Spending in IT Infrastructure Monitoring is estimated to Grow at 13.6% by End of 2031 : PMR
NEW YORK, Aug. 16, 2021 /PRNewswire/ -- The global IT infrastructure monitoring market is estimated to accelerate a high CAGR of 13.6% over the forecast period (2021-2031). As such, the market is set to expand around 3.6X and close in on a valuation of US$ 64.5 Bn by 2031.
IT infrastructure is becoming more complex, larger, and more distributed, as many organizations are adopting advanced technologies. IT departments are upgrading existing systems to make them capable of adopting to hardware changes, support machine virtualization, and run applications across disparate data centers.
IT Infrastructure monitoring solutions help organizations meet service level agreements (SLAs). IT departments set SLAs according to the level of performance they can expect from their devices, networks, servers, and resources. Monitoring solutions help IT departments drive decision-making about resource provisioning, troubleshooting, and capacity planning.
In the recent past, companies have been offering services to a wide range of clients across different verticals using various platforms by making use of microservices to deliver data due to ease of use. Various tech players are developing remote monitoring solutions to make sure remote infrastructure is working smoothly for employees. This has led to increase in usage of IT infrastructure monitoring services across regions of the world.
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Key Takeaways from Market Study
- Demand for application performance monitoring software, among standalone software, is estimated to surge. However, endpoint management software is estimated to continue to hold a significant market share through 2031.
- The IT & telecom sector is expected to emerge as a high-growth market. However, BFSI is estimated to dominate the market share through 2031.
- By deployment, on-premise is currently leading the market. Although, demand for cloud deployment is likely to expand at a robust CAGR of nearly 15% through 2031.
- By enterprise size, large enterprises are estimated to hold substantial market share; however, demand from SMEs is expected to expand faster at a CAGR of over 14% throughout the next ten years.
- The South Asia & Pacific IT infrastructure monitoring market is expected to register a high CAGR owing to growing demand for enterprise networking from small & medium enterprises across the region.
- The market for IT infrastructure monitoring in Japan and the U.K. is expected to surge ahead at growth rates of around 15% and 16%, respectively.
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"IT Infrastructure monitoring tools provide immediate visibility into system performance, enabling users to quickly detect problems and identify trends. These tools enable faster, easier, and a more affordable way for system administrators and site engineers to identify and correct infrastructure problems," says a Persistence Market Research analyst.
Integration of Artificial Intelligence (AI) for IT Infrastructure Management & Automation to Propel Market Growth
Rapid innovations in software-defined infrastructure and cloud computing have extended IT infrastructure flexibility, intangibility, and on-demand. As the network and infrastructure complexity of an enterprise grows, it is important that the IT infrastructure adapts to cope with this growing scale.
Integration of AI makes IT infrastructure intelligent to understand the correlation between IT elements, recognizing data trends, and further taking appropriate decisions. It enables to access and manage computing resources to train, test, and deploy AI algorithms.
AI offers capabilities to actively monitor and manage the entire system, and not just securing, managing, and resolving queries about networks. Enterprises are investing more on intelligent infrastructure monitoring tools to improve cyber-security, establish automated support, and improve customer satisfaction.
All these factors are responsible for the growth of the global IT infrastructure monitoring market.
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More Valuable Insights
Persistence Market Research's report on the IT infrastructure monitoring market is segmented into five major sections – solution (software – integrated IT infrastructure monitoring platforms, standalone software (network monitoring software, server monitoring software, application performance monitoring software, endpoint management software, and others) and services – professional services (IT consulting services, integration & deployment, monitoring services, and support & maintenance) and managed IT services), deployment (cloud and on-premises), enterprise size (small & medium enterprises (SMEs) and large enterprises), industry (BFSI, IT & telecom, government & defense, retail & CPG, healthcare, energy & utilities, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the market.
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