After a detailed analysis of the technology market, FMI recently published a new report on the monitoring tool market. As per the analysis, sales of monitoring tools hold a current valuation of USD 25.1 billion in 2024.
Reflecting on consumers’ expectations, monitoring tool producers work on simpler labels with understandable ingredients, reinforcing continuous demand. Going by this pattern, demand could rise and equate to a market valuation of USD 170 billion, with a staggering CAGR of 21.1% by 2034.
Attributes | Details |
---|---|
Monitoring Tool Market Value for 2024 | USD 25.1 billion |
Monitoring Tool Market Value for 2034 | USD 170 billion |
Monitoring Tool Market Forecast CAGR for 2024 to 2034 | 21.1% |
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In 2019, the global monitoring tool market showed a potential worth USD 8.3 billion, according to a report from Future Market Insights (FMI). The monitoring tool market witnessed significant growth, registering a CAGR of 24.9% from 2019 to 2023.
Historical CAGR | 24.9% |
---|---|
Forecast CAGR | 21.1% |
The demand for monitoring tools across various industries was on the verge of improvement, such as adopting digital technologies, proliferating Internet of Things (IoT) devices, and the augmenting need for real-time data analysis and insights contributed to the enlargement of the market during this period.
The monitoring tool market is projected to continue its growth momentum with a CAGR of 21.1% from 2019 to 2023. Despite the slightly reduced growth rate compared to the historical period, this forecast indicates sustained augmentation and significant opportunities in the market.
The continued digitization of businesses, the integration of artificial intelligence and machine learning technologies into monitoring tools, and the magnified focus on cybersecurity and data protection are contemplated to inflate the market.
The below section shows the leading segment. Based on the component, the software segment is registered to rise at 20.8% CAGR. Based on deployment, the cloud segment is registered to rise at 20.6% CAGR.
Artificial intelligence, machine learning, and predictive analytics are examples of cutting-edge technologies continuously added to software solutions.
Organizations extend their monitoring infrastructure with response to change in needs without being constrained by physical hardware to cloud deployment.
Category | CAGR by 2034 |
---|---|
Software | 20.8% |
Cloud | 20.6% |
Based on the component type, the software market is predicted to rise at a CAGR of 20.8%, which indicates that it is developing significantly.
The propelling usage of artificial intelligence (AI) and advanced analytics in monitoring software where these software solutions are being used by organizations to improve decision-making processes, extend operational efficiency, and extract deeper insights from their data.
Continuous advancements in automation capabilities, predictive analytics, and data visualization also fuel the development of the software segment in the market.
Based on the deployment type, the cloud deployment market is registered to rise at a CAGR of 20.6%. A few benefits of cloud-based deployment are cost-effectiveness, scalability, and flexibility.
Businesses often approve cloud-based monitoring solutions to take advantage of these advantages and optimize their processes. Cloud deployment makes it easier to use the monitoring tools remotely, allowing for real-time monitoring and analysis from any location.
The need for software-as-a-service (SaaS) solutions and the augmenting usage of cloud computing across industries are propelling the development of the cloud segment in the market for monitoring tools.
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The table describes about the top five countries ranked by revenue, with South Korea holding the top position.
South Korea is leading the monitoring tool market by spearheading innovative smart city development and urban planning approaches. With a strong focus on technology and innovation, South Korea is leveraging monitoring tools to transform its urban landscape into a more sustainable and efficient environment.
By deploying advanced monitoring solutions, South Korea is effectively managing resources, optimizing public services, and enhancing the quality of life for its citizens. The companies of South Korea companies actively contribute to the global monitoring tool market by researching, developing, and exporting cutting-edge monitoring technologies.
Forecast CAGRs from 2024 to 2034
Countries | CAGR through 2034 |
---|---|
United States | 20.8% |
United Kingdom | 21.8% |
China | 21.7% |
Japan | 22.1% |
South Korea | 22.6% |
The monitoring tool market is primarily used for optimizing business operations across various industries. Companies utilize monitoring tools to track performance metrics, analyze data, and identify areas for improvement in processes, systems, and workflows.
From monitoring network performance and server uptime to analyzing customer behavior and market trends, monitoring tools are compelling in enhancing operational efficiency that propels business growth in this competitive market.
The monitoring tool market is majorly used for cybersecurity and threat detection purposes. With the rise in economic growth due to the frequency and sophistication of cyberattacks, organizations prioritize deploying monitoring tools to detect and mitigate security threats in real-time.
From monitoring network traffic for suspicious activity to analysis of system logs for signs of intrusion, monitoring tools help safeguard sensitive data, protect digital assets, and ensure compliance with regulatory requirements in the dynamic landscape of cybersecurity.
The market predominantly utilizes industrial automation and manufacturing applications. Technological innovation and advanced manufacturing capabilities and monitoring tools play a dignified role in optimizing production processes, monitoring equipment performance, and ensuring quality technological control in factories and industrial facilities.
The predominant usage for infrastructure monitoring and disaster preparedness initiatives is taken. Due to their susceptibility to natural disasters such as earthquakes and typhoons, organizations rely on monitoring tools to monitor critical infrastructure assets, including buildings, transportation networks, and utilities.
By continuously monitoring infrastructural health and performance metrics, monitoring tools enable early detection of potential issues, timely emergency response, and effective disaster recovery planning in high-risk environments in Japan.
Development of smart city and urban planning initiatives are taken. As the country strives to become a global hub for technology and innovation, monitoring tools are pivotal in building smarter, more sustainable cities.
From monitoring traffic flow and air quality to analyzing energy consumption patterns and optimizing public services, monitoring tools enable data-driven decision-making and improve the quality of life for citizens in South Korea.
The competitive landscape of the monitoring tool market is characterized by a diverse range of players, including multinational corporations. Lucrative opportunities are held by market players that compete based on product features, pricing, reliability, and customer service.
Continuous innovation, strategic partnerships, and acquisitions are common strategies companies employ to gain a competitive edge. With the propelling demand for advanced monitoring solutions, competition in the market remains fierce due to companies’ market share and customer loyalty.
Some of the key developments are:
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 25.1 billion |
Projected Market Valuation in 2034 | USD 170 billion |
Value-based CAGR 2024 to 2034 | 21.1% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Market Segments Covered | Component, Deployment, Type, Vertical, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | Atera; AWS (Amazon Web Services); Better Stack; Checkmk; Cisco; Datadog; Dynatrace; Exoprise; Google; IBM; Icinga; Idera; ITRS |
As of 2024, the market for monitoring tools is expected to be valued at USD 25.1 billion.
The monitoring tool market is projected to expand at a CAGR of 21.1% between 2024 and 2034.
The software segment is projected to dominate the industry.
By 2034, the market value of monitoring tools is expected to reach USD 170 billion.
South Korea is likely the top-performing market, with a CAGR of 22.6%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component 5.1. Software 5.2. Services 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Deployment 6.1. Cloud 6.2. On-premises 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 7.1. Infrastructure Monitoring Tools 7.1.1. Network Monitoring 7.1.2. Storage Monitoring 7.1.3. Server Monitoring 7.1.4. Cloud Infrastructure Monitoring 7.1.5. Others 7.2. Application Performance Monitoring Tools 7.2.1. Database Monitoring 7.2.2. Web Application Monitoring 7.2.3. Mobile Application Monitoring 7.2.4. Code Level Monitoring 7.2.5. Others 7.3. Security Monitoring Tools 7.3.1. Intrusion Detection and Prevention Systems (IDPS) 7.3.2. Log Monitoring and Analysis 7.3.3. Vulnerability Assessment and Management 7.3.4. Others 7.4. End-user Experience Monitoring Tools 7.4.1. Synthetic Monitoring 7.4.2. Real User Monitoring 7.4.3. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Vertical 8.1. BFSI 8.2. Retail & E-commerce 8.3. Healthcare 8.4. IT & Telecom 8.5. Media & Entertainment 8.6. Manufacturing 8.7. Others 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Atera 19.2. AWS (Amazon Web Services) 19.3. Better Stack 19.4. Checkmk 19.5. Cisco 19.6. Datadog 19.7. Dynatrace 19.8. Exoprise 19.9. Google 19.10. IBM 19.11. Icinga 19.12. Idera 19.13. ITRS 20. Assumptions & Acronyms Used 21. Research Methodology
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