$16,441 Million Managed Application Services Market to Reach at 10.8 % CAGR | Technical Signs Point Higher Growth Levels
Managed application services offer expert IT professional methodologies to maintain, support, and enhance crucial applications of an organization.
WILMINGTON, DE, UNITED STATES, December 15, 2023 /EINPresswire.com/ — The global market for managed application services is on an upward trajectory, fueled by an increased demand for comprehensive application hosting. This surge can be attributed to the growing reliance on cloud infrastructure, the need to enhance and secure vital business applications, and the advancing sophistication of application infrastructure. Additionally, lucrative opportunities are expected to emerge from the rising complexity of applications and a shift in focus among in-house teams away from supporting legacy applications. Despite these favorable growth factors, challenges are anticipated, primarily linked to risks associated with application data security, which could potentially impede market expansion throughout the forecast period.
As of 2017, the global market size for managed application services stood at $7,311 million. Projections indicate a continued growth trend, with an expected market size of $16,441 million by 2025. This reflects a compound annual growth rate (CAGR) of 10.8% from 2018 to 2025.
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Key Findings Of TheGlobal Managed Application Services Market :
➢ The application infrastructure services segment is expected to exhibit significant increase in terms of revenue during the forecast period.
➢ In 2017, the large enterprises segment accounted for the highest revenue according to organization size segment.
➢ The BFSI industry vertical generated the highest revenue in 2017.
➢ Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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In 2017, the managed application services market was primarily dominated by the application hosting services segment within the service type category. Nevertheless, the segment experiencing the most substantial growth is projected to be the application infrastructure services. This is attributed to the growing demand for managed application services, particularly to ensure the reliability of services for middleware infrastructure.
Within the global managed application services market, web-based application services took the lead in 2017 and are expected to maintain their prominent position throughout the forecast period. However, the most rapid growth is anticipated in the mobile-based application services, with a forecasted Compound Annual Growth Rate (CAGR) of 13.5% during the specified period.
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In 2017, the dominant force in the market was primarily the segment of application hosting services. However, significant expansion is expected in the segment of application infrastructure services over the entire forecast period. Additionally, the Asia-Pacific region is positioned for a noteworthy surge in growth, fueled by a heightened demand for managed application services due to the escalating complexity of application infrastructure.
The focus of the report revolves around scrutinizing the market’s potential for growth and its limitations, with a particular emphasis on analyzing trends in the sector of managed application services. To comprehend the market’s evolutionary trajectory, the study employs Porter’s five forces analysis, evaluating the influence of factors such as the negotiating power of suppliers, competitive dynamics among peers, the threat posed by new market entrants, potential alternatives, and the negotiating power of buyers.
Key Market Players:
➢ BMC Software
➢ Rackspace US
➢ DXC Technology Company
➢ Fujitsu
➢ HCL Technologies Limited
➢ International Business Management (IBM) Corporation
➢ Wipro Limited
➢ Navisite (Spectrum Enterprise)
➢ Virtustream
➢ YASH Technologies
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Similar Report:
1. Cloud Managed Services Market
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