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2021

Application Management Services Market

Application Management Services Market Size, Share, Competitive Landscape and Trend Analysis Report by Service (Application Portfolio Assessment, Application Security, Web Application Security, Mobile Application Security, Application Modernization, Cloud Application Migration, and Others), Organization Size (Small & Medium Enterprises and Large Enterprises), and End Use (BFSI, Telecom & IT, Government, Retail & Ecommerce, Healthcare & Lifesciences, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

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Author's: Abhijith Nair & Rachita Rake | Vineet Kumar
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Application Management Services Market Statistics: 2030

The global application management services market size was valued at $17,120 million in 2020, and is projected to reach $94,786 million by 2030, registering a CAGR of 19.1% from 2021 to 2030 

An application management service is a type of framework that outsources management by way of a customized, well-defined set of policies, processes, procedures, templates, and standards. Application management services are provided by a number of different organizations to companies that need such services. Organizations that agree to provide this service typically have an expertise in the IT sector or in similar applications for companies in the same line of business.

Application-Management-Services-Market--2021-2030

Application testing has a smaller revenue share, however, is equally if not more important than application modernization to ensure that any and every bug is nipped in the bud. Companies involved in application testing are expected to do well to target North America and Europe as both regions are the largest in the application testing management segment by a considerable margin.

In 2020, the global application management services market share was dominated by the application portfolio assessment segment, and is expected to maintain its dominance in the upcoming years. Increasing adoption of advanced software functionalities in business applications to increase business efficiency is expected to drive growth of the market. Companies are investing in advanced technologies to maintain their technological growth with changing customer demands.

Within the market, the application security segment is estimated to emerge as the fastest growing segment, Mobile and cloud-based computing technology have drastically changed the business scenario. Currently, most of companies use software applications to carry out their business process. For instance, Amazon highly depends on online websites and mobile applications to sell a wide range of products to consumers.

Strong in-app consumer spending, high smartphone penetration, and a relatively greater number of mobile application downloads have collectively ensured a high market share. U.S. is expected to emerge as a lucrative market for mobile games application, in terms of in-app payment, paid mobile games, and rapidly increasing user base of mobile apps in the country.

The report focuses on growth prospects, restraints, and application management services market analysis. The study provides Porter’s five forces analysis of the application management services industry to understand impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Application Management Services market trends.

Segment review

The global application management services industry is segmented on the basis of services, organization size, end use, and region. Based on services, the market is segmented into application portfolio assessment, application security, web application security, mobile application security, application modernization, cloud application migration, and others. On the basis of organization size, it is segmented into SME’s and large enterprises. By end use, it is segmented into BFSI, telecom & IT, government, retail & ecommerce, healthcare & Lifescience, manufacturing, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID Impact Analysis

Post the global COVID-19 pandemic, the application management services market is predicted to grow. This is attributed to rapid spread of the coronavirus around the world, which compelled many business organizations to transition to remote working and work from home modes during the COVID-19 lockdowns. As a result, organizations have turned to application management services and applications to assist them in managing their software and cloud applications remotely. Moreover, with the increasing importance of application management services and solutions helping in the digitization process of many small and medium level enterprises, causing the application management services market to propel during the times of the pandemic.

Top impacting factors    

Growing drive for next generation tech integration in modern business application and easing load of modern business operations are the major factors that is driving the market growth. However data privacy concerns and plastic nature of application management services is restraining the market growth. Further evolving consumer trends and Aftereffects of the COVID-19 pandemic and rise in demand to ease the operation complexity of employees working remotely is estimated to create a lucrative opportunity for the market.

Growing drive for next-gen tech integration in modern business applications

Modern business sector has seen some dramatic transitions in the last few decades, right from the way services are delivered to customers by physical services transforming into digital mediums The adoption of cloud technology, and the penetration of mobile phones and personal computers has led to an increased adoption of social media platforms that were hard to imagine just a few decades ago. These trends are compelling modern business organizations to stay up to date with newer technologies and innovations to keep on par with other players in the industry and their service offerings. Application management services assist such businesses in easily adopting these new-age digital transformations and help them expand their application(s) portfolio, thus the application management services market has witnessed a significant growth in recent years, which is expected to continue during the forecast period

Application Management Services Market
By Services
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Application Security segment is projected as one of the most lucrative segments.

Easing load of modern business operations

Modern business operation models are getting more complicated every day, with more variables to analyze, more data to handle, and more demands to meet. Application management services solutions reduce the burden on business enterprises and allow them to focus more on development and business end of an organization's activities rather than committing their critical and expensive IT resources. Application management services can assist development teams to enhance their capabilities while removing the need to engage extra qualified personnel for specific operations.

According to a survey published by Fujitsu, more than 42% of respondents who had room for digitalization in their business operations dealt with the global COVID-19 outbreak more efficiently. This serves well for the global application management services market, as more and more enterprises seek to use emerging capabilities and application management services that deliver services with low burden and expense.

Application Management Services Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

APAC is projected as one of the most significant region.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the Application Management Services market growth along with current trends and future estimations to elucidate imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on the application management services market size is provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the application management services market trends.
  • The quantitative analysis of Application Management Services market forecast for the period 2020–2030 is provided to determine the market potential.

Application Management Services Market Report Highlights

Aspects Details
Application Management Services Market By Services
By Services
  • Application Portfolio Assessment
  • Application Security
  • Web Application Security
  • Mobile Application Security
  • Application Modernization
  • Cloud Application Migration
  • Others
Application Management Services Market By Organization Size
By Organization Size
  • SME
  • Large Enterprise
Application Management Services Market By End Use
By End Use
  • BFSI
  • Telecom and IT
  • Government
  • Retail and ecommerce
  • Healthcare and Lifesciences
  • Manufacturing
  • Others
Application Management Services Market By Region
By Region
  • North America  (U.S., Canada)
  • Europe   (UK, Germany, France, Rest of Europe)
  • Asia-Pacific   (China, India, Japan, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Application Management Services Market By Key Market Players
By Key Market Players
  • Accenture plc
  • Amazon Web Services, Inc.
  • Dell Inc.
  • Google LLC
  • HCL Technologies
  • Infosys Limited
  • International Business Machines Corporation
  • Micro Focus
  • Oracle Corporation
  • SAP SE

Analyst Review

According to CXOs of the major companies, Applications need to be constantly updated to ensure that they have all the latest functions and capabilities post which testing is imperative. The application modernization has a revenue share of approx. a sixth of the services type segment in the application management services market at the end of 2017 and should gain substantial share going forward. The application modernization is predicted to record an exponential growth rate in excess of 10% from 2017 to 2022, making it very lucrative indeed.

Application testing has a smaller revenue share but is equally if not more important than application modernization to ensure that any and every bug is nipped in the bud. Companies involved in application testing would do well to target North America and Europe as both regions are the largest in the application testing management segment by a considerable margin.

Businesses are striving to adapt to the ever-changing demands of customers through the development of systems of innovation and differentiation and by inculcating new processes and delivery models, such as continuous delivery and integration. Besides these capabilities, industry vendors also offer numerous others such as modernization, migration, redeployment, and architectural redesigning. As such, the application services market is anticipated to grow at a healthy growth rate in the coming years. A major part of the application services is focused on enterprise applications, such as customer relationship management, enterprise resource planning, and human resource management services, which are provided by software vendors such as SAP, Oracle, and Microsoft. As an increasing number of small and medium businesses add these complex applications to their portfolio, their monitoring and management services demand is expected to rise.

 

Author Name(s) : Abhijith Nair & Rachita Rake | Vineet Kumar

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Application Management Services Market

Global Opportunity Analysis and Industry Forecast, 2020-2030