End User Experience Monitoring Market Growth Rate, Business Strategy, Key Trends and Revenue Analysis 2023
The report “End User Experience Monitoring Market by Component (Products and Services), Access Type (Web and Mobile), Deployment Type, Organization Size, Vertical (BFSI, IT and Telecommunications, and Government and Public Sector), and Region – Global Forecast to 2023”, The global EUEM market size is expected to grow from USD 1.5 billion in 2018 to USD 3.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 20.7% during the forecast period. The growing number of agents to provide better end user experience, increasing need to measure business impact of end user experience, and changing end user expectations are major growth factors for the EUEM market.
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EUEM product’s built-in user experience metrics and actionable insights to proactively alert enterprises of all client-side issues
Enterprises across verticals make use of EUEM products for achieving faster problem diagnosis and reproduction, in turn ensuring enhanced website experience for customers. These products help in measuring business service impact from the user experience perspective along with monitoring how customers interact with websites and applications in real time. The EUEM products provide built-in user experience metrics and actionable insights to proactively alert enterprises of all client-side issues. Two approaches are followed while monitoring end user experience, namely, synthetic monitoring and real user monitoring.
Growing need for attaining operational efficiency to drive web-based EUEM segment
EUEM of web applications is aimed towards gathering metrics that can be used in improving the functionality and end user experience of the web app. Some of the metrics that are monitored include web requests and transactions, application dependencies, server monitoring, code-level performance, and log data. Monitoring web requests and transactions make it possible to identify and isolate slow incidents. All this data obtained from monitoring the various metrics is used in providing a better end user experience.
Growing need to be customer-centric to drive the adoption of EUEM products among large enterprises
The influx of startups in the recent years has prompted large enterprises to provide a good end user experience, as a negative experience can affect their customer base. Large enterprises are using EUEM products for keeping a tab on the availability of mission-critical applications and monitoring their performance in various environments and scenarios. Any breach in SLAs can lead to revenue losses, reduction in productivity, and legal penalties. Hence, large enterprises are adopting EUEM products and services on a large scale.
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North America to dominate the global EUEM market in 2018
North America is a mature market in terms of EUEM products adoption, owing to a large presence of enterprises with advanced IT infrastructure and the availability of technical expertise. BFSI, IT and telecommunications, and government and public sector verticals majorly adopt EUEM products. As the benefits of adopting EUEM are becoming more evident, more companies are expected to implement EUEM products and services. The US and Canada are the top countries contributing to the growth of EUEM market in North America.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to expand their presence in the global EUEM market. Major vendors in the global EUEM market include CA Technologies (US), Micro Focus (UK), SAP (Germany), AppDynamics (US), IBM (US), Riverbed (US), BMC Software (US), Catchpoint (US), Dynatrace (US), New Relic (US), Oracle (US), Lakeside Software (US), Nexthink (Switzerland), Centurylink (US), ControlUp (US), Bitbar (Finland), eG Innovations (US), SmartBear (US), Stackify (US), Alyvix (Italy), AppNeta (US), Datadog (US), Rigor (US), TeamViewer (Germany), and Application Performance Ltd (UK).
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