The global Application Performance Management market size was predicted to reach over USD 5.7 billion in 2020 and projected to grow at a CAGR of 10.5% over the forecast period 2021-2028.
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 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.
The report also emphasizes several distinctiveness of the global Application Performance Management industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the Application Performance Management industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The Application Performance Management market has tough competition among the new emerging and pre-established market vendors. Besides, the Application Performance Management industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
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.
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. Renowned companies are offering new and modern Application Performance Management software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of 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 Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South Americ