The market is anticipated to expand steadily throughout the forecast period. Organizations are progressively utilizing managed application services to concentrate on their primary business strengths by outsourcing the management of applications. The growing demand for handling applications such as Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and specialized industry applications is driving businesses to improve operational efficiency and derive greater value from their existing application systems. Standardization, improved user experience, cost efficiency, and adherence to regulations are additional factors anticipated to drive the demand for managed application services in the upcoming years.
The Managed Application Services Market is Valued USD 15.7 billion by 2024 and projected to reach USD 102.7 billion by 2032, growing at a CAGR of 23.20% During the Forecast period of 2024-2032.
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Major Players in Managed Application Services Markets are:
IBM Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Wipro Limited, HCL Technologies Limited, Tata Consultancy Services Limited, NTT Data Corporation, Fujitsu Limited, DXC Technology Company, Atos SE, Tech Mahindra Limited, Deloitte Touche Tohmatsu Limited, Mindtree Limited, and Others.
Industry News:
In May 2022, Microsoft introduced a new service called Microsoft Security Experts, offering organizations support from external security professionals who specialize in threat hunting and managed detection and response. This service allows businesses to enhance their on-site security teams with assistance from off-site Microsoft experts.
In February 2022, IBM joined forces with SAP to offer technology and consulting services aimed at helping clients adopt a hybrid cloud strategy and transfer important workloads from SAP solutions to the cloud. As part of the RISE with SAP offering, IBM is the initial partner to provide cloud infrastructure and technical managed services.
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Global Managed Application Services Market Segmentation:
By Service Type
Application Development
Application Maintenance
Application Modernization
Application Testing and Quality Assurance
Application Consulting
By Deployment Mode
On-Premises
Cloud
By Application
Web-Based Application
Mobile Application
By Organization Size
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
By Vertical
Banking, Financial Services, and Insurance (BFSI)
Healthcare
IT and Telecom
Retail
Manufacturing
Others
The following areas and countries are covered in the worldwide Managed Application Services Market file:
North America (US, Canada, Mexico)
Europe (Germany, France, UK, Russia, Italy)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE), Egypt, Nigeria, and South Korea)
North America has established itself as the dominant market for managed application services globally. The region accounts for the largest share owing to a strong presence of major technology companies and digital transformation initiatives among enterprises. The U.S. hosts offices and delivery centers of leading service providers and offers a large customer base from diverse industries that are willing to adopt outsourced models.
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Key Features of the Managed Application Services Market Report: –
Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.
Examine the market opportunities for stakeholders by identifying higher growth sections.
To study and analyze the global Managed Application Services Market industry status and forecast including key regions.
An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter’s Five Forces analysis to provide a deeper understanding of the market.
It helps you make strategic business decisions and investment plans.
Finally, Managed Application Services Market is a valuable source of guidance for individuals and companies.
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