Error Monitoring Software Market size was valued at USD 185.8 million in 2023 and is expected to exceed USD 747.28 million by 2036, registering over 11.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of error monitoring software is assessed at USD 202.6 million. The increasing investments in test processes to detect errors, and the growing demand to provide error-free software in a short time are anticipated to act as the major growth drivers for the market. Moreover, the increasing adoption of automation in software development using various advanced technologies, such as, artificial intelligence and block chain are also estimated to boost the market growth. The use of error tracking software makes it easy to follow everything, from simple customer questions to comprehensive technical reports on bugs and errors. Additionally, this software provides users with the ability to report a problem or error, keep track of the progress of the resolution of the issue, and identify the problem solver. This is estimated to boost the market growth. Moreover, the use of the software saves time, and it permits the system manager to modify the tracking method for efficient workflow, which is anticipated to further promote the market growth. Additionally, the adoption of cloud-based solutions from on-premise software models, cost-effectiveness, and cost-efficient error monitoring software is being adopted by multiple enterprises globally, thus driving the error monitoring software market growth.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
11.3% |
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Base Year Market Size (2023) |
USD 185.8 million |
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Forecast Year Market Size (2036) |
USD 747.28 million |
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Regional Scope |
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The error monitoring software market is segmented based on deployment, into on-premise and cloud-based, out of which, the cloud-based segment is anticipated to grab the most significant share by the end of 2021, on account of flexibility, reliability, and security, offered by cloud-based software as compared to on-premise deployment. Moreover, cloud-based error monitoring software provides customized features needed as per the enterprise requirements, leading to segment growth.
Based on organization size, the small and medium-sized enterprises (SMEs) segment in the error monitoring software market are projected to grow with a significant CAGR over the forecast period. The segment is estimated to experience growth on the back of the fact that small and medium-sized enterprises account for the majority of the businesses globally and form the backbone of most of the economies worldwide.
Our in-depth analysis of the global market includes the following segments:
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Deployment |
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Organisation Size |
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Regionally, the error monitoring software market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is predicted to account for largest revenue share by 2036, owing to increasing advancement in cloud-based technologies and the adoption of 5G network in the region. Businesses in countries, such as, China, Japan, and Singapore are investing in cloud computing technology and error monitoring software, which is estimated to drive the market growth. Additionally, the increasing expenditure by the governments of various nations in automation and development of smart cities is estimated to boost the adoption of this software in various industries and sectors.
Furthermore, in 2021, the error monitoring software market in North America region is evaluated to occupy the largest share in terms of revenue. This can be attributed to the increasing adoption of software testing and debugging technology in the region. Moreover, the growing number of small and medium-sized enterprises in the region, especially in the United States, leads to the adoption of error monitoring software for efficient workflow. According to the data by the United States Trade Representative (USTR), there are 30 million small and medium-sized enterprises in the United States, which account for nearly two-thirds of net new private-sector jobs in the country in the past decade.
June 2021: Sentry, a subdivision of Functional Software, Inc., announced the launch of additional enhancements to its Jira and Azure DevOps integrations. The enhancements include customizable dashboards and updates to efficiently stay on top of their application code health from frontend to backend.
May 2021: Bugsnag, inc., an application stability management pioneer added new error monitoring capabilities to its integrations to drastically simplify application development, enabling organizations to drive more significant business results with an improved user experience.
Author Credits: Abhishek Verma
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