Managed Application Services Market may reach to $5.54 Billion by 2022

According to a new market research report "Managed Application Services Market by Service (Operational Services, Application Infrastructure and Service Desk, Application Security, Disaster Recovery and Hosting), Application Type, Organization Size, Vertical, and Region - Global Forecast to 2022" published by MarketsandMarkets™, the managed application services market size estimated to be USD 2.02 Billion in 2017 and is expected to reach USD 5.54 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period.

Browse 73 tables and 39 figures spread through 129 pages and in-depth TOC on "Managed Application Services Market”

Browse Full Report @ https://www.marketsandmarkets.com/Market-Reports/managed-application-services-market-121152202.html

The major factors driving the growth of the managed application services market include the increasing demand for end-to-end application hosting services and the rising sophistication level of application infrastructure.

BFSI vertical is estimated to hold the largest market share in 2017

The Banking, Financial Services, and Insurance (BFSI) vertical is estimated to have the largest market share in 2017 and is also expected to grow at the highest CAGR during the forecast period due to the adoption of omnichannel business models. The BFSI vertical’s applications are very complex and have to support various third-party applications, complex business workflows, and the growing remote and mobile workforce. Moreover, the emergence of eWallets, unified payment interfaces, and payment gateways are expanding the business coverage.

SMEs segment is expected to grow at a higher rate during the forecast period

The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher rate during the forecast period. This segment lacks in IT staff and have a limited IT budget. Hence, to cope with the latest technology trends, SMEs are partnering with managed application service providers for maintaining and developing business-critical applications.

North America is expected to hold the largest market share during the forecast period

In the global managed application services market by region, North America is expected to hold the largest market share, due to the high concentration of managed application service providers in this region. Furthermore, the companies in this region are well-versed with the cost benefits and business values that they would get on partnering with managed application service providers. Owing to such factors, enterprises in this region are growing rapidly and have a high demand for managed application services.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121152202

The major vendors covered in the managed application services market include BMC Software (US), CenturyLink (US), Fujitsu (Japan), HCL (India), IBM (US), SMS Management & Technology (Australia), Unisys (US), Virtustream (US), Wipro (India), YASH Technologies (US), Mindtree (India), and Navisite (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/managed-application-services.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.