Synthetic Monitoring Market Report by Type (API Monitoring, SaaS Application Monitoring, Mobile Application Monitoring, Web Application Monitoring), Services (Managed Services, Consulting Services, Implementation Services, Training and Support Services), Deployment Mode (On-premises, Cloud-based), Application (Competitive Benchmarking, Service-Level Agreements Monitoring, Application Testing, Content Delivery Network Testing, and Others), Vertical (BFSI, IT and Telecommunication, Retail, Media and Entertainment, Travel and Hospitality, and Others), and Region 2024-2032
The global synthetic monitoring market size reached US$ 1,272.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,544.8 Million by 2032, exhibiting a growth rate (CAGR) of 11.8% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1,272.5 Million
Market Forecast in 2032
US$ 3,544.8 Million
Market Growth Rate (2024-2032)
11.8%
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.
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 monitoringmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, services, deployment mode, application and vertical.
Breakup by Type:
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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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
2023
Historical Period
2018-2023
Forecast Period
2024-2032
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$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
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)
Key Questions Answered in This Report
The global synthetic monitoring market was valued at US$ 1,272.5 Million in 2023.
We expect the global synthetic monitoring market to exhibit a CAGR of 11.8% during 2024-2032.
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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