Managed Application Services Industry

Asia Pacific region likes to grow at a higher CAGR due to the growing number of SMEs and growing demand for managed application services from the BFSI industry.

PORTLAND, OR, UNITED STATES, November 10, 2021 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled," Managed Application Services Industry by Service Type, Organization Size, Application Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025". The global Managed Application Services Industry was valued at $7,311 million in 2017 and is projected to reach $16,441 million by 2025, growing at a CAGR of 10.8% from 2018 to 2025.

The growing cloud infrastructure, the need to improve and protect critical business applications, and the sophistication of application infrastructures are driving demand for end-to-end application housing and driving industry growth. Global managed application service. In addition, increasing application complexity and moving internal teams away from traditional application support are expected to create favorable opportunities for market growth. However, the risks associated with application data security are expected to impede market growth during the forecast period.

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Based on the type of service segment, the Application Host Services segment led the managed application services industry in 2017. However, the Application Infrastructure Services segment is expected to grow the most due to its high growth rate. The need for managed application services to provide reliable services to middleware. infrastructure.

The global managed application services industry is expected to maintain its dominance over the forecast period, led by web-based application services in 2017. However, mobile application services are projected to grow at the fastest rate, with a CAGR of 13.5% over the forecast period.

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Key Findings Of The Global Managed Application Services Industry:

• The application infrastructure services segment is expected to exhibit a significant increase in terms of revenue during the forecast period.
• In 2017, the large enterprises segment accounted for the highest revenue according to the 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.

Some of the key players operating in the Managed Application Services Industry 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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