Global unified monitoring market expected to reach around USD 15.18 billion by 2024, growing at a CAGR approximately 28.32% for the forecast period from 2018 to 2024. Unified monitoring is a platform that integrates and manages the entire IT infrastructure, including cloud, physical, and virtual platform.
Sarasota, FL -- (SBWIRE) -- 04/19/2019 -- Zion Market Research has published a new report titled "Unified Monitoring Market by Component (Solutions & Services), by Deployment Type (On-Premises and Cloud), and by Vertical (BFSI, Telecommunications And IT, Healthcare And Life Sciences, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2017 – 2024". According to the report, the global unified monitoring market was valued USD 2.65 billion in 2017 and is expected to reach around USD 15.18 billion by 2024, growing at a CAGR approximately 28.32% for the forecast period from 2018 to 2024.
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Unified monitoring is a platform that integrates and manages the entire IT infrastructure, including the cloud, physical, and virtual platform. It is a proven strategy for increasing end-user and IT productivity, maintaining industry compliance, and others. With this approach, the user gets visibility into metrics of interest from each of these discrete areas. As the organizations are evolving, many are switching to cloud-based and virtual servers to support their legacy systems.
The increase in the rate of big data and Internet of Things (IoT) among enterprises, complexities in applications, and applications running on the huge IT environment are driving the growth of unified monitoring market. Moreover, the necessity to efficiently manage the security and performance is another factor boosting the market growth. However, the organizations encouraging traditional technology than the modern ones would negatively affect the growth of the market. Technological advancements and the growing need to enhance the customer experience would provide a great opportunity to this market.
Unified monitoring market is segmented on the basis of component, deployment type, verticals, and regions. The component segment is divided into solutions and services. Solutions included in the unified monitoring market are IT infrastructure monitoring, cloud monitoring, application monitoring, and virtual environment.
The services provided by the component are fragmented into training and consulting, integration and deployment, support and maintenance. The service segment is also expected to grow at the highest CAGR during the forecast period. Increasing adoption of unified monitoring services among the small and medium-sized enterprises due to ease and flexibility will surge the demand of this segment over the forecast period. On the basis of the deployment module, the market is fragmented in terms of on-premises and cloud-based platform. The cloud-based platform for unified monitoring solutions is projected to witness the higher growth rate in the near future as it offers various benefits such as improved scalability, flexibility, and security. Moreover, the cloud offers high-end performance, thus the enterprises that are more worried about security tend to opt for private cloud deployment type. For instance, CA Technology offers innovative managed monitoring services for cloud and hybrid IT infrastructures, which can provide new avenues for revenue growth and profitability. Further, the vertical segment is divided into BFSI, telecommunications and IT, healthcare and life sciences, manufacturing, government and public sector, and various others. The market is fragmented into five main regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Moreover, it has been witnessing that the merger acquisitions among renowned players are changing the structure of the market. For instance, in 2018, Cisco acquired Appdynamics Inc., which is one among the software leaders in business performance and application monitoring. As Cisco is known for better anticipation, capturing, and leading market transitions via numerous acquisitions and joint ventures, the company was able to offer extraordinary visibility into the presentation of customer's applications.
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The major players in the global unified monitoring market include Appdynamics, Zenoss Inc., CA Technologies, Groundwork Open Source Inc., Fata Informatics, Zoho Corporation Pvt. Ltd., Dynatrace LLC, Opsview Ltd., Groundwork Open Source Inc., Fata Informatica, Acronis International GmbH., Kaseya, Netvisor Paessler AG, Sciencelogic, Op5, Cloudaware, and SolarWinds Worldwide, LLC, among others.
The report segments the global unified monitoring market as follows:
Global Unified Monitoring Market: By Component
IT Infrastructure Monitoring
Virtual Environment Monitoring
Training and Consulting
Integration and Deployment
Support and Maintenance
Unified Monitoring Market: By Deployment Type
Global Unified Monitoring Market: By Verticals
Telecommunications and IT
Healthcare and Life Sciences
Government and Public Sector
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Global Unified Monitoring Market: By Region
The Middle East and Africa