DUBLIN--(BUSINESS WIRE)--The "Managed Application Services Market by Service, Application Type, Organization Size, Vertical, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The managed application services market size is estimated to be USD 2.02 Billion in 2017 and is expected to reach USD 5.54 Billion by 2022, at a CAGR of 22.4% during the forecast period.
The major factors driving the growth of the market include the increasing demand for end-to-end application hosting services and the rising sophistication level of application infrastructure.
The large enterprises segment is expected to hold a larger market share during the forecast period, owing to the increasing focus on reducing Capital Expenditure (CAPEX) and Operating Expenditure (OPEX).
The Banking, Financial Services, and Insurance (BFSI) vertical is estimated to have the largest market share in 2017 due to the adoption of omnichannel business models.
- Rising Demand for End-to-End Application Hosting Services is Triggering the Strategy of Service Differentiation
- Increasing Degree of Business Risks Posed By Application Vulnerabilities
- The Need to Focus More on Core Competencies
- Cloud Deployment Going Mainstream
- The Need to Minimize Security Risks Associated With Business Operations
- Lack of Trust in Third-Party Applications and Fear of Losing Control Over Application Data
- Increasing Adoption of Mobile Devices and the Evolution of IoT
- Rapid Adoption of Integrated Cloud Application Solutions Among the SMES
- The Rapid Digitalization Trend in the Emerging Economies
- Less Awareness About Applications and Low Network Bandwidth in Certain Regions
- Huge Deployment Costs and the Need to Quickly Deploy Applications to End-Users
- Lack of New Age IT Infrastructure
- BMC Software
- SMS Management and Technology
- Yash Technologies
For more information about this report visit https://www.researchandmarkets.com/research/c8zv45/global_managed?w=4