Application Performance Management Market

Global Application Performance Management Market (2024 to 2029)

The global application performance management market is predicted to reach USD 7.05 billion in 2024 and USD 11.99 billion by 2029, growing at a CAGR of 11.2% during the forecast period.

 The market value of application performance management is expected to increase more with the rising work-from-home trend around the world.

Global Application Performance Management Market Drivers:

Adoption in large enterprises is a major driving factor in the global Application Performance Management market growth rate. The enhanced capabilities of hybrid clouds, which are promoting the adoption of these APM systems into large enterprises, are acting as a principal element in the development of this industry, which is further supposed to propel the business in the coming years.

Enhanced security and data control are some of the growth-supporting factors in the application performance management market. Increasing awareness among smaller enterprises and demand for cost-effective systems are some other prominent aspects that propel the growth of the global Application Performance Management business in terms of revenue rate.

In addition, the increasing investments by companies from emerging economies such as India, Brazil, and China for new product innovation boosts the growth of the market for Application Performance Management. On the other hand, the high cost of manufacturing equipment hinders the growth of the worldwide Application Performance Management Market. Privacy issues are another major restraint affecting the market's expansion.

Impact of COVID-19 on the global application performance management market:

Due to the lockdown caused by the coronavirus, companies are forced to halt their manufacturing units for a period of time to eradicate the spread of COVID-19, which spread rapidly from one person to another. This situation may continue until the coronavirus vaccine has been released. However, enterprises are facing some difficulties because of the unexpected financial losses caused by the pandemic. They seek alternatives to bring back their business on the right path. However, it should take some time before everything returns to normal.

Coronavirus has impacted global industries in three ways: directly affecting production and demand, creating supply chain disruption, and having a financial impact on firms because of the strict lockdown implemented worldwide in developed and developing nations. As the lockdown has been relaxed in all the countries, with some strict regulations by the government authorities, all the industries have restarted their production units.

According to the analysis, the Application Performance Management market is expected to record a surge in revenue in the next few months due to increased demand from both inpatient needs and IT connectivity.

GLOBAL APPLICATION PERFORMANCE MANAGEMENT MARKET REPORT COVERAGE:

The global Application Performance Management market is segmented by platform type, deployment mode, vertical, user type, access type, and geography.

Global Application Performance Management Market - By Platform Type:

• Software 

• Services   

The Application Performance Management market is segmented into software and services. The services segment is further bifurcated into deployment and integration, training and education, support and maintenance. Among these, the services and satchel segment holds the major share of the market compared to others.

Global Application Performance Management Market - By Deployment Mode:

• On-Premises          

• Cloud        

• Hybrid  

The application performance management market is bifurcated into on-premises, cloud, and hybrid modes. Among these, the cloud mode segment holds the dominant share of the market.

Global Application Performance Management Market - By Vertical:

• Banking, Financial Services, and Insurance 

• Manufacturing      

• Government          

• Healthcare              

• Retail         

• IT and Telecom     

• Logistics   

• Media and Entertainment

• Education

The Application Performance Management market is segmented into banking, financial services and insurance, manufacturing, government, healthcare, retail, IT and telecom, logistics, media and entertainment, education, and other types of verticals.

Global Application Performance Management Market - By User Type:

• Small and Medium-Sized Businesses            

• Large Enterprises 

The application performance management market is bifurcated into two types, namely small and medium sized businesses and large enterprises.

Global Application Performance Management Market - By Access Type:

• Web          

• Mobile      

The application performance management market is segmented into web application performance management and mobile application performance management.

Global Application Performance Management Market - By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

The North American region holds the major share of the market due to the rapid rise in revenue rates, especially in the United States and Canada, which is also expected to continue over the projection period.

Asia Pacific region holds the second largest share of the market of Application Performance Management due to the increasing awareness among small enterprises and the surge in investments by public and private players in nations like China, Japan, India, and others.

The European region is expected to witness an increase in the market value of Application Performance Management because of the rising launch of new products by companies in this locale.

KEY MARKET PLAYERS

Some of the key players in the global Application Performance Management market are Compuware, Dell, Riverbed Technology, IBM, HP, CA Technology, Microsoft, AppDynamics, and New Relic.

RECENT MARKET DEVELOPMENTS:

• In April 2020, one of the major key players in the market, Ensono, released a new application performance management system that provides clients with an in-depth analysis of application performance, reducing downtime and increasing stability.

• In November 2019, SIG collaborated with GE Digital to deliver the first integrated APM and FSM digital solution for the food and beverage industry.