Managed Application Services Market Expected To Reach USD 16,441 Million By 2025 |Top Players such as -IBM,Fujitsu & HCL
The rise in demand for end-to-end application hosting services will increase the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, February 27, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Managed Application Services Market Expected To Reach USD 16,441 Million By 2025 |Top Players such as -IBM,Fujitsu & HCL.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global managed application services market size was USD 7,311 million in 2017, and is projected to reach USD 16,441 million by 2025, growing at a CAGR of 10.8% from 2018 to 2025.
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Rise in demand for end-to-end application hosting and need to improve & secure critical business applications drive the growth of the managed application services market. Furthermore, migration of applications and workload on cloud, surge in hybrid model adoption, and increase in demand for outsourcing of repetitive application maintenance tasks such as deploying patches and upgrades, monitoring of applications, are the major factors responsible for the growth of the market.
The global managed application services market is segmented based on service type, organization size, application type, industry vertical, and region. Based on service type, it is divided into operational services, application service desk, application hosting, application security & disaster recovery services, and application infrastructure. Based on organization size, the market is bifurcated into small and medium sized enterprises (SMEs) & large enterprises. Based on application type, the market is classified into web-based applications and mobile applications. Based on industry vertical, it is divided into telecom & IT, government, healthcare, BFSI, retail, energy & utilities, and others.
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Based on service type segment, the application hosting services segment led the managed application services market in 2017. However, the application infrastructure services segment is expected to witness the highest growth, owing to its increased need of managed application services to provide reliable services for middleware infrastructure.
The global managed application services market was led by the web-based application services in 2017 and is projected to maintain its dominance during the forecast period. However, the mobile-based application services are anticipated to witness the fastest growth, registering a CAGR of 13.5% during the forecast period.
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Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Some of the key players operating in the managed application services market include BMC Software, Inc., Rackspace US, Inc., DXC Technology Company, Fujitsu, HCL Technologies Limited, International Business Management (IBM) Corporation, Wipro Limited, Navisite (Spectrum Enterprise), Virtustream, and YASH Technologies.
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Key Findings Of The 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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