The global cloud monitoring market is expected to grow from $821.4 million in 2017 to $1,976.9 million by 2022, at a Compound Annual Growth Rate (CAGR) of 19.2%, according to a new market research report published by Reportbuyer.
Regulatory bodies around the globe are increasingly requiring compliances towards stringent data usage and storage guidelines. Standards such as the PCI DSS have large compliance requirements for payment card operations. Moreover, compliance required from HIPAA and Federal Information Security Modernization Act for federal agencies have become the driving forces for creating new security standards.
Compliance requirements are the major growth drivers for the cloud monitoring market as these solutions would provide effective controls that aid in meeting such compliances, according to the new report published by Reportbuyer. However, concerns related to limited cloud visibility may prevent the end-users from adopting these solutions
The Infrastructure-as-a-Service (IaaS) cloud model is expected to have the largest market size during the forecast period. IaaS would help in accessing remote data center infrastructures, such as storage, networking, and computing. Thus, instead of purchasing hardware, users can purchase IaaS as per their requirement and consumptions. The IaaS deployments can generate a massive amount of processor load and network usage, thus monitoring and management of IaaS resources would be critical for smooth business operations. Therefore, demands of IaaS deployments are increasing in various industry verticals, according to the Reportbuyer report.
The cloud monitoring market research has been segmented on the basis of organization size into Small and Medium Enterprises (SMEs) and large enterprises. The major benefit large enterprises receive with cloud transformation is that the cloud services are maintained and supported by the vendors themselves. Firms can thereby engage their employees in more strategic business tasks. The demand for flexible, scalable, and convenient solutions for large enterprises would push service providers to come up with new technologies and offer innovative solutions. Hence, the cloud monitoring market for large enterprises is growing at a significant rate.
APAC, North America
North America is estimated to have the largest cloud monitoring market share in 2017, whereas Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period. Growing adoption of cloud-based services in SMEs and large enterprises would be driving the cloud monitoring revenue growth in this region. Moreover, the increasing concerns toward data breaches and other security attacks have significantly driven the U.S. cloud monitoring market.
On the other hand, the cloud monitoring market in APAC is expected to witness an exponential growth and is projected to be one of the fastest-growing regions in the global cloud monitoring market. This is mainly due to the large-scale adoption of cost-effective cloud-based solutions in these regions.
About The Report
The cloud monitoring report would segment the cloud monitoring market comprehensively and provide the closest approximations of the revenue numbers for the overall market and sub-segments across different industries and regions. The report would help stakeholders understand the pulse of the market and provide them information on the key cloud monitoring market drivers, restraints, challenges, and opportunities. It would also help them better understand their competitors and gain more insights to enhance their position in the market. The competitive landscape section includes new product launches, partnerships, agreements and collaborations, mergers and acquisitions, and expansions related to the cloud monitoring market.
Key vendors profiled in the Reportbuyer report include: CA, Inc. (US); SolarWinds Worldwide, LLC. (US); Dynatrace LLC (US); IDERA, Inc. (US); SevOne Inc. (US); Cloudyn (Israel); Zenoss Inc. (US); Datadog, Inc. (US); Kaseya Limited (US); LogicMonitor, Inc. (US); Opsview Ltd. (US).