Application Performance Monitoring Market Outlook 2031
The global application performance monitoring market size was valued at USD 7.15 Billion in 2022 and is anticipated to reach USD 21.14 Billion by 2031, expanding at a CAGR of 12.8% during the forecast period, 2023–2031. The growth of the market is attributed to increasing demand for cost-effective systems.
Application performance monitoring (APM) is described as the deployment of software systems at various levels in order to boost efficiency and productivity. APM also aids in the analysis of large amounts of data in order to fix problems fast.
Application developer’s primary goal is to assess, find, and quantify an application's performance, and to eliminate any factors that are generating issues. Telecommunications, government, media & entertainment, and healthcare are just a few of the businesses that employ APM software. Monitoring is often used in internet, mobile apps, and commercial display applications.
Monitoring use cases have expanded to include the services, processes, logs, hosts, networks, and end-users who use these applications, including a company's customers and workers, in today's increasingly linked digital world.
The recent outbreak of COVID-19 pandemic affected people health, businesses and disrupt the global economy. The application performance management market is likely to acquire considerable share due to increasing demand for IT connectivity and network bandwidth. Therefore, the application performance management solutions play a pivotal role during the pandemic.
Application Performance Monitoring Market Trends, Drivers, Restraints, and Opportunities
- Increasing need for customers satisfaction for successful digital business operations is expected to drive the market.
- Rising level of competition among businesses to solve, analyses and mend business processes is projected to propel the market during the forecast period.
- Lack of awareness among end-users is anticipated to hinder the market.
- Increasing funding cost is expected to hamper the market in the coming years.
- Rising research and development activity is projected to create lucrative opportunities for market players.
Scope of Application Performance Monitoring Market Report
The report on the global application performance monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Application Performance Monitoring Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Solution Types (Services and Software), Deployment Types (Cloud-based, On-premise, and Hybrid), and End-users (Media & Entertainment, Academics, IT & Telecommunications, Government, E-Commerce, Manufacturing, Healthcare, Retail, BFSI, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Dynatrace LLC; IBM Corp.; New Relic Inc.; AppDynamics; and Broadcom Inc.
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Application Performance Monitoring Market Segment Insights
Solution Types Segment Analysis
On the basis of solution types, the application performance monitoring market is segmented into services and software. The services segment is projected to expand at a considerable CAGR during the forecast period, as services offeres performance metrics for applications.
The software segment is anticipated to account for a major market share during the forecast period, owing to rising technological advancement and development in application performance monitoring.
Deployment Types Segment Analysis
Based on deployment types, the market is divided into cloud-based, on-premise, and hybrid. The cloud-based segment is expected to hold a significant share of the market in the coming years, due to increasing demand for cloud and mobile computing. The on-premise segment accounts for a significant market share, owing to rising advancements in APM analytics.
End-users Segment Analysis
On the basis of end-users, the application performance monitoring market is segregated into media & entertainment, academics, IT & telecommunications, government, e-commerce, manufacturing, healthcare, retail, BFSI, and others.
The media & entertainment segment is anticipated to expand at a substantial CAGR during the forecast period, owing to increasing need for customer satisfaction. The e-commerce segment is expected to hold a significant share of the market, to provide customer application stability and uptime.
Regional Analysis
In terms of regions, the application performance monitoring market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, owing to rising presence of many key players in the region.
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to increasing proliferation of mobile and cloud computing.
Segments
The global application performance monitoring market has been segmented on the basis of
Solution Types
Deployment Types
- Cloud-based
- On-premise
- Hybrid
End-users
- Media & Entertainment
- Academics
- IT & Telecommunications
- Government
- E-Commerce
- Manufacturing
- Healthcare
- Retail
- BFSI
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global application performance monitoring market are Dynatrace LLC; IBM Corp.; New Relic Inc.; AppDynamics; and Broadcom Inc. Key players are focusing on offering developments and advanced features to sustain the position in the competitive market. SIG provided the first integrated APM and FSM digital solution for the food and beverage industry, in conjunction with GE Digital, in November 2019.
Ensono introduced a new application performance management (APM) product in April 2020 that gives clients with in-depth analysis of application performance while minimizing downtime and increasing stability. Its real-time visibility into performance enables application bottlenecks to be removed, inefficiencies to be eliminated, and a world-class end-user experience to be delivered.
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