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| Managed Application Services Market |
Managed Application Services Market, By Enterprise Size (Small and Medium Enterprises, Large Enterprises), By the End-user Industry (BFSI, IT, and Telecom, Healthcare, Retail, and e-commerce, Manufacturing, Other End-user Verticals), By Geography (North America, Europe, Asia-Pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.
According
to Coherent Market Insights, the global Managed
Application Services Market is estimated to be valued at US$ 4.29 Bn in
2022 and is expected to exhibit a CAGR of 21.9% between 2022 and 2030.
Market Overview:
Managed
Application Services (MAS) refer to the outsourcing of application management
tasks to third-party service providers. It involves the external management and
support of an organization's applications throughout their lifecycle, including
development, maintenance, support, monitoring, and optimization.
Competitive Landscape:
Major players operating in the global Managed Application Services Market
include HCL Technologies Limited, Virtustream Inc., CenturyLink Inc., Unisys
Corporation, Wipro Limited, IBM Corporation, Mindtree Limited, and Fujitsu
Limited.
Key Market Drivers:
The growing complexity of applications,
driven by factors such as digital transformation, cloud adoption, and the need
for integration across multiple systems, has led organizations to seek
specialized expertise for application management. This is expected to augment
the growth of the global Managed Application Services Market. For instance, in
May 2022, Microsoft introduced Microsoft Security Experts, which is a new
managed service category. Outsourcing application management allows
organizations to focus on their core competencies while relying on specialized
service providers for application development, maintenance, and support.
Managed application services offer cost optimization benefits as organizations
can leverage the expertise of service providers without the need for extensive
in-house teams and infrastructure investments.
Managed application services enable
organizations to scale their application management capabilities based on
business needs, ensuring flexibility and agility in a rapidly changing market
environment. This is estimated to enhance the growth of the global Managed
Application Services Market.
Covid-19
Impact Analysis:
The COVID-19 pandemic accelerated the
pace of digital transformation as organizations shifted to remote work models
and focused on enhancing their online presence. This increased the demand for
managed application services to support the development, maintenance, and
security of digital applications. The pandemic highlighted the importance of
cloud-based applications for remote collaboration and business continuity. As
organizations rapidly adopted cloud technologies, the demand for managed
application services to manage and optimize cloud-based applications also
surged. This boosted the growth of the global Managed Application Services
Market. For instance, in February 2022, IBM and SAP partnered in order to
provide consult experts and advanced technology, in order to aid clients in
embracing a hybrid cloud approach.
Key
Takeaways:
North America is expected to dominate
the growth of the global Managed Application Services Market, driven by the
presence of established service providers, a mature IT landscape, and a high
adoption rate of digital technologies across industries. For instance, in June
2022, AWS Managed Services (AMS) introduced an advanced cloud operation, which
will aid clients to achieve operational excellence.
The Asia-Pacific is estimated to witness high growth in the global Managed Application Services Market, primarily driven by emerging economies such as China and India. The region's expanding IT infrastructure, increasing digitalization efforts, and growing SME sector contribute to market growth. For instance, in October 2020, Fujitsu Limited approved the Fujitsu Hybrid IT service, which will assist users to create a Hybrid IT environment.
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