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Synthetic Monitoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A4893
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Market Overview:
The global synthetic monitoring market size reached US$ 1,119 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,562 Million by 2028, exhibiting a growth rate (CAGR) of 13.7% during 2023-2028.
Synthetic monitoring helps evaluate performance of an application using scripted recordings of a series of requests and emulating them to simulate a user’s interactions with websites or applications. It involves running constant tests to provide in-depth insights into business transactions, application availability and website speed. It can automatically keep tabs on application uptime and monitor application programming interface (APIs) and applications at any frequency and location. As a result, organizations worldwide are adopting synthetic monitoring into their core business processes to help understand customer experience and improve website performance using predictive behavior.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Synthetic Monitoring Market Trends:
Technical issues like poor coding, incompatible browser, and delays in loading are usually faced by customers during online website browsing. As these issues can damage brand reputation and impact sales, the increasing use of online shopping applications among the masses represents one of the key factors impelling the market growth. Synthetic monitoring assists enterprises in simulating real user interactions, providing 24×7 alerts about website glitches, and detecting specific elements, such as uniform resource locator (URL) redirects and status codes. Apart from this, as traditional information technology (IT) monitoring tools fail in supporting the current complex infrastructure requirements of businesses, there is a rise in the need for synthetic monitoring solutions across the globe. This can also be accredited to the rapid digitization of business processes using the cloud on account of the economic and business challenges posed by the coronavirus disease (COVID-19) outbreak. Furthermore, the growing reliance on online banking apps is driving the usage of synthetic monitoring solutions in the banking, financial services, and insurance (BFSI) sector to counter challenges, such as net banking outages.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global synthetic monitoring market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, services, deployment mode, application and vertical.
Breakup by Type:
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- API Monitoring
- SaaS Application Monitoring
- Mobile Application Monitoring
- Web Application Monitoring
Breakup by Services:
- Managed Services
- Consulting Services
- Implementation Services
- Training and Support Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Application:
- Competitive Benchmarking
- Service-Level Agreements Monitoring
- Application Testing
- Content Delivery Network Testing
- Others
Breakup by Vertical:
- BFSI
- IT and Telecommunication
- Retail
- Media and Entertainment
- Travel and Hospitality
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BMC Software Inc., Broadcom Inc., Catchpoint Systems Inc., Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Micro Focus International plc, Microsoft Corporation, New Relic Inc., Riverbed Technology Inc. and Splunk Inc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Million |
| Segment Coverage | Type, Services, Deployment Mode, Application, Vertical, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | BMC Software Inc., Broadcom Inc., Catchpoint Systems Inc., Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Micro Focus International plc, Microsoft Corporation, New Relic Inc., Riverbed Technology Inc. and Splunk Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global synthetic monitoring market was valued at US$ 1,119 Million in 2022.
We expect the global synthetic monitoring market to exhibit a CAGR of 13.7% during 2023-2028.
The rising consumer inclination towards online banking applications, along with the growing utilization of synthetic monitoring solutions across the Banking, Financial Services, and Insurance (BFSI) sector to counter challenges, is primarily driving the global synthetic monitoring market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of synthetic monitoring across various organizations to enhance customer experience and improve website performance, during the remote working scenario.
Based on the type, the global synthetic monitoring market can be categorized into API monitoring, SaaS application monitoring, mobile application monitoring, and web application monitoring. Currently, API monitoring accounts for the majority of the global market share.
Based on the application, the global synthetic monitoring market has been segregated into competitive benchmarking, service-level agreements monitoring, application testing, content delivery network testing, and others. Among these, application testing currently holds the largest market share.
Based on the vertical, the global synthetic monitoring market can be bifurcated into BFSI, IT and telecommunication, retail, media and entertainment, travel and hospitality, and others. Currently, the IT and telecommunication sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global synthetic monitoring market include BMC Software Inc., Broadcom Inc., Catchpoint Systems Inc., Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Micro Focus International plc, Microsoft Corporation, New Relic Inc., Riverbed Technology Inc., and Splunk Inc.
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