Global Cloud Monitoring Market By Type (Public Cloud Monitoring, Private Cloud Monitoring, Hybrid Cloud Monitoring), By Application (Infrastructure as a Service (IaaS) Monitoring, Platform as a Servic...

The global cloud monitoring market includes overseeing and managing the availability, performance, and security of cloud-based application services and infrastructure. It also includes reviewing the operational workflow of a cloud-based IT infrastructure. Cloud monitoring can be used at various levels for manual use of automated item monitoring in management techniques. Essentially, it helps in tracking performance, security, and compliance of cloud applications and services. The market is expected to witness substantial growth over the coming years, fueled by advancements in cloud technology and the increasing complexity of IT environments. 

The global cloud monitoring market size was valued at USD 2.19 billion in 2023 and is projected to reach USD 13.59 billion by 2031, exhibiting a CAGR of 22.6% from  2023-2031. The COVID-19 pandemic significantly impacted the global cloud monitoring market with the increase in remote work leading to an increasing adoption of cloud-based services. This in turn has led to the need for cloud monitoring tools that will manage the security, availability and reliability of cloud-based applications.

Premium Insights:

• Innovations in artificial intelligence (AI), machine learning (ML), and big data analytics are enhancing cloud monitoring solutions, making them more efficient and capable of handling complex cloud environments.

• Key industries such as IT and telecom, BFSI (banking, financial services and insurance), healthcare and retail are increasingly adopting cloud monitoring solutions to ensure optimal performance and security of their cloud infrastructure.

Global Cloud Monitoring Market Dynamics:

Drivers: Increasing cloud adoption, need for enhanced security, compliance requirements

-The rapid adoption of cloud computing technologies across various industries is a major driver for the cloud monitoring market. Organizations are increasingly moving their operations to the cloud to achieve scalability, cost-efficiency, and flexibility.

-With the growing number of cyber threats and data breaches, there is a heightened need for robust cloud monitoring solutions that can provide real-time security monitoring and threat detection.

-Stringent regulatory and compliance requirements in various industries necessitate effective cloud monitoring solutions to ensure adherence to standards and avoid penalties.

Restraints: High implementation costs, complexity of integration, data privacy concerns

-The initial cost of implementing cloud monitoring solutions can be high, particularly for small and medium-sized enterprises (SMEs), which may hinder market growth.

-Integrating cloud monitoring solutions with existing IT infrastructure can be complex and time-consuming, posing a challenge for organizations.

-The use of cloud monitoring solutions involves the collection and analysis of large amounts of data, raising concerns about data privacy and security.

Opportunities: AI and ML integration, emerging markets, hybrid cloud environments

-The integration of AI and ML into cloud monitoring solutions offers opportunities for enhanced predictive analytics, automated issue resolution, and improved decision-making.

-There is significant growth potential in emerging markets where cloud adoption is increasing, and businesses are recognizing the importance of effective cloud monitoring.

-The growing adoption of hybrid cloud environments presents opportunities for cloud monitoring solutions that can seamlessly manage and monitor resources across multiple cloud platforms.

Market by Global Cloud Monitoring Market Segment Insights:

Based on deployment mode, the market is divided into public cloud, private cloud and hybrid cloud. Hybrid cloud monitoring services are gaining traction due to the increased adoption of hybrid cloud environments.

Based on service models, the market is divided into Infrastructure-as-a-service (IaaS), Software-as-a-Service (SaaS), and Platform-as-a-Service (PaaS). The Software-as-a-Service (SaaS) segment is projected to dominate the market during the forecast period owing to the growing adoptions of SaaS applications such as human capital management, enterprise resource management customer relationship management and other such in large enterprises.

Market by End-Use Insights

Based on end-users the market is segmented into IT and Telecom, BFSI, Healthcare and Retail, of which the IT and Telecom segment is deemed to be the largest end-user of cloud-monitoring solutions driven by the need to manage complex cloud environments and ensure high-performance and security.

Market By Region Insights:

Based on regional coverage, the global cloud-monitoring market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. The market in Asia Pacific is expected to witness the fastest growth even though North America leads with its largest market share, driven by the presence of major cloud service providers, high adoption rates of cloud technologies and the need for robust cloud monitoring solutions.

Competitive Scenario:

Major players in the market are Amazon Webb Services, Inc., Zenoss, Inc., Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and LogicMonitor, Inc.

Scope of Work-Global Cloud-monitoring Market

Key Market Developments

• June 2022- Expanding its offering of cloud-based management solutions, Cisco added Nexus data centres and Catalyst campus switches and introduced a cloud-native version of the AppDynamics application performance monitor.

  
  

• April 2023- Sumo Logic, a software-as-a-service (SaaS) analytics platform enabling dependable and secure cloud-native applications, announced that it had earned the Amazon Web Services (AWS) cloud operations competency in monitoring and observability. Sumo Logic has proven competence in assisting customers in establishing a robust and scalable foundation for end-to-end cloud operations as an AWS cloud operations competency partner.

  
  

• September 2023- Cisco acquired Splunk for USD 28 billion to enhance its security and application resilience portfolio. Splunk’s cloud monitoring and accident management capabilities highlighted Cisco’s strategy, offering leading security analytics across applications, devices and clouds.

Frequently Asked Questions (FAQs)

1. What are the main drivers of the cloud-monitoring market?

Ans. The key drivers include increasing cloud adoption, the need for enhanced security, and compliance requirements.

2. What are the primary challenges faced by the cloud-monitoring market?

Ans. Challenges include high implementation costs, complexity of integration, data privacy concerns.

3. Who are the major players in the cloud-monitoring market?

Ans. Major players include Amazon Webb Services, Inc., Zenoss, Inc., Oracle Corporation, Microsoft Corporation, International Business Machines Corporation and LogicMonitor, Inc.

4. What opportunities exist in the motorhome market?

Ans. Opportunities include AI and ML integration, emerging markets that create the need for cloud-monitoring solutions, and hybrid cloud environments.