Global container market to hit $706.2 million by 2022
The global container monitoring market is expected to swell from $169.6 million in 2017 to $706.2 million by 2022, at a compound annual growth rate (CAGR) of 33%, according to a report published by ResearchandMarkets.
Containers are a lightweight form of virtualization that has taken the telecom industry by storm.
According to the report, the demand for container monitoring is being drive by various factors, including increased use of microservices and the growth of DevOps.
Containers serve as a major component of microservices and DevOps. The former involves breaking down a monolithic application into a suite of modules designed for specific business functions, which can communicate with each other through a set of interfaces. The latter involves levelling barriers between software developers and operations team in order to accelerate time-to-market applications.
North America is anticipated to hold the largest container monitoring market size during the forecast period. The authors of the report said American organizations are more focused on providing new features using containerized applications. The authors added American companies have been making major investments in advanced technology in order to gain a competitive edge and improve business operations.
The European region, on the other hand, is expected to be the fastest growing region in the global container market during the forecast period. The authors of the report said this was on account of increased adoption of container monitoring solutions and services by small-and-medium sized enterprises (SMEs).
With respect to professional services, the report found the training and development segment is expected to grow at the highest rate during the forecast period. Per the report, “Container monitoring is used by developers and IT operators to monitor and manage containers to optimize the application performance. Although the container monitoring technology is rapidly growing and is simple to use, it is one of the new concepts among enterprises and needs professionals and experts to manage the solutions and services. Therefore, the training and development is expected to be the fastest growing segment in the container monitoring market.”
Among the major vendors the report found occupying the container monitoring market include: CA Technologies, AppDynamics, Splunk, Dynatrace, Datadog, BMC Software, Sysdig, SignalFx, Wavefront and CoScale. These vendors have helped boost their presence in the global container monitoring market through new product developments, partnerships and collaborations, mergers and acquisitions, and business expansions, according to the report.
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