The application performance management market was valued at US$4.629 billion in 2017 and is projected to reach US$8.773 billion by 2023 exhibiting a CAGR of 11.25% during the forecast period.
Application Performance Management (APM) allows the deployment of software systems at various levels of the delivery chain in order to measure and increase the productivity of the work process. It also helps to analyze big data on real-time basis and thus, solve any issue faced by the user quickly.
Growing adoption of mobile and cloud computing & storage is driving the demand for application performance management worldwide. Rising demand for big data analytics is further propelling the growth of global application management performance market. Due to the emerging trend of keeping digital patient healthcare records, growing global healthcare industry will also spur the demand for application performance management solutions in the coming years.
Furthermore, growing adoption of automation and need for log management in various industries will also boost the market growth. Increasing business services such as e-commerce and online loan processing will provide a great opportunity for the expansion of application performance management market across the globe. However, lack of awareness and complex application designs will restrain the market growth during the forecast period.
Key industry players in application performance market are International Business Machines (IBM), Compuware Corporation, Dell Software, AppDynamics, and Riverbed Technology among others.