The global managed application services market reached a value of 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Managed application services range from technical support to cloud migration that assists in keeping the application highly available and relevant for evolving business needs. They also aid in enhancing security, encouraging human resources savings, minimizing outage risks, reducing capital and operational costs, and monitoring, maintaining, and optimizing capacity and security. As a result, organizations from different industry verticals worldwide are integrating managed application services to run cloud deployment smoothly and deliver cost savings.
Managed Application Services Market Trends:
Due to the expansion of business globally and the increasing complexity of information technology (IT) infrastructure, there is a considerable need for reliable application services for secure, fast, and optimal enterprise applications performance and maintaining competitive advantage. This represents one of the key factors encouraging enterprises around the world to adopt managed application services to reduce costs and optimize operations. In addition to this, as regulatory, data, and system requirements prohibit the use of off-site solutions, small and medium-sized enterprises (SMEs) are leveraging remote managed services that provide minimal administrative overhead with maximum uptime. Apart from this, managed application services are employed to meet the demand for implementation, optimization, maintenance, performance improvement, and quality initiatives of health firms. This can also be attributed to the rapid digitization of healthcare infrastructure and the escalating demand for telehealth and remote patient services. Furthermore, service providers are providing customizable solutions to support custom web applications that are critical for the everyday operations of organizations. This, in turn, is anticipated to drive the utilization of managed application services in the telecommunication, retail and e-commerce, and banking, financial services, and insurance (BFSI) sectors in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global managed application services market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service, organization size, application and industry vertical.
Breakup by Service:
Application Service Desk
Application Security and Disaster Recovery
Breakup by Organization Size:
Small and Medium-sized Enterprises (SMEs)
Breakup by Application:
Breakup by Industry Vertical:
Telecom and IT
Energy and Utilities
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key questions answered in this report:
How has the global managed application services market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global managed application services market?
What are the key regional markets?
What is the breakup of the market based on the service?
What is the breakup of the market based on the organization size?
What is the breakup of the market based on the application?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global managed application services market and who are the key players?
What is the degree of competition in the industry?