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Aug. 20, 2021, 7:52 a.m. EDT

Synthetic Monitoring Market Growing at 11.6% CAGR to 2027 - The Insight Partners

"Synthetic Monitoring Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), Monitoring Type (API Monitoring, SaaS Application Monitoring, Mobile Application Monitoring, and Web Application Monitoring), and Industry (BFSI, Government, Retail, Healthcare, IT & Telecom, and Other Industries) "

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Aug 20, 2021 (Heraldkeepers) -- Synthetic or direct monitoring solutions are used to monitor various types of enterprise applications and their performance by simulating user actions through emulation and scripted transactions methods at regular intervals. Synthetic or direct monitoring solutions provide critical information to end users regarding enterprise applications and their performance in terms of functionality, availability, and response times. The growing adoption of digital solutions across enterprises accelerates the demand for flawless application performance system to ensure smooth user experience and prevent financial or operational loss. Any hindrance in the performance of such applications harms customer loyalty, company's brand image, and profits. Hence, the rising importance of flawless performance of various applications in digital workplaces, and increasing need for enhanced productivity and cost reduction accelerates the demand for synthetic monitoring solutions among enterprises.

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Demand for synthetic monitoring is anticipated to surge rapidly in coming years owing to the growing trend of digitalization, smart workplaces, and automation. Apica; AppDynamics; Broadcom; Dynatrace LLC; eG Innovations; IBM Corporation; Micro Focus; New Relic, Inc.; SolarWinds Worldwide, LLC; and Uptrends LLC are among the key players operating in the synthetic monitoring market, and these have been profiled during this market study.

Impact of COVID-19 Pandemic on APAC Synthetic Monitoring Market

APAC is also home to around 60% of world population that includes the two most populous countries of the world, China and India. The huge population presents many growth opportunities for companies operating in different sectors. Also, the rising penetration of consumer electronics among end users and increased demand of online media content and digital services due to ongoing COVID 19 outbreak and movement restrictions in major countries are some of the factors that are driving the demand of synthetic monitoring solutions among enterprises. These solutions allow companies to offer uninterrupted and smooth experience to their end users by identifying any issues that may impact the application performance.

Increasing adoption of cloud solutions for high scalability and flexibility is attributing to the growth of the market. Cloud computing has been driving the transformation of modern workplaces in all major industry verticals such as BFSI, IT & telecom, retail, and healthcare by enhancing security and delivering high scalability & flexibility and thus accelerating the development of innovative solutions and services for enhanced end user experience. Cloud based solutions are relevant for all types of business environments ranging from on-premise, hybrid, or cloud. In addition to this, cloud-based solutions also facilitate easy scalability, lower operating costs, high operational flexibility, faster visibility, and updates to enterprises while reducing costs and operational risks. The continuously evolving cloud architectures and integration of advanced features in cloud solutions are further fueling the adoption of these solutions in diverse end user industries.

Cloud deployment is also an attractive option for companies due to benefits such as need-basis payment, regular data backup, high security, fast updates, comparatively low capital & operations costs, and instant provisioning features provided by these solutions. Moreover, the complex and high installation & maintenance costs associated with on-premise solutions is further driving companies to adopt cloud-based solutions. Hence, scalability, high level of security, operational flexibility, easy deployment, and affordability are some of key advantages that are expected to boost the adoption of cloud-based synthetic monitoring solutions among enterprises in the coming years. With more and more companies offering cloud-based synthetic monitoring and APM solutions such as AppDynamics, Dynatrace LLC, Micro Focus, New Relic, Inc., and SolarWinds Worldwide, LLC among many others, the demand for cloud-based solutions over on-premise is projected to grow at a fast pace over the forecast period of 2020 to 2027.

Strategic Insights

Players operating in the synthetic monitoring market are mainly focused on the development of advanced and efficient products.

  • In 2020, AppDynamics' application performance management, cloud monitoring, and microservices support solutions are in the demand in ongoing COVID-19 pandemic situation due to increase digital services offered by various companies which are essential in keeping workforces productive at home, allowing people to shop for groceries online, helping patients connect to telehealth professionals to report symptoms, access testing, and many others.

  • In 2020, New Relic, Inc. announced that the results from all synthetic monitor types are now available in the new relic one. Adding results from synthetic monitors into new relic one helps users more easily to troubleshoot incidents.

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