Managed Application Services Market Size to reach $16,441 Million by 2025 | Valuates Reports

The global managed application services market size was USD 7,311 Million in 2017, and is projected to reach USD 16,441 Million by 2025, growing at a CAGR of 10.8% from 2018 to 2025.

Managed application services transform application portfolios into smooth running operations that facilitate accomplishment of business goals. These services provide experienced IT professionals methodologies to maintain, support, and improve important applications of an organization. They are adopted by numerous enterprises to manage the existing business-critical applications and exclusively focus on core competencies of the business.

Rise in demand for end-to-end application hosting and need to improve & secure critical business applications drive the growth of the managed application services market. However, risks associated with application data security are expected to impede the market growth. Furthermore, rise in application complexity and growth in investment in managed application services by small and medium enterprises (SME) are expected to present major opportunities for this market in future.

The global managed application services market is segmented based on service type, organization size, application type, industry vertical, and region. Based on service type, it is divided into operational services, application service desk, application hosting, application security & disaster recovery services, and application infrastructure. Based on organization size, the market is bifurcated into small & medium sized enterprises (SMEs) & large enterprises. Based on application type, the market is classified into web-based applications and mobile applications. Based on industry vertical, it is divided into telecom & IT, government, healthcare, BFSI, retail, energy & utilities, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Top impacting factors

Increase in demand for end-to-end application hosting, need to improve and secure critical business applications, and surge in application complexity drive the demand for managed application services market. However, risks associated with application data security hamper the market growth.

Increase in demand for end-to-end application hosting:

Rise in demand for end-to-end application hosting due to its numerous benefits is expected to boost the growth of the market. It includes benefits such as no vendor installation, low costs, minimized risk, no long-term commitment, backups, and security.

Application hosting allows access from a remote cloud infrastructure through the internet. Growth in adoption of cloud technology has created a huge demand for managed application hosting services. Application hosting services enable clients to focus on improving the application instead of worrying about the infrastructure issues. Cloud engineers manage the infrastructure including OS patches, upgrades, monitoring, and others to enable development teams focus on core business objectives. The need to assess applications throughout their lifecycles further drives the growth of this market.

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Need to improve and secure critical business applications:

Managed application services facilitate monitoring and maintenance of business applications by a managed service provider for a subscription-based fee for SMEs as well as large enterprises, thus, reducing the risk of downtime. Large enterprises have realized the importance of reducing IT downtime for business applications as leads to a considerable loss of revenue. Further, increase in need for business continuity and disaster recovery services owing to rise in business risks caused by application vulnerability fuel the growth of the global managed application services market. Thus, organizations adopt managed application services to alleviate risk of downtime.

Furthermore, managed application services providers have access to skill pools for managing various critical business applications. This is advantageous for the organization as it helps to save the cost associated with hiring the required IT talent and technical expertise.

Hence, managed application services are being adopted by enterprises to improve the performance, system availability, application uptime, and security of business-critical applications across all sectors.

BY SERVICE TYPE

o Operational services
o Application service desk
o Application hosting
o Application security and disaster recovery
o Application infrastructure

BY ORGANIZATION SIZE

o Small and medium-sized enterprises (SMEs)
o Large enterprises

BY APPLICATION TYPE

o Web-based applications
o Mobile applications

BY INDUSTRY VERTICAL

o Telecom & IT
o Government
o Healthcare
o BFSI
o Retail
o Energy & utilities
o Others

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