Press release
Managed Application Services Market Poised to Garner Maximum Revenues During 2018 - 2025
Managed Application Services Market
Asia-Pacific is expected to grow at a highest CAGR, owing to growing number of small- & medium-sized businesses and rising demand for managed application services from the BFSI sector.
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The global managed application services market is experiencing significant growth propelled by various key factors. The surge in demand for end-to-end application hosting is driven by the increased adoption of cloud infrastructure, offering scalability, flexibility, and cost-effectiveness for businesses. Additionally, the need to enhance and secure critical business applications further fuels market expansion as organizations prioritize robust management and maintenance of their application infrastructure.
Moreover, the rising sophistication level of application infrastructure contributes to the growth of managed application services. As applications become more complex and multifaceted, businesses seek specialized expertise and support to manage and optimize their application environments effectively. This trend presents opportunities for managed service providers to offer tailored solutions to meet the evolving needs of businesses.
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Furthermore, the increase in application complexity and the gradual shift of in-house teams away from legacy application support create lucrative opportunities in the managed application services market. Organizations require external expertise to navigate the intricacies of modern applications and ensure seamless operation and performance.
However, despite the growth prospects, risks associated with application data security pose challenges to market growth during the forecast period. As businesses entrust their critical data and applications to managed service providers, ensuring the confidentiality, integrity, and availability of application data becomes paramount. Addressing security concerns and implementing robust security measures are essential for building trust and confidence among customers.
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While challenges exist, the global managed application services market is poised for substantial growth driven by the increasing demand for end-to-end application hosting, the complexity of modern application environments, and the evolving security landscape. Managed service providers that can effectively address these challenges and provide comprehensive, secure, and reliable application management solutions are well-positioned to capitalize on the opportunities presented by this growing market.
Some of the key players operating in the managed application services market include BMC Software, Inc., Rackspace US, Inc., DXC Technology Company, Fujitsu, HCL Technologies Limited, International Business Management (IBM) Corporation, Wipro Limited, Navisite (Spectrum Enterprise), Virtustream, and YASH Technologies.
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