Managed Application Services Market Size

Multiple monitoring tools and several layers of infrastructure managed by isolated teams contribute to the market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, July 14, 2023/EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Global Managed Application Services Market Reach USD 16,441 Million By 2025 | Top Players Such as - Wipro, HCL & Fujitsu." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global managed application services market size was USD 7,311 million in 2017, and is projected to reach USD 16,441 million by 2025, growing at a CAGR of 10.8% from 2018 to 2025.

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Increase in demand for end-to-end application hosting, requirements to secure critical business applications, and shift of applications and workload toward cloud are expected to propel the growth of the managed application services market. Moreover, the increase in hybrid model adoption and rise in demand for outsourcing of repetitive application maintenance activities supplement the market growth. However, risks associated with security of application data restrain the growth of the market. Contrarily, surge in complexity level of applications would create new lucrative opportunities in the coming years.

The global managed application services market is segmented based on service type, organization size, application type, industry vertical, and region. Based on service type, it is divided into operational services, application service desk, application hosting, application security & disaster recovery services, and application infrastructure. Based on organization size, the market is bifurcated into small and medium sized enterprises (SMEs) & large enterprises. Based on application type, the market is classified into web-based applications and mobile applications. Based on industry vertical, it is divided into telecom & IT, government, healthcare, BFSI, retail, energy & utilities, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on service steps, the application hosting segment accounted for more than one-third of the total share in 2017 and is estimated to maintain its lead position in terms of revenue during the forecast period. However, the application infrastructure segment is estimated to register the highest CAGR of 13.2% from 2018 to 2025.

On the basis of application types, the web-based application segment held more than two-thirds of the total market share in 2017 and is estimated to maintain its dominant position during the forecast period. However, the mobile based applications segment is estimated to register the highest growth with a CAGR of 13.5% from 2018 to 2025.

On the basis of industry verticals, the BFSI segment accounted for more than one-fourth of the total share in 2017 and is estimated to maintain its lead status during the forecast period. However, the retail sector is estimated to register the highest CAGR of 14.6% through 2025.

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In terms of region, North America held nearly half of the total share in 2017 and is estimated to maintain its dominant share during the forecast period. However, Asia-Pacific is estimated to portray the highest CAGR of 13.3% during the forecast period.

Leading market players discussed in the report are BMC Software, Inc., DXC Technology Company, Rackspace US, Inc., HCL Technologies Limited, Fujitsu, Wipro Limited, International Business Management (IBM) Corporation, Virtustream, NaviSite (Spectrum Enterprise), and YASH Technologies.

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Key Findings of the Study

● 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 organization size segment.

● The BFSI industry vertically generated the highest revenue in 2017.

● Asia-Pacific is projected to exhibit substantial growth during the forecast period.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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