The Application Management Services (AMS) Market is estimated to expand at 22 % CAGR over the forecast period (2020-2023) owing to the rapid development in the infrastructure, asserts Market Research Future (MRFR). Application management services support and facilitate business organizations in order to fulfill the demand for rapidly increasing innovation and maintain high level of service quality. It also facilitate a cost-effective service solution and helps to restore existing application service operations.
Drivers and Constraints Impacting the Market
With the increasing adoption of ready-made solution, the global application management services are likely to gain traction during the forecast period. Ready-made solutions help to reduce complexities in the management and deployment of AMS solutions. Moreover, these solutions can be re-used which reduces the cost of launching new products, thus making them more economical. This is likely to drive the market during the assessment period. Also, rise in mobile applications which surge the demand for management services is anticipated to propel the market growth during the forecast period.
On the flip side, high investment in application security which further increases the expenditure budget in IT applications is anticipated to inhibit the market growth during the assessment period. Moreover, rise in mobile application increases security risk for confidential and private information which is expected to hamper the market growth.
The global Application Management Services (AMS) Market has been segmented on the basis of organization size, service type, end-user, deployment, and region.
By mode of service type, the market has been segmented into support & maintenance, modernization services, system integration, database management, and consulting services. Among these, the segment for support and maintenance is predicted to be the dominant segment owing to large-scale demand from small, medium, and large enterprises.
By mode of deployment, the market has been segmented into on-cloud and on-premise. The adoption of cloud is likely to increase in the coming years owing to the changing business dynamics.
By mode of organization size, the market has been segmented into small, medium, and large enterprises.
By mode of end-users, the market has been segmented into BFSI, healthcare & life science, healthcare, government, manufacturing, retail & E-commerce, IT & telecom, and energy & utilities. Among these, the BFSI segment is the largest adopter of AMS due to the sheer complexity of applications and functions.
Among all the regions, North America is anticipated to showcase a significant growth owing to the presence of a huge number of service providers in this region. Moreover, Canada and the United States are the leading countries in this region which are driving the market growth over the assessment period.
Europe is anticipated to show considerable growth in the global market. Presence of countries like Germany, France, and the United Kingdom is likely to drive the market owing to the increasing adoption of cloud services.
Asia Pacific is also estimated to be the fastest growing region owing to the presence of leading countries such as Japan, India, and China. With the growing investment from advanced economies to expand small and medium business organizations are likely to contribute to the market growth.
Sprint and Ericsson have announced that they will build a virtualized core Internet of Things (IoT) network and operating system. According to the senior vice president of Sprint of IoT Ivo Rook, the network will be ready for 5G, with the network and OS to utilize Ericsson's IoT Accelerator platform.
The major players operating the global market are HCL (India), Sierra-Cedar Inc. (U.S.), SAP(Germany), Fujitsu (Japan), IBM (U.S.), Deloitte (U.S.), Tech Mahindra (India), Wipro (India), Capgemini (France), Cognizant (U.S.), Optimum Solutions (Singapore), Oracle Corporation (U.S.), Infosys (India), Dell Inc. (U.S.), DXC (U.S.), Neoris (U.S), Atos (France), Accenture (Ireland), and more.
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