MarketsandMarkets forecasts the global observability tools and platforms market size is expected to grow from USD 2.4 billion in 2023 to USD 4.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period. The demand of helping business to receive continuous insight about the overall health of their deployed applications are expected to drive the growth of the observability tools and platforms market.
The market players have adopted various growth strategies, such as partnerships, agreements, acquisitions, collaborations, and new product enhancements, to expand their presence in the observability tools and platforms market. New product launches, collaborations, and product enhancements have been the most adopted strategies by major players in the past few years, which helped companies to innovate their offerings and broaden their customer base.
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LogicMonitor is committed to exploring and expanding possibilities for businesses by advancing their technology. The vision of the company is ‘Turn It On – Today’, monitoring keeps the world of business turning. LogicMonitor comprehensively monitors infrastructures, from on-premises to the cloud. Within a shorter time span, the team here works the way out, making it possible for businesses to advance their technology, ensuring airline passengers aren’t stranded due to system outages (travel and tourism, hospitality industry), food stays at safe temperatures (food and beverages industry), and spinning wheels don’t interrupt our favorite streaming shows (media and entertainment industry). The company believes in ‘Turn the Dial’, wherein they believe monitoring should do more than visualize today’s or current information, it should open new avenues for businesses to grow. LogicMonitor goes above and beyond to empower its customers, claiming to be the most extensible monitoring platform globally. When customers can solve problems before they start, they can shift their focus from maintenance to innovation. ‘Turn the Corner’ briefs that as AI/ML turns from sci-fi promises to day-to-day realities, technology is enabling businesses to see what’s coming before it happens. LogicMonitor collaborates closely with its customers to understand their risks, anticipate their needs, thereby providing insights that unlock their vision. Few reportable specialties offered by the company include network monitoring, server monitoring, application monitoring, NetApp monitoring, VMware monitoring, XenServer monitoring, Cisco monitoring, MongoDB monitoring, SQL monitoring, PostgreSQL monitoring, Netscaler monitoring, cloud monitoring, AWS monitoring, software as a service, cloud monitoring, hybrid monitoring, SaaS, infrastructure monitoring, GCP monitoring, Azure monitoring, and AIOps. The company has a global presence with offices in Santa Barbara, Austin, Boston, New York City, London, India, Australia, and Singapore.
New Relic is a technology-driven company, which develops cloud-based software to help website and application owners track the performance of their services. It delivers the observability platform for engineers to plan, build, deploy, and operate more perfect software. The company caters to more than 17,000 customers worldwide through 15 offices. It is one of the prominent players in the cloud performance management market. New Relic offers a wide range of cloud-based products and solutions. The company offers solutions for DevOps, cloud adoption, cloud-native, and digital customer experience. New Relic serves customers across different industry verticals, including e-commerce and retail, media, and the public sector. The company is focused on enabling customers to create perfect software by offering a comprehensive cloud-based observability platform. New Relic’s platform offers capabilities such as programmability, infinite tracing, integration, and security. Apart from products and solutions, the company also offers professional and support services. It has developed a strong relationship with several cloud providers, including Amazon Web Services, Google Cloud Platform, Microsoft Azure, IBM Cloud, Pivotal CloudFoundry, and others. The company serves a variety of industries, including e-commerce and retail, healthcare, media and entertainment, the public sector, and emerging start-ups. Its marketing strategy focuses on meaningful interactions with practitioners and buyers by targeting software developers, operations professionals, IT leaders, and technology executives across many industries and regions. The New Relic platform gives one clear picture of the software and simplifies the complexity of monitoring hybrid cloud infrastructure. It’s a pure Software-as-a-Service (SaaS) solution. The company provides various cloud solutions such as Application Performance (APM), Network Monitoring, Mobile Monitoring, Browser Monitoring, Infrastructure Monitoring, Log Management, and Model Performance Monitoring.
Observability Tools and Platforms Market by Component (Solution, and Services), Deployment type (Public cloud, and Private cloud), Vertical, and Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America) - Global Forecast to 2028
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