Monitoring is an extremely necessary and salient part of any business for smooth process flow. Synthetic monitoring provides the examination of user behavior at regular intervals through-out an application or a website and offer an astute visibility of end-to-end performance of the system. Synthetic monitoring benefits the websites emulating all the possible errors that can occur. Effective monitoring requires data-driven insights for hassle-free maintenance and timely detection of unplanned downtime, resource saturation, and network intrusion in the websites. Subsequently, the demand for synthetic monitoring in information technology and banking sector are increasing rapidly. The availability of various tools such as Uptrends, Dynatrace, Pingdom, and Uptime.com deployed in the right manner provides tremendous benefits to these sectors. Hence, with the rising demand for high-efficient solutions in streams such as availability monitoring, web performance monitoring, Service Level Management (SLM), and transaction monitoring, the opportunities for the synthetic monitoring market are gaining significant traction. As of 2018, the global synthetic monitoring market size evaluated to be $1.2 billion and the demand is poised to grow at a notable CAGR of 16% during the forecast period 2019-2025.
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North America Dominating the Global Synthetic Monitoring Market
North America dominated the global synthetic monitoring market with a share of 37% in 2018. The market is flourishing due to the demand for pro-active monitoring of continuously increasing adoption of cloud-based applications, intricate applications, and rising need for DevOps applications. In addition to this, North America has a significant requirement for SaaS-based applications because of the mount in the adoption of DevOps. As the discrete manufacturing, banking, and professional services are investing heavily into cloud computing, the United States is expected to become the largest market for public cloud services in the upcoming years. In North America, as the consumers are constantly opting for online services, especially in the conventional markets, the companies are focusing on improving their application management services, and consequently, using synthetic monitoring services. Therefore, the synthetic monitoring is expected to propel in the region in the upcoming years.
Competitive Landscape
Some of the key players operating in the synthetic monitoring market are Dell Technologies, Inc., IBM, Microsoft, Hewlett Packard, BMC Software Inc, CA Technologies Inc., New Relic Inc., Appdynamics, Inc., and Riverbed Technology. Many companies are introducing new products in order to increase their market presence or entering into strategic mergers and acquisition, joint ventures, and partnerships.
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