SANTA CLARA, Calif.--(BUSINESS WIRE)--Gigamon, the leading deep observability company, has been recognized as the leading vendor in the deep observability market in 2022 with 71 percent market share, according to the newly released report by market intelligence research firm 650 Group. The deep observability market continues to grow as organizations prioritize the need for increased visibility and enhanced security across hybrid cloud environments. According to 650 Group, revenue within the deep observability market is projected to reach $470M in 2023, up 60 percent from 2022. Furthermore, by 2027, the market is forecasted to reach $1.91B, a 52 percent compound annual growth rate (CAGR) with cloud and subscription-based offerings driving most of the revenue.
In parallel with the market, Gigamon has seen an increase in customer demand with the company gaining three percent market share in the second half of 2022 to garner 71 percent market share for the full year. This growth can largely be attributed to the shift in digital infrastructures coupled with economic turbulence, which has created new challenges around security, customer experiences, and operational overhead in managing hybrid and multi-cloud infrastructure. To combat these challenges, the Gigamon Deep Observability Pipeline efficiently delivers network-derived intelligence to cloud, security, and observability tools to help eliminate security blind spots and reduce tool costs. This powerful combination enables organizations to better secure and manage their hybrid and multi-cloud infrastructure.
Key findings from the newly released report include:
- The deep observability market revenue is projected to be $470M in 2023, with a revenue growth of 55 percent reaching $730M in 2024.
- Cloud-delivered deep observability offerings are projected to drive the highest revenue in the next four years reaching $945M by 2027.
- North America accounted for 59 percent of the market revenue in 2022 and is expected to continue to deliver most of the revenue through 2027, followed by Europe, and then Asia Pacific (excluding China).
“The broad shift toward hybrid and multi-cloud infrastructure has created a myriad of unforeseen security, performance and cost challenges for enterprise IT organizations, including gaps in the monitoring of network traffic, tool sprawl, and escalating management costs and complexity,” said Alan Weckel, founder and technology analyst at 650 Group. “Over the course of 2022, Gigamon extended its market leading position by leveraging its rich networking history to deliver a deep observability pipeline that extends the value of existing cloud, security, and observability tools and enables IT organizations to enhance business agility, ensure cloud security, and reduce cost and complexity.”
“We’re pleased to lead the deep observability market forward at a time when our customers must contend with both growing cyber threats and a turbulent macro-economic environment where they must do more with less,” said Shane Buckley, president and CEO of Gigamon. “Our deep observability pipeline is purpose built to help eliminate security blinds spots that log-based security tools simply cannot see while also enabling our customers to dramatically reduce the cost and complexity of the tools they rely upon to secure and manage their hybrid and multi-cloud infrastructure, the timing simply couldn’t be better.”
To learn more, 650 Group Observability research and be found here, and for more information about the Gigamon Deep Observability Pipeline visit the website and request a demo today.
Gigamon® offers a deep observability pipeline that harnesses actionable network-derived intelligence to amplify the power of observability tools. This powerful combination helps enable IT organizations to assure security and compliance governance, speed root-cause analysis of performance bottlenecks, and lower operational overhead associated with managing hybrid and multi-cloud IT infrastructure. The result: modern enterprises realize the full transformational promise of the cloud. Gigamon serves more than 4,000 customers worldwide, including over 80 percent of Fortune 100 enterprises, 9 of the 10 largest mobile network providers, and hundreds of governments and educational organizations worldwide. To learn more, please visit www.gigamon.com.
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About 650 Group
650 Group is a leading Market Intelligence Research firm for communications, data center, and cloud markets. Our team has decades of research experience, has worked in the technology industry, and is actively involved in standards bodies.