Press Release / Technology / Application Management Services Market Global Development Industry Trends and Future Outlook to 2023

Application Management Services Market Global Development Industry Trends and Future Outlook to 2023

Market Highlights:

The global application management services market is presumed to expand at 22 % CAGR during the forecast period (2017-2023) due to the growing use of mobile applications, asserts Market Research Future (MRFR). Application management services are complete service management of business application which commences from conceptualization to modification to deployment, maintenance and support. AMS enables and supports business enterprises to manage large number of business applications. It also offer a cost-effective service solution to business enterprises to stabilize their existing services and also transform into applications innovation.

Application management services or AMS provides services covering life-cycle stages of application including maintenance, monitoring & support, application development, and others. Growth in mobile applications is presumed to bolster the demand for management services and is estimated to propel the market. Additionally, rise in bring your own devices (BYOD) in business enterprises is expected to foster the market demand for management services for software, hardware, and services.

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Major Key Players

Accenture (Ireland),

Atos (France),

Oracle Corporation(U.S.),

Deloitte (U.S.),

Dell Inc. (U.S.),

Optimum Solutions (Singapore),

Neoris (U.S),

SAP(Germany),

Capgemini (France),

Cognizant (U.S.),

Infosys (India), Sierra-Cedar, Inc. (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

Drivers and Constraints Impacting the Market

On the flip side, with the increase in mobile application, there is a growing security risk for confidential and private information which is presumed to hamper the market growth over the review period. Moreover, high investment in application security which further increases the expenditure budget for IT applications is considered to act as a barrier to the growth of the market in the coming years.

Industry News

Sohan Lal Commodity Management has applied for a patent application with the India Patent Office titled System and Method for Real-time Monitoring of Quality Control Data in a War. The artificial intelligence infused technology system and method will allow syncing of data from the warehouse management subsystems located at several locations connected through a distributed computing network to the warehouse management system. This will enable proper monitoring to ensure the health of commodity during the entire process.

Segmentation:

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

Regional Insights:

Geographically, the AMS market spans across regions namely, Asia Pacific, North America, Europe, and Rest-of-the-World.

Among all the regions, North America is estimated to witness significant growth in the market owing to the presence of leading countries such as Canada and the United States in this region. The growth is attributed to the to the presence of a large number of service providers in this region.

Europe is anticipated to showcase a substantial growth in the market owing to the presence of leading countries such as Germany, France, and the United Kingdom with a high adoption rate of cloud services.

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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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