Global Application Management Services Market Highlights Over 2022- 2031

The global application management services market is estimated to grow at a CAGR of ~20% over the forecast period, i.e., 2022-2031. Moreover, in the year 2021, the market registered a revenue of approximately USD 22.0 billion. The growth of the market can be attributed to an improvement in the quality of organizational service delivered by the service provider, a reduction in the operational cost of the service receiver, and an increase in the growth of technology according to customer needs. Moreover, an increase in the use of the internet is expected to increase the growth of the global application management services market. According to the World Bank, the overall percentage of the global population using the internet was 6.7 percent in 2005 and has since climbed to 56.7 percent in 2019.

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The global application management services market is segmented by enterprise type into large enterprises and small & medium enterprises. Out of these, the large enterprise segment in the global application management services market is estimated to witness the highest growth over the forecast period. The growth of the segment can be attributed to the requirement of large enterprises to outsource their services so that they can focus on key activities. Additionally, outsourcing services to other organizations reduce their costs and improves their service quality.

Global Application Management Services Market Regional Synopsis

Regionally, the global application management services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The Asia Pacific region in the global application management services market is estimated to witness noteworthy growth over the forecast period on the back of increasing growth in the usage of the internet, the presence of large vendors in the region, and growing demand for application management services from countries such as China and India. As per the World Bank, in China, 70.642% of the total population used the internet in the year 2020, and the usage rate is better as compared to other countries. Therefore, an increase in the usage of the internet will allow more organizations to opt for application management services.

Market Segmentation

Our in-depth analysis of the global application management services market includes the following segments:

By Enterprise Type

• Large Scale Enterprises

• Small & Medium Enterprises

 By Industry Type

• IT & Telecom

• Retail & Commerce

• Healthcare

• Government

• Others

 By Service Type

• Application Security

• Cloud Application Management

• System Integration Management

• Application Modernization

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Application Management Services Market

Growth Drivers

• Improvement in the quality of service delivered by service provider

• Reduction in operational cost of the service receiver

• Increase in the growth of technology according to customer needs

Challenges

• Lack of coordination between the services delivered by the service provider and the organization’s goals

• Shortage of staff and tools for managing the IT environment

Key Companies Dominating the Global Application Management Services Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global application management services market that are included in our report are Infosys Limited, HCL Technologies Ltd, IBM, Accenture PLC, Fujitsu Limited, Tech Mahindra Limited, DXC Technology Company, Capgemini Services SAS, Atos SE, Tata Consultancy Services, and others.

Latest Developments in the Global Application Management Services Market:

• 12 April 2021: Tata Consultancy Services has been selected as a strategic partner by SODEXO SA, for application management services. This collaboration will help SODEXO SA to have a better business model and provide enhanced services to its customers.

• 6 April 2022: Tech Mahindra Limited, announced a collaboration with Microsoft Corporation to provide the integrated security solutions to their customers.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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