoring, network monitoring, cloud monitoring, server monitoring, and others. The services segment of the market is bifurcated into managed and professional services.
System monitoring technology is deployed through cloud and on-premise.
The organizations operating in the global system monitoring market are small and medium enterprises (SMEs) and large enterprises.
The industry verticals that are adopting system monitoring technology are IT and telecommunications, banking, financial services, and insurance (BFSI), government, healthcare, energy and utilities, manufacturing, and others.
The regional analysis of System Monitoring Market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (covering Latin America and the Middle East and Africa).
The North American market for system monitoring technology is poised to lead the market over the review period with a substantial market share. This growth is accredited to the rising adoption and development of advanced technologies in the region. The market is also driven by the presence of developed economies such as the US and Canada, wherein the US in a technological hub and witnesses the highest adoption of digitally transformative solutions. Moreover, the presence of a large number of system monitoring vendors in a higher concentration in the region, coupled with the increasing need for accountable and compliance-based system usage in enterprises, is also projected to drive the market through the review period.
North American region is followed by Europe, in terms of market share and overall growth, since it has similar market and economic dynamics as that of North America. However, the Asia pacific market for system monitoring solutions is expected to witness substantial growth and exhibit the fastest CAGR over the review period. This can be attributed to the increasing investments in the regional market from global market players since it is an untapped market, which enhances its value. Moreover the increasing urbanization, globalization, and industrialization over the region has transformed the economic condition.
The major market players operating in the global system monitor market identified by MRFR are ConnectWise Automate (US), SolarWinds (US), NinjaRMM (US), Continuum Managed Services (US), Monitis.com (US), CA Technologies (US), Ipswitch (US), Oracle Corporation (US), Kaseya (Ireland), Red Gate Software Ltd (UK), Microsoft Corporation (US), Nagios Enterprises, LLC (US), Paessler AG (Germany), New Relic, Inc. (US), and Site24x7 (US). The other market players in the Global System Monitoring Market also contributing substantially to the market growth include Panopta LLC (US), ThousandEyes (US), ScienceLogic (US), Datadog (US), and Exoprise Systems Inc. (US).
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