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| Managed Application Services Market |
The global managed application services market is estimated to be valued at US$ 3.64 Bn or Mn in 2022 and is expected to exhibit a CAGR of 21.9% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Managed application services involve the outsourcing of various
application-related tasks to third-party service providers. These services help
organizations in managing their application infrastructure, including
maintenance, monitoring, and updates, allowing them to focus on core business
activities. The key advantage of managed application services is the reduction
in operational costs and improved efficiency, as organizations can leverage the
expertise and resources of service providers.
B) Market Key Trends:
One key trend in the managed application services market is the increasing
adoption of cloud-based services. Cloud-based managed application services
offer several benefits, such as scalability, flexibility, and
cost-effectiveness. Organizations are leveraging cloud technology to
efficiently manage their applications and infrastructure, enabling remote
access and enhancing collaboration. The demand for cloud-based managed
application services is expected to grow significantly in the coming years,
driven by the need for improved agility and digital transformation initiatives.
Segment Analysis:
The managed application services market can be segmented based on service type,
organization size, and vertical. In terms of service type, the application
management segment is expected to dominate the market. This is primarily due to
the increasing adoption of cloud-based applications by organizations across
various industries. Application management services help in monitoring,
maintaining, and supporting applications throughout their lifecycle, ensuring
their availability and performance. With the growing complexity of applications
and the need for continuous support, there is a rising demand for managed
application services, driving the dominance of the application management
segment.
Key Takeaways:
The global Managed
Application Services Market Share is expected to witness high growth,
exhibiting a CAGR of 21.9% over the
forecast period from 2022 to 2030. This growth can be attributed to several
factors. Firstly, the increasing adoption of cloud-based applications by
organizations is driving the demand for managed application services.
Cloud-based applications offer scalability, flexibility, and cost-efficiency,
leading to their widespread adoption. This, in turn, creates a need for managed
services to ensure the smooth functioning and support of these applications.
Regionally, North America is expected to be the fastest-growing and dominating
region in the managed application services market. The region has a matured IT
infrastructure and a large number of organizations adopting digital
technologies. Additionally, the presence of major key players in the region
contributes to the dominance of North America. The Asia Pacific region is also
expected to witness significant growth due to the increasing adoption of
cloud-based applications and digital transformation initiatives in countries
like China and India.
Key players operating in the managed application services market include
Fujitsu Limited, Mindtree Limited, IBM Corporation, Wipro Limited, Unisys
Corporation, CenturyLink Inc., Virtustream Inc., and HCL Technologies Limited.
These key players have a strong market presence and offer a wide range of managed
application services to cater to the diverse needs of organizations. They focus
on strategic partnerships, acquisitions, and product innovations to maintain
their competitive positions in the market. With the growing demand for managed
application services, these key players are expected to witness substantial
growth in the coming years.
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