North America held a dominant position in the global cloud monitoring market in 2016. The U.S. and Canada hold the largest market share in the region, owing to the shifting of data to cloud infrastructure in these countries. In 2015, North America accounted for around 42% of the global cloud data center workload.
For instance, Amazon Web Services (AWS) enables scalability and flexibility of IT services to be delivered to end-use industries. Moreover it also provides externally hosted computing resources to the organizations for their individual services and applications.
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Cloud monitoring refers to the process of monitoring, reviewing, and managing of operational processes and work within a cloud-based IT infrastructure. Cloud monitoring is implemented by using manual or mechanized IT monitoring and management technology for the optimal performance of cloud infrastructure.
Major applications of cloud monitoring include website monitoring, virtual machine monitoring, database monitoring, virtual network monitoring, and cloud storage monitoring. These functions of cloud monitoring enables easy detection of potential security threads in infrastructure, by tracking the process, and monitoring traffic. Cloud monitoring solutions involves scanning, classifying, analyzing of data and then take action to protect against loss of data, before it leaves the network.
Growth of the global cloud monitoring market is led by the high demand for monitoring huge data set. According to Coherent Market Insights analysis, the global data sphere is expected to reach up to 163 zettabytes by 2025, due to increasing adoption of cloud monitoring. This is in turn, expected to increase due to advantages of cloud monitoring such as cost effectiveness, performance, scalability, and flexibility have also accelerated growth of the market.
High demand for cloud monitoring for financial applications is expected to increase market growth
Software-as-a-service is an on-demand application, used to control and rectify performance of a system. Increasing adoption of software-as-a-services offerings such as customer relationship management (CRM), human capital management (HCM), enterprise resource management, and other financial applications creates a favorable environment for adoption of cloud monitoring, specifically in large organizations. Unlike conventional banking application software, it does not require employees for smooth running of the system. Also, it does not require major investment in PCs, network infrastructure, and backup systems. Moreover, it provides data security and does not require frequent software upgrade. Hence, it reduces the overall cost of the system. Additionally, growing inclination of the enterprise buyers towards adoption of the software-as-a-service solutions is expected to boost growth of the market for cloud computing in the near future. According to Coherent Market Insights’ analysis, around 45% of adoption by large enterprise in the U.S. will comprise software-as-a-service. This in turn, is expected to boost growth of the market for cloud monitoring.
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