Application Management Services Market 2021-2030 : Emerging Trends, Growth Opportunities, Growth And Business Strategies

According to the report, the global Application Management Services Market generated $17.12 billion in 2020, and is anticipated to generate $94.78 billion by 2030, witnessing a CAGR of 19.1% from 2021 to 2030.

Rise in next-gen tech integration in modern business applications and ease in load of modern business operations drive the growth of the global application management services market. However, plastic nature of application management services and data safety & privacy concerns hinder the market growth. On the other hand, advent of consumer trends presents new opportunities in the coming years.

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Consumer trends have been evolving over the last few decades, and in recent years with a considerable transition toward online procurement of goods and services. During the COVID-19 lockdowns, the world saw an increase in consumer internet buying needs. E-Commerce retailers noticed their sales rose by more than 15% in the United States alone. Furthermore, compared to the previous year, online retail sales in European nations climbed by more than 30% than in 2019. This growing e-commerce trend is motivating many organizations and enterprises to expand their online services portfolio, which is expected to drive the application management services market analysis as companies employ application management services vendors to help them better manage their applications and provide better services to their customers.

Covid-19 Scenario

The outbreak of the Covid-19 pandemic led to the global lockdown, which compelled many business organizations to adopt remote working and work from home modes. As a result, organizations have turned to application management services to assist them in managing their software and cloud applications remotely.
Moreover, with the increase in importance of application management services and solutions helping in the digitization process of many small and medium level enterprises, the application management services market is growing steadily.
The application management services market is predicted to grow in the post-Covid era too.

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Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global application management services market. This is due to strong in-app consumer spending, high smartphone penetration, and a relatively greater number of mobile application downloads. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 21.8% from 2021 to 2030. Asia-Pacific is an emerging region for the application modernization services market. Australia, China, Japan, and India are the major countries contributing to the growth of the application modernization services market in APAC.

Asia-Pacific is an emerging region for the application modernization services industry. Australia, China, Japan, and India are the major countries contributing to the growth of the application modernization services market in APAC. Due to the rise in internet traffic, adoption of cloud services, IT services start-up ecosystem, enterprises in this region are becoming more competitive, and are focusing on offering better customer experience services to industries. Thus, the untapped potential of the Asia-Pacific region is attracting investments by major companies. Most organizations are focusing on expanding their business operations in countries across the Asia-Pacific region, which is expected to increase demand for application management services industry.

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Strong in-app consumer spending, high smartphone penetration, and a relatively greater number of mobile application downloads have collectively ensured a high market share. The U.S. is expected to emerge as a lucrative market for mobile games application in terms of in-app payment, paid mobile games, and rapidly increasing user base of mobile apps in the country.

Leading Market Players:-

Amazon Web Services, Inc.
Dell Inc.
Google LLC
HCL Technologies
Infosys Limited
International Business Machines Corporation
Micro Focus
Oracle Corporation
SAP SE

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