Allied Market Research published a report, titled, Monitoring Tools Market by Component (Software and Services), Deployment (Cloud and On-Premises), Type (Infrastructure Monitoring Tools, Application Performance Monitoring Tools, Security Monitoring Tools and End-user Experience Monitoring Tools), and Vertical (BFSI, Retail E-commerce, Healthcare, IT Telecom, Media Entertainment, Manufacturing and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032. According to the report, the monitoring tools market was valued at $26.5 billion in 2023, and is estimated to reach $140.4 billion by 2032, growing at a CAGR of 20.1% from 2024 to 2032.
Prime determinants of growth
The global monitoring tools market is experiencing growth due to rising demand for proactive monitoring, increased focus on cybersecurity and regulatory compliance requirements. However, high implementation costs hinder market growth to some extent. Moreover,
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