Application performance management software is a combination of enterprise performance management (EPM) or corporate performance management (CPM. It helps an organization in its planning, budgeting, modelling, and forecasting activities through dashboard displays of enterprise performance data and real-time and predictive analytics. Application performance management software monitors and manages the organizational performance by analyzing key performance indicators such that individual and project performances can be improved in relation to organizational goals and strategies. This helps in increasing organizational profitability through effective strategizing and planning. Additionally, it gives an organization a competitive edge through forecasting, and internal and external insights.
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The growing need to track and analyze organizational performance, especially with huge data generated due to rising digitization among companies, has been driving the need for application performance management software globally. The increasing amount of data generated and recorded by organizations can be analyzed to track and scrutinize performance at all levels of the enterprise. With growing competition, there is an immediate need to gain a competitive and strategic edge over competitors. Through application performance management software, businesses gain the insights needed for quick-decision-making and strategic advantages, which is an add-on feature in such software. Additionally, growing volumes of business and customer data generated by organizations find application in this software, thus emphasizing the need for application performance management software. Furthermore, this software satiates the needs of a business for a holistic process that links key performance metrics with organizational goals such that they are aligned to the objective of maximizing profitability. This is further bolstering the demand for application performance management software globally. Additionally, the ease of accessibility offered through cloud-based systems is also fuelling growth of the application performance management software market. However, operating the software requires adequate training. Further, adopting a consistent and effective application performance management software is a huge concern for organizations. Such challenges in the adoption of this software are obstructing the growth of the application performance management software market. Nevertheless, customization in this software is expected to present potential growth opportunities during the forecast period.
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The global application performance management software market can be segmented on the basis of deployment, organization size, end-use vertical, and geography. As per deployment, the market has been categorized into cloud and on-premise. In terms of organization size, the market has been categorized into small & medium enterprise (SME), and large enterprise. Based on end-use industry, the market has been segmented into IT and telecom, BFSI, retail, manufacturing, healthcare, and others.
The global application performance management software market is segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to hold a prominent share in the global application performance management software market. This dominance is primarily due to the presence of many global players in this region especially in the U.S. and Canada. Europe is also forecast to have a significant position in terms of market share. This trend can be attributed to the increasing focus on innovations obtained from research and development and IT technologies in the developed countries. Furthermore, Asia Pacific is expected to emerge as the fastest growing market in the years from 2018 – 2026. High adoption of application performance related solutions along with the growing adherence toward regulatory compliances are some of the factors driving the Asia Pacific application performance management software market. Growing economies in the Asia Pacific region such as India and China are inviting global players to their local markets which is supporting the growth of the application performance management software market in the region.
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Companies are strengthening their position through merger & acquisition and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. Furthermore, application performance management software market solution providers are planning to invest in advanced technologies such as artificial intelligence with a target to provide cost competitive products in the market in the near future.
The major vendors that offer application performance management software market solutions and services across the globe include SAS Institute Inc., SAP SE, Oracle Corporation, International Business Machines Corporation, Adobe Systems Incorporated, Salesforce.com, Microsoft Corporation, JDA Software Group, Inc., Infor, Fair Isaac Corporation, and Webtrends.
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