Market Overview:
The Global Synthetic Monitoring Market size is expected to grow from USD 2.49 billion in 2022 to USD 10.34 billion by 2030, at a CAGR of 19.5% during the forecast period (2023-2030).
The Global Synthetic Monitoring Market is poised for remarkable growth, with its value projected to escalate from USD 2.08 billion in 2021 to USD 7.26 billion by 2028, reflecting a robust CAGR of 19.5%. Synthetic monitoring, a method of proactive application monitoring, is gaining traction due to its ability to simulate user interactions and assess application performance. It offers critical insights into uptime and the performance of vital business transactions, allowing companies to optimize their applications for optimal user experiences. This type of monitoring bridges the gap between centralized and distributed systems, ensuring accessibility, consistency, and manageability while promoting growth, cost-effectiveness, and autonomy.
Major Key Players:
- CA Technologies
- BMC Software
- IBM
- Dell
- Dynatrace
- Microsoft
- Splunkbase
- Appdynamics
- New Relic
- Riverbed and other major players.
Market Drivers and Opportunities:
Drivers:
New Generation Monitoring Applications: The adoption of new-generation monitoring applications by businesses is driving the synthetic monitoring market. Complex applications demand proactive management and monitoring, and microservices are facilitating improved application development. This includes SLA parameter evaluation and the importance of DevOps practices.
IT and Telecommunication Sector Growth: The rapid growth in the IT and telecommunication sector, along with the reliance on cloud infrastructure across various industries, presents a significant growth opportunity. Efficient monitoring is vital for on-premises, cloud, and hybrid infrastructure, leading organizations to seek comprehensive monitoring solutions.
Opportunities:
Predictive Analytics and Customer Experience Management: Predictive analytics and data-driven decision-making offer opportunities for enhancing customer experience management. Advances in software-defined technologies and application delivery also contribute to the potential growth of the synthetic monitoring market.
Rising Demand for Comprehensive Monitoring: The complexities of modern IT landscapes necessitate active and comprehensive monitoring solutions. The reliance on traditional IT monitoring tools is declining in favor of solutions that provide a holistic view of complex infrastructures.
Recent Developments:
In August 2019, SmartBear acquired Bitbar, enhancing its test automation platform for mobile applications and device clouds. The acquisition strengthens SmartBear's product portfolio by incorporating advanced test solutions.
In February 2020, Dynatrace partnered with the U.S. Department of Veterans Affairs to improve cloud visibility and support cloud migration efforts.
Synthetic Monitoring Market Segmentation:
By Type
- Uptime Monitoring
- Page Speed Monitoring
- Transaction Monitoring
By Application
- API Monitoring
- Website Monitoring
- Mobile Application Monitoring
By End User
- BFSI
- IT and Telecommunication
- Retail and E-commerce
- Media and Entertainment
- Travel and Hospitality
- Others
Type: Transaction Monitoring dominates the segment, enabling comprehensive assessment of customer transactions. Financial institutions use this type of monitoring to analyze customer activities, including wire transfers, deposits, and withdrawals.
Application: Website Monitoring takes precedence, providing a baseline for monitoring website server and application performance with minimal user interaction. Test scripts simulate user actions, allowing organizations to detect potential failures before real users encounter them.
End User: The Retail and E-commerce sector leads the segment. Synthetic monitoring aids in emulating user transactions such as adding items to shopping carts and checking out, ensuring optimal performance and user experience.
For this report, Introspective Market Research has segmented the Synthetic Monitoring Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America: The North American market experiences growth due to the need for proactive monitoring of complex applications and the increased adoption of cloud-based and DevOps applications. Online platforms gain favor among consumers, driving enterprises to enhance application management services. The region's focus on DevOps and SaaS-based applications contributes to the demand for synthetic monitoring.
Asia Pacific: Asia Pacific emerges as a fast-growing region, driven by IT sector development and the expansion of online business platforms in countries like India, China, Japan, and South Korea.
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
