According to a recent report published by Allied Market Research, titled," Managed Application Services Market by Service Type, Organization Size, Application Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025". The global managed application services market was valued at $7,311 million in 2017 and is projected to reach at $16,441 million by 2025, growing at a CAGR of 10.8% from 2018 to 2025.
Surge in demand for end-to-end application hosting due to increased cloud infrastructure, need to improve and secure critical business applications, and rise in sophistication level of application infrastructure drive the growth of the global managed application services market. In addition, increase in application complexity and in-house teams shifting away from legacy application support are expected to create lucrative opportunities for the growth of the market. However, risks associated with application data security are anticipated to hamper the market growth during the forecast period.
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Based on service type segment, the application hosting services segment led the managed application services market in 2017. However, the application infrastructure services segment is expected to witness the highest growth, owing to its increased need of managed application services to provide reliable services for middleware infrastructure.
The global managed application services market was led by the web-based application services in 2017 and is projected to maintain its dominance during the forecast period. However, the mobile-based application services are anticipated to witness the fastest growth, registering a CAGR of 13.5% during the forecast period.
Key Findings Of The Global Managed Application Services Market:
- The application infrastructure services segment is expected to exhibit 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 vertical generated the highest revenue in 2017.
- Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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Some of the key players operating in the managed application services market 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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