Press release
Managed Application Services Market New Challenges, Growth Demand, Size Worth $ 16,441 Million By 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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Surge in demand for end-to-end application hosting due to increased cloud infrastructure, need to improve and secure critical business applications, and rise in sophistication level of application infrastructure drive the growth of the global managed application services market.
In addition, increase in application complexity and in-house teams shifting away from legacy application support are expected to create lucrative opportunities for the growth of the market. However, risks associated with application data security are anticipated to hamper the market growth during the forecast period.
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The global managed application services market was led by the web-based application services in 2017 and is projected to maintain its dominance during the forecast period. However, the mobile-based application services are anticipated to witness the fastest growth, registering a CAGR of 13.5% during the forecast period.
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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