Asset performance management (APM) refers to a set of technological tools and apps designed to improve the efficiency and usability of physical assets that are critical to an organization's operations. The integration of APM applications in the industry helps to improve physical asset availability and reliability. Furthermore, it reduces operational costs and risk factors in the business.
Improving the efficiency, productivity and performance of machines, increasing the adoption of computers and mobile and cloud storage, increasing the demand for big data analytics, increasing the adoption of automation and the need to manage logs in various industries and increasing the complexity of applications. Key and important factors that can promote application development. On the other hand, the growing need for end-user satisfaction for successful digital business operations, as well as rising levels of investment by public and private organizations, will all contribute to the growth of the application performance management market in the aforementioned project.
The global Application Performance Management market size was estimated to reach over USD 5.7 billion in 2020, and projected to grow significantly with a CAGR of 10.5% over the forecast period. The global demand for application performance management is being driven by the increasing adoption of mobile and cloud computing and storage. The global application management performance market is being propelled forward by rising demand for big data analytics. The rising worldwide healthcare business will drive demand for application performance management solutions in the next years, thanks to the emerging practice of preserving digital patient healthcare data.
Lack of knowledge among end users, as well as increased use of traditional approaches, will likely function as market barriers for the application performance management market growth in the forecasted timeframe. The lack of real-time application visibility, along with changing business demand, will be the market's biggest and most pressing obstacle.
Application Performance Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 5.7 billion|
|Growth Rate||CAGR of 10.5% during 2021-2028|
|Segment Covered||Component, Deployment Model, Organization Size, Industry Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||CA Wily Introscope, HP Business Process Insight (BPI), HP, Transaction Vision, Oracle SOA Management Pack EE (Enterprise Edition), Oracle WebLogic Server Management Pack EE (Enterprise Edition), and Oracle Management Pack for Non-Oracle Middleware.|
Key Segments of the Global Application Performance Management Market
Component Overview, 2019-2028 (USD Million)
Deployment Model Overview, 2019-2028 (USD Million)
Organization Size Overview, 2019-2028 (USD Million)
- Large Enterprises
- Medium and Small Enterprises
Industry Vertical Overview, 2019-2028 (USD Million)
- IT & Telecom
- Retail and E-commerce
- Government and Public Sector
- Media and Entertainment
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Application Performance Management market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Application Performance Management market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Application Performance Management industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on component, deployment model, Organization Size and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Application Performance Management market. The report will benefit every stakeholder involved in the Application Performance Management market.
- Managers within the Application Performance Management industry looking to publish recent and forecasted statistics about the global Application Performance Management market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Application Performance Management market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
The rising popularity of hybrid cloud deployment is having a significant impact on market growth. The cloud-based deployment model is expected to expand at a faster rate due to the existence of significant players such as SAP, Oracle, and others providing cloud-based models, as well as increasing product launches, which will impact the market growth rate during the forecast period 2020-2025. Large-scale organizations benefit from hybrid cloud models because they simplify operations, increasing adoption rates.
The increasing implementation of application performance management is likely to fuel the market growth rate as demand for big data analytics grows. As a growing number of businesses deploy distributed computing systems, modern APM is poised to serve a critical role in supporting analytics, machine learning, and other applications that run across multiple platforms. The APM is heavily utilized in data analytics, accelerating the market growth rate during the projected period, owing to the rising adoption of AI and automation in industrial processes.
Based on the component segment, the market is classified into services, and Software. Data management software, predictive asset analytics tools, enterprise asset management software, and pattern recognition software are all subcategories of software. Services are further subdivided into deployment and integration, training and education, and support and maintenance.
Deployment Model Segment
Based on deployment mode, the cloud segment is expected to grow at a higher CAGR in the market during the forecast period, owing to the increasing adoption of a cloud-based Software such as Software-as-a-Service among organizations, owing to its ease of access. Furthermore, it has several advantages over on-premises Softwares, including high scalability, low cost, simple implementation, and adaptability. Small and medium-sized businesses are increasingly embracing cloud Softwares due to their low cost, round-the-clock support, and ease of maintenance.
Organization Size Segment
Based on the Organization Size, the market is segmented into Large Enterprises and Medium and Small Enterprises. Large organizations, which deal with a lot of data, are dominating the industry in 2019. With the massive amount of data generated in these companies, the deployment of consumer analytics and business analytics is undoubtedly affecting market growth rates. Furthermore, large-scale organizations place a premium on location intelligence, data governance, and corporate planning, resulting in the segment's use of advanced analytics.
Industry Vertical Segment
In 2019, the BFSI industry is expected to hold the largest market share, followed by the retail sector. The gradual trend toward installing cloud models for data storage in banks is undoubtedly contributing to cloud adoption. Cloud storage, on the other hand, has raised further security issues, prompting institutions to use a hybrid architecture for data management. In November 2019, IBM released a public cloud platform designed specifically for banking needs and regulatory compliance. As a result of the increasing number of product launches and the adoption of the hybrid model in banking, the market growth rate is expected to slow.
North America leads the global application performance management market due to the presence of major players in the region, as well as a significant amount of research and development activity in the application performance management region, which is fueling market growth.
As increasing organizations in the region acknowledged the need of reliable and high-performing applications in the corporate business environment, the Application Performance Management (APM) market in Asia Pacific maintained its high growth momentum in 2015. Japan and Singapore remained the region's key markets, with markets such as Greater China, India, and South Korea experiencing rapid growth. Southeast Asia is a growing potential APM market vendor in the coming years.
The major players of the global Application Performance Management market are CA Wily Introscope, HP Business Process Insight (BPI), HP, Transaction Vision, Oracle SOA Management Pack EE (Enterprise Edition), Oracle WebLogic Server Management Pack EE (Enterprise Edition), and Oracle Management Pack for Non-Oracle Middleware. These players have adopted various strategies, such as new product launches, partnerships, agreements, collaborations, mergers & acquisitions, and business expansions to cater to the needs of the Application Performance Management market. Renowned companies are offering new and modern Application Performance Management Services Softwares. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and Softwares and to remain competitive in the global market.