Application Management Services Market Forecast | Industry Size to Hit USD 94.79 Billion by 2030 at Growth Rate of 19.1%
The market for application management services is experiencing growth due to the growing adoption of cloud computing and Software-as-a-Service (SaaS) models.
PORTLAND, PORTLAND, OR, UNITED STATES, April 12, 2023 /EINPresswire.com/ — Application Management Services Industry Introduction:
The size of the global application management services market was estimated at $17,120 million in 2020 and is expected to increase by 19.1% between 2021 and 2030 to reach $94,786 million by 2030.
Over the past few decades, consumer preferences have changed, and in recent years there has been a significant shift towards buying goods and services online. Global consumer internet shopping demands increased during the COVID-19 lockdowns. Online merchants saw an increase in sales of more than 15% in the US alone.
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Application Management Services (AMS) refers to the management of software applications throughout their lifecycle, including development, maintenance, and support. The AMS market has been growing steadily in recent years due to several drivers. Firstly, the increasing adoption of cloud computing and Software-as-a-Service (SaaS) models has led to a rise in the number of applications used by businesses. This has created a demand for AMS providers to manage these applications and ensure they are running efficiently.
Secondly, the need for businesses to focus on their core competencies has led to outsourcing of non-core functions such as application management. AMS providers offer expertise in managing applications, allowing businesses to focus on their core operations and increase productivity. Thirdly, the increasing complexity of applications and the need for specialized skills to manage them has made it challenging for businesses to manage their applications in-house. AMS providers offer specialized expertise and resources to manage complex applications, reducing the burden on businesses. Lastly, the need for cost-effective solutions and predictable costs has made AMS an attractive option for businesses. AMS providers offer flexible pricing models, allowing businesses to pay for only the services they need, reducing overall costs.
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The Application Management Services (AMS) market is witnessing several trends that are shaping its growth and evolution. One of the key trends is the increasing use of automation and artificial intelligence (AI) in application management. AMS providers are leveraging these technologies to automate routine tasks, reduce manual intervention, and improve efficiency. Another trend is the growing demand for cloud-native application management services. As more businesses move their applications to the cloud, AMS providers are offering services that are optimized for cloud environments. This includes services such as cloud migration, cloud-native application development, and cloud-based application monitoring and management.
The AMS market is also witnessing a shift towards outcome-based pricing models. This means that AMS providers are increasingly being paid based on the outcomes they deliver, rather than on a per-hour or per-project basis. This puts the onus on the provider to deliver measurable results and value to the client. Security is also becoming a critical concern for businesses, and AMS providers are responding by offering enhanced security services. This includes proactive monitoring, threat detection, and incident response services to mitigate risks and ensure the security of client applications. Finally, the AMS market is becoming more competitive, with new players entering the market and established players expanding their offerings. This is leading to increased innovation and a wider range of services being offered to clients.
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Some of the key companies mentioned within the application management services industry are Accenture plc, Amazon Web Services, Inc., Dell Inc., Google LLC, HCL Technologies, Infosys Limited, International Business Machines Corporation, Micro Focus, Oracle Corporation, SAP SE.
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