LONDON, May 30, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s IT Infrastructure Monitoring Market Report 2023, the market is expected to grow from $23.4 billion in 2022 to $24.8 billion in 2023, at a compound annual growth rate (CAGR) of more than 6%. Further, the market will reach $29.7 billion by 2027, with a CAGR of more than 4%. North America held the largest IT infrastructure monitoring market share in 2022
One of the driving factors behind the growth of the IT infrastructure monitoring industry is companies' rising adoption of cloud-based solutions. Cloud-based solutions involve the delivery of hosted services via the Internet, providing adaptable and cost-effective IT resources. Cloud computing offers quick access to IT resources without significant upfront investments in hardware or time-consuming installation and maintenance. Companies can scale their IT resources based on business demands.
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Major IT infrastructure monitoring companies CA Technologies, Splunk Inc., Nagios Enterprises LLC, AppDynamics Inc., ScienceLogic Inc., Spiceworks Inc., Datadog Inc., SevOne Inc., SolarWinds Inc., Sumo Logic, Micro Focus, ManageEngine (Zoho Corp), Cisco System Inc., Dynatrace Inc, and Pulseway.
Product innovation is a prominent trend within the IT infrastructure monitoring market, with major companies focusing on developing innovative products to strengthen their market position.
For instance, in May 2021, Splunk Inc. launched the Splunk® Observability Cloud, an enterprise-grade, full-stack, analytics-powered observability solution that consolidates metrics, traces, and logs into a single interface, enabling real-time data collection without sampling. Another notable development is the acquisition of Zebrium by ScienceLogic Inc. in October 2022. Through this acquisition, ScienceLogic enhances its AIOps capabilities with Zebrium's root-cause analysis (RCA) technology, enabling businesses to gain a comprehensive understanding of their IT estate, from endpoint devices to SaaS and cloud environments.
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The global IT infrastructure monitoring market is segmented as-
1) By Types: Bundled Software, Individual Software
2) By Deployment: Cloud It Infrastructure Monitoring, On-Premise It Infrastructure Monitoring
3) By Applications: Small And Medium Enterprises, Large Enterprises
4) By End-User Vertical: Public Sector, IT And Telecom, Healthcare, Transportation, Banking, Financial Service and Insurance (BFSI), Aerospace And Defense, Other End-User Verticals
The IT infrastructure monitoring market report is as a valuable resource for industry professionals, investors, policymakers, and other stakeholders seeking a comprehensive understanding of the global IT infrastructure monitoring market. By analyzing market size, growth rates, key players, trends, and regional dynamics, this report provides insights to make informed decisions, capitalize on emerging opportunities, and navigate the evolving landscape of the IT infrastructure monitoring industry.
IT Infrastructure Monitoring Global Market Report 2023 by The Business Research Company provides insights on the IT infrastructure monitoring market size, IT infrastructure monitoring market segments, IT infrastructure monitoring market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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