According to a new report, published by KBV research, The Global Monitoring Tools Market size is expected to reach $92.5 billion by 2030, rising at a market growth of 21.4% CAGR during the forecast period.
The Software segment would showcase a CAGR of 20.6 % during the forecast period. The segment of the software market for monitoring tools is expanding rapidly due to several key factors like increasing demand for monitoring tools among numerous sectors. Businesses are using these tools to track performance, availability, and security across systems, networks, apps, and cloud services to address the growing complexity of their IT infrastructure.
The Infrastructure Monitoring segment is leading the Global Monitoring Tools Market by Type in 2022; thereby, achieving a market value of $36.3 billion by 2030. The infrastructure monitoring tools segment is essential in determining the primary cause of site errors. The booming IT and telecom sectors may considerably impact on the market segment's potential for growth.
The IT & ITeS segment is registering a CAGR of 18.9 % during the forecast period. The IT and ITeS segment comprise IT solutions and service providers regarded as early adopters of cutting-edge technologies. Cybercriminals target IT and ITeS companies extensively. Due to the massive amount of daily information, the IT and ITeS vertical requires the log management solution on a broad scale.
The North America region dominated the Global Monitoring Tools Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $32.1 billion by 2030. The Europe market is anticipated to grow at a CAGR of 21% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 22.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/monitoring-tools-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, Google LLC (Alphabet, Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), IBM Corporation, Cisco Systems, Inc., Dynatrace, Inc., Splunk, Inc., SolarWinds Corporation, Nagios Enterprises LLC and Paessler AG.
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