Application Management Services Market Size, Revenue Growth, Key Factors, Major Companies, Forecast to 2026
The rising trend towards digitalization, coupled with extensive adoption of smartphones, and the internet, is propelling the growth of the market.
Market Size – USD 12.62 Billion in 2018, Market Growth - CAGR of 20.1%, Market Trends – The rising demand for managed application hosting.
The global Application Management Services Market is forecast to reach USD 55.87 Billion by 2026, according to a new report by Reports and Data. The rising trend towards digitalization, coupled with the extensive adoption of smartphones, and the internet, will fuel the growth of the market. The increasing demand for managed application hosting will also boost the market growth. Application management services reduce an organization's maintenance costs and intervals by synchronizing the design, development, and testing efforts. These services also significantly increase the performance and revenue streams of the business by improving the availability and performance of critical applications.
Application management services overcome the risk of various forms of downtime, including IT downtime, for both the business and the customers. The team also employs best practices, which assists them in increasing the efficiency further when developing and implementing systems. This allows companies to remain focused on the core business. The services stimulate developments through simplified integration and interconnected systems. With the help of DevOps, improved cooperation and knowledge sharing between the application operations, service desk, and application development, complexities can be resolved more swiftly. This enables to solve the recurring issues and prevents unnecessary escalation, allowing the application developer to concentrate fully on development.
Key participants include IBM, Accenture, TCS, Infosys, CSC, Atos Origin, Cognizant, Bourntec Solutions, HP, Deloitte, Ingenuity Technologies, Iblesoft, Fujitsu, Logica, Mahindra Systems, L&T Infotech, NTT Data, Capgemini, Xerox, and Wipro, among others.
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Further key findings from the report suggest
- The large-sized organizations account for a larger market share of ~64% in the year 2018, owing to the increasing investments on application management services. Most of the large enterprises prefer to outsource their IT operations to more specialized firms. This reduces their cost and time and ensures them better application management.
- The on-premises deployment type accounts for a larger market share of ~58% in the year 2018. On-premises deployment of these software and services ensures the security of the confidential data of the firms. Moreover, information deployed on-premises provide better accessibility and security to the organizations.
- The application maintenance and support services account for the largest market share of ~14% in the year 2018. Preventive application maintenance and support is an effective way to improve the quality of the software application while simultaneously reducing maintenance costs. Moreover, the benefits of application maintenance and support services include better security of data; improved user experience, and improved reliability.
- The retail and e-commerce industry is anticipated to witness the highest CAGR of 22.7% during the forecast period, attributed to the emergence of advanced technologies to provide complete service to their customers through multiple channels. Their investment in end-to-end digital operations has driven the growth of the industry.
- North America held the largest market share of ~31% in the year 2018, owing to the presence of some of the leading players of the market in the region. The deployment of customized application management services by the organizations in the region, to secure its data against various threats will fuel the market growth.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/application-management-services-market
For the purpose of this report, Reports and Data have segmented into the global Application management services market on the basis of type, deployment type, organization size, industry vertical, and region:
Type Outlook (Revenue, USD Billion; 2016-2026)
- Application Portfolio Assessment
- Application Security
- Web Application Security
- Mobile Application Security
- Application Modernization
- Cloud Application Migration
- Application Integration
- Application Replatforming
- UI Modernization
- Application Maintenance and Support
- Application Managed Services
Deployment type Outlook (Revenue, USD Billion; 2016-2026)
- On-Demand Cloud
- Hosted Cloud
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
- Small and Medium-Sized Enterprises
- Large Enterprises
Industry Vertical Outlook (Revenue, USD Billion; 2016-2026)
- Government & Defense
- Banking, Financial Services, and Insurance (BFSI)
- IT & Telecommunications
- Healthcare and life sciences
- Retail and eCommerce
- Energy and utilities
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Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
Finally, all aspects of the Application Management Services market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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