The increasing degree of business risks posed by application vulnerabilities is expected to drive the growth of the managed application services market
The managed application services market size is estimated to be USD 2.02 billion in 2017 and is expected to reach USD 5.54 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period. The major factors driving the growth of the managed application services market include the increasing demand for end-to-end application hosting services and the rising sophistication level of application infrastructure. However, concerns for application data secuirty and lack of trust on third party service providers are expected to limit the market growth in the coming years.
Operational services segment is expected to have the largest market share during the forecast period
The operational services segment is expected to have the largest market share during the forecast period, as it is important for organizations to run their business applications smoothly. The operational services are responsible for the overall performance and operation of all critical business applications. Additionally, small downtime in organization’s applications can lead to huge losses. Hence, organizations across the globe are investing heavily on operational services.
Mobile applications segment is expected to grow at a higher CAGR during the forecast period
The mobile application type is expected to grow at a higher rate, due to its increasing adoption and deployment of applications in the mobile environment. Organizations are well versed with the business benefits that are generated by mobile applications. Furthermore, the availability of cloud-based, enterprise-grade mobile applications is said to be gaining traction among Small and Medium-sized Enterprises (SMEs), due to their cost-effectiveness and lesser maintenance charges. Hence, in the coming years, the demand for mobile application services is expected to increase.
APAC is expected to grow at the highest rate during the forecast period
As per the regional analysis, Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, as most of the companies in APAC are encouraging the extensive adoption of mobile applications. Furthermore, this region comprises a large number of SMEs that have limited IT budget and IT staff. Governments in this region are also adopting the mobile-first strategy to provide better citizen services that would spur the market of managed application services during the forecast period.
The break-up profiles of the primary discussion participants are given below:
• By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
• By Designation: C-Level (45%), Director Level (30%), and Manager Level (25%)
• By Region: North America (35%), APAC (30%), Europe (20%), and RoW (15%)
The following key managed application services market vendors are profiled in the report:
BMC Software (US), CenturyLink (US), Fujitsu (Japan), HCL (India), IBM (US), SMS Management & Technology (Australia), Unisys (US), Virtustream (US), Wipro (India), YASH Technologies (US), Mindtree (India), and Navisite (US).
The global managed application services market has been segmented by service, application type, vertical, organization size, and region. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities across major regions. In addition to this, the strength of service portfolio and business strategy excellence are some of the other MarketsandMarkets analysis included in the report.
Reasons to Buy the Report
The report will help the market leaders/new entrants in the managed application services market in the following ways:
1. The report segments the managed application services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different regions.
2. The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report helps the stakeholders understand the competitors and gain more insights to better their position in the market.