Cloud Monitoring Market Overview
Cloud monitoring market is gaining traction across the globe due to the increase in IT industries that are switching to cloud services. It finds application in areas like, BFSI, retail and consumer goods, media and entertainment, and manufacturing. The rising number of security threats and data breaches are propelling the adoption of such solutions. It provides enhanced security capabilities and insights that help to proficiently detect and prevent vulnerabilities. This is further amplifying the demand for these solutions among the end-users.
On the basis of component, the cloud monitoring market is categorized into solutions and services. Services are further classified into integration and deployment, support and maintenance, and training and consulting. Of them, the demand for support and maintenance is growing due to the increase in deployment of these solutions.
Cloud monitoring market is categorized on the basis of deployment models which includes software as a service (SaaS), platform as a service (PaaS) and infrastructure as a service (IaaS). IaaS is expected to continue generating the largest revenue in coming years as it is capable of generating larger amount of processor load and network usage. Therefore, instead of buying hardware, users can buy IaaS as per their need, which is augmenting the demand for IaaS deployments However, the market for SaaS based deployment is expected to witness the highest growth, during the forecast period.
In terms of geography, Asia Pacific is expected to register the fastest growth in the cloud monitoring market, during the forecast period due to the increasing awareness and adoption of cloud-based services in the region. North America is expected to generate the largest revenue during the forecast period due to the growing adoption of cloud-based services in small and medium enterprises (SMEs) and large enterprises.
Cloud monitoring market dynamics
Increased adoption of cloud-based technology in various industries including BFSI, healthcare, and IT which boosts the growth of cloud monitoring market. The constant technological advancement in the monitoring technology are some of the major drivers for the market. Limited visibility, high technological expertise and high costs are some of the factors restraining the market growth.
With the increase in the size of data sets the need to manage and monitor them becomes prevalent. Data driven companies need solutions that are scalable, flexible and can monitor their data at an affordable cost. This need for cloud monitoring services is driving the market. The cloud services are maintained and serviced by the cloud vendors. This is advantageous for large enterprises as they can engage their employees in some other productive tasks. This increases the adoption of cloud services in large sized enterprises. With the increasing deployment of cloud services, the need to monitor them also rises. The large-scale adoption of cost-effective cloud-based solutions is also driving the cloud monitoring market.
The growing demand for Internet of things (IoT) technology and growing complexities in monitoring databases is expected to provide opportunities for cloud monitoring market during the forecast period. Clouds shifting to HTML5 clients have increased system complexities with increased processing and computing on the client side. Older applications were working on the server side so it was easy to monitor them. With more adoption of HTML5 newer tools need to be designed. Emergence of such new tools will offer growth opportunities to the market.
The demand for flexible, scalable, and convenient solutions for large enterprises compels service providers to come up with new technologies and offer innovative solutions. Hence, the cloud monitoring market for large enterprises are expected to register faster growth in cloud monitoring market during the forecast period. The use of hybrid cloud is increasing, therefore more organizations are moving towards cloud monitoring as a service to monitor performance across the multiple suppliers that will now be interdependent and critical, to an organization’s IT service delivery.
Customers does not completely rely on cloud services with their work loads. Therefore, vendors are developing tools that can monitor both cloud and on-premise environments of the companies. For example, in 2015 Oracle designed a cloud service with extensive machine-learning-based tools 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.
The customers in the cloud monitoring market have concerns related to limited cloud visibility. Due to virtualization, workstations, servers and other systems are made independent of the physical hardware which makes it difficult to monitor it. For example, application owners do not have access to hypervisor layer.
Different monitoring tools are required to monitor it, which may prevent the end-users from adopting these solutions as they do not provide full monitoring solutions. Also, such service requires public network connection which might pose a threat as a public network connection, have a wider attack surface. An in-house network monitoring solution can be isolated from a public network.
High costs associated with these services restrain the adoption in various sectors. High technological expertise required for the proper functioning of cloud-based monitoring services is one of the factors that hold down this market.
Cloud monitoring market competitive landscape
Some of the key players operating in the cloud monitoring market include CA Technologies, SolarWinds Worldwide, LLC., Dynatrace LLC., IDERA, Inc., SevOne Inc., Cloudyn, Zenoss Inc., Datadog, Inc., Kaseya Limited, LogicMonitor, Inc., and Opsview Ltd.