Adoption of IT Infrastructure Monitoring by SMEs Driving Global Market Amidst Security Concerns
Most SMEs and large enterprises have a dedicated IT department to handle IT infrastructure, set it up, and maintain it. The same department is also responsible for monitoring the IT infrastructure to make sure the system does not falter mid-operation and lead to financial losses for the company. This has provided a major boost to the global IT infrastructure monitoring market, which is expected to value US$34.1 bn by 2024, up from US$19.24 bn in 2015 at a CAGR of 6.6% for the forecast period of 2016 to 2024.
SMEs and Large Enterprises Embracing IT Infrastructure Monitoring
Most of the business activities are handled online, making it a necessity for companies, both big and small, to have a functional and efficient IT infrastructure in place. This stands true for most SMEs who are active on social media to connect with their customers. Even a minor fault in the IT infrastructure could cost them dearly – a major reason why the adoption of IT infrastructure monitoring on the premises has become imperative. Having an on-premise IT infrastructure monitoring system helps the company stay up-to-date on the status of every system on their network and actively monitor the feeds on them to make sure everything is running smoothly. It also enables the reduction of downtime as much as possible.
Larger enterprises with international clients are particularly faced with a huge challenge in the event of a system downtime during work hours. This has led to a substantial increase in the demand for IT infrastructure monitoring.
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Security Concern Major Restraint for IT Infrastructure Monitoring Market
For SMEs, the cost of having their own network is bearable, thus making it easy for them to have their own IT setup. Large enterprises, on the other hand, have issues pertaining to office space and budgets and setting up their own IT infrastructure becomes a challenge. Cloud computing is a saving grace in such cases, making it easier for large enterprises to base their IT infrastructure on the cloud.
The issue though is security. Having a cloud-based system has its perks. Yet, trusting a third party to store confidential information on a remotely accessible site with multiple probable security glitches is a huge risk. This is a major restraint faced by the IT infrastructure monitoring market and threatens to hamper its growth. However, with new technological innovations coming up in the IT sector, industry experts are confident that the scenario will move toward a more positive outcome over time.
IT Infrastructure Monitoring A Cost-effective Solution
Majority companies spend a significant share of their resources on maintaining their IT infrastructure and monitoring them manually. With the introduction of IT infrastructure monitoring systems, the task is done easily and efficiently and is cost effective for the enterprise as a whole. With a foolproof system that provides timely status updates and warning signs well in advance, the company can efficiently prepare for an upcoming issue or work on fixing it beforehand, thereby helping them keep their system online for a maximum time.
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Notable players in the global IT infrastructure monitoring market include Nagios Enterprises, LLC, CA Technologies, Zabbix LLC., ScienceLogic, Spiceworks Inc., SevOne, Inc., AppDynamics, Inc., Datadog, Inc., Splunk Inc., and PagerDuty, Inc.