The new report by Expert Market Research titled, ‘Global Synthetic Monitoring Market Trends, Size, Share, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global synthetic monitoring market assessing the market based on type, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Market Overview (2028-2028)
- Historical Market Size (2020): USD 830 million
- Forecast CAGR (2023-2028): 15.3%
- Forecast Market Size (2027): USD 1950 million
The website monitoring segment, by type, holds a major proportion of the market and is expected to rise steadily throughout the forecast period. The increase in internet traffic of e-commerce, educational, and brochure and catalogue websites, among others, can be ascribed to the segment’s expansion.
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A business can benefit from website monitoring since it allows them to monitor website traffic and assess potential clients’ purchasing patterns. In the meantime, the increasing use of mobile apps is likely to boost demand for mobile application monitoring over the forecast period, assisting the market.
Synthetic Monitoring Industry Definition and Major Segments
Synthetic monitoring is defined as a web browser script recording or online transaction monitoring technique in which behavioural scripts are developed to replicate a user’s path through a website.
It aids in the continuous monitoring of IT service performance. Synthetic monitoring guarantees that faults and difficulties are swiftly recognised and rectified, ideally before users complain or notice, by observing simulated user transactions.
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Based on type, the market is divided into:
- API Monitoring
- Website Monitoring
- Mobile Application Monitoring
On the basis of end use, the market is segmented into:
- BFSI
- IT and Telecommunication
- Retail
- Media and Entertainment
- Travel and Hospitality
- Others
On the Basis of region, the market can be divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
Synthetic Monitoring Market Trends
The increased demand for synthetic monitoring in different end-use industries, including the BFSI sector, is driving the global market. Major financial and banking institutions have increased their efforts to combat difficulties such as mobile or net banking disruptions and the need to improve accountability. In the BFSI sector, this is generating demand for synthetic monitoring.
Furthermore, the increasing use of smartphone-based applications for a variety of reasons is projected to drive demand for mobile application monitoring to analyse consumer behaviour and improve user experience, which is expected to benefit the market throughout the forecast period.
Furthermore, the market is likely to benefit from millennials’ increasing reliance on electronics such as smartphones, laptops, tablets, and other such devices. Nowadays, these devices are utilised for shopping, streaming, and advertising. Synthetic monitoring is predicted to give considerable potential prospects for the market because it is compatible with smart devices.
Key Market Players
The major players in the market are Dynatrace LLC, Broadcom, Inc., Micro Focus International LLC, Catchpoint Systems Inc., AppDynamics LLC among others.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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