Global Managed Application Services Market Expected to Reach USD 16,441 Million By 2025|Top Key players such as - Wipro, Navisite and Virtustream

According to the report published by Allied Market Research "The Global Managed Application Services Market Expected to Reach USD 16,441 Million By 2025|Top Key players such as - Wipro, Navisite and Virtustream." These players have adopted different strategies such as new product launches collaborations expansion joint ventures agreements and others to increase their market share and maintain dominant shares in different regions.

Increase in demand for end-to-end application hosting, requirements to secure critical business applications, and shift of applications and workload toward cloud are expected to propel the growth of the managed application services market. Moreover, the increase in hybrid model adoption and rise in demand for outsourcing of repetitive application maintenance activities supplement the market growth. However, risks associated with security of application data restrain the growth of the market. Contrarily, surge in complexity level of applications would create new lucrative opportunities in the coming years.

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Based on service steps, the application hosting segment accounted for more than one-third of the total share in 2017 and is estimated to maintain its lead position in terms of revenue during the forecast period. However, the application infrastructure segment is estimated to register the highest CAGR of 13.2% from 2018 to 2025.

On the basis of application types, the web-based application segment held more than two-thirds of the total market share in 2017 and is estimated to maintain its dominant position during the forecast period. However, the mobile based applications segment is estimated to register the highest growth with a CAGR of 13.5% from 2018 to 2025.

On the basis of industry verticals, the BFSI segment accounted for more than one-fourth of the total share in 2017 and is estimated to maintain its lead status during the forecast period. However, the retail sector is estimated to register the highest CAGR of 14.6% through 2025.

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In terms of region, North America held nearly half of the total share in 2017 and is estimated to maintain its dominant share during the forecast period. However, Asia-Pacific is estimated to portray the highest CAGR of 13.3% during the forecast period.

Leading market players discussed in the report are BMC Software, Inc., DXC Technology Company, Rackspace US, Inc., HCL Technologies Limited, Fujitsu, Wipro Limited, International Business Management (IBM) Corporation, Virtustream, NaviSite (Spectrum Enterprise), and YASH Technologies.

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Key Findings of the Study

● The application infrastructure services segment is expected to exhibit a significant increase in terms of revenue during the forecast period.

● In 2017, the large enterprises segment accounted for the highest revenue according to organization size segment.

● The BFSI industry vertically generated the highest revenue in 2017.

● Asia-Pacific is projected to exhibit substantial growth during the forecast period.

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