Asia-Pacific’s software development market is steadily growing due to strict regulations and more business processes requiring applications. The growth in software or application performance management (APM) is expected to continue as companies that use enterprise tools depend on high-quality and reliable apps.

According to a study by global consulting firm Frost & Sullivan, the APM market will hit $1.4 billion in 2020, a significant increase from earned revenues of $379.9 million in 2013. The key growth drivers are end users in the finance, banking, online retail and e-commerce, information technology (IT), and healthcare sectors.

Frost & Sullivan Information and Communication Technologies Research analyst Vu Anh Tien said companies who want to meet high customer expectations will invest in user-based, model-driven applications.

Tien added that some organizations already know the importance of going beyond infrastructure and network management to app management. The tech research analyst further said that an integrated approach toward APM and a convergence between network performance management and APM will be crucial to stay afloat in this rapidly changing market.