The latest research study “Managed Application Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Global Managed Application Services Market size reached US$ 10.78 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 23.86 Billion by 2027 exhibiting a CAGR of 13.50% during 2022-2027.
Managed application services include technical support and cloud migration, which assists in keeping the application highly available and relevant for evolving business needs. They help maintain, support and improve essential applications of any organization. They also enhance security, promote human resources savings, reduce capital and operational costs, decrease outage risks, and maintain, monitor, and optimize capacity. As a result, organizations from various industry verticals are adopting managed application services to run cloud deployment smoothly while minimizing overall costs.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Managed Application Services Trends and Drivers:
The market is primarily driven by the global expansion of business and the rising complexity of information technology (IT) infrastructure. In addition, there is a surging need for dependable services for fast, secure, and optimal enterprise application performances to maintain the competitive edge, which represents another growth-inducing factor.
Besides this, small and medium-sized enterprises (SMEs) are adopting remote managed services that provide minimal administrative overhead with maximum uptime. This, coupled with the introduction of customizable solutions to support custom web applications that are critical for the everyday operations of organizations, is positively influencing market growth.
Other factors, including the rapid digitization of healthcare infrastructure, the escalating demand for telehealth and remote patient services, and the rising product adoption across the banking, financial services, and insurance (BFSI), telecommunication, retail, and e-commerce industries, are creating a positive market outlook.
|Managed Application Services Market Report Scope|
|Market size value in 2021||US$ 10.78 Billion|
|Market forecast in 2027||US$ 23.86 Billion|
|Growth Rate||CAGR of 13.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Service, Organization Size, Application and Industry Vertical|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||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.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
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:
- Telecom and IT
- Energy and Utilities
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- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are 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.
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