Cloud Monitoring Global Market Report 2024

The cloud monitoring market size has grown rapidly in recent years. It will grow from $2.3 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. Historical growth was driven by digital transformation initiatives across industries, the pursuit of cost efficiency, rising concerns about security, the need for scalable solutions, and the trends toward remote work.

The cloud monitoring market size is expected to see rapid growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. Anticipated growth in the upcoming period is linked to the adoption of multi-cloud deployments, meeting compliance requirements, integrating edge computing, incorporating AI and machine learning, and managing hybrid IT environments. Major trends expected in this forecast period encompass a focus on cloud security monitoring, achieving end-to-end visibility across cloud services, automating incident responses, utilizing tools for cost management and optimization, and implementing monitoring and reporting systems for compliance standards.

The exponential growth in enterprise adoption of cloud technologies stands as a significant driver propelling the expansion of the cloud monitoring market. Enterprises are leveraging cloud adoption as a means to optimize costs, mitigate risks, and enhance the scalability of their Internet-based database capabilities. Cloud monitoring plays a pivotal role in averting potential breaches by facilitating real-time scans and continuous monitoring, thus becoming a necessity for organizations utilizing cloud technologies. This increasing reliance on cloud-based solutions is fueling the demand for robust cloud monitoring services. For instance, data from Zippia Inc., a US-based career expert, revealed that as of December 2022, a staggering 94% of businesses have integrated cloud services into their operations. Additionally, a substantial 92% of enterprises either have a multi-cloud strategy in place or are actively developing one. Moreover, the market for cloud services surged to $206.1 billion in 2022. This surge in cloud adoption among enterprises, coupled with the widespread implementation of multi-cloud strategies, serves as a driving force behind the growth trajectory of the cloud monitoring market.

The burgeoning trend of remote work is anticipated to significantly propel the growth of the cloud monitoring market in the foreseeable future. Remote work, also known as telecommuting or telework, involves conducting professional responsibilities from locations outside the traditional office setting. Monitoring cloud resources plays a crucial role for organizations, allowing them to optimize resource usage effectively. This optimization ensures that remote employees have seamless access to essential computing power, storage, and applications without over-provisioning or unnecessary expenses. For instance, a report published by the United States Census Bureau in September 2022 revealed that approximately 48.3% of the workforce in the District of Columbia engaged in remote work in 2021, marking the highest percentage of individuals working from home among states and state equivalents. Additionally, substantial proportions of remote workers were noted in states such as Washington (24.2%), Maryland (24.0%), Colorado (23.7%), and Massachusetts (23.7%). Consequently, the surge in remote work practices is a key driving force behind the expansion of the cloud monitoring market.

Collaborative alliances are emerging as a significant trend within the cloud monitoring sector. Key players in this market are actively pursuing partnerships to bolster their standing and capabilities. An illustrative example occurred in May 2022, when the International Business Machines Corporation (IBM), a prominent US-based technology corporation, forged a partnership with Amazon Web Services (AWS), a leading US-based cloud computing platform. Through this strategic collaboration, IBM intends to offer an extensive array of its software catalog in a Software-as-a-Service (SaaS) format via the Amazon Web Services platform. This alliance aims to leverage the strengths of both entities to enhance service offerings and broaden market accessibility for IBM's software solutions.

Prominent companies operating in the cloud monitoring market are developing innovative products, such as cloud operation solutions, to meet larger customer bases, increase sales, and increase revenue. Cloud operations (CloudOps) is an operations-oriented framework that encompasses the integration of an organization's unique set of technologies, people, and processes set up to manage the delivery, performance, and optimization of the IT workloads they run in the cloud. For instance, in April 2023, Amazon Web Services, a US-based provider of cloud computing platforms, launched the AWS Cloud Operations Competency. The distinctive feature of the AWS Cloud Operations Competency lies in its comprehensive coverage of five fundamental solution areas: cloud governance, cloud financial management, monitoring and observability, compliance and auditing, and operations management. This competency empowers customers to choose validated AWS partners offering integrated solutions across these critical domains. AWS Cloud Operations Competency Partners demonstrate expertise in supporting customers across essential technical capabilities, facilitating secure, efficient, and well-operated cloud environments. The competency encompasses rigorous training and testing in five key areas, including financial management for optimized cost, tooling and resource organization for effective cost tracking, and cloud governance to assist clients in planning, building, and managing secure, scalable, and cost-efficient hybrid cloud environments.


In February 2022, the International Business Machines Corporation (IBM), a technology giant based in the US, completed the acquisition of Sentaca Consulting Canada Ltd., an undisclosed financial transaction. This strategic acquisition was aimed at enhancing IBM's capabilities to support communications service providers (CSPs) and major players in the media industry. It intended to aid these entities in upgrading multiple cloud platforms, fostering innovation, transforming their organizations, and accelerating IBM's hybrid cloud consulting business. Sentaca Consulting Canada Ltd., headquartered in Canada, specializes in software consulting and professional services, focusing on automation and cloud-native solutions tailored specifically for telecommunications and future networks. This acquisition sought to integrate Sentaca's expertise and offerings into IBM's portfolio, augmenting their ability to cater to the evolving needs of the telecommunications and media sectors.

Major companies operating in the cloud monitoring market report are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, New Relic Inc., IBM Corporation, Oracle Corporation, Broadcom Inc., Splunk Inc., BMC Software Inc., Datadog Inc., Kaseya Limited, Dynatrace Inc., SolarWinds Worldwide LLC, PagerDuty Inc., Sumo Logic Inc., Grafana Labs Inc., Elastic N.V., LogicMonitor Inc., AppDynamics Inc., IDERA Inc., xMatters Inc., InfluxDB Inc., SevOne Inc., VictorOps Inc., Site24x7 Inc., Zenoss Inc., Opsgenie Inc., Stackify Inc., Sematext Group Inc., OpenMetrics Project.

North America was the largest region in the cloud monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global cloud monitoring market report during the forecast period. The regions covered in the cloud monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cloud monitoring market includes revenues earned by entities by providing services such as Logging as a service (LaaS). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.