Monitoring Tools Market Size, Share & Trends Analysis Report By Component, By Deployment, By Type (Infrastructure Monitoring Tools, Security Monitoring Tools), By Vertical, By Region, And Segment Forecasts, 2023 - 2030

Monitoring Tools Market Size, Share & Trends Analysis Report By Component, By Deployment, By Type (Infrastructure Monitoring Tools, Security Monitoring Tools), By Vertical, By Region, And Segment Forecasts, 2023 - 2030

Monitoring Tools Market Growth & Trends

The global monitoring tools market size is expected to reach USD 96.85 billion by 2030, registering a CAGR of 18.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. IT infrastructure is becoming increasingly complex as businesses adopt more advanced applications and devices. This makes it difficult to monitor IT infrastructure manually. Monitoring tools can help businesses to automate the monitoring process and identify potential problems early on. Furthermore, the increasing use of AI and ML in monitoring tools is expected to drive market growth.

Monitoring tools in the healthcare and life sciences industry have grown rapidly in recent years due to the increasing complexity and demands of the healthcare industry and the need to ensure the efficient delivery of patient care, optimize processes, and improve overall operational effectiveness. Monitoring tools in this sector can monitor various aspects of healthcare and life sciences, including patient health, medical devices, drug development, and clinical trials. In healthcare, monitoring tools track vital signs, such as heart rate, blood pressure, and oxygen saturation. This provides healthcare professionals with real-time data that can be used to make accurate diagnoses and treatment decisions.

IT monitoring tools enable businesses to track the performance of their critical IT infrastructure in real time, including servers, websites, and applications. These tools can monitor downtime, bandwidth usage, performance metrics, hardware failures, and other factors. One hour of IT downtime can significantly impact a business's bottom line, leading to lost customers and productivity. By monitoring their IT infrastructure, businesses can identify and resolve problems before they cause downtime, which can help to protect their profitability. In addition to preventing downtime, IT monitoring tools can help businesses improve operational efficiency. Businesses can identify areas to optimize their IT infrastructure by tracking performance metrics. This can lead to reduced costs and improved productivity.

Monitoring Tools Market Report Highlights

• Based on component, the software segment led the market in 2022 with a revenue share of over 76%. Software monitoring tools can provide real-time insights into the performance of IT infrastructure components
• Based on deployment, the on-premises segment led the market in 2022 with a revenue share of over 59%. Most businesses still have a traditional IT infrastructure that is hosted on-premises. This makes it easier to deploy and manage on-premises monitoring tools.
• Based on type, the security monitoring tools segment held the largest revenue share of over 37% in 2022 owing to the continued increase in cyberattacks and the growing regulatory compliance requirements
• North America dominated the market in 2022, accounting for over 37% share of the global revenue. Businesses in North America are investing heavily in IT infrastructure, which is driving the demand for monitoring tools

Please note The report will be delivered in 2-3 business days upon order notification.