Synthetic Monitoring Market to Emerge with 11.6% of CAGR by 2027 Fueled by Growing Need for Enhanced Productivity and Cost Reduction

NEW YORK, UNITED STATES, February 8, 2022 /EINPresswire.com/ -- According to our latest market study on “Synthetic Monitoring Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), Monitoring Type (API Monitoring, SaaS Application Monitoring, Mobile Application Monitoring, and Web Application Monitoring), and Industry (BFSI, Government, Retail, Healthcare, IT and Telecom, and Other Industries),” the market was valued at US$ 1,982.58 million in 2019 and is projected to reach US$ 4,718.57 million by 2027; it is expected to grow at a CAGR of 11.6% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

Market Size Value in - US$ 2,182.25 Million in 2020
Market Size Value by - US$ 4,718.57 Million by 2027
Growth rate - CAGR of 11.6% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 197
No. Tables - 110
No. of Charts & Figures - 94
Historical data available - Yes
Segments covered - Deployment , Organization Size , Monitoring Type , and Industry
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Synthetic or direct monitoring solutions are used to monitor various types of enterprise applications and their performance by simulating user actions through emulation and scripted transactions methods at regular intervals. Synthetic or direct monitoring solutions provide critical information to end users regarding enterprise applications and their performance in terms of functionality, availability, and response times. The growing adoption of digital solutions across enterprises accelerates the demand for flawless application performance system to ensure smooth user experience and prevent financial or operational loss. Any hindrance in the performance of such applications harms customer loyalty, company’s brand image, and profits.

Impact of COVID–19 Pandemic on Synthetic Monitoring Market
APAC is also home to around 60% of world population that includes the two most populous countries of the world, China and India. The huge population presents many growth opportunities for companies operating in different sectors. Also, the rising penetration of consumer electronics among end users and increased demand of online media content and digital services due to ongoing COVID 19 outbreak and movement restrictions in major countries are some of the factors that are driving the demand of synthetic monitoring solutions among enterprises. These solutions allow companies to offer uninterrupted and smooth experience to their end users by identifying any issues that may impact the application performance.

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High Growth Potential in Small and Medium-Sized Enterprises
Synthetic monitoring tools are being used among enterprises for monitoring of enterprise applications and it provides information regarding uptime and overall performance of critical business transactions by simulating various customer activities. These tools allow companies to bridge the performance gaps that may affect the overall end user experience. Presently, the synthetic monitoring market is dominated by large enterprises in terms of revenue share owing to the large-scale operations of these enterprises coupled with high adoption of such solutions in developed regions such as North America and Europe. In addition to this, large enterprises are also the ones that are driving the trend of digital transformation to improve overall operational efficiency and enhance end user experience. However, the rising adoption of digital solutions, cloud computing, and web/mobile applications among small & medium sized enterprises (SMEs) is anticipated to offer attractive growth opportunities to market players operating in the global synthetic monitoring market. SMEs are in the growth stage of adopting advanced performance monitoring solutions by replacing the traditional application performance management solutions. Moreover, the growing adoption and popularity of cloud-based synthetic monitoring solutions, SMEs are now increasing investing in such solutions for cost benefits and easy integration. Hence, the increasing penetration of digital solutions among SMEs for improving business processes, enhancing operational productivity, and reducing costs are some of the factors that will offer growth opportunities to the market players during the forecast period of 2020 to 2027.

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Strategic Insights:
Players operating in the synthetic monitoring market are mainly focused on the development of advanced and efficient products.
- In 2020, AppDynamics’ application performance management, cloud monitoring, and microservices support solutions are in the demand in ongoing COVID-19 pandemic situation due to increase digital services offered by various companies which are essential in keeping workforces productive at home, allowing people to shop for groceries online, helping patients connect to telehealth professionals to report symptoms, access testing, and many others.
- In 2020, New Relic, Inc. announced that the results from all synthetic monitor types are now available in the new relic one. Adding results from synthetic monitors into new relic one helps users more easily to troubleshoot incidents.

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