According to a new market research report "Cloud Monitoring Market by Component (Solution and Services (Integration and Deployment, Support and Maintenance, and Training and Consulting)), Service Model, Organization Size, Industry, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Cloud monitoring market 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%.
The increasing number of security threats and data breaches have propelled the adoption of cloud monitoring solutions. Cloud monitoring offerings provide enhanced security capabilities and insights that help to efficiently detect and prevent vulnerabilities. This has further fueled the demand for these solutions among the end-users.
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The support and maintenance services are expected to grow at a considerable CAGR during the forecast period
By service, the cloud monitoring market has been segmented into integration and deployment, support and maintenance, and training and consulting. Support and maintenance services include support related to the implementation and use of products, provided by cloud monitoring vendors. Maintenance services facilitate upgrades to the existing systems and provide assistance for solving issues related to products. As the deployment of cloud monitoring solutions is increasing, the demand for support and maintenance services is also gaining traction.
The Software as a Service (SaaS) segment is expected to have the highest CAGR during the forecast period
By service model, the market has been segmented into SaaS, Platform as a Service (PaaS) and infrastructure as a Service (IaaS). SaaS is a model of software deployment where an application is hosted as a service and provided to users through the web. SaaS is also known as an on-demand software or application solution. Using a comprehensive cloud monitoring solution, administrators are able to attain measuring points for many SaaS-based applications. These monitoring tools provide the ability to gain continuous insights into SaaS performance and to proactively detect and rectify any performance regressions or problems. As the deployment of SaaS is increasing, the demand for cloud monitoring solutions is also gaining traction.
North America is expected to dominate the cloud monitoring market during the forecast period
On the basis of regions, the global market is segmented into North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to have the largest market size in 2017, owing to the presence of a large number of vendors and rapid adoption of cloud-based solutions in this region. The market in APAC is expected to grow at the highest CAGR during the forecast period. The primary driving forces for this growth are the increasing awareness and adoption of cost-effective and scalable cloud-based solutions in this region.
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The report also includes different strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to increase their shares in the market. Some of the major technology vendors in the cloud monitoring market 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), and Opsview Ltd. (US).
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