Managed Application Services Market Size to Exceed USD 16,441 Million by 2025 | CAGR of 10.8%
WILMINGTON, DE, UNITED STATES, November 30, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled,” Managed Application Services Market by Service Type, Organization Size, Application Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 – 2025″.
The global managed application services market was valued at $7,311 million in 2017 and is projected to reach at $16,441 million by 2025, growing at a CAGR of 10.8% from 2018 to 2025.
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Surge in demand for end-to-end application hosting due to increased cloud infrastructure, need to improve and secure critical business applications, and rise in sophistication level of application infrastructure drive the growth of the global managed application services market. In addition, increase in application complexity and in-house teams shifting away from legacy application support are expected to create lucrative opportunities for the growth of the market. However, risks associated with application data security are anticipated to hamper the market growth during the forecast period.
Demand for managed application services has increased owing to rise in expenditure on application hosting and increase in need for application monitoring and alerting services. Further, rise in demand for managed application backup and recovery as well as disaster recovery due to the growing concerns for data security are expected to be opportunistic for the managed application services market. Furthermore, the global managed application services market is witnessing the trend of bundled IT solutions that include infrastructure and application hosting as well as managed services and security services, which are anticipated to boost the growth of the market during the forecast period.
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Competitive Analysis:
The competitive environment of Managed Application Services Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Managed Application Services Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
BMC Software, Inc.
Rackspace US, Inc.
DXC Technology Company
Fujitsu
HCL Technologies Limited
International Business Management (IBM) Corporation
Wipro Limited
Navisite (Spectrum Enterprise)
Virtustream
YASH Technologies and Many More
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Managed application services provide expert IT professionals methodologies to maintain, support, and enhance critical applications of an organization. In addition, these services offer management of entire application portfolio or its significant components to reduce the time spent on IT management and enhance the focus on strategic, core business competencies.
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