Application Management Services Market: Key Players, Application and Future Scope, 2025

Application Management Services Market: Key Players, Application and Future Scope, 2025

A Chapter by Markets Insights
"

The global application management services market is estimated to reach USD 87.60 billion by 2025, according to a new report

"

The global Application Management Services Market is estimated to reach USD 87.60 billion by 2025, according to a new report by Grand View Research, Inc. The industry is expected to witness a steady growth owing to the increasing demand from the financial services sector and healthcare industry.


Application management services encompass a wide range of implementation and operational services that are vital to application maintenance, optimization, support and modernization, and migration. As the number of applications used and deployed by organizations is increasing continuously, the need to monitor and manage these services for business efficiency and continuity is driving the demand for application services across different industries.


Companies today make use of a myriad set of applications to address client needs, deal with numerous stakeholders in the value chain, and keep abreast with the rapidly evolving technology landscape. These conditions have been augmented with the advent of new trends such as Internet of Things, cloud, and analytics, which are disrupting the traditional system models. Owing to these factors, the application management services are anticipated to witness a steady rise in demand over the years to come.


The application services industry is quite mature, which can be attributed to the presence of many traditional service providers who are entrenched firmly in the market. As the technological adoption gains velocity in the industry, delivery models and service scopes are set to exhibit a dramatic change with Software as a Service and cloud deployments playing a significant role in the market.


Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/application-management-services-market


Further key findings from the report suggest:

  • The industry is marked by the presence of big enterprises such as Cognizant, Accenture, IBM, Capgemini, and Deloitte
  • The banking, financial services, and insurance segment is anticipated exhibit a significant increase in demand
  • IT cost reduction, digitalization, and the need for gaining agility, reliability, and integrated system models will shape the nature of services provided and sought after in the market
  • The impact of changing industry dynamics will be profoundly exhibited on outsourcing, whether offshoring or onshoring industries, at a global level
  • The lack of innovation, communication gaps, and inefficient methods for change management and governance may become major hurdles in the industry’s growth over the forecast period


© 2020 Markets Insights


My Review

Would you like to review this Chapter?
Login | Register




Request Read Request
Add to Library My Library
Subscribe Subscribe


Stats

19 Views
Added on January 23, 2020
Last Updated on January 23, 2020
Tags: Application Management Services

Market Research Reports


Author

Markets Insights
Markets Insights

Felton, CA



About
About Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..

Writing



Advertise Here
Want to advertise here? Get started for as little as $5