Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Managed Application Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global managed application services market size reached US$ 12.4 Billion in 2022. Looking forward, the market is set to reach US$ 27.1 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028.
The global managed application services market is becoming increasingly vital in the contemporary business landscape, offering advanced solutions to ensure the secure, efficient, and optimal performance of enterprise applications.
These services play a crucial role in managing intricate IT infrastructures and supporting business expansion. They not only facilitate seamless cloud deployment but also generate significant cost savings, delivering substantial value to various industry sectors across the globe.
Managed application services are instrumental in enhancing security, optimizing human resource utilization, and reducing both capital and operational expenses. They are designed to minimize the risks of system outages while overseeing, maintaining, and improving capacity and security.
As a result, these services are being widely adopted by organizations of all sizes. Small and medium-sized enterprises (SMEs), in particular, are embracing remote managed services to ensure high uptime with minimal administrative overhead, addressing regulatory constraints and demanding system requirements.
The global expansion of businesses and the growing complexity of IT infrastructures have created a significant demand for reliable application services to ensure secure, fast, and efficient performance of enterprise applications. Organizations worldwide are increasingly turning to managed application services to reduce costs and optimize their operations. These services are particularly valuable for SMEs, as they offer a cost-effective way to maintain critical applications while meeting regulatory and data requirements.
The healthcare sector is experiencing a rapid digitization of its infrastructure, driving the demand for telehealth and remote patient services. Managed application services are playing a crucial role in supporting these initiatives by offering customizable solutions for critical web applications used in daily healthcare operations.
In addition to healthcare, managed application services are gaining traction in other sectors as well. Telecommunications, retail and e-commerce, and the banking, financial services, and insurance (BFSI) industry are among the sectors leveraging these services to enhance their operations.
The adaptable nature of managed application services makes them invaluable in meeting the evolving needs of various industries, driving their adoption across diverse sectors.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $12.4 Billion |
| Forecasted Market Value (USD) by 2028 | $27.1 Billion |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Global |
Key Questions Answered in This Report:
- How has the global managed application services market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global managed application services market?
- What are the key regional markets?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global managed application services market and who are the key players?
- What is the degree of competition in the industry?
Competitive Landscape:
- BMC Software Inc.
- DXC Technology
- Fujitsu Limited
- HCL Technologies Limited (HCL Enterprise)
- International Business Machines Corporation
- Lumen Technologies Inc.
- Mindtree Ltd. (Larsen & Toubro Ltd.)
- NaviSite Inc.
- Rackspace Technology Inc.
- Unisys Corporation
- Virtustream (Dell Technologies Inc.)
- Wipro Limited.
Breakup by Service:
- Operational Services
- Application Service Desk
- Application Hosting
- Application Security and Disaster Recovery
- Application Infrastructure
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Application:
- Web-Based Applications
- Mobile Applications
Breakup by Industry Vertical:
- BFSI
- Telecom and IT
- Government
- Healthcare
- Retail
- Energy and Utilities
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/mm64va
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
