The synthetic monitoring market size is projected to reach US$ 8.47 billion by 2031 from US$ 3.03 billion in 2023. The market is expected to register a CAGR of 13.7% in 2023–2031. The growing cloud adoption and rise in digitalization are likely to remain key to synthetic monitoring market trends.
Government support to boost the SMEs' capabilities to their business by providing financial aid, incentives, and initiatives can contribute to the adoption of software solutions such as synthetic monitoring solutions. The growing cloud market is one of the major factors driving the synthetic monitoring market as the cloud is a cost-effective solution that leads to the adoption of cloud-based Synthetic monitoring solutions by several large enterprises and SMEs, which further drives the synthetic monitoring market.
Synthetic monitoring refers to the use of software to simulate user interactions with a system. The data collected from the simulated transactions is then analyzed to determine how the system operates. For example, synthetic monitoring could be used to determine whether a website achieves the desired page load, response time, and uptime.
Synthetic monitoring solutions allow the end-user to predict how a system will respond to user requests before actual users interact with it. Synthetic monitoring allows the end-user to validate whether systems meet performance and availability requirements before going into production. In this respect, synthetic monitoring allows for proactive monitoring. Furthermore, synthetic monitoring is useful for evaluating a system's response to unusual or infrequent requests that may not be captured in data collected from transactions initiated by real users. Thus, synthetic monitoring helps to validate system performance and identify potential issues before they affect the end-user experience. Synthetic monitoring enables monitoring proactively and addresses performance and availability issues before they disrupt production applications, which helps the end-users enhance their customer experience.
Enterprises use synthetic monitoring tools to monitor enterprise applications, and they provide information about uptime and overall performance of critical business transactions by simulating several customer activities. These tools enable businesses to close performance gaps that may impact the overall end-user experience. Thus, the growing digitalization and government support for SMEs foster SMEs' capability to adopt software solutions to enhance the efficiency of their workflow. Furthermore, as the trend of digital transformation to improve overall operational efficiency and end-user experience, more SMEs will adopt synthetic monitoring solutions in the future.
Key segments that contributed to the derivation of the synthetic monitoring market analysis are ink deployment, organization size, monitoring type, and industry.
The geographic scope of the synthetic monitoring market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific region is expected to grow with the highest CAGR. The proliferation of cloud technology in the region leads to the region’s market growth. The growing SMEs in the region fuel the demand for software solutions in the region, driving the use of synthetic monitoring technology. Digital transformation in emerging economies such as India and China leads to the adoption of synthetic monitoring solutions in various end-user industries.
The regional trends and factors influencing the Synthetic Monitoring Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Synthetic Monitoring Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.03 Billion |
| Market Size by 2031 | US$ 8.47 Billion |
| Global CAGR (2023 - 2031) | 13.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Synthetic Monitoring Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Synthetic Monitoring Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Synthetic Monitoring Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
The “Synthetic Monitoring Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global synthetic monitoring market was estimated to be US$ 3.03 billion in 2023 and is expected to grow at a CAGR of 13.7% during the forecast period 2023 - 2031.
The growing cloud adoption and rise in digitalization are the major factors that propel the global synthetic monitoring market.
Adoption of AI is anticipated to play a significant role in the global synthetic monitoring market in the coming years.
The key players holding majority shares in the global synthetic monitoring market are Apica, AppDynamics LLC, Broadcom Inc., IBM Corporation, and Micro Focus.
The global synthetic monitoring market is expected to reach US$ 8.47 billion by 2031.
The incremental growth expected to be recorded for the global synthetic monitoring market during the forecast period is US$ 5.43 billion.