Global Unified Monitoring Market 2023 - 2028: Potential Demand from Applications in Dynamic IT Environment Fuels the Sector

Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Global Unified Monitoring Market 2023-2028 by Component, Deployment, Industry, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The global unified monitoring market is estimated to be USD 5.94 Bn in 2023 and is expected to reach USD 18.62 Bn by 2028, growing at a CAGR of 25.67%.

Unified monitoring is a centralized approach to monitoring various system, network, or applications aspects. Unified monitoring provides a single view of the entire IT infrastructure, Including hardware, software, cloud services, and applications.

It is used for several purposes: performance monitoring, availability monitoring, Capacity planning, Troubleshooting, and Security monitoring. It provides a holistic approach to IT monitoring, allowing organizations to proactively manage their IT infrastructure and deliver high-quality services to end-users.

Factors such as increasing government initiatives and investments for digitization, the growing need for efficient management of security, and potential demand from applications in a dynamic environment drive the demand for the Unified monitoring market. According to AAG IT Services, cyber-attacks globally increased by 125% through 2021, and increasing cyber-attacks will continue to threaten businesses and individuals in 2022.

This cyber-attack was increased due to Russia's invasion of Ukraine. With the widespread use of technology and the internet, cybercriminals can exploit more targets. Organizations face the arduous task of keeping their systems secure from cyber-attack. Hence, they prefeed to use BYOD and migrate to the cloud. Unified monitoring brings all these functionalities into a single pane of glass by creating a centralized yet wider picture of an organization's IT environment; it helps to provide real-time feeds and alerts cross-network, applications, infrastructure, and cyber threats.

Moreover, AI and ML technologies are increasingly being integrated into unified monitoring tools to help automate tasks and provide more accurate monitoring data analysis. Many unified monitoring tools are now being designed to integrate with DevOps tools and workflows, providing a more streamlined process for monitoring and resolving issues; such technological advancements are helping to make unified monitoring more practical, providing organizations with greater visibility into their IT infrastructure and helping to optimize system performance and reduce downtime, this will create an opportunity for the market.

However, the Lack of an organization's compatibility in unified monitoring refers to the situation where different IT systems, applications, or services are not designed to work seamlessly with each other when using a unified monitoring tool. This can happen when the monitoring tool cannot integrate with all the different systems or the data being monitored is not standardized, leading to discrepancies and inconsistencies in the monitoring data.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Unified Monitoring Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Unified Monitoring Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Unified Monitoring Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Key Attributes:

Market Dynamics

Drivers

• Increasing Government Initiatives and Investments for Digitization
• Growing Need for Efficiently Management of Security
• Potential Demand from applications in Dynamic IT Environment

Restraints

• Lack of Organization's Compatibility and Resistance to Adopt Modern Technologies

Opportunities

• Technological Advances in Unified Monitoring
• Increasing Adoption by SMEs

Challenges

• Problems With Data Integration

Companies Mentioned

• 8x8, Inc.
• Acronis International GmbH
• AppDynamics Inc.
• AT&T Inc.
• Broadcom Inc.
• CloudAware (Salesforce.com, Inc.)
• Dynatrace LLC
• GroundWork Open Source, Inc.
• Huawei Technologies Co., Ltd.
• IBM Corp.
• Juniper Networks Inc.
• Opsview Ltd.
• Paessler Ag
• ScienceLogic, Inc.
• SolarWinds Inc.
• Verizon Enterprise Solutions LLC
• Zenoss Inc.
• Zoho Corp.

Market Segmentation

Global Unified Monitoring Market is segmented based on Component, Deployment, Industry, and Geography.

• By Component, the market is classified into Service and Solution.

The solution segment is further divided into applications Monitoring, Cloud Monitoring, IT Infrastructure Monitoring, and Virtual Environment Monitoring. Cloud monitoring involves monitoring cloud services, applications, and infrastructure components such as servers, storage, and networks. The monitoring process involves collecting data and metrics from various sources and analyzing them to identify issues and potential problems.

• By Deployment, the market is classified into On-Cloud and On-Premises.

The demand for On-Cloud deployment mode is increasing in the forecasted period. Cloud-based monitoring is becoming more popular as organizations shift their infrastructure to the cloud. The cloud can help improve the efficiency, security, and reliability of cloud infrastructure and reduce management complexity and costs; due to this, demand for On-Cloud is increasing.

• By Industry, the market is classified into BFSI, Consumer Goods & Retail, Healthcare & Life Sciences, IT & Telecommunication, Manufacturing, and Transportation & Logistics.

BFSI (Banking, Financial Services, and Insurance) organizations are among the most critical users of unified monitoring tools. BFSI organizations rely heavily on IT systems to process transactions, manage customer data, and ensure regulatory compliance. Any downtime or performance issues can have serious consequences, including financial losses, reputational damage, and legal liability; BFSI used Unified Monitoring devices to protect such data.

• By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.

America is predicted to remain the dominant market for the forecast period, owing to the rapid technological advancements and its widespread use in various sectors like healthcare, education, and telecom. Moreover, the growth in data centers to cater to the rising demand for servers and storage space, along with the surging costs of resources, is further expected to propel the market growth. The region's increasing investment in smart city projects is also anticipated to contribute to the growth of the market. Overall, these factors are expected to drive the growth of the market in America.

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