Unified Monitoring Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Unified Monitoring Market Analysis
The unified monitoring market was valued at USD 3.73 billion in 2022 and is expected to reach USD 10.89 billion by 2027, at a CAGR of 19.56% over the forecast period 2022 - 2027. The increasing investment in IT infrastructure development and the growing demand for a single monitoring tool that will reduce cost, increase employee productivity, and enhance the customer buying experience are some of the major factors driving the growth of the unified monitoring market.
- Growing demand for Digital Age Networking that enables enterprises to move toward digital transformation and generate new business outcomes by leveraging new digital age technologies such as the Internet of Things (IoT), cloud, and Artificial Intelligence (AI) is expected to drive the market.
- According to the report, 70% of companies either have a digital transformation strategy or are working on it, and 21% of companies perceive that they have already completed the digital transformation. Around 40% of all technology spending in 2021 is expected to go toward digital transformation.
- Moreover, increasing emphasis on customer experience by the enterprise to grow the business is also compelling the market. The unified monitoring tools help companies to deliver an optimal customer experience by monitoring the availability and performance of all their services, applications, and technologies. It was also found that companies that earn USD 1 billion annually can expect to earn, on average, an additional USD 700 million within three years of investing in customer experience. Additionally, companies using SaaS apps, in particular, can expect to increase revenue by USD 1 billion.
- With the spread of COVID-19 across the globe, industries and their IT infrastructure has been tested for new challenges. The new work-from-home norm has exposed the end-user to new challenges where a single solution is not the efficient solution and has resulted in a silo-based approach for monitoring being no longer sufficient to use, in which each technology tier was monitored independently by a different tool. The market is expected to experience new capabilities being integrated into existing solutions to address emerging needs. They indicate the preparedness of vendors to meet evolving needs.
- Furthermore, during the COVID-19 coronavirus pandemic, most consumers relied on digital banking, and cyberattacks targeting the financial services sector increased dramatically. According to the VMware Carbon Black Threat Analysis Unit, cyberattacks rose by 38% between February and March 2020. Attackers use COVID-19 to launch phishing attacks, trojans, backdoors, crypto miners, botnets, and ransomware. As a result, increased vigilance and visibility into enterprise-wide endpoint activity are more important than ever. Financial institutions are investing heavily to update their networking solutions, which will drive the market.
Unified Monitoring Industry Segments
Unified monitoring is an integrated platform that aids organizations in monitoring their entire IT infrastructure, including applications, databases, networks, virtual infrastructures, security systems, and special-purpose devices. These platforms combine monitoring data from multiple tools for a complete picture of the availability and performance of the entire IT infrastructure. It has an intuitive layer of model dashboards and provides the diagnostics and actionable insight needed to troubleshoot issues. The platform's key features are user interface (dashboard), intelligent monitoring, reporting, and alerting capabilities, which run on machine learning algorithms.
The scope of this report includes all the unified monitoring solutions and services that are used by an organization to monitor IT infrastructure to reduce service outages and increase end-user and IT productivity.
|By End-user Vertical|
|Healthcare and Life Sciences|
|IT & Telecommunication|
|Other End-user Vertical|
|Middle East and Africa|
Unified Monitoring Market Trends
This section covers the major market trends shaping the Unified Monitoring Market according to our research experts:
BFSI Sector Will Experience Significant Growth and Drive the Market
- The banking, financial services, and insurance companies (BFSI) demand an IT infrastructure that is available 24X7x365 days and meets rigorous internal and external service level requirements. As the segment majorly deals with end customers, who contribute to companies’ revenue, an enterprise needs to ensure that the end-user applications and business services are monitored with a robust IT infrastructure management tool that supports business-critical availability and performance, thus posing a huge dependency on unified monitoring tools.
- Additionally, the BFSI sector faces major cyberattacks. According to the report, financial firms are 300 times more likely than other institutions to experience cyberattacks and thus require a hypervigilant security system and continuous monitoring. In 2021, Mastercard reported over 38,000 intrusion attempts each day, which increased by 60% compared to the previous year.
- Further, during the Covid-19 coronavirus pandemic, most users rely on digital banking, and there has been a sudden increase in cyberattacks targeting the financial services sector. According to the VMware Carbon Black Threat Analysis Unit, cyberattacks spiked by 47% between 2021-2022. Attackers are using phishing attacks, trojans, backdoors, crypto miners, botnets, and ransomware, so increased vigilance and visibility into enterprise-wide endpoint activity are more paramount than ever; financial institutions are investing heavily to update their networking solutions which are expected to drive the market.
- Moreover, these organizations are geographically distributed and deal with different technologies, from legacy systems to hybrid cloud-based solutions. Hence, there is tremendous pressure on such financial organizations to monitor all the components with real-time data, simultaneously maintaining security.
- In significant companies, automated remediation of non-compliant endpoints could include patching the system, enabling an antivirus tool and making sure it is up to date on patterns, emailing IT about unauthorized access, and much more solutions to meet consumer demand and reinforcing their position. In August 2022, Syxsense, a global leader in Unified Security and Endpoint Management solutions, today announced Syxsense Zero Trust, a new module within Syxsense Enterprise that enables endpoint compliance with Zero Trust Network Access policies (ZTNA). Zero Trust initiatives require a hyper-focus on endpoint protection, but traditional authentication solutions lack the ability to evaluate device health, ensure granular policy compliance, and automate risk remediation.
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North America is Expected to Experience Significant Growth
- North America is expected to dominate the market throughout the forecast period due to rapid technological advancements and its penetration in various sectors such as education, healthcare, telecom, etc., development of data centers to meet the growing demand for servers and storage space, increasing cost of resources and rising investment in smart cities projects which are expected to drive the growth in North America.
- Most of enterprises with IT landscapes are featuring numerous software layers from multiple vendors, and thus there are rising support expectations from the users' side which is fueling the dependency on unified monitoring capabilities for automatically discovering all of the active software resources in the environment including end-user client applications, and application servers with business logic.
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Unified Monitoring Market Competitor Analysis
The unified monitoring market is competitive and is dominated by a few major players like Dynatrace LLC, Zoho Corporation, AppDynamics Inc., Broadcom Inc., and Zenoss Inc. These major players, with a prominent share in the market, is focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
- August 2022 - Trend Micro the global leader in cybersecurity, recently announced the launch of Trend Micro One, a new unified cybersecurity and attack surface management platform. This launch is a major step towards consolidating a multitude of security products and features in a single platform, enabling customers to understand better, communicate, and mitigate cyber risks.
- July 2022 - Mindtree, global technology services and digital transformation company, today announced that it has partnered with Rubrik, the Zero Trust Data Securit Company, to launch a unified cyber-recovery platform named MINDTREE VAULT. It enables organizations to work through the full scope of recovery by empowering them to quickly shift to data-driven models, ensure data is immutable, and enhance their ability to guard against cyberattacks and swiftly recover from them.
Unified Monitoring Market Top Players
*Disclaimer: Major Players sorted in no particular order
Unified Monitoring Market Recent Developments
- July 2022 - New Relic Launches Agentless Monitoring for SAP® Solutions, the industry’s first native observability solution delivered agentless for enterprises running critical business processes on SAP systems. The solution empowers IT teams to better support business operations by harnessing existing SAP data sources to access all necessary telemetry data. It also avoids installing intrusive monitoring agents in SAP production servers or relying on third-party connectors.
- September 2022 - Riverbed Launches First Cloud Service As Part Of Unified Observability Push in Cloud-native SaaS service Alluvio IQ. It will inject more automation and visibility into the increasingly complex network, including remote and hybrid work environments, to help free up IT teams to work on more strategic IT initiatives when IT resources are being stretched thin.
Unified Monitoring Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapid Adoption for Networking Solutions by Enterprises
4.2.2 Increasing Cyber Safety and Security Concerns Among Organisations
4.3 Market Restraints
4.3.1 Uncertain Regulatory Standards and Frameworks
4.4 Market Opportunities
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19
5. MARKET SEGMENTATION
5.1 By Component
5.2 By Deployment
5.3 By End-user Vertical
5.3.2 Healthcare and Life Sciences
5.3.4 IT & Telecommunication
5.3.6 Other End-user Vertical
5.4 By Geography
5.4.1 North America
5.4.4 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Dynatrace LLC
6.1.2 Zoho Corporation
6.1.3 AppDynamics Inc.
6.1.4 Broadcom Inc.
6.1.5 Zenoss Inc.
6.1.6 GroundWork Open Source, Inc.
6.1.7 Acronis International GmbH
6.1.8 Paessler AG
6.1.9 Opsview Limited
6.1.10 Juniper Networks Inc.
6.1.11 Verizon Enterprise Solutions LLC
7. FUTURE OUTLOOK OF THE MARKET
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Unified Monitoring Market Research FAQs
What is the study period of this market?
The Unified Monitoring Market is studied from 2018 - 2028.
What is the growth rate of Unified Monitoring Market?
The Unified Monitoring Market is growing at a CAGR of 19.56% over the next 5 years.
Which region has highest growth rate in Unified Monitoring Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Unified Monitoring Market?
North America holds highest share in 2021.
Who are the key players in Unified Monitoring Market?
Dynatrace LLC, Zoho Corporation, AppDynamics Inc., Zenoss Inc., Broadcom Inc. are the major companies operating in Unified Monitoring Market.
Unified Monitoring Industry Reports
In-depth industry statistics and market share insights of the Unified Monitoring sector for 2020, 2021, and 2022. The Unified Monitoring research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Unified Monitoring report PDF.