According to the report, the global managed application services market garnered $7.31 billion in 2017 and is expected to reach $16.44 billion by 2025, registering the CAGR of 10.8% from 2018 to 2025.
Rise in demand for end-to-end application hosting, increase in the level of application infrastructure, and need to improve and secure critical business applications have boosted the growth of the global managed application services market. However, risks associated with application data security hinder the market growth. On the contrary, a rise in application complexity is expected to create lucrative opportunities for the market players in the near future.
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 a significant increase in terms of revenue during the forecast period.
- In 2017, the large enterprise 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.
Leading Industry Players Profiled
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. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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