Cloud Service Assurance Market Overview
Companies are offering contextual, autonomous cloud solutions that enhance enterprise IT service outputs via performance management and end-to-end configuration capabilities. Self-learning operational models improve service quality by predicting storage, processing and usage requirements, and facilitating cloud-to-cloud capacity upgrades.
Such companies are offering cloud computing portfolio with cloud service assurance solutions for native and hybrid cloud infrastructures. Cloud service assurance solutions identify root causes of performance issues and offer actionable insights to resolve the issues.
Cloud orchestration, cloud governance and advanced algorithms for cloud service assurance ease configuration management for enterprises, while preventing application and service outages. Cloud service assurance solutions leverage software development and IT operations (DevOps) automation, along with usage analytics, to facilitate resources as per demand.
Automated monitoring and provisioning of cloud enhances user experience and improves service management.
Cloud Service Assurance: Market Dynamics
Digital transformation is reforming enterprise operations that require monitoring, management of storage capacities and data security. Reforms in such capabilities improve operational productivity for end-users. Strategy consultants, business operations analysts and cloud computing solution and service providers are focusing on every aspect of procurement direction end-users might choose while incorporating a cloud computing strategy.
Underlying cloud infrastructure and service has come to a point where uptime is the most expected feature. End-users are finding it difficult to choose cloud solution and service providers based solely on claims of staffing support, available software packages, or data center space. Companies are now expected to include cloud service assurance techniques that the cloud solution and service providers adhere to.
End-users are focusing on integrating their infrastructure into cloud in order to enhance archival capabilities and ensure quick data access. End-users move their critical data to cloud-based storage to facilitate quick archival and retrieval of data.
However, such end-users are facing data security concerns while migrating their critical data to cloud infrastructure. Such challenges have an adverse impact on the attractiveness of cloud computing solutions and services, thus restricting the growth of cloud service assurance market during the forecast period.
Impact of Ongoing COVID-19 Pandemic on Cloud Service Assurance Market
Well-established large enterprises are estimated to continue adopting cloud service assurance among cloud computing services to enhance operations monitoring and performance related issue resolution. This procurement may be owed to nationwide lockdowns implemented by national governments across the world.
Small and mid-sized enterprises with low IT budgets are expected to accelerate investments in standalone cloud computing features and tools in order to deal with infrastructural issues arising due to operations being off-site. Enterprise software spending is likely to increase as demand for trending as well as upcoming technologies is estimated to increase at approximated rate of 15%, over the forecast period.
Cloud Service Assurance Market: Regional overview
Cloud service assurance market in North America was the dominant market in 2019 in terms of market value. Over the forecast period, cloud service assurance market in the U.S. is likely to be the most attractive market in terms of sustainable revenue generation.
Increasing demand for cloud service assurance in the U.S. may be owed to constant upgrades implemented into the cloud technology to enhance enterprise digital rights management and data management platforms.
Accelerated adoption of cloud computing tools and services will enable the Southeast Asia Pacific regional market to register the fastest growth rate during the forecast period. Cloud service assurance market in Europe is expected to offer the highest absolute opportunity by the end of the forecast period.
The strong growth rates in Europe and Southeast Asia Pacific region may be owed to booming telecommunication and IT industry in economies like Spain, France, India and ASEAN countries.
Cloud Service Assurance Market: Competition Landscape
Some of the key competitors in the global cloud service assurance market are Infosys Limited; Broadcom; Telefonaktiebolaget LM Ericsson; Hewlett Packard Enterprise Development LP; NEC Corporation; AMDOCS; Accenture; Comarch SA; Huawei Services (Hong Kong) Co., Limited; Nokia; and IBM, among others.
Following are some key tactics incorporated by the key players competing in the global cloud service assurance market:
- Vendors are focused on expanding their intellectual property and product offerings by acquiring innovative technologies from businesses. Internal research and development professionals are granted technical control over product design and development.
- Market players are focusing on the development of data archival and related security solutions. Constant expansion of data archival and related security offerings enable these companies to efficiently cater to their clientele.
The cloud service assurance market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
- Cloud Service Assurance Market Segments
- Cloud Service Assurance Market Dynamics
- Cloud Service Assurance Market Size
- Supply and Demand
- Current Trends/Issues/Challenges
- Competition and Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- Market Drivers and Restraints
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
- East Asia (China, South Korea, Japan)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Res of MEA)
Cloud Service Assurance Market: Segmentation
Enterprise Size :
- Large Enterprises
- Small- and Medium-sized Enterprises (SMEs)
- Healthcare and Medical
- IT and Telecommunication
- Government and Public Sector
- Retail, e-commerce and Wholesale
- Media and Entertainment
- Professional Services
- Banking, Financial Services and Insurance (BFSI)