This report categories the Application Management Services market globally based on size, share, Revenue, key manufacturers, regions, type and application with in depth descriptions.
The application management services market size is expected to grow from USD 10.67 billion in 2017 to USD 27.83 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period. The need for business agility and accelerated time-to-market, and adoption of cloud computing are some of the major drivers that are expected to increasing the demand for application management services.
The major restraining factor for the growth of the application management services market is the rising concern over application data security.
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“Application security services segment is expected to grow at the fastest rate during the forecast period”
The application security services segment is expected to witness the highest growth rate during the forecast period, as the vulnerabilities have become more complex and sophisticated, the demand for the application security segment is also expected to increase, to cater to the challenges posed by these threats.
“Large enterprises segment is expected to hold a larger market share during the forecast period”
The large enterprises segment is expected to have a larger market share owing to the need to reduce the high Capital Expenditure (CAPEX) and Operating Expenditure (OPEX). Large enterprises have dedicated in-house IT resources and larger IT budgets and therefore consider deploying a variety of application management strategies.
“Asia Pacific (APAC) is expected to grow at the fastest rate during the forecast period”
As per the geographic analysis, the APAC region is expected to witness the fastest growth in the application management services market, due to the increased adoption of application management services and cloud computing. Companies in this region are migrating their core business applications to new cloud platforms to save the cost.
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The application management services market ecosystem includes players, such as Accenture (Republic of Ireland), Atos (France), Capgemini (France), Cognizant (US), Fujitsu (Japan), DXC (US), HCL (India), IBM (US), Wipro (India), and Tech Mahindra (India).
Key Target Audience
- Global application management services providers
- Professional and managed service providers
- Government and research organizations
- Information Technology (IT) companies
- Application modernization vendors
- Associations and industry bodies
- Application security vendors
- System integrators
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- Application Portfolio Assessment
- Application Security
- Web Application Security
- Mobile Application Security
- Application Modernization
- Cloud Application Migration
- Application Integration
- Application Replat forming
- UI Modernization
- Application Maintenance and Support
- Application Managed Services
By Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
- Banking, Financial Services, and Insurance (BFSI)
- Telecom and IT
- Retail and eCommerce
- Healthcare and Lifesciences
- Energy and Utilities
- Others (Media and Entertainment, Travel and Hospitality, Education, and Transport and Logistics)
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