What Factors Propelled The Growth Of The Application Management Services Market In The Past?
The application management services market has seen considerable growth due to a variety of factors.
• The market size of application management services has seen a swift increase in the past few years. The market is expected to boost from $36.12 billion in 2024 to $41.72 billion in 2025, with a compound annual growth rate (CAGR) of 15.5%.
Factors such as the modernization of legacy systems, cost-effectiveness, a concentration on core competencies, demand for scalability, and improved performance and reliability can be credited for the growth witnessed in the historic period.
What Is The Expected Growth In The Application Management Services Market Size?
The application management services market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness remarkable expansion in the coming years, the market size of application management services is predicted to surge to $90.61 billion in 2029, with a compound annual growth rate (CAGR) of 21.4%.
This anticipated growth in the forecast period can be ascribed to the emphasis on user experience, integration of cybersecurity, DevOps and agile methodologies. Major trends within this predicted growth phase are quick technological advancements, transition to results-oriented models, the emergence of cloud-native application management, modernization of application services, along with automation and intelligent operations.
What Are The Key Drivers Fueling Growth In The Application Management Services Market?
The surge in demand for mobile applications is set to fuel the expansion of the application management services market. Mobile applications are a type of software program that is designed for use on mobile gadgets such as smartphones or tablets. These management services aid these applications in providing and regulating access to both internally developed and commercially available business-based mobile apps. For example, data from the 'Business of Apps', a B2B media and information entity based in the UK, revealed in May 2023 that the volume of app downloads exceeded 100 billion for the initial time in 2021, and it is estimated to hit 200 billion by 2025. Consequently, this rising demand for mobile applications is a significant driver of growth in the application management services market.
What Are The Primary Segments In The Global Application Management Services Market?
The application management services market covered in this report is segmented –
1) By Services Type: Application Portfolio Assessment, Application Security, Application Modernization, Web And Mobile, Cloud Application Migration, Other Service Type
2) By Deployment Type: On Premise, Cloud
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Industry Vertical: Telecom And Information Technology (IT), Banking, Financial Services And Insurance (BFSI), Healthcare, Retail And eCommerce, Government And Defense, Manufacturing, Other Industry Vertical
Subsegments:
1) By Application Portfolio Assessment: Application Inventory Analysis, Performance Evaluation, Cost-Benefit Analysis, Risk Assessment and Mitigation Strategies
2) By Application Security: Vulnerability Assessments, Security Testing and Audits, Identity and Access Management, Incident Response and Threat Management
3) By Application Modernization: Legacy System Migration, Microservices Architecture Implementation, User Interface (UI)/User Experience (UX) Enhancements, Cloud-Native Application Development
4) By Web And Mobile: Web Application Development, Mobile Application Development, Responsive Design and Optimization, Application Performance Monitoring
5) By Cloud Application Migration: Cloud Readiness Assessment, Migration Strategy Development, Cloud Infrastructure Setup, Post-Migration Support and Optimization
6) By Other Service Type: Application Support and Maintenance, DevOps and Continuous Integration/Continuous Deployment (CI/CD) Services, Custom Application Development, Consulting and Advisory Services
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Which Key Trends Are Driving Changes In The Application Management Services Market?
The expanding habit of establishing strategic collaborations and partnerships is a primary trend in the application management services market. Major entities in this sector are engaging in alliances to maintain a strong market stance. For example, Trianz, a technology and services corporation based in the US, established a partnership with Amazon Web Services Inc, a cloud computing firm also based in the US, in August 2024. The objective of this alliance is to redefine the field of cloud migration, optimization, management, and modernization. The partnership plans to enhance the same elements by merging Trianz's cutting-edge Concierto platform with AWS's powerful cloud infrastructure and services. This integration aims to provide fast, simple, and cost-efficient cloud adoption. The Concierto platform is a hyper-automatic, no-code, multilingual SaaS tool that covers the full cloud transition process for companies. It enables rapid cloud migration, PaaS modernization, hybrid cloud management, and optimizes cloud capabilities with full-circle observability and automated, AI-powered anomaly correction.
Who Are the Key Players in the Application Management Services Market?
Major companies operating in the application management services market include:
• Accenture plc
• International Business Machines Corporation
• Fujitsu Limited
• Tata Consultancy Services Limited
• Capgemini SE
• NTT DATA Corporation
• Larsen & Toubro Infotech Limited
• Cognizant Technology Solutions Corporation
• Infosys Limited
• DXC Technology Company
• Atos SE
• Wipro Limited
• Tech Mahindra Limited
• EPAM Systems Inc.
• TietoEVRY Corporation
• Unisys Corporation
• Virtusa Corporation
• Hexaware Technologies Limited
• Perficient Inc.
• Persistent Systems Limited
• Sonata Software Limited
• Zensar Technologies Limited
• Hinduja Global Solutions Limited
• Mphasis Limited
• NIIT Technologies Limited
• Datamatics Global Services Limited
• HCL Technologies Limited
• Happiest Minds Technologies Limited
• Mindtree Limited
• Consultants to Government and Industry Incorporated
• YASH Technologies Inc.
• Mindfire Solutions LLC
• Birlasoft Limited
• Microland Limited
• Mastek Limited
• Ness Digital Engineering Limited
• Trigent Software Inc.
What Is The Most Dominant Region In The Application Management Services Market?
North America was the largest region in the application management services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the application management services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
