Cloud Monitoring Market Share, Size, Trends, Industry Analysis Report, By Service Model (SaaS, PaaS, IaaS); By Component; By Organization Size (Small and Medium-sized Enterprises (SMEs), Large enterprises); By Industry; By Region; Segment Forecast, 2022 - 2030
- Published Date:Jun-2022
- Pages: 117
- Format: PDF
- Report ID: PM1050
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global cloud monitoring market was valued at USD 1.48 billion in 2021 and is expected to grow at a CAGR of 22.5% during the forecast period. The high demand for monitoring massive data sets has propelled the growth of the market. There is an increase in the adoption of the technology due to features such as affordability, performance, flexibility, and scalability.
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Cloud monitoring pertains to monitoring, reviewing, and managing operational processes and work within a cloud-based IT infrastructure. The industry is gaining traction globally because of growth in IT industries switching to these services. It can be used in BFSI, retail and consumer goods, media and entertainment, and manufacturing.
This technology also owns remarkable security capabilities that help to discover and prevent the rising number of data breaches and security threats. This is one of the major factors accelerating market growth. It offers improvised security potential and awareness that assist in adeptly detecting and prohibiting loopholes. Thus, amplifying the demand for these solutions amongst end-users.
Due to the covid-19 pandemic, Zoom has become a presiding technology with positive influence. Interest in video conferencing solutions has risen due to the crisis. Firms should take enterprising measures by counseling the staff and customers to be more observant, mainly when opening links, documents, or emails related to covid-19. Firms should ascertain their detection and cautioning potential are operational while keeping an eye on the impact of having several remote workers.
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Industry Dynamics
Growth Drivers
Growth in the adoption of cloud monitoring technology by firms that need methodical monitoring of assets that are cloud-based and infrastructure to certify cloud performance is anticipated to drive the demand for the industry during the forecast period. This computing systems are widely adopted by various organizations as it enables efficient and faster business operations. This monitoring system inspects potential breaches, recognizes gaps, and affixes the network as cyber-attacks are one of the main worries for any company that is expected to boost the industry during the forecast period.
Several companies are applying these service monitoring systems as the integration procedure is simple. No additional attachment is needed, which is anticipated to drive the cloud monitoring market in the forecast period. An increase in data volume encourages data-driven companies to request sustainable, scalable, and flexible solutions and monitor their data at a cheaper cost, which is expected to propel the demand for the industry during the forecast period. A surge in demand for IoT technology and growing pitfalls in tracking databases are also likely to foster the demand for this monitoring system over the projected time period.
Report Segmentation
The market is primarily segmented based on service model, component, organization size, industry, and region.
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By Component |
By Organization Size |
By Industry |
By Region |
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Insight by Service Model
Based on service model, Software as a Service (SaaS) is leading the market as it is an on-demand application used to regulate and rectify the performance of a system. Growing adoption of SaaS offerings such as customer relationship management, human capital management, enterprise resource management, and other financial applications generates an environment that is friendly for the adoption of the system, particularly in big firms.
Dissimilar to traditional banking application software, it does not require employees for the seamless functioning of the system. It does not require significant investments in PCs, network infrastructures, and backup systems. Additionally, it provides data security and lessens frequent software upgrades.
Therefore, it reduces the inclusive cost of the system. Further, the increasing tendency of the enterprise buyers toward the acquisition of the SaaS solutions is anticipated to boost the development of the market for such service computing in the time to come. Roundabout 45% of investment by the large enterprise in the US will consist of SaaS, thereby boosting the growth of the market for cloud monitoring.
Insight by Component
Based on type, the solutions segment occupied a larger market share during the forecast period. The market supremacy of the solution segment is because of actual application in several end users' functioning. Its sizeable use is the outcome of a monitoring solution in offering a comprehensive view of all on-premises and application tiers naturally corresponding events by depicting linkages between application, services, and cloud type and establishing an effortless cloud monitoring by tracking and resolving the issue with the application.
Geographic Overview
North America dominated the global cloud monitoring market with a largest revenue share. A bulk of companies in the region utilize cloud-based solutions to develop their business operations. Growing consciousness about affordable, easily scalable, and secure cloud-based solutions is expected to boost the industry in the region. For instance, Amazon Web services permit IT services to be distributed to end-use industries with scalability and flexibility. Additionally, it offers companies externally hosted computer tools for their services and applications.
The cloud monitoring market in the Asia Pacific is anticipated to stretch at a speedy pace during the forecast period. Rapid digitalization and soaring adoption of the technology have been observed in companies, particularly in India and China. In India, expanding the number of technology-driven start-ups in sectors such as e-commerce, logistics, retails, supply chain, education, healthcare, BFSI, and manufacturing need robust services which are likely to propel the cloud monitoring system in the country. Utilization of innovation apace with technical progression has been a couple of prominent drivers for the market in the Asia Pacific region.
Competitive Insight
Some of the major players operating in the global market include Alibaba Group Holding Limited, Amazon.com Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, and Workday, Inc. The market players are constantly moving in the direction of contemporary progressions of their current item portfolio. For significant advancements, the players incline toward collaborative efforts with different players in the industry. In May 2020, Microsoft Corporation launched an industry-specific Microsoft cloud for healthcare organizations. It also includes data analytics for both structured and unstructured data.
Cloud Monitoring Market Report Scope
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Report Attributes |
Details |
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The market size value in 2021 |
USD 1.48 billion |
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The revenue forecast in 2030 |
USD 8.13 billion |
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CAGR |
22.5% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Service Model, By Component, By Organization Size, By Industry, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Alibaba Group Holding Limited, Amazon.com Inc., Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., SAP SE, and Workday, Inc. |
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