The Europe Monitoring Tools Market would witness market growth of 21.0% CAGR during the forecast period (2023-2030).
Organizations are increasingly mobilizing their employees as BYOD-related technology develops. As a result, organizations are subscribing to security services to shield devices like smartphones, tablets, desktop computers, and laptops from cyber threats. With the increasing use of BYOD, enterprises secure devices within the office and those with remote connections to the corporate network. The market for monitoring tools is anticipated to develop due to this factor.
With the increased reliance on IT and the proliferation of technologies such as IoT, every new device generates a substantial quantity of distributed log data. Log overflow is caused by everything in a stack constantly adding new events to log files, including logs that record major errors that a running application, operating system, or server has encountered.
As more logs are acquired in a log analysis tool, more information can be used to develop algorithms when machine learning is applied to log analysis. These log intelligence algorithms are used to find trends, which saves time because less time is spent sifting through logs. The deployment of log intelligence, i.e., an AI and automation-powered log analysis method, is gathering traction among enterprises. This additional layer of log intelligence analyses logs automatically, identifying the root cause of problems and surfacing anomalies within log data, which can sometimes assist organizations in preventing a problem before it occurs.
The German government is helping municipalities by sponsoring the creation of integrated smart city strategies and their implementation through the 2020 Smart City Model Projects Program, where 32 selected projects are financed with approximately EUR 350 million. Germany is spending a total of EUR 1,250 billion to promote creating and applying urban technologies. As digital technologies are now being added and existing infrastructures are being enhanced, the process can be quite time-consuming when new cities are being constructed. Modern urban living is being disrupted by technology, which has the potential to raise living standards. As a result of the expansion of smart city projects and the urbanization of this region, the market will expand in the upcoming years.
The Germany market dominated the Europe Monitoring Tools Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,291.3 million by 2030. The UK market is exhibiting a CAGR of 19.9% during (2023 - 2030). Additionally, The France market would experience a CAGR of 21.8% during (2023 - 2030).
By Offering (Software (On-premise and Cloud) and Services), Based on Type, the market is segmented into Infrastructure Monitoring (Network Monitoring, Storage Monitoring, Server Monitoring, Cloud Infrastructure Monitoring and Others), Application Performance Monitoring (APM) (Database Monitoring, Web Application Monitoring, Mobile Application Monitoring, Code-Level Monitoring and Others), Security Monitoring (Log Monitoring & Analysis, Intrusion Detection & Prevention Systems and Vulnerability Assessment, Management & Others), and End-User Experience Monitoring Tools (Synthetic Monitoring, Real User Monitoring (RUM) and Others). Based on Vertical, the market is segmented into IT & ITeS, Telecommunications, BFSI, Healthcare & Lifesciences, Media & Entertainment, Retail & eCommerce, Transportation & Logistics, Automotive, Manufacturing and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Monitoring Tools Market is Projected to reach USD 92.5 Billion by 2030, at a CAGR of 21.4%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Microsoft Corporation, Google LLC (Alphabet, Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), IBM Corporation, Cisco Systems, Inc., Dynatrace, Inc., Splunk, Inc., SolarWinds Corporation, Nagios Enterprises LLC and Paessler AG.
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