Artificial Intelligence
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 – Figures210 – Pages
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Scope of the Report:
Report Metrics
Details
Market size available for years
2019-2021
Base year considered
2022
Forecast period
2023-2028
Forecast units
Value (USD Million/Billion)
Segments covered
Components (Solution and Services), Deployment Type (Public Cloud, and Private Cloud), Vertical, and Regions
Regions covered
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America
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.Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=69804486
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 AmericaTo analyze subsegments with respect to individual growth trends, prospects, projections, and contributions to the total marketTo provide detailed information about major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo 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 marketTo track and analyze competitive developments, such as product/solution launches and enhancements; business expansions; acquisitions; and partnerships, contracts, and collaborations, in the market.Browse Adjacent Markets: Software and Services Market Research Reports & Consulting
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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Artificial Intelligence
LambdaTest launches LambdaTest extension for GitHub Copilot to make test automation pervasive across SDLC and drive developer productivity
NOIDA, India and SAN FRANCISCO, May 22, 2024 /PRNewswire/ — LambdaTest extension for GitHub Copilot enables AI-powered bridge experiences by seamlessly integrating test and dev workflow. It acts as a test automation copilot, assisting developers with quality assurance capabilities across different stages in SDLC, right where they code.
May 22, 2024, Noida/San Francisco: LambdaTest, a leading cloud-based unified testing platform, announced the launch of the LambdaTest extension for GitHub Copilot. This innovative capability revolutionizes the way developers manage and execute test workflows within their integrated development environments (IDEs).
The LambdaTest extension seamlessly integrates with GitHub Copilot Chat bridging the gap between development and testing workflows. Developers can now trigger test execution directly from their GitHub and VS Code environment, eliminating the need to switch between multiple applications. This streamlined process enhances productivity and accelerates software delivery.
With LambdaTest extension, developers can initiate tests effortlessly with a simple command, bringing testing closer to their code. This capability not only saves time but also enhances collaboration among development and testing teams by providing a unified platform for managing quality software releases, faster.
Moreover, real-time feedback integrated into GitHub Copilot empowers developers to iterate more efficiently, at speed, ensuring the quality and stability of their codebase. By conveniently viewing regression run results within their coding environment, developers and testers can quickly identify and address potential issues or bugs, facilitating faster resolution and delivery of high-quality software.
“LambdaTest Extension for GitHub Copilot is a huge milestone in our commitment to enable devs and QA processionals worldwide with frictionless experiences to accelerate software delivery.,” said Mohit Juneja, VP, Strategic Sales and Partnerships, LambdaTest. “Gone are the days of switching between multiple applications; now, developers can design, trigger, and analyze tests with simple prompts in natural language, without switching context from the IDE.”
The benefits of the LambdaTest extension extend beyond just test execution. It also offers powerful analysis tools, allowing developers to dive deep into test data, identify trends, and make data-driven decisions to continuously improve code quality and stability.
LambdaTest remains committed to driving innovation in the field of software testing, and this capability is another testament to that commitment. By providing developers and testers with tools to streamline processes and deliver high-quality software efficiently, LambdaTest continues to support and empower software development teams worldwide.
The LambdaTest extension for GitHub Copilot is now available for developers and testers. To learn more and get started, visit https://github.blog/2024-05-21-introducing-github-copilot-extensions
About LambdaTest LambdaTest is an intelligent and omnichannel enterprise execution environment that helps businesses drastically reduce time to market through Just in Time Test Orchestration (JITTO), ensuring quality releases and accelerated digital transformation. Over 10,000+ enterprise customers and 2+ million users across 130+ countries rely on LambdaTest for their testing needs.
Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 3000+ different browsers, real devices, and operating system environments.HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.For more information, please visit, https://lambdatest.com
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Artificial Intelligence
DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions
Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.
“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Artificial Intelligence
Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.
Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.
A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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