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Digital Monitoring Market size is expected to grow from US$ 2,156.71 million in 2021 to US$ 5,960.87 million by 2028. Digital experience monitoring market s

May 27th, 2022 5:19 AM

Digital Experience Monitoring Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Enterprise Size (Large Enterprises and SMEs), Deployment Type (On-Premises and Cloud), and End-User (BFSI, IT and Telecommunications, Retail and Consumer Goods, Healthcare and Life Sciences, and Others)

 

The customer feedback system critical to any functional and profitable industry has been enhanced thanks to technology improvements. For example, companies are implementing an online feedback system using a cutting-edge Customer Relationship Management (CRM). As a result, client input directly aids in making real-time modifications and updating the company’s software to conduct a real-time assessment of the quality and adjust or change as needed. Any company experiencing a digital transition must implement digital experience monitoring systems. Streamlining the digital procedures involved in running a company lays a strong basis for future system changes or ongoing innovation. The rise in the adoption of technologies such as the Internet of things (IoT), artificial intelligence (AI), and big data across industries fuels the digital experience monitoring market share, and it aids businesses in resolving issues and improving IT decisions concerning devices and application performance. According to Statista, as of 2022, 35.82 billion IoT devices are installed worldwide, and by 2025, there will be 75.44 billion devices. From smartwatches to voice assistants, IoT gadgets are changing the way we work, communicate, and interact with one another. Consumer internet and media devices, such as smartphones, automobiles, IT infrastructure, and asset tracking and monitoring are the most important IoT devices in the consumer market. End-user adoption of smart devices is a major driver of end-user experience monitoring, which will boost the demand for the digital experience monitoring market.

 

Key Players Influencing the Market

  • BMC Software, Inc.
  • Broadcom Inc.
  • ControlUp Technologies LTD
  • Lakeside Software, LLC
  • Aternity LLC
  • Nexthink SA
  • AppDynamics LLC
  • Catchpoint Systems, inc.
  • Dynatrace LLC
  • IBM Corporation
  • Micro Focus
  • Oracle Corporation
  • Riverbed Technology, Inc.
  • SAP SE

 

Cloud and mobility are hastening an unprecedented wave of corporate upheaval, with 70% of the top ten global enterprises being founded for the first time. Companies such as Amazon, Southwest Airlines, Apple, Disney, TD Bank, and others emphasize their customers and end-user experience to enhance the software/application they deliver thus impacting the digital experience monitoring market share. As more digital services go beyond firewalls and Application Performance Management (APM) becomes less cost-effective, end-user or digital experience monitoring (DEM) technologies will become increasingly popular. Therefore, modern end-user digital experience monitoring solutions are specially built to monitor performance and availability from the user’s perspective.

 

 

Impact of COVID-19 Pandemic on Asia Pacific Digital Experience Monitoring Market

 

APAC is highly affected by the COVID-19 pandemic due to many cases. The country is the most crucial manufacturer and industrial producer since it trades more manufacturing goods than any other country worldwide, and it is a world leader in several types of goods. The Center for Strategic and International Studies has reviewed the estimates of China’s growth, and a drop was observed in GDP in 2020. Other major economies, such as India, South Korea, Australia, and Japan, have also been impacted by the pandemic and are experiencing a decline in the digital experience monitoring market growth. However, the increasing number of COVID-19 cases and high death rates in countries, such as India and various Southeast Asian countries, slightly affected the market growth in 2020. Furthermore, the region’s growing use of cutting-edge technologies, such as AI and IoT, would drive the market after the COVID-19 pandemic. These technologies are becoming increasingly significant in enhancing IT choices and assisting organizations in effectively solving challenges linked to user experience and device performance.  Hence, the impact of the COVID-19 pandemic on the growth of various industries in the region slightly influenced the digital experience monitoring market growth in 2020.

 

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