New York, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Application Management Services Market’ for the forecast period, i.e. 2022 – 2031, which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Profiling of key market players
Global Application Management Services Market Size:
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 majorly attributed to an improvement in the quality of organizational service delivered by the service provider, a reduction in operational cost of the service receiver, and an increase in the growth of technology according to customer needs. Furthermore, an increase in the use of the internet is expected to increase the growth of the global application management services market. According to the data by the World Bank, the overall percentage of the global population using the internet was 16 percent in 2005 and has since climbed to 60 percent in the year 2020.
Get a Sample PDF of This Report @ https://www.kennethresearch.com/sample-request-10154385
Global Application Management Services Market: Key Takeaways
- The Asia Pacific region to gain the largest portion of the revenue
- The large scale enterprises segment to dominate the revenue graph
- Healthcare segment remains prominent in the industry type segment
Increasing Digitalization across Various Companies around the World to Boost Market Growth
The emerging BYOD (Bring Your Own Device) policies across various organizations coupled with the strict regulations against the increase in the number of crimes and cyber-attacks is anticipated to be a major factor to drive the growth of the global application management services market. Application management services is designed to prevent unauthorized or malicious access to protect networks. Further, the rise in the usage of cloud-based services in enterprises across the world is estimated to offer lucrative growth opportunities in the global market. For instance, cloud-based services are expected to grow by nearly 31% in 2023 and it is estimated to grow more over the forecast period. Hence, it is estimated to be a significant factor to boost the market growth notably over the forecast period.
In addition to this, digitalization across various enterprises has been increasing throughout the years and is expected to increase even more over the projected years. Along with that, expenditure behind digitalization is also growing rapidly. For instance, higher than 60% of the world’s Gross Domestic Product (GDP) is predicted to be digitized by 2022, and digitally transformed organizations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for nearly USD 54 trillion. Hence, this is estimated to be a major factor to propel the growth of the global application management services market. Additionally, high adoption of technologically advanced products, and growing R&D activities to develop products that improve user comfort by companies in the global market are also propelling the expansion of the market.
Browse to access In-depth research report on Global Application Management Services Market with detailed charts and figures: https://www.kennethresearch.com/report-details/application-management-services-market/10154385
Global Application Management Services Market: Regional Overview
The global application management services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Internet Penetration among the Regional Population to Propel Market Growth in the Asia Pacific 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% 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 the application management services. Additionally, the advancement in technology and improvement in IoT & application management infrastructure are also projected to drive the application management services market growth majorly.
Get a Sample PDF of Global Application Management Services Market @ https://www.kennethresearch.com/sample-request-10154385
Technological Advancements throughout the North America Region to Favor the Regional Market Expansion
The North America region is anticipated to hold a substantial market share by the end of 2031 in the application management services market. This growth can primarily be ascribed to the increasing demand for a secure and fast-paced application management service throughout the region. Moreover, technical advancements in cloud- managed systems and enterprise IoT applications, and increasing cases of cyber-crime are estimated to be the prime factors to fuel the growth of the market in North America region. According to the FBI’s Internet Crime Report 2021, a record 847,376 complaints of cyber-crime were reported to the FBI by the public which was 7% jump from 2020. As application management services provide a more secure and better management approach to the sensitive information of individuals and enterprises, this is expected to be a significant factor to fuel the regional market.
Global Application Management Services Market, Segmentation by Enterprise Type
- Large Scale Enterprises
- Small & Medium Enterprises
The large scale enterprises 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 of services to other organizations reduces their costs and improves their service quality. It was observed that, globally, around 60% of companies outsource to cut costs. Furthermore, nearly 15 million jobs are outsourced from the US.[GK1]
Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.kennethresearch.com/sample-request-10154385
Global Application Management Services Market, Segmentation by Industry Type
- IT & Telecom
- Retail & Commerce
- Healthcare
- Government
- Others
The healthcare segment is anticipated to have a substantial growth in the global application management services market over the forecast period on the back of the increasing awareness in healthcare, increasing diagnosis rate, which results in increasing visits to healthcare facilities, existence of a huge patient pool in healthcare industry, and increasing health expenditure per capita among the global population. It was noted that, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
Global Application Management Services Market, Segmentation by Service Type
- Application Security
- Cloud Application Management
- System Integration Management
- Application Modernization
- Others
Few of the well-known market leaders in the global application management services market that are profiled by Kenneth Research 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.
For More Information or Query or Required Customization @ https://www.kennethresearch.com/sample-request-10154385
Recent Developments in the Global Application Management Services Market
- In April 2022, Microsoft Corporation and Tech Mahindra Limited established a partnership to offer clients an integrated security solution.
- In April 2021, SODEXO SA chose Tata Consultancy Services as a strategic partner for application management services. Through this partnership, SODEXO SA will be able to improve its business strategy and give its clients better services.
Browse More Related Reports:
Enterprise Quantum Computing Market Analysis by Vertical (Healthcare, BFSI, Aerospace & Defense, IT & Telecom, Energy & Utilities, and Others); by Component (Service, Software, and Hardware); by Deployment Mode (Cloud, and On -Premise); and by Application (Cyber Security, Deep Learning, Stimulation & Data Modelling, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Sexually Transmitted Disease Testing Market Analysis by Disease (Human Immunodeficiency Virus, Herpes Simplex Virus, Human Papillomavirus, Chlamydia, Syphilis, Gonorrhea, Cancroid and Others); by Location (Laboratory, and Point of Care); and by Device (Laboratory Devices, and Point of Care Devices)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Telecom-Analytics Market Analysis by Component (Services, and Solutions); by Application (Customer Care, Sales & Marketing Care, Network Care, Risk & Compliance Care and Workforce Care); by Enterprise Size (Small & Medium Enterprise, and Large Enterprise); and by Deployment (On-Premise, and Cloud)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Recommendation-Search Engine Market Analysis by Deployment (Cloud, On-Premise), By Type (Collaborative Filtering, Content-Based Filtering, Hybrid Recommendation Systems), and End-User Industry (Media & Entertainment, IT & Communication, BFSI, Healthcare, Retail and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
Robo Advisory Market Analysis by Service Providers (Traditional Wealth Managers, Banks, FinTech Robo Advisors, and Others); by Business Model Type (Hybrid, and Pure Robo Advisory); and by Service Type (Wealth, and Cash Management)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
About Kenneth Research
Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Contact for more Info:
AJ Daniel
Email: info@kennethresearch.com
U.S. Phone: +1 313 462 0609
Web: https://www.kennethresearch.com/
[GK1]https://teamstage.io/outsourcing-statistics/
