New York, June 12, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Application Hosting Global Market Report 2023" - https://www.reportlinker.com/p06466624/?utm_source=GNW
, Apprenda Inc., Spectrum Enterprise, Oracle Corporation, Red Hat Inc., TIBCO Software Inc., The Apache Software Foundation, and Fujitsu Limited.
The global application hosting market is expected to grow from $75.88 billion in 2022 to $85.91 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The application hosting market is expected to reach $135.59 billion in 2027 at a CAGR of 12.1%.
The application hosting market includes revenues earned by entities by providing hosting platforms, managing hosting, and cloud hosting.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Application hosting is a Software-as-a-Service (SaaS) solution that enables users to execute and manage software applications from the cloud.It offers consumers computing systems that enable software to be distributed via the Internet.
It is accessible via the Internet from any location on the earth and is hosted and run by distant cloud architecture.
North America was the largest region in the application hosting market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the application hosting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main application hosting types are managed hosting, cloud hosting, and colocation hosting.Managed hosting is a service in which a third-party provider is in charge of administering, troubleshooting, and maintaining an organization’s hardware or cloud computing resources.
The various services are application monitoring, application programming interface management, infrastructure services, database administration, backup and recovery, and application security applied in various organizational size that are small and medium-sized enterprises(SMEs) and large enterprises.
The growing need for physical security is expected to propel the growth of the application hosting market in the coming future.Physical security refers to the security of personnel, hardware, programs, networks, and data from physical situations and events that can support severe losses or harm to an enterprise, agency, or organization.
Application security controls are methods for enhancing an application’s coding-level security, making it less susceptible to hackers.For instance, in January 2021, IT Governance identified 1,243 security events that resulted in 5,126,930,507 records being compromised.
In comparison to 2020 (1,120), that implies an 11% rise in security incidents. The number of compromised records dropped significantly over the same period, from 20.1 billion to 19.1 billion. Therefore, the growing need for physical security is driving the application hosting market.
Product innovations are the key trends gaining popularity in the application hosting market.Major companies operating in the application hosting market are focused on developing innovative products to strengthen their position in the market.
For instance, in November 2022, Kinsta US-based provider of Applications Hosting, Database Hosting Introduces Application Hosting, and Database Hosting. This is reliable and one-stop-shop Platform-as-a-Service (PaaS) that offers a per-usage billing system that charges based runtime and size of database.
In November 2022, Summit Hosting, a US-based provider of virtual servers and cloud-based application hosting acquired Handy Networks for an undisclosed amount.The acquisition was focused on acquiring businesses in Server Hosting, Application Hosting, Colocation, HIPPA compliance hosting, and backup and disaster recovery and to continue to expand service offerings for their customers.
Handy Networks LLC is a US-based provider of global hosting and cloud solutions.
The countries covered in the application hosting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The application hosting market research report is one of a series of new reports that provides application hosting market statistics, including application hosting industry global market size, regional shares, competitors with a application hosting market share, detailed application hosting market segments, market trends and opportunities, and any further data you may need to thrive in the application hosting industry. This application hosting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466624/?utm_source=GNW
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