Application Management Services Market Size is Presumed to Accrue the Highest Revenue and is Expected to reach over USD 35 billion by 2023

“Application Management Services Market”
Application Management Services Market Research Report, By Service-Type (System Integration, Consulting Services, Modernization Services, And Others), By Organization Size, By Deployment, And By End-Users – Forecast Till 2023

Market Highlights:

Business organizations generally maintain IT applications to drive their business operations and application services, these application services are creating a huge demand from the end-users. Application Management Services (AMS) facilitate and support business organizations to maintain high levels of service quality and fulfill the demand for rapidly increasing innovation in the market. AMS also help to restore existing application service operations and lower negative business impact. The AMS facilitates a cost effective service solution for the business organization to stabilize their existing services and transform into applications innovation and enhancement.

There are many companies in market, such as IBM, Capgemini, Infosys, Dell Inc., Cognizant, and others, which provide application management services. Additionally, the application management services market is also witnessing partnerships, collaborations, and agreements that contributing to the growth of the market. For instance, on January 2018, HCL technologies, one of the leading global IT services company, signed an IT infrastructure services and application management contract with Cadent, an U.K based gas distribution network. By this contract, HCL will provide support services to Cadent’s business operations, which distributes gas to 11 million homes and business units in different parts of the U.K region, namely North West, Midlands, East, and South East of England.

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Major Key Players

Some of the key players of Application Management Services market include Accenture (Ireland), Atos (France),Infosys (India), Oracle Corporation(U.S.),SAP(Germany),Deloitte (U.S.), Dell Inc. (U.S.), Optimum Solutions (Singapore), Neoris (U.S), Sierra-Cedar, Inc. (U.S.), Capgemini (France), Cognizant (U.S.), Fujitsu (Japan), DXC (U.S.), HCL (India), IBM (U.S.), Wipro (India), and Tech Mahindra (India)

According to MRFR, the global Application Management Services market is expected to reach approximately over USD 35 billion by 2023 growing at a 22% CAGR over the forecast period 2017-2023

Segmentation

The application management services market is categorized into service-type, organization size, deployment, and end-user.

The service-type of the application management services market is differentiated into system integration, support & maintenance, database management, consulting services, modernization services, and others. On the basis of deployment, the market consists of on-premises and on-cloud. Based on the organization size, the market is divided as large enterprises and Small & Medium Enterprises (SMEs). Furthermore, large enterprises are acquainted with well advanced IT resources and can readily increase their IT budgets for engaging numerous application management strategies. Whereas, the small and medium-sized enterprises are expected to adopt the lift-and-shift migration strategy that eventually lead to lower their operational expenditure and enhance their business efficiency which is anticipated to be one of the driving factors for the SME sector over the next few years.

Furthermore, on the basis of end-user, the market is segregated into BFSI, IT & telecom, manufacturing, healthcare, government, retail & e-commerce, healthcare & life science, energy & utilities, and others.

Regional Analysis

Geographically, the Application Management Services is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.

North America is presumed to have a significant growth in the application management services market. The United States and Canada are the leading countries in the region. This is due to presence of large number of service providers in the region. Europe is also expected to have a substantial growth in the market. The United Kingdom, France, and Germany are expected to be leading countries due to the increase in adoption of cloud services. Asia Pacific is also anticipated to be the fastest growing region in the AMS market over the forecast period. India, Japan, and China are the leading countries in the application management services market. This is attributed to increased investment from advance economies to boost small and medium business organization.

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Target Audience

  • Application Management Services Providers
  • Professional and Managed Service Providers
  • Government and Research Organizations
  • Information Technology (IT) Companies
  • Application Modernization Vendors
  • Associations and Industry Bodies
  • Application Security Vendors
  • System Integrators

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