The global application
management services market is estimated to reach USD 87.60 billion by
2025, according to a new report by Grand View Research, Inc. The industry is
expected to witness a steady growth owing to the increasing demand from the
financial services sector and healthcare industry.
Application management services encompass a wide range
of implementation and operational services that are vital to application
maintenance, optimization, support and modernization, and migration. As the
number of applications used and deployed by organizations is increasing
continuously, the need to monitor and manage these services for business efficiency
and continuity is driving the demand for application services across different
industries.
Companies today make use of a myriad set of
applications to address client needs, deal with numerous stakeholders in the
value chain, and keep abreast with the rapidly evolving technology landscape.
These conditions have been augmented with the advent of new trends such as
Internet of Things, cloud, and analytics, which are disrupting the traditional
system models. Owing to these factors, the application management services are
anticipated to witness a steady rise in demand over the years to come.
The application services industry is quite mature,
which can be attributed to the presence of many traditional service providers
who are entrenched firmly in the market. As the technological adoption gains
velocity in the industry, delivery models and service scopes are set to exhibit
a dramatic change with Software as a Service and cloud deployments playing a
significant role in the market.
Browse full research report on Application Management Services Market: https://www.grandviewresearch.com/industry-analysis/application-management-services-market
Further
key findings from the report suggest:
- The industry
is marked by the presence of big enterprises such as Cognizant, Accenture,
IBM, Capgemini, and Deloitte
- The banking,
financial services, and insurance segment is anticipated exhibit a
significant increase in demand
- IT cost
reduction, digitalization, and the need for gaining agility, reliability,
and integrated system models will shape the nature of services provided
and sought after in the market
- The impact of
changing industry dynamics will be profoundly exhibited on outsourcing,
whether offshoring or onshoring industries, at a global level
- The lack of
innovation, communication gaps, and inefficient methods for change
management and governance may become major hurdles in the industry’s
growth over the forecast period
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/communication-services
Grand
View Research has segmented the application management services market on the
basis of service, deployment, application, and region:
Service
Outlook (Revenue, USD Million; 2014 - 2025)
- System
Integration
- Support &
Maintenance
- Database
Management
- Consulting
- Modernization
- Others
Deployment
Outlook (Revenue, USD Million; 2014 - 2025)
- On-premise
- Cloud
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- BFSI
- Healthcare
- IT and
Telecom
- Retail
- Public Sector
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East
& Africa (MEA)
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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