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The IT monitoring tools market size is estimated to grow at a CAGR of 30.46% between 2022 and 2027. The market size is forecast to increase by USD 47,943.34 million. The growth of the market depends on several factors, including improving the efficiency of IT operations, the emergence of algorithmic IT operations analytics, and the expansion of IoT infrastructure. IT monitoring tools are used to monitor various infrastructure and hardware components in IT installations, data centers, or cloud-hosted infrastructure. The tools are used to monitor the performance of websites, servers, networks, and application platforms.
This IT monitoring tools market report extensively covers market segmentation by product (ITOA, ITIM, and others), deployment (on-premise and cloud-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Improving the efficiency of IT operations is the key driver for the growth of the market. IT monitoring tools allow businesses to monitor the performance of critical IT infrastructure in real time, including servers, websites, and applications. Information technology monitoring tools to monitor downtime, bandwidth usage, performance metrics, hardware failures, and more. One hour of IT downtime can severely impact business profitability through loss of customers and reduced productivity. The use of monitoring tools to help businesses maintain an online presence and improve operational efficiency. The benefit that these tools bring to businesses is increasing their adoption rate among potential end users.
ITIM tools continuously monitor the availability of all connected IT infrastructure hardware hosted on-premises or in the cloud. The ITIM software also monitors the real-time availability and usage of each machine or device. The hardware devices include virtual machines, routers, network switches, processors, storage devices, databases, and hypervisors in the network. The application also identifies problems before they happen. This helps IT teams isolate failed systems and perform predictive maintenance. Thus, boosting the growth of the market during the forecast period.
The growing adoption of software-defined data centers is a primary trend in the market. A software-defined data center refers to a data center where the infrastructure is provided as a service through the virtualization of the physical infrastructure. SDDC has three components such as software-defined networking (SDN), software-defined computing (SDC), and software-defined storage (SDS). Enterprises adopting cloud-based infrastructure are looking at the possibility of setting up SDDC to gain greater control over critical business operations and improve the management of their data center facilities.
Moreover, SDN implementations also offer key benefits for players, such as lower hardware costs, faster provisioning, protection against network failures, and the ability to easily allocate bandwidth on demand across the network. Many colocation providers, such as Digital Realty Trust, CyrusOne, and Equinix, provide connectivity to cloud platforms, such as AWS, Microsoft Azure, and Google Cloud, using a support network. SDN support network.
The limited scalability of currently available tools is a challenge that affects market growth. The amount of hardware, IT infrastructure monitoring software, and network components connected to a network continue to increase as an organization grows. However, only a limited number of information technology monitoring tools are capable of auto-adapting and supporting the expanding network infrastructure. Extensive computer networks require distributed computing, distributed data management, storage technology, and a variety of parallel computing capabilities.
However, very few monitoring tools are capable of taking full advantage of these technologies. This limits the establishment of an effective IT monitoring system. Legacy information technology monitoring tools and systems cannot handle the extreme volumes of data and metrics that are required to operate IT infrastructure correctly and efficiently. This requires the development of new monitoring tools based on an extensible system architecture. Hence, these factors will affect the growth of the market during the forecast period.
The market share growth by the ITOA segment will be significant during the forecast period. ITOA tools are used to monitor various IT activities to collect statistics and analyze data. The insights gained will help to make data-driven decisions and predict possible causes of errors and performance bottlenecks. Information collected and obtained by ITOA is sent to the IT operations management (ITOM) team for troubleshooting or to an automated ITOM toolkit for diagnostics.
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The ITOA segment was valued at USD 3,497.57 million in 2017 and continued to grow until 2021. The increasing complexity of business processes is driving organizations to automate their ITOA tools. These tools can automatically learn and apply solutions to IT operating problems. Natural language processing and machine learning algorithms should be fully integrated into ITOA tools. ITOA tools will also benefit from the development of algorithmic computing tools that will facilitate the integration of different IT infrastructure monitoring software and hardware platforms. This will allow ITOA to easily manage a multi-players network of devices. Hence, these factors drive the market growth during the forecast period.
The main reason for adopting the on-premise deployment model is that it provides better security than the cloud-based deployment model. On-premises provides good control and information security. In on-premises deployment, data is accessible only through dedicated servers for customers, while in cloud-based deployment, data is accessible through multiple points. Several small and medium-scale healthcare organizations are adopting cloud-based IT monitoring tools. Some of the Downsides of the On-premises IT monitoring tool market include updating IT infrastructure monitoring software is difficult and time-consuming, and lack of flexibility in restructuring solutions Hence, due to these disadvantages, the on-premise segment of the market will grow at a moderate rate during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada hold the highest share of the regional market. The US is a major hub for hosting large-scale server installations and data centers. The use of on-premises servers and digital IT infrastructure in SMEs is also common in the US, further supporting the growth of the regional market.
Furthermore, as enterprise end-users move from dedicated on-premises IT solutions to cloud and hybrid infrastructures, demand for IT infrastructure monitoring software as a service (SaaS) or cloud-based monitoring tools will also increase. Many companies still operate their operations on legacy IT infrastructure, and monitoring solutions should also upgrade their hardware/software to hybrid or cloud-based systems. This transformation will drive the growth of the IT monitoring tools market in North America during the forecast period.
The COVID-19 pandemic had a significant impact on the US economy and other countries in this region in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and resulted in the reopening of IT firms and the implementation of social distancing measures. This will fuel the adoption of IT monitoring tools by several IT companies in the region during the forecast period.
The IT Monitoring Tools Market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global IT Monitoring Tools Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BMC Software Inc.: The company offers IT monitoring tools such as System monitoring, Dependency monitoring, Integrated and API monitoring.
Broadcom Inc.: The company offers IT monitoring tools such as DX Virtual Network Assurance.
Circonus Inc.: The company offers IT monitoring solution for modern day enterprise that delivers crystal clear and real time observability of the behavior
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The it monitoring tools market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
IT Monitoring Tools Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 30.46% |
Market growth 2023-2027 |
USD 47,943.34 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
29.62 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
BMC Software Inc., Broadcom Inc., Circonus Inc., Datadog Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., ITRS Group Ltd., Microsoft Corp., Nagios Enterprises LLC., NetScout Systems Inc., New Relic Inc., Open Text Corp., Paessler AG, SAS Institute Inc., SolarWinds Corp., Splunk Inc., VMware Inc., Zabbix LLC., Zenoss Inc., and Zoho Corp. Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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