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Global Synthetic Monitoring Market to Grow at a CAGR of 15.3% During 2022-2027, Aided by its Rising Demand in the Mobile Applications

According to a new report by EMR titled, ‘Global Synthetic Monitoring Market Report and Forecast 2022-2027’, the global synthetic monitoring industry stood at a value of around USD 830 million in 2020. The market is further expected to grow at a CAGR of 15.3% in the forecast period of 2022-2027.

The synthetic monitoring market is driven by its rising demand in the mobile applications, owing to the growing adoption of smartphone, tablets, and laptops among the working-class population. Synthetic monitoring sends a constant stream of synthesised traffic to an application, ensuring the availability, and reliable performance benchmarks of the respective application. It is extremely useful in the application based on travel, entertainment, and purchasing, among others. The market will further be aided by the growing dependence on the e-commerce websites.

North America is likely to account for a significant share in the market owing to the thriving retail and IT and telecommunication sectors. The rapid expansion of the IT infrastructure in countries like the United States of America and Canada, owing to the presence of major IT companies, is likely to bolster the synthetic monitoring market in the region. The market in the region will further be aided by the technological advancements in the e-commerce sector, owing to the presence of e-commerce giants such as Amazon (NASDAQ: AMZN), which will perpetuate the demand for synthetic monitoring for better quality and performance of a website or an application.

In April 2021, Broadcom Inc. (NASDAQ: AVGO) announced the collaboration with Google Cloud (NASDAQ: GOOGL). The deal has been aimed towards bolstering the digitalization of the Broadcom Inc., in order to accelerate innovation and strengthen the cloud services integration within the core software franchises of Broadcom. Under this collaboration, the businesses will be enabled to deploy Broadcom solutions in security DevOps and more on Google Cloud’s trusted, global infrastructure.

Market Breakup by Types, End-Uses, and Region:

  • The market based on types is segmented into API monitoring, website monitoring, and mobile application monitoring.
  • The significant end-uses of the synthetic monitoring include BFSI, IT and telecommunication, retail, media and entertainment, travel and hospitality.
  • Region-wise, the global market for synthetic monitoring can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for synthetic monitoring is being driven by the growing end-use in BFSI, IT and telecommunication, travel and hospitality, among others.
  • The technological advancements in the small, medium, and large enterprises, coupled with the growing awareness among the businessmen about the advantages of synthetic monitoring, is likely to propel the market growth.
  • The growing expansion of the e-commerce industry, along with the growing dependence of people on the e-commerce mobile applications, is likely to aid the market.
  • The market will further be aided by the growing adoption of smartphones, laptops, and tablets in the emerging economies.

Key Offerings of the Report:

  • The EMR report gives an overview of the global synthetic monitoring market for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, end-uses, and major regions of synthetic monitoring.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global synthetic monitoring industry are Dynatrace LLC, Broadcom, Inc., Micro Focus International LLC, Catchpoint Systems Inc., and AppDynamics LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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