NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
application management services market size is estimated to grow by
USD 74.1 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 28.81% during the forecast period. Demand lead growth
is driving market growth, with a trend towards widespread adoption
of personal devices in workplace. However, longer implementation
process poses a challenge. Key market players include
Accenture Plc, Capgemini Service SAS, Cognizant Technology
Solutions Corp., Deloitte Touche Tohmatsu Ltd., DXC Technology Co.,
Fujitsu Ltd., HCL Technologies Ltd., Hexaware Technologies Ltd.,
Infosys Ltd., International Business Machines Corp., Mercer LLC,
Meteorite Informatics Pte. Ltd., Mindtree Ltd., Mphasis Ltd.,
Resolute Technology Solutions Inc., Rimini Street Inc., ScienceSoft
USA Corp., Tata Consultancy
Services Ltd., Unisys Corp., and Wipro Ltd..
![Technavio has announced its latest market research report titled Global application management services market 2024-2028 Technavio has announced its latest market research report titled Global application management services market 2024-2028](https://mma.prnewswire.com/media/2441705/Application_Management_Services_Market.jpg)
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Application
Management Services Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
28.81%
|
Market growth
2024-2028
|
USD 74.1
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
21.99
|
Regional
analysis
|
North America, APAC,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
North America at
41%
|
Key
countries
|
US, China, Germany, UK,
and India
|
Key companies
profiled
|
Accenture Plc,
Capgemini Service SAS, Cognizant Technology Solutions Corp.,
Deloitte Touche Tohmatsu Ltd., DXC Technology Co., Fujitsu Ltd.,
HCL Technologies Ltd., Hexaware Technologies Ltd., Infosys Ltd.,
International Business Machines Corp., Mercer LLC, Meteorite
Informatics Pte. Ltd., Mindtree Ltd., Mphasis Ltd., Resolute
Technology Solutions Inc., Rimini Street Inc., ScienceSoft USA
Corp., Tata Consultancy Services Ltd., Unisys Corp., and Wipro
Ltd.
|
Market Driver
The Application Management Services market is experiencing
significant growth due to the widespread adoption of Bring Your Own
Device (BYOD) policies in organizations. These policies enhance
connectivity and productivity, but also introduce security risks.
To mitigate these risks, businesses are implementing application
management services. These systems simplify IT management and
secure corporate information. Strict security policies and
guidelines are also essential to ensure employee compliance. By
striking a balance between productivity and security, organizations
can maximize the benefits of BYOD while safeguarding their
assets.
The Application Management Services market is experiencing
significant growth, with a focus on Regulation, Complexity, and
Performance. Companies are seeking Applications that are adaptive
to Devops and can be implemented through Cloud. Legacy systems are
being modernized to meet the demands of digital transformation.
Microservices and APIs are becoming increasingly popular for
building modern applications. Integration and testing are crucial
components of application management, ensuring seamless
functionality and compatibility. Security is a top priority, with
an emphasis on delivering secure services to clients. Overall, the
market is driven by the need for efficient, scalable, and secure
application solutions.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- Application management services bring significant benefits to
organizations, including improved efficiency and reduced IT costs.
However, the investment required for implementation can be
substantial and may take longer than anticipated for SMEs. Errors
in estimation can lead to implementation failures, resulting in
potential revenue losses. These risks may deter some SMEs from
adopting application management services, especially those with
limited financial resources. Consequently, longer implementation
times can negatively impact market growth for application
management service providers during the forecast period.
- The Application Management Services market faces several
challenges in today's technology-driven business landscape. One
significant challenge is the need to keep up with the constant
evolution of technologies and applications. This requires a deep
understanding of various technologies like Microservices,
Applicative Programming Interfaces (APIs), and DevOps. Another
challenge is ensuring security and compliance with regulations such
as HIPAA and GDPR. Additionally, integrating and managing multiple
applications and platforms can be complex. Companies require expert
assistance to optimize performance, maintain scalability, and
provide seamless user experiences. The use of advanced technologies
like Artificial Intelligence and Machine Learning can help address
these challenges and provide valuable insights for businesses.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This application management services market report extensively
covers market segmentation by
- Type
- 1.1 Discrete AMS
- 1.2 Embedded AMS
- End-user
- 2.1 Small and medium enterprises
- 2.2 Large enterprises
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Discrete AMS- Discrete application management
services enable organizations to align projects with business
strategy and measure their impact on the overall portfolio. These
services reduce risks, enhance customer satisfaction, and
contribute to business success. Cost reduction and improved
business processes are key market drivers. Social media integration
is a significant trend, enabling real-time customer engagement and
improved business results. The discrete application management
services market is expected to continue growing due to the
increasing demand for software applications and the need for
business competitiveness.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
In the dynamic landscape of modern IT, Application Management
Services (AMS) have emerged as a crucial solution for organizations
of all sizes, addressing the growing complexity of mobile
applications and the increasing adoption of cloud computing. AMS
providers offer expertise in licensing, deployment, and feature
recommendation for next-generation technologies, including IoT
services and cloud-based solutions. As application performance
becomes a top priority, AMS vendors help organizations navigate the
challenges of legacy systems and IT requirements. Java developers,
proficient in Spring Boot and
Spring Cloud, are often at the
forefront of these efforts, ensuring seamless integration with
Azure Spring Cloud and other microservices. However, the transition
to advanced technologies is not without hurdles. Security issues,
opposition to change, and integration difficulties can hinder the
adoption of AMS. Adherence to regulations and minimal
personalization are also essential considerations. Despite these
challenges, the benefits of AMS, such as improved performance,
scalability, and enhanced security, make them an indispensable part
of the IT infrastructure for businesses embracing the future of
technology.
Market Research Overview
The Application Management Services (AMS) market encompasses a
range of offerings designed to help organizations effectively
manage and maintain their software applications. These services
include application support, enhancement, integration, and
consulting. AMS providers assist clients in maximizing the value of
their applications by addressing technical issues, implementing
upgrades, and ensuring compliance with industry standards.
Additionally, AMS can support digital transformation initiatives by
enabling the integration of new technologies and applications. The
market for AMS is driven by the increasing complexity of software
applications and the need for organizations to maintain a
competitive edge.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Discrete AMS
- Embedded AMS
- End-user
-
- Small And Medium Enterprises
- Large Enterprises
- Geography
-
- North America
- APAC
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio