The global application management services market is anticipated to grow at a CAGR of nearly 19.0% during the forecast period (2022-2028).Application management services is a type of framework that outsources management by way of a customized, well-defined set of policies, processes, procedures, templates, and standards. The major factor expected to drive the market growth is the increase in the use of BOYD (bring your device) in companies, high demand for mobile apps, and robust mobile app management services. In addition, an expansion in the use of cloud computing and companies seeking to derive value from the cloud, analytics, social computing, and cognitive computing technologies are further accelerating the market growth.
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The rising next-generation technology integration in modern business applications and ease ina load of modern business operations and the rising need to align legacy systems with the evolving business structure will further drive the growth of the global application management services market during the forecast period. Moreover, the rising emphasis on enterprise applications such as human resource management services, enterprise resource planning, and customer relationship management services among others, and increasing adoption of these services by small and medium businesses for monitoring, management, and other applications boost the market growth during the forecast period.
Some major players in the market include Amazon Web Services, Inc., Google LLC, and Accenture plc, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in September 2020, HCL Technologies announced its intention to acquire DWS Limited, an Australian IT, business, and management consultancy firm.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Service
- By Organization Size
- By Vertical
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Amazon Web Services, Inc., Google LLC, and Accenture plc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Application Management Services Market Report by Segment
By Service
- Application Portfolio Assessment
- Application Security
- Web Application Security
- Mobile Application Security
- Application Modernization
- Cloud Application Migration
- Others
By Organization Size
- Small and Medium Enterprises (SMEs)
- Large Enterprise
By Vertical
- BFSI
- Telecom and IT
- Government
- Retail and e Commerce
- Healthcare and Life sciences
- Manufacturing
- Others
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