The most important factor creating the need for the global application management services and thus, the growing market for the same is the need for effective business applications that can improve and support business workflow. Other factors that can help the market growth include rapid development in information technology (IT) infrastructure, increase in mobile applications, increase in Bring Your Own Devices (BYOD) in the business organizations, and increasing demand for management services for the hardware, software, and lastly, services. Lastly, business enterprises are increasingly evolving with advanced business applications that are helpful strategies as per the requirements of end-users. However, the market growth can face hurdles due to high investments in application security and an increase in IT applications expenditure budget.
Key Players of Application Management Services (AMS) Market are:
The key players in the global application management services market include Accenture (Ireland), Atos (France), Capgemini (France), Cognizant (USA), Dell Inc. (USA), Deloitte (USA), DXC (USA), Fujitsu (Japan), HCL (India), IBM (USA), Infosys (India), Neoris (USA), Optimum Solutions (Singapore), Oracle Corporation(USA), SAP(Germany), Sierra-Cedar Inc. (USA), Tech Mahindra (India), and Wipro (India).
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The application management services market is estimated to expand at 22 % CAGR over the forecast period (2020-2023) owing to the rapid development in the infrastructure, asserts Market Research Future (MRFR). Application management services support and facilitate business organizations in order to fulfill the demand for rapidly increasing innovation and maintain high level of service quality. It also facilitate a cost-effective service solution and helps to restore existing application service operations.
Drivers and Constraints Impacting the Market:
On the flip side, high investment in application security which further increases the expenditure budget in IT applications is anticipated to inhibit the market growth during the assessment period. Moreover, rise in mobile application increases security risk for confidential and private information which is expected to hamper the market growth.
With the increasing adoption of ready-made solution, the global application management services are likely to gain traction during the forecast period. Ready-made solutions help to reduce complexities in the management and deployment of AMS solutions. Moreover, these solutions can be re-used which reduces the cost of launching new products, thus making them more economical. This is likely to drive the market during the assessment period. Also, rise in mobile applications which surge the demand for management services is anticipated to propel the market growth during the forecast period.
The global application management services market has been segmented on the basis of organization size, service type, end-user, deployment, and region.
By mode of service type, the market has been segmented into support & maintenance, modernization services, system integration, database management, and consulting services. Among these, the segment for support and maintenance is predicted to be the dominant segment owing to large-scale demand from small, medium, and large enterprises.
By mode of deployment, the market has been segmented into on-cloud and on-premise. The adoption of cloud is likely to increase in the coming years owing to the changing business dynamics.
By mode of organization size, the market has been segmented into small, medium, and large enterprises.
By mode of end-users, the market has been segmented into BFSI, healthcare & life science, healthcare, government, manufacturing, retail & E-commerce, IT & telecom, and energy & utilities. Among these, the BFSI segment is the largest adopter of AMS due to the sheer complexity of applications and functions.
The regional segmentation of the global application management services market has segmented the market into regional markets namely North America, Europe, Asia Pacific, and the rest of the world (RoW). During the forecast period, significant growth has been presumed for the market in North America as the USA and Canada are technologically advanced countries. Many key market players are based in North America.
Substantial growth is also expected in the European market due to the presence of many key players in this region and increasing adoption of cloud services. Maximum market growth in this region is expected in France, Germany, and the UK.
During the forecast period, the fastest market growth is expected in the Asia Pacific region due to increased investment from advanced economies to boost SMEs. The key country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region.
The RoW segment lists Latin countries and the Middle East & Africa (MEA). In the MEA region, the market is limited due to most countries being poor, lack of infrastructure, lack of awareness, lack of advanced technology, lack of education, and lack of skilled professionals. The market comprising of Latin countries is small because the availability of advanced technology is limited in this region. Argentina and Brazil are two vibrant economies that have the potential to rise as lucrative markets in the future.
Latest Industry News:
- Wolters Kluwer’s ELM Solutions have launched AMS that is a set of managed services that have been designed to control costs, drive efficiency, and improve outcomes in corporate legal and claims departments. They are expected to strategically optimize the Passport® or TyMetrix® 360° solutions. 27 MAR 2019
- EBSCO Industries, a global holding company with more than 26 business units around the world, has hired the Salesforce services of Rimini Street Application Management Services in order to maximize the value and return on investments (ROI) of their Salesforce investment. 14 MAR 2019
Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Business Function
4 Market Landscape
Continued. . .
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