The Cloud Monitoring Market was valued at USD 1335.75 million in 2019?and is expected to reach USD 4549.30 million by 2025, at a CAGR of 22.66% over the forecast period 2020?- 2025. Customers do not entirely rely on cloud services with their workloads. Therefore, vendors are developing tools which would monitor both on-premise and cloud environments of the companies. For instance, Oracle designed a cloud service with great machine-learning-based instruments and facilities explicitly tuned to monitor and manage infrastructure and applications. It works virtually on any cloud and on-premises environments. It supports traditional technology stacks, including Microsoft and Oracle and popular cloud vendors such as Google, Amazon, and Microsoft.
- End-user industries are incorporating cloud for scale and agility. However, gaining a clear view of performance in cloud environments can be a challenge. In order to intelligently manage the intricate, ever-changing applications and infrastructure, a monitoring solution is needed that’s as dynamic as the cloud.
- Moreover, the growing adoption of cloud technology across industries such as BFSI, IT, retail, and various others is boosting the growth of cloud monitoring market. It is a significant part of an overall cloud management strategy, enabling IT administrators to review the operational status of cloud-based resources.
- Growing deployment of SaaS offerings such as customer relationship management, human capital management, enterprise resource management, and other financial applications forms a favorable environment for the adoption of cloud monitoring, especially in large organizations.
- Apart from this, it also provides a holistic view of cloud metrics, customer flow, log data and more. However, costs associated with the services and limited visibility are acting as a challenge for the cloud monitoring market.
Scope of the Report
Cloud monitoring is the process of monitoring, reviewing, and managing the operational processes and workflow within a cloud-based IT infrastructure. The use of IT monitoring ensures that a cloud infrastructure or platform is performing efficiently. In addition to cloud monitoring and ensuring cloud infrastructure/solution/service, cloud monitoring data also helps in assessing the performance of the entire infrastructure on an optimal level. Properties such as response rate report and server uptime can help in evaluating customer/user experience.
Key Market Trends
Growing Demand from BFSI Sector to Augment the Market Growth
- A shift toward modernization and digitization is occurring within the financial services industry, with institutions of all sizes shedding their caution about the cloud and embracing its capabilities.
- Deploying cloud allows financial institutions to experience shorter development cycles for new products, supporting a faster and more efficient response to the needs of banking customers.
- Banks and financial institutions have witnessed several data breaches. In the United Kingdom, the number of data breaches reported by UK financial services firms to the Financial Conduct Authority (FCA) increased 480% in 2018, 145 up from just 25 in 2017. Moreover, financial firms such as JP Morgan Chase also witnessed heavy data breaches.
- The cost of recovering these breaches is very high for banks and financial sectors which emphasises on cloud monitoring thereby driving the market growth.
Asia-Pacific Expected to Witness the Fastest Growth
- The cloud monitoring market in the region is driven by the growing adoption of cloud technology in the end-users, especially in China and India. In India, the interest in the cloud is being driven by the increasing need for business innovation and agility, coupled with the ability to scale fast in a competitive market, and the government’s thrust towards a Digital India initiative.
- The growth in cloud adoption can be proven by the fact that since the launch of AWS in the Asia Pacific in June 2016, more than 120,000 customers including Tata Motors, Future Group, and Shoppers’ Stop have adopted AWS Cloud for a broad range of applications.
- According to a report from The Economist, the cloud-computing business of the Chinese e-commerce behemoth grew by 126%, to USD 675 million and is unlikely to slow soon. To keep up with the growing demand Amazon Web Services, in collaboration with NWCD opened its second Chinese cloud computing zone, its 17th around the world.
The cloud monitoring market is consolidated because the majority of the market share is owned by top players in the industry. However, small and medium are upgrading their cloud services but top players have gained a major proportion of consumers and also investing huge for more developments and innovation. Some of the key players include AWS, CA Technologies, Cloudyn, Oracle Corporation, Microsoft Corporation, IBM Corporation, IDERA Inc., LogicMonitor Inc., among others.
- June 2019 - Microsoft Corp. and Oracle Corp. announced a cloud interoperability partnership enabling customers to migrate and run mission-critical enterprise workloads across Microsoft Azure and Oracle Cloud. Enterprises can now seamlessly connect Azure services, like Analytics and AI, to Oracle Cloud services, like Autonomous Database. By enabling customers to run one part of a workload within Azure and another part of the same workload within the Oracle Cloud, the partnership delivers a highly optimized, best-of-both-clouds experience.
- April 2019 - Logic monitor, a leading Software-as-a-Service (SaaS)-based performance monitoring platform for enterprise IT and Managed Service Providers, announced that it has achieved AWS DevOps competency status and is also now available on AWS Marketplace bringing its hybrid infrastructure monitoring and analytics solution to global AWS customers.
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