End-User Experience Monitoring (EUEM) Market size is set to register substantial growth over 2021-2027. This is attributed to the rising need for efficient monitoring systems for problem solving and improvement of organizational workflows. End-user expectations and preferences evolve constantly, which makes the deployment of experience monitoring applications and devices critical for businesses across the industrial spectrum. EUEM refers software tools which enable businesses to examine the impact of devices or application performance from the end-user’s perspective. The use of end-to-end monitoring tools gives IT professionals the ability to optimize user experience, via prompt identification of application-related issues and reduction in MTTR (mean time to repair).
A major trend driving end-user experience monitoring industry growth over 2021-2027 is the burgeoning adoption of cutting-edge technologies like AI and IoT. These technologies are playing in increasingly important role in improving IT decisions, and helping the businesses solve problems related to application or device performance more efficiently. According to certain estimates, companies are set to make investments worth nearly $15 trillion by 2025 for focusing on IoT technology development to add more value to their business.
End-user experience monitoring (EUEM) market from the real user monitoring segment will amass substantial proceeds by 2027, given the increasing use of the systems by businesses to gain better user insights. RUM solutions provide complete visibility into application performance, allowing business to detect which aspects of its site require focused attention and optimization.
From a regional standpoint, Asia Pacific is poised to emerge as a key revenue pocket for the end-user experience monitoring industry. This is mainly due to the rapid progression of IoT, cloud computing and other technologies in the region, which has urged organizations to focus more on the user experience of their mobile and web applications. Based on estimates from the November IoT Spotlight 2020, nearly four in ten companies based in the APAC region had integrated IoT, out of which 82% revealed plans to accelerate IoT projects considering the growing influence of the COVID-19 pandemic on businesses.
Key vendors bolstering the EUEM market outlook include IBM, Bitbar (SmartBear), Riverbed (Riverbed Holdings, Inc., Teachers Private Capital, Thoma Bravo), SAP, eG Innovations, CA Technologies (Broadcom Inc), Lumen Technologies (formerly CenturyLink), BMC Software, Inc (KKR), SmartBear Software, Catchpoint, AppDynamics (Cisco Systems), Nexthink, New Relic, Dynatrace, Inc. (Compuware), AppNeta, Stackify (Netreo, Inc.), Oracle and Lakeside Software. These market players are employing various strategies including collaborations, new launches and expansions to gain a competitive edge.
In December 2020, SAP and Dynatrace extended their partnership through a multi-year collaboration agreement, to provide digital experience monitoring across myriad applications, particularly e-commerce and retail. As SAP Commerce Cloud’s strategic observability partner, Dynatrace will be able to offer capabilities like end-user experience monitoring and synthetic monitoring, alongside insights from Davis, its AI engine. In February 2021, Lakeside Software announced its integration with ServiceNow, through the launch of SysTrack Root Cause Analysis. This integration offers context to root cause analysis in the ServiceNow IT Service Management platform, including top issues, critical sensors, device details and end-user experience assessment.
The emergence of the COVID-19 pandemic and the lockdowns that ensued created major setbacks for many markets, one of which was reduced investments in the tech industry. This challenge, in addition to unavailability of working staff, business closures and layoffs has in turn affected many sectors associated with the technology domain, including the EUEM market.
However, the lockdown period and social distancing protocols forced a major section of the global business world to move their operations to the online platform. This in turn led to a massive increase in remote working and work-from-home trends, with companies shifting rapidly to online media. A significant number of companies worldwide have moved to a fully remote working model. Given this expansion of the remote workforce, efficient metrics on application and device performance from the employee’s perspective have become crucial, creating lucrative growth prospects for the end-user experience monitoring market.