IMARC Group's report titled “Managed Application Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the global managed application services market forecast. The global market size reached US$ 14.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 40.5 Billion by 2032, exhibiting a growth rate (CAGR) of 12.3% during 2024-2032.
Managed application services include a range of offerings, including technical support and cloud migration, designed to maintain the ongoing availability and relevance of applications while meeting evolving business requirements. These services play a crucial role in improving security measures, achieving cost savings, reducing the risks of outages, and minimizing both capital and operational expenditures. They involve tasks such as monitoring, maintaining, optimizing capacity, and ensuring safety. Consequently, organizations across diverse industries are adopting managed application services to facilitate smooth cloud deployment and attain financial advantages.
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Managed Application Services Market Trends and Drivers:
The expanding information technology (IT) infrastructures stand as the primary driver for the growth of the managed application services market. In addition to this, companies are seeking secure, fast, and optimal performance to maintain a competitive edge, further fueling market expansion. The increasing demand for managed application services is driven by their role in supporting the implementation, optimization, maintenance, performance enhancement, and quality initiatives of healthcare organizations. The growing need for remote patient solutions is also contributing to the global market's acceleration. Furthermore, the rising demand for these services among small and medium-sized enterprises (SMEs) to meet regulatory, data, and system requirements, enabling cost reduction and operational optimization, represents another significant growth factor. Service providers are responding by offering customizable solutions to support custom web applications crucial to the day-to-day operations of institutions, thereby stimulating market growth. Additionally, the growing popularity of these functionalities across various sectors, including BFSI, retail, telecommunications, and e-commerce, is expected to drive the managed application services market in the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Service:
- Operational Services
- Application Service Desk
- Application Hosting
- Application Security and Disaster Recovery
- Application Infrastructure
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Application:
- Web-Based Applications
- Mobile Applications
Breakup by Industry Vertical:
- BFSI
- Telecom and IT
- Government
- Healthcare
- Retail
- Energy and Utilities
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- 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.)
- Wipro Limited
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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