Monitoring Tools Market to Reach $140.4 Billion, Globally, by 2032 at 20.1% CAGR: Allied Market Research
NEW CASTLE, Del., Sept. 16, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Monitoring Tools Market by Component (Software and Services), Deployment (Cloud and On-Premises), Type (Infrastructure Monitoring Tools, Application Performance Monitoring Tools, Security Monitoring Tools and End-user Experience Monitoring Tools), and Vertical (BFSI, Retail & E-commerce, Healthcare, IT & Telecom, Media & Entertainment, Manufacturing and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the monitoring tools market was valued at $26.5 billion in 2023, and is estimated to reach $140.4 billion by 2032, growing at a CAGR of 20.1% from 2024 to 2032.
- By deployment, the cloud segment is projected to attain the fastest growing segment from 2023 to 2032, owing to the surge in adoption of cloud computing, and the need for scalable and flexible monitoring solutions.
- The benefits of cloud-based deployment such as ease of access and reduced infrastructure costs are driving the segment growth.
- North America led the market share in 2023, owing to the advanced technological infrastructure, high adoption of cloud services, and significant investment in cybersecurity.
- In addition, the presence of major market players and the increase in demand for sophisticated monitoring solutions across various industries contribute to North America's dominance in the monitoring tools market.