- The complexity of IT environments and the need for customer satisfaction and risk mitigation are driving the application performance monitoring market.
- Further growth spurred by the increasing complexity of applications, cloud computing and microservices architecture.
- Digital services heightened by the pandemic compel businesses to invest more in performance monitoring tools.
- Incorporation of AI and machine learning enhance efficiency in application performance monitoring.
- The predicted market growth can improve and modernize DevOps practices.
As the pace of digital evolution continues to accelerate, the nerve center of this transformation is the demanding IT environments that work tirelessly to keep up with this dynamic, tech-involved environment. With these intricate networks continually evolving, innovative solutions are crucial in maintaining their peak performance. This growing necessity is witnessed in the expanding market for application performance monitoring (APM), with The Business Research Company's Global Market Report 2023 predicting the global APM sphere to expand to a staggering $15.49 billion by 2028.
Digging deeper into the significance of APM, it's essential to approach this through the lens of value-based management (VBM). VBM is grounded on the principle that the ultimate target of a company is maximizing shareholder value. Thus, resources allocated for IT, such as APM tools, play instrumental roles in building enduring shareholder value by elevating client experience and organizational efficiency. These factors reinforce the escalating admiration and usage of APM technology in the VBM framework.
Drawing evidence from changes observed in DevOps procedures, modern applications' inborn complexities complimented with the ubiquity of cloud computing and microservices infrastructures have warranted a change in their traditional work method. This required evolution can be witnessed in the 2017 State of DevOps Report, declaring that high-performing IT entities adopting DevOps and APM bounce back 24 times quicker from IT incidents, along with experiencing a decline in change failure rates by threefold.
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