Report : Europe Digital Experience Monitoring Market Forecast to 2028 - COVID-19 Impact and Regional 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)
At 15.0% CAGR, the Europe Digital Experience Monitoring Market is speculated to be worth US$ 1,698.85 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe digital experience monitoring market was valued at US$ 735.31 million in 2022 and is expected to reach US$ 1,698.85 million by 2028, registering an annual growth rate of 16.1% from 2022 to 2028. Need for better end-user experience and endorsement of cutting-edge technologies are the critical factors attributed to the market expansion.
Customers employ a wide range of operating systems, including Windows, macOS, Linux, iOS, Android, etc. There are differences between operating system versions; if the application is a web application, users can use multiple browsers even inside the same operating system. This complicates the implementation of monitoring systems and restrains the market. Even with tremendous technological advancements, the market for digital experience monitoring still has some constraints. A big drawback is that cloud-based end-user monitoring systems rely on actual users and their experiences to provide insights. If the website fails to attract enough visitors, there will be no useful statistics to depend on. Many systems require developers to wait for the application to begin before generating and tracking user experience data. The internet medium has several technological risks, including network strength, server performance, and smooth transmission. These factors restrain the market growth. This is expected to drive the market during the forecast period.
On the contrary, execution risk of monitoring systems hurdles the growth of Europe digital experience monitoring market.
Based on enterprise size, the Europe digital experience monitoring market is divided into large enterprises and SMEs. The large enterprises segment held 65.5% market share in 2022, amassing US$ 481.77 million. It is projected to garner US$ 1,075.73 million by 2028 to expand at 14.3% CAGR during 2022–2028.
Based on Deployment Type, the Europe digital experience monitoring market is categorized into on-premises and cloud. The cloud segment held 64.0% market share in 2022, amassing US$ 470.50 million. It is projected to garner US$ 1120.89 million by 2028 to expand at 15.6% CAGR during 2022–2028.
Based on end user, the Europe digital experience monitoring market is categorized into BFSI, IT and telecommunications, retail and consumer goods, healthcare and life sciences, and others. The BFSI segment held 30.8% market share in 2022, amassing US$ 226.20 million. It is projected to garner US$ 560.75 million by 2028 to expand at 16.3% CAGR during 2022–2028
Based on country, the Europe digital experience monitoring market has been categorised into the Germany, UK, France, Italy, Russia, and Rest of Europe. Our regional analysis states that UK captured 30.5% market share in 2022. It was assessed at US$ 224.47 million in 2022 and is likely to hit US$ 559.60 million by 2028, exhibiting a CAGR of 16.4% during the forecast period.
Key players dominating the Europe digital experience monitoring market are AppDynamics LLC; BMC Software, Inc.; Broadcom Inc.; Catchpoint Systems, Inc.; Dynatrace LLC; IBM Corporation; Micro Focus; Oracle Corporation; Riverbed Technology, Inc.; SAP SE; Lakeside Software, LLC; Aternity LLC.; and Nexthink SA among others.
- In Dec 2021, Broadcom Inc. had acquired AppNeta to bolster network performance monitoring across internet and hybrid cloud-based applications.
- In Mar 2022, Catchpoint Systems, inc. had unveiled a new user experience platform to improve digital service and application performance for observability and monitoring practitioners.
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