Blockchain Press Releases
Observability Tools and Platforms Market worth $4.1 billion by 2028 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 14, 2023 /PRNewswire/ — With the introduction of cloud-native technologies, the move towards DevOps and SRE practices, and the growing complexity of IT infrastructures, the future of the Observability Tools and Platforms Market is bright. Improvements in AI-driven insights, enlarged observability capabilities, integration with security operations, industry consolidation, and continued innovation will all be seen in the market.
The Observability Tools and Platforms Market size is expected to grow from USD 2.4 billion in 2023 to USD 4.1 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period, according to a new report by MarketsandMarkets™. The advancements in cloud technology, open-source software, and development tools, monitoring tools, rise in cloud-native demand, a surge in adoption of cloud computing services, the growth of advanced technologies such as AI, ML, IoT, real-time data analytics, enablement of AI-based tools in IT operations, are few key factors driving the growth of the Observability Tools and Platforms Market.
Browse in-depth TOC on “Observability Tools and Platforms Market“
250 – Tables
60 – Figures
210 – Pages
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Scope of the Report:
|
Report Metrics |
Details |
|
Market size available for years |
2019-2021 |
|
Base year considered |
2022 |
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Forecast period |
2023-2028 |
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Forecast units |
Value (USD Million/Billion) |
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Segments covered |
Components (Solution and Services), Deployment Type (Public Cloud, and Private Cloud), Vertical, and Regions |
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Regions covered |
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
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Companies covered |
Dynatrace (US), ScienceLogic (US), LogicMonitor (US), Auvik (Canada), New Relic (US), GitLab (US), AppDynamics (US), SolarWinds (US), Splunk (US), Datadog (US), Sumo Logic (US), Monte Carlo (US), Acceldata (US), IBM (US), StackState (US), Nexthink (Switzerland), Riverbed (US), Broadcom (US), Lightstep (US), Microsoft (US), Atatus (India) |
By component, the solution segment to hold a larger market share during the forecast period
Observability platform provides tools for evaluating, monitoring, and managing cloud services, applications, and infrastructure. It provides features such as full visibility across the cloud, eliminating blind spots, and early detection of issues and vulnerabilities to secure the cloud, better insights, cost control, fast troubleshooting, and performance tracking across the cloud. Moreover, Observability solutions are built for organizations of various sizes, and as the cloud activity increases, the monitoring tool can scale simultaneously. These solutions are also available on a subscription-based model, which reduces operational expenditure. These advantages of the solutions are expected to fuel their demand in the future.
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By vertical, Retail and consumer goods exhibits significant growth in the market during the forecast period
Data observability in the retail industry helps improve internal analytics, and shopping experiences, notably reducing time-to-detection of data quality issues and increasing revenue with reliable and trustworthy data. Challenges that were faced by the industry in the past years were such as missing and duplicative data, complicated queries, and inconsistent logic across pipelines which created confusion in analytics, missing ingestion pipelines from marketing sources, loss in visibility to increase marketing spend efficiency, lack of access to fresh, up-to-date data for stakeholders to make decisions. With Data observability, the retail industry has gained a few benefits such as custom alerting for known business logic, such as update frequency for third-party data, field-level lineage graphs that help show the downstream impact of changes, and automated thresholding for data quality metrics across key tables. With the advent of e-commerce and online retailers, the retail industry has faced tremendous changes in recent years and has readjusted itself to the new business environment. Shop retailers are adopting more innovative technologies, such as cloud computing and big data analytics, to sustain and thrive.
Asia Pacific to grow at the highest rate among regions in the Observability Tools and Platforms Market during the forecast period
Observability Tools and Platforms Market in Asia Pacific has been studied for countries such as China, Japan, India, and the Rest of Asia Pacific. The region is expected to experience extensive growth opportunities due to high consumer spending, internet penetration, and the rising adoption of advanced technologies, such as AI, ML, analytics, and cloud computing. The presence of many prominent large multi-national companies and emerging fruitful startups in the region has led to rising demand for the latest Observability tools and platforms. Major factors for technological advancements in the region are the rising levels of urbanization, technological innovation, and government support for the digital economy. Rapid advancements in telecommunications, cloud computing, and IoT have led to several organizations adopting cloud-based strategies. The increasing adoption of cloud technologies and the massive amount of data has led to the complexity of managing workloads and applications manually, which is the primary factor in adopting observability solutions among enterprises in this region.
Top Key Companies in Observability Tools and Platforms Market:
The Major Players for Observability Tools and Platforms Market include some of the key vendors as well as startups offering Observability solutions across the globe, which include Dynatrace (US), ScienceLogic (US), LogicMonitor (US), Auvik (Canada), New Relic (US), GitLab (US), AppDynamics (US), SolarWinds (US), Splunk (US), Datadog (US), Sumo Logic (US), Monte Carlo (US), Acceldata (US), IBM (US), StackState (US), Nexthink (Switzerland), Riverbed (US), Broadcom (US), Lightstep (US), Microsoft (US), Atatus (India).
Recent Developments
- In May 2023, Dynatrace collaborated with Red Hat, and with this deal, customers using Red Hat Ansible Automation Platform have the capability to integrate AI-powered insights and action from Dynatrace with Event-Driven Ansible to automate a broader range of DevSecOps use cases, including closed-loop issue and security remediation, application healing, and incident response. This supports platform engineering, DevOps, and security teams enhance and mature their automation practices in order to deliver flawless and secure digital experiences for their customers.
- In May 2023, New Relic launched Grok which is New Relic’s AI observability assistant. With Grok, engineers can sift through data more easily and treat well through their unified telemetry data without having to write complex queries.
- In February 2023, Dynatrace launched AppEngine, a new Dynatrace® platform technology that empowers customers and partners with an easy-to-use, low-code approach to create custom, compliant, and intelligent data-driven app(s) for their IT services/solutions, development, security, and business teams. These custom apps [Smartscape® Health View, Site Reliability Guardian, Carbon Impact] can address boundless BizDevSecOps use cases, while unlocking the wealth of insights available in the massive amount(s) of data generated by modern cloud ecosystems.
- In October 2022, ScienceLogic acquired ML analytics firm Zebrium to automatically detect the root cause of complex, modern (containerized, cloud-native) application problems. This deal drastically reduces the time taken to identify, diagnose and resolve business-service impacting issues, lowering IT costs, and delivering superior customer and employee experiences.
- In October 2022, Auvik acquired Saaslio and Boardgent. With this deal, Auvik will provide a unique toolset to enable IT professionals gain more control, visibility, and troubleshooting capabilities over the new last mile of the office network. It is believed that the combination of the firms’ deep expertise in network monitoring and management, experienced workforces, proprietary technologies, and innovative solutions allow the unified company in delivering the ultimate network monitoring platform.
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Observability Tools and Platforms Market Advantages:
- Real-time insights into the functionality of systems, applications, and infrastructure are provided via observability technologies. Response times, latency, throughput, error rates, and resource usage are just a few of the metrics that these tools keep track of. Organisations can locate bottlenecks, resolve performance problems, and optimise their systems for greater effectiveness by carefully monitoring these indicators.
- Thanks to observability tools, organisations can recognise and address issues before they affect end users. These instruments compile and analyse data from several sources, including logs, metrics, traces, and events, to provide a thorough picture of the system’s health. In order to minimise downtime and its impact on everyday operations, proactive monitoring and alerting aid enterprises in quickly identifying and resolving issues.
- Tools for observability offer thorough visibility into distributed, complicated systems. Traditional monitoring techniques frequently fall short in the age of microservices architectures and cloud-based infrastructure. Organisations may comprehend the end-to-end flow of requests and identify the underlying causes of problems with the help of observability technologies, which provide comprehensive insights into the interactions and interconnections between various components.
- Faster root cause analysis and troubleshooting are made possible by observability tools. These technologies can shorten the time needed for manual research by combining data from many sources and correlating occurrences. Teams can immediately pinpoint the origin of an issue and take the necessary steps to resolve it with the use of contextual data, such as logs, metrics, and traces, which reduces the mean time to resolution (MTTR).
- Large-scale, distributed settings are supported by observability technologies. Massive amounts of data produced by contemporary systems can be gathered, handled, and analysed by them. Additionally, because these tools are frequently created to be versatile, organisations can modify and adapt them to meet their particular needs. Observability technologies can be scaled and customised to fit the needs of businesses of various sizes, from small startups to global conglomerates.
- The use of observability tools fosters cooperation and communication among many teams, including those responsible for development, operations, and security. Teams can effectively detect and address problems when they collaborate to share a common understanding of the behaviour and performance of the system. Additionally, observability technologies frequently offer capabilities like dashboards, visualisations, and reporting that help teams and stakeholders communicate clearly and succinctly.
- Observability tools improve customer experience by continuously tracking and enhancing system performance. These technologies support businesses in locating performance bottlenecks, resolving them, ensuring high availability, and providing a seamless user experience. Organisations may improve customer happiness, loyalty, and retention by proactively addressing issues and reducing downtime.
Report Objectives
- To describe and forecast the Observability Tools and Platforms Market based on components (solution, and services), deployment type, verticals, and regions.
- To forecast the market size of five main regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
- To analyze subsegments with respect to individual growth trends, prospects, projections, and contributions to the total market
- To provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for major players.
- To comprehensively analyze the core competencies* of key players in the market
- To track and analyze competitive developments, such as product/solution launches and enhancements; business expansions; acquisitions; and partnerships, contracts, and collaborations, in the market.
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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