No. Azure Monitor is a scalable cloud service that processes and stores large amounts of data, although Azure Monitor can monitor resources that are on-premises and in other clouds.

Azure Monitor is highly customizable and designed to support a wide range of workloads, including VMs, containers, applications, and hybrid environments. Visualization is also flexible, with options like Azure Workbooks, Azure Managed Grafana, and Azure Monitor dashboards for Grafana (preview) designed to meet the complex needs of different workloads.

Please see details on the pricing page