The global application performance management software market is anticipated to register growth over the forecast period. Increasing level of competition among businesses to solve, analyze and mend business processes is expected to drive the market over the next seven years. Application performance management (APM) provides several advantages as it helps in improved business integration, quick response time to deal with issues that can automate the system working. Presence of large number of vendors in the market coming up with various applications to overcome the aforementioned issue is anticipated to escalate product demand significantly over the forecast period.
Lack of awareness regarding the need to upgrade or maintain such applications as per client specific requirements coupled with inefficiency of using proper measures to maintain overall efficiency is the basic challenges faced by business. Application performance management software have the ability to overcome the aforementioned issue along with smoothening the working process, which is also expected to catapult product demand.
Complex application processes that often require high level of analysis may significantly elevate product demand. Additionally, benefits including enhanced user experience by presenting high quality of service achieved by monitoring each process level and increased productivity is anticipated to fuel growth. The ability to analyze vast amount of information in real-time coupled with increased speed and decreased overall time to solve issues is also expected to drive overall application performance management software industry growth.
Systematic implementation and saving on operational cost are factors expected to favorably impact the market growth. Increased adoption of APM platform by end-users to quantify performance and analyze potential for making better business decisions may further propel application performance management software demand.
Notable companies in the industry include CA Technologies, IBM, HP, AppDynamics, Oracle, Compuware, and Microsoft. Key industry participants emphasize on product and functional areas including end-user experience monitoring in order to achieve maximum competitive advantage. In the above context, key products offered by major companies in the market include HP Business Availability Center End User Management Business Process Monitor (BAC EUM BPM), CA Wily Customer Experience Manager (CEM), HP Business Availability Center End User Management Real User Monitor (BAC EUM RUM), and Oracle Real User Experience Insight (RUEI). Key market participants invest heavily in R&D to introduce SaaS approach into the management system for effective log management. Vendors also make efforts to incorporate predictive analytics and modeling in the APM software so as to offer maximum product differentiation in order to prevail the intense competition.
Manufacturers also focus on functional areas including user-defined transaction profiling and business transaction management. With reference to this, some high-end products offered by companies include 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.
The APM solutions primarily utilize IT, integrations and deployment, maintenance and support and other services to help companies increase and manage the performances of their business applications, thus facilitating revenue growth. Growing business complexities have instigated companies to introduce a gamut of applications and services that needs to be monitored and managed effectively for optimum return on investment. Further, rise of data analytics, mobile and cloud computing coupled with the growing need to improve visibility and control of performance have resulted in increasing adoption of APM software.
Additionally, other important capability while managing IT infrastructure in an application-centric manner is the ability to identify, diagnose and repair problems quickly, which is also anticipated to fuel application performance management software market growth over the forecast period. For example, Oracle APM suite can segregate aborted transactions throughout the technology stack, at the application level. These transaction management capabilities enable Oracle customers to reduce the number of hours and associated costs required to separate and detect delayed or aborted transactions, which paired with the resolution events will provide a lower mean time to resolution (MTTR).
Movement of business critical applications including CRM, order tracking and contract management to cloud is a trend expected to witness rapid acceptance over the forecast period. Further, enterprise applications require high scalability to cater to a base of large end-users. However, issues such as monitoring uptimes while ensuring improved business application performance. In order to resolve the above-mentioned issue, enterprises focus on strategic investments in application performance management software to empower their operations.
North America application performance management software market is estimated to be the largest regional market over the next seven years owing to presence of early technology adopters in the region. However, Asia Pacific is expected to witness healthy growth over the forecast period owing to rapid infrastructure development, growing industrialization and fast-developing corporate sector in the region.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.