Synthetic Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Synthetic Monitoring Market is segmented by Type (API Monitoring, Website Monitoring, and Mobile Applications Monitoring), End-user Vertical (BFSI, IT and Telecommunication, Retail, Government, Manufacturing and Automotive, and Military and Defense), and Geography.

Market Snapshot

Synthetic Monitoring Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 15.2 %
Synthetic Monitoring Market Major Player

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Market Overview

The synthetic monitoring market was valued at USD 838.5 million in 2020, and it is expected to reach USD 1944.705 million by 2026, registering a CAGR of 15.2% over the forecast period 2021 - 2026.

  • Active monitoring is essential in the complex infrastructure that many IT teams are managing, where multiple networks, providers, and applications can all consume IT time and resources. Synthetic monitoring, therefore, helps troubleshoot in these cases, as it shows IT teams what users are seeing, in a continuous way.
  • Slower page response time leads to an increase in page abandonment, with around 40% of users stating that they abandon a page if it does not load within three seconds. For online retail giants, like Amazon, a similar delay would be catastrophic, resulting in estimated lost sales of USD 1.6 billion per year.
  • Google recently calculated that by slowing down the search results by just four-tenths of a second, it could lose eight million searches in a day, which would translate into a substantial reduction in revenues from online advertisements, due to reduced presence.

Scope of the Report

Synthetic monitoring tools enable an end-to-end view of a system's behavior. The major force driving this market is the growing need for monitoring and management of numerous complicated applications, with the increasing need for DevOps. In addition, the growing need for deployment of an enterprise application on third-party platforms with enhanced monitoring solutions helps to boost the adoption of synthetic monitoring solutions.

By Type
API Monitoring
Website Monitoring
Mobile Application Monitoring
By End-user Vertical
BFSI
IT and Telecommunication
Retail
Media and Entertainment
Travel and Hospitality
Other End-user Verticals
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Key Market Trends

IT and Telecommunications is Expected to Show Significant Growth

  • Effective monitoring is the key factor governing the on-premise, cloud, or hybrid infrastructure. Relying on traditional IT monitoring tools, which are not built for complex infrastructure landscape, is increasingly becoming difficult for IT managers. These are actively shifting toward synthetic monitoring solutions.
  • Active monitoring has significant importance in the complex infrastructure that many IT teams are managing, where multiple networks, providers, and applications can all consume IT time and resources. Synthetic monitoring, therefore, helps troubleshoot in these cases, as it shows IT teams what users see, in a continuous way.
  • Modernizing the services for the IT and telecom sector is an evolved approach through API management, for bridging the gap between traditional, on-premise, and cloud-based IT systems. It increases operational efficiency and effectiveness, consolidating the way data is captured, analyzed, and shared across the enterprises, along with an improved experience.
Synthetic Monitoring Market Trends

North America Accounted for a Significant Share

  • The market in North America is increasing, due to the critical need for pro-active monitoring of increasing complex applications and rising adoption of cloud-based application and DevOps application.
  • In North America, consumers are increasingly preferring online platform for varied services, even in the conventional markets, because of which, companies are focusing on improving their application management services.
  • In addition to this, owing to rise in DevOps, the region also marks a significant demand for SaaS-based applications. According to the Cisco Global Cloud Index Report, North America is expected to account for 48% of all large-scale public cloud data centers called hyperscale data centers across the world by 2021.
  • IBM recently launched the first financial services-ready public cloud of the world in collaboration with Bank of America. Under the agreement Bank of America will be a committed collaborator to use the platform and host key applications on IBM’s public cloud, to support its 66 million banking customers.
Synthetic Monitoring Market Growth

Competitive Landscape

The synthetic monitoring market is highly fragmented and the major players use various strategies, such as new product launches, agreements, expansions, joint ventures, partnerships, acquisitions, and other strategies, to increase their footprints in this market. Most businesses across the whole spectrum combine at least two or three different tools to monitor and run their IT infrastructure. The tools are usually available in three distribution models, such as SaaS, open-source software, and closed source solutions. Key players are CA Technologies, Dynatrace LLC, SmartBear Software, etc.

  • In August 2019 - SmartBear announced the acquisition of Bitbar, the provider of the global advanced mobile application test automation platform and device cloud. This transaction will help SmartBear use technologically advanced testing solutions with the existing product portfolio. This acquisition also allows SmartBear to fully embrace automation to deliver higher quality software faster.
  • In February 2020 - Dynatrace announced a partnership with the US Department of Veterans Affairs (VA) for providing the Dynatrace Software Intelligence Platform to significantly enhance enterprises' cloud visibility and support for the VA’s cloud migration efforts.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Intensity of Competitive Rivalry

      5. 4.2.5 Threat of Substitutes

    3. 4.3 Technology Snapshot

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Need for Monitoring Service Level Agreement (SLA) Targets

      2. 5.1.2 Rising Demand for Application Performance Management (APM)

    2. 5.2 Market Challenges

      1. 5.2.1 Higher Implementation Costs

      2. 5.2.2 Lack of Real-time Monitoring for End Users

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Type

      1. 6.1.1 API Monitoring

      2. 6.1.2 Website Monitoring

      3. 6.1.3 Mobile Application Monitoring

    2. 6.2 By End-user Vertical

      1. 6.2.1 BFSI

      2. 6.2.2 IT and Telecommunication

      3. 6.2.3 Retail

      4. 6.2.4 Media and Entertainment

      5. 6.2.5 Travel and Hospitality

      6. 6.2.6 Other End-user Verticals

    3. 6.3 By Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE INTELLIGENCE

    1. 7.1 Company Profiles*

      1. 7.1.1 Broadcom Inc.

      2. 7.1.2 SmartBear Software

      3. 7.1.3 Micro Focus International LLC

      4. 7.1.4 Catchpoint Systems Inc.

      5. 7.1.5 BMC Software Inc.

      6. 7.1.6 Oracle Corporation

      7. 7.1.7 IBM Corporation

      8. 7.1.8 Rigor Inc.

      9. 7.1.9 SolarWinds Inc.

      10. 7.1.10 Anokiwave Inc.

      11. 7.1.11 ThousandEyes Inc.

      12. 7.1.12 Cisco Systems Inc. (AppDynamics)

      13. 7.1.13 New Relic Inc.

      14. 7.1.14 Monitis Inc.

  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Synthetic Monitoring Market market is studied from 2018 - 2026.

The Synthetic Monitoring Market is growing at a CAGR of 15.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Broadcom Inc. (CA Technologies Inc.), Dynatrace LLC, SmartBear Software, HP Enterprise, Dell Technologies are the major companies operating in Synthetic Monitoring Market.

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