Market Size of Synthetic Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Synthetic Monitoring Market Analysis
The synthetic monitoring market will register a CAGR of 15.3% during the forecast period.
- Synthetic monitoring involves web browser script recordings or web transactions, wherein behavioral scripts are created to simulate a user's path on a site. It helps monitor ongoing IT service performance. Synthetic monitoring, by tracking affected user transactions, ensures that the problems and issues can be quickly identified and resolved, ideally before users complain or notice.
- Businesses worldwide have focused on enhancing the overall user experience to retain their customer base amidst high competition. This trend has been playing a significant role in driving demand for synthetic monitoring solutions.
- Active monitoring is essential in the complex infrastructure many IT teams manage, where multiple networks, providers, and applications can consume IT time and resources. Therefore, synthetic monitoring helps troubleshoot these cases, as it continuously shows IT teams what users see.
- Additionally, to meet the growing need for sophisticated user experiences, businesses are turning to synthetic monitoring for third-party components like web analytics, social networking, search engine optimization, and others.
- Moreover, the increasing use of smartphone application-based services for various purposes is anticipated to increase demand for mobile application monitoring to analyze user behavior and improve user experience, which is anticipated to benefit the market over the course of the forecast period.
- Due to high implementation costs, false positives and inaccurate alarms, a lack of real-time monitoring, difficulties with post-implementation administration, and emulator-based monitoring, managing synthetic monitoring solutions can be problematic.
- The demand for synthetic monitoring among businesses has increased during COVID-19. Due to its ability to keep up with daily operations and essential business functions, remote working is growing in popularity among large and small organizations. Lastly, to secure data and ensure a superior end-user experience, these advances have fueled a steady rise in demand for high-performance and secure deployment types over the past few months.
