IMARC Group, a leading market research company, has recently releases report titled “Managed Application Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global managed application services market trends, size, share, growth, report and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. The global managed application services market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.1 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028.
What is Managed Application Services?
Managed application services include a range of offerings, including technical support and cloud migration, designed to maintain the ongoing availability and relevance of applications while meeting evolving business requirements. These services play a crucial role in improving security measures, achieving cost savings, reducing the risks of outages, and minimizing both capital and operational expenditures. They involve tasks such as monitoring, maintaining, optimizing capacity, and ensuring safety. Consequently, organizations across diverse industries are adopting managed application services to facilitate smooth cloud deployment and attain financial advantages.
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Managed Application Services Market Trends and Drivers:
The expanding information technology (IT) infrastructures stand as the primary driver for the growth of the managed application services market. In addition to this, companies are seeking secure, fast, and optimal performance to maintain a competitive edge, further fueling market expansion. The increasing demand for managed application services is driven by their role in supporting the implementation, optimization, maintenance, performance enhancement, and quality initiatives of healthcare organizations. The growing need for remote patient solutions is also contributing to the global market’s acceleration. Furthermore, the rising demand for these services among small and medium-sized enterprises (SMEs) to meet regulatory, data, and system requirements, enabling cost reduction and operational optimization, represents another significant growth factor. Service providers are responding by offering customizable solutions to support custom web applications crucial to the day-to-day operations of institutions, thereby stimulating market growth. Additionally, the growing popularity of these functionalities across various sectors, including BFSI, retail, telecommunications, and e-commerce, is expected to drive the managed application services market in the forecasted period.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Service:
- Operational Services
- Application Service Desk
- Application Hosting
- Application Security and Disaster Recovery
- Application Infrastructure
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Application:
- Web-Based Applications
- Mobile Applications
Breakup by Industry Vertical:
- BFSI
- Telecom and IT
- Government
- Healthcare
- Retail
- Energy and Utilities
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Who are the key players operating in the industry?
BMC Software Inc., DXC Technology, Fujitsu Limited, HCL Technologies Limited (HCL Enterprise), International Business Machines Corporation, Lumen Technologies Inc., Mindtree Ltd. (Larsen & Toubro Ltd.), NaviSite Inc., Rackspace Technology Inc., Unisys Corporation, Virtustream (Dell Technologies Inc.) and Wipro Limited.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
