Application performance monitoring (APM) is a software that assists organizations in preventing and forecasting software-related issues before they have an influence on personal or commercial businesses, as well as end-users such as BFSI, IT & telecom, healthcare, and others. Advancements in IT infrastructure, Internet of Things (IoT), and cloud computing technologies have encouraged several organizations to move their focus on providing a good end-user experience for their web and mobile applications. This factor increases the demand for APM platforms.
The application performance monitoring market competitiveness is mainly boosted by several software applications being launched every day. Additionally, numerous applications are available for a single task. However, the performance of any application is critical to its success. A well-performing application offers clients with an excellent user experience.
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Increase in Adoption of Advanced Technologies Driving Global Application Performance Monitoring Market
Organizations are adopting advanced technologies such as big data analytics and machine learning to analyze the large volume of data and generate visualization insights to enhance the user experience. Furthermore, companies are adopting cloud technologies due to easy deployment, low maintenance, low financial investments in physical infrastructure, and considerable progression in data sharing technologies.
The adoption of these technologies provide support to APM platforms to analyze and improve the presentation of application monitoring tools. For instance, Nexthink, a Switzerland-based IT and software company, focuses on monitoring and improving employees’ experience by using artificial intelligence-driven analytics, sentiment gathering, and automated remediation.
Enterprises can understand the immediate needs of their customers and deliver the right content through various digital channels with the help of these advanced technologies. Additionally, APM platforms offer many advantages such as incorporated advanced analytical capability, client activity monitoring, and seamless integration with the existing framework.
Key market players are focusing on further improving their application performance monitoring platforms by investing resources in advanced technologies, such as machine learning (ML), artificial intelligence (AI), and Big Data analytics. This factor is likely to increase the application performance monitoring market size during the forecast period.
Rise in Proliferation of Cloud Computing Boosting Demand for Application Performance Monitoring Software
Monitoring has increased over the last decades, as advancements in digital technologies have changed the way the world interacts with applications, websites, and services. According to Catchpoint, a U.S.-based software company, there is drastic change in technologies such as cloud computing, edge computing (CDN, DNS, load balancing, WAF, SDWAN, etc.), and server-side and client-side rendering. The need for real-user monitoring (RUM) and synthetic transaction monitoring (STM) is growing rapidly for evaluation purposes. For instance, Catchpoint offers a cloud computing solution to monitor and analyze user experiences, and understand several problems such as app crashes, third-party components, and cloud stack with new features that enhance customer expectations.
Organizations are expected to deploy application performance monitoring platforms to prioritize performance problems and also optimize their user experience. These factors are expected to drive the application performance monitoring market in the upcoming years.
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Regional Outlook of Global Application Performance Monitoring Market
Asia Pacific is expected to account for a prominent share of the global application performance monitoring market by 2022. Developments across IT industries and increasing adoption of APM solutions among SMEs and large enterprises are significant factors propelling the market in the region. Additionally, rise in adoption of mobile and cloud technologies by various small- and medium-sized companies is driving the application performance monitoring market in the region. Development of infrastructure in countries such as China, India, Japan, and Singapore has been opening new business avenues for vendors, thereby fueling the market growth in the region.
The application performance monitoring market in North America is expected to grow at a notable CAGR during the forecast period. The consistent rise in demand for digital experience monitoring (DEM) solutions from various sectors, such as IT & telecom, BFSI, retail, and healthcare, is boosting the application performance monitoring market in the region. Rise in need to monitor end-user and customer experience across multiple channels is also expected to fuel the market in the region.
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Analysis of Key Players in Global Application Performance Monitoring Market
In the global application performance monitoring market report, individual strategies, followed by company profiles of the market are discussed. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global application performance monitoring market. The key players included are Dynatrace LLC, Datadog, New Relic, Inc., Cisco System Inc., Splunk Inc., SolarWinds Worldwide, LLC, Aternity LLC, Broadcom Inc., Catchpoint Systems, Inc., Microsoft Corporation, Micro Focus, ManageEngine (Zoho Corporation Pvt. Ltd.), Instana (IBM Corporation), and Elasticsearch B.V.
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