Overview and Scope
Application performance monitoring (APM) is the process of keeping track of the performance of mission-critical applications using software tools and telemetry data. These tools gather information from multiple sources, including application logs, metrics, and traces, and use this information to locate and resolve performance problems.
Sizing and Forecast
The application performance monitoring market size has grown rapidly in recent years. It will grow from $8.56 billion in 2023 to $9.66 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to increasing complexity of it environments, growing demand for user satisfaction, rise in digital transformation initiatives, risk mitigation and downtime prevention, increasing application complexity..
The application performance monitoring market size is expected to see rapid growth in the next few years. It will grow to $15.49 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to growing emphasis on cloud computing, proliferation of microservices architecture, focus on proactive performance management, globalization and distributed workforces, integration with devops practices.. Major trends in the forecast period include rise of observability platforms, application security integration, adoption of real-time analytics, focus on business impact analysis, collaboration with devops practices..
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Segmentation & Regional Insights
The application performance monitoring market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: Cloud, On-Premises
3) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Synthetic Monitoring, End-User Monitoring, Mobile Monitoring, Other Applications
5) By End-User: Banking Finance And Insurance (BFSI), IT And Telecom, Retail And E-Commerce, Healthcare, Education, Media And Entertainment, Manufacturing, Other End-Users
North America was the largest region in the application performance monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the application performance monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The surging demand for cloud and mobile computing is expected to propel the growth of the application performance monitoring market going forward. Cloud computing refers to distributing different computing services via the internet, such as storage, processing power, and apps. In contrast, mobile computing is the capacity to access and interact with digital information and services via portable devices. Application Performance Monitoring (APM) is an essential aspect of cloud and mobile computing, as it helps ensure that applications perform optimally and deliver a great user experience. For instance, in December 2021, according to an article published by Eurostat, a Luxembourg-based statistics body for the European Union, 41% of organizations reported using cloud computing services in 2021, a 5.0 %age-point (pp) rise from 36% in 2020. Therefore, the surging demand for cloud and mobile computing will drive the application performance monitoring market.
Key Industry Players
Major companies operating in the application performance monitoring market report are International Business Machines Corporation (IBM), Oracle Corporation, Wavefront Technology Solutions Inc., Splunk Inc., Micro Focus International PLC, Datadog Inc., Dynatrace Inc., Elastic NV, Quest Software Inc., New Relic Inc., Riverbed Technology LLC, SolarWinds Corp, Ensono Limited., Nexthink SA, AppDynamics, Coralogix Ltd., AppNeta Inc., Honeycomb.io, Catchpoint Systems Inc., Lightstep Inc., Aternity Inc., Site24x7, Nagios Enterprises LLC, Sematext Group Inc., Prometheus Group Enterprises LLC
The application performance monitoring market report table of contents includes:
1. Executive Summary
2. Application Performance Monitoring Market Characteristics
3. Application Performance Monitoring Market Trends And Strategies
4. Application Performance Monitoring Market – Macro Economic Scenario
5. Global Application Performance Monitoring Market Size and Growth
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31. Application Performance Monitoring Market Other Major And Innovative Companies
32. Global Application Performance Monitoring Market Competitive Benchmarking
33. Global Application Performance Monitoring Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Application Performance Monitoring Market
35. Application Performance Monitoring Market Future Outlook and Potential Analysis
36.Appendix
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