According to report “Synthetic Monitoring Market by Monitoring Type (API Monitoring, SAAS Application, Mobile Application, and Web Application), Service (Managed and Professional), Deployment, Organization Size, Vertical – Global Forecast to 2021″, the synthetic monitoring market size is estimated to grow from USD 919.2 Million in 2016 to USD 2,109.7 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 18.1%.
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The major forces driving this market are the growing need for monitoring and management of numerous complicated applications, rising need for DevOps, and assurance of meeting the Service Level Agreements (SLA’s) . In addition, the growing need for deployment of enterprise application on third-party platforms with enhanced monitoring solutions helps to boost the adoption of enterprise synthetic application monitoring solutions.
Application Programmable Interface monitoring type is expected to grow at the highest CAGR in the synthetic monitoring market
API monitoring is instrumental in reliable monitoring and holding accountable third-party API ‘s and quickly isolate a problem of a specific third-party API’s performance and availability for application development helping to troubleshoot the performance problem of applications by providing detailed diagnostics solution. The rising adoption of API for enhanced application development with DevOps is also driving the need for API monitoring to ensure enhanced and reliable performance and availability of applications.
Professional services segment is expected to hold the largest market share in the synthetic monitoring market during the forecast period
Professional services in end-to-end monitoring involves the procedure of collection of data from multiple heterogeneous application sources to provide transaction analysis across multiple, distributed business areas. The professional services team offers comprehensive services via the latest techniques and tools, skills, knowledge, and strategies, to address the organization’s monitoring and security needs. They also offer customized implementation, risk assessment, and assist with deployment via industry-defined best practices.
North America is expected to contribute the largest market share; Asia-Pacific (APAC) to grow at the highest rate
North America is expected to hold the largest market share and dominate the synthetic monitoring market from 2016 to 2021, due to the growing adoption of emerging technologies such as DevOps, cloud computing, Software as a Service (SaaS)-based applications, and Bring Your Own Device (BYOD). This enforced the end users to adopt sophisticated synthetic monitoring solutions with innovative features such as real-time analysis, advance analytics, and log management. APAC offers potential growth opportunities for the synthetic monitoring market to grow, as countries in the region are investing heavily in the evolving advances technologies such as big data, DevOps, and Internet of Things (IoT). APAC is witnessing high adoption in this market primarily due to the awareness of the need for reliable and pro-active monitoring solutions among enterprises, especially form verticals such as Banking, Financial Services, and Insurance (BFSI), IT and telecom, and retail.
The major vendors in the synthetic monitoring market include CA Technologies, Inc. (U.S.), BMC Software, Inc. (U.S.), IBM Corporation (U.S.), Dell Technologies, Inc. (U.S.), and Dynatrace (U.S.), among others.
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