Mainframe Monitoring Tools Market Size
The Business Research Company recently released a comprehensive report on the Global Mainframe Monitoring Tools Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
According to The Business Research Company’s, The mainframe monitoring tools market size has grown strongly in recent years. It will grow from $1.35 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to technological advancements, increased complexity of mainframe environments, growth in demand for performance optimization, rise in security concerns, and regulatory compliance requirements.
The mainframe monitoring tools market size is expected to see strong growth in the next few years. It will grow to $1.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the adoption of hybrid cloud strategies, focus on cost optimization, the emergence of AI and machine learning capabilities, demand for real-time analytics, and emphasis on DevOps and agile methodologies. Major trends in the forecast period include enhanced automation and orchestration, integration with AIOps platforms, expansion of predictive analytics capabilities, emphasis on user experience monitoring, and increased focus on cloud-native monitoring solutions.
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Market Drivers and Trends:
An increase in the IoT (Internet of Things) landscape is expected to propel the growth of the mainframe monitoring tools market going forward. The IoT landscape encompasses the interconnected network of devices, sensors, software, and platforms that enable the exchange of data and communication between physical objects and the digital world. The IoT landscape is rising due to the increasing demand for connected devices, data-driven insights, and automation across industries, driving efficiency, productivity, and innovation. The IoT landscape enhances mainframe monitoring tools by enabling real-time data collection, analysis, and predictive maintenance, ensuring optimal performance and reliability of critical mainframe systems. For instance, in September 2023, according to a report published by Ericsson, a Sweden-based telecommunications company, global IoT connections reached 15.7 billion in 2023 and are forecast to grow to 38.9 billion by 2029. Therefore, an increase in the IoT (Internet of Things) landscape is driving the growth of the mainframe monitoring tools market.
Major companies operating in the mainframe monitoring tools market are developing advanced solutions, such as cloud-based solutions leveraging AI and ML algorithms, to analyze vast amounts of operational data generated by mainframe systems in real time. Cloud-based mainframe operation solutions can identify patterns, trends, and anomalies, enabling proactive problem detection and resolution. For instance, in June 2023, BMC Software Inc., a US-based information technology (IT) services provider, launched BMC Automated Mainframe Intelligence (AMI) Cloud, a new range of products to assist clients in rethinking mainframe data management in the context of hybrid IT, including public and private clouds. The BMC AMI Cloud portfolio enables companies to use hybrid cloud technologies for large-scale, business-critical transactions while getting the benefits of cloud computing. Organizations that open their mission-critical data get more business insight, allowing them to make better decisions with greater security, flexibility, scalability, and efficiency.
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Major Key Players of the Market:
International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., Fujitsu Limited, Hewlett Packard Enterprise Company, Amazon Web Services, Micro Focus International plc, Splunk Inc., Hitachi Vantara LLC, BMC Software Inc., Dynatrace LLC, TIBCO Software Inc., Quest Software Inc., Fortra LLC, Ensono LP, Precisely Holdings LLC, Rocket Software Inc., Mainline Information Systems Inc., UNICOM Government Inc., Luminex Software Inc., Blu Age Corporation, LzLabs GmbH, CPT Global Limited, IntelliMagic B.V., GT Software LLC, DataKinetics Corporation
Mainframe Monitoring Tools Market 2024 Key Insights:
• The mainframe monitoring tools market size is expected to see strong growth in the next few years. It will grow to $1.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• IoT Landscape Driving Growth In The Mainframe Monitoring Tools Market
• Introducing Cloud-Based Mainframe Monitoring Solutions With AI And ML Integration
• North America was the largest region in the mainframe monitoring tools market in 2023
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