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Observability Tools and Platforms Market Trends

Report ID: GMI6419
Published Date: Aug 2023
Report Format: PDF

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Observability Tools and Platforms Market Trends

Businesses now prioritize user experience to remain competitive. Observability tools help monitor and understand user interactions, enabling organizations to identify performance bottlenecks and optimize user experience. With the growing importance of data privacy and security, observability tools play a role in ensuring compliance with regulations and detecting security threats in real time. For instance, the Data Protection Act 2018 in the UK sets out a number of requirements for organizations, including the need to obtain consent for the processing of personal data, to keep personal data secure, and to provide individuals with access to their personal data.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Observability tools and platforms industry recorded USD 2.5 billion in 2023 and is estimated to observe over 10.5% CAGR through 2024-2032, due to increasing demand for application performance management (APM) and fast-paced digitization worldwide.

Observability tools and platforms industry size from the solution component segment is expected to register 9.5% CAGR through 2024-2032, owing to the rise of DevOps and agile practices to meet the need for seamless collaboration between development and operations departments.

The cloud-based deployment mode segment in the observability tools and platforms market recorded over USD 780 million in 2023 and is expected to witness significant growth by 2032 owing to higher demand for multi-cloud strategies.

North America recorded over 35% share of the observability tools and platforms industry in 2023 and will see significant growth through 2032, driven by the robust demand for robust and dynamic IT landscape in the region.