Managed Application Services Market Size Estimated to Observe Significant Growth to 2025
Growing demand for end-to-end application hosting, the need to improve & secure critical business applications, migration of applications and workload on the cloud, a surge in hybrid model adoption, and increase in demand for outsourcing of repetitive application maintenance tasks would drive the growth of the global managed application services industry.
The report offers an extensive analysis of the top impacting factors, drivers & opportunities, current market size & estimations, key segments, and competitive landscape. According to the report, the global managed application services market was valued at $7.31 billion in 2017 and is projected to reach $16.44 billion by 2025, growing at a CAGR of 10.8% from 2018 to 2025.
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Growing demand for end-to-end application hosting, the need to improve & secure critical business applications, 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 that drive the growth of the managed application services market. However, high risk associated with application data security is expected to impede the growth of this market. On the other hand, the rise in complexity level of applications is expected to provide lucrative opportunities for market growth.
Application hosting to remain dominant, application infrastructure to exhibit the fastest growth
Among the service steps, the application hosting segment contributed more than one-third of the total market share in 2017 and is expected to remain the lead revenue contributor throughout the forecast period. This is attributed to the rise in adoption of on-cloud application due to the scalable infrastructure of SaaS platform as per the requirements of an organization, hassle-free regular updates and maintenance, and easy access from anywhere at any time.
The application infrastructure segment would grow at the fastest CAGR of 13.2% from 2018 to 2025, owing to the growing demand for Internet of Things (IoT) middleware and the evolving maturity of the cloud application infrastructure. The report also discusses other service types such as operational services, application service desk, and application security and disaster recovery.
North America to dominate throughout the forecast period
In terms of revenue, North America accounted for nearly half of the total market share in 2017 and would continue its dominance throughout the forecast period. This region is estimated to exhibit large scale adoption of cloud computing platforms and solutions by enterprises to accommodate their growing need of modern infrastructure for scaling their operations. However, Asia-Pacific would grow at the fastest CAGR of 13.3% from 2018 to 2025, owing to favorable government initiatives encouraging the adoption of managed cloud application services in this region.
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Key market players
The market players analyzed in the report 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. The report also provides insights on strategies, such as new product launches, expansions, partnerships, mergers & acquisitions, collaborations, joint ventures, and others, which have been adopted by these players to gain a strong foothold in the industry.
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