Application Management Services Market to grow by USD 36.43 billion from 2022 to 2027, The ability of AMS offerings to enhance cost savings to boost growth- Technavio

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- The application management services market is estimated to grow by USD 36.43 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 20.11% during the forecast period. The ability of AMS offerings to enhance cost savings is notably driving growth. Application Management Services (AMS) help businesses reduce costs and streamline project portfolio management by centralizing IT infrastructure. This centralization enables better decision-making, improved performance, and avoids duplicating efforts, leading to lower operating costs. As businesses face diverse environments, particularly large enterprises, managing IT across multiple sites becomes challenging. AMS allows them to consolidate IT infrastructure, saving costs and enhancing performance by streamlining operations and services.

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Accenture Plc, Capgemini Service SAS, Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hexaware Technologies Ltd., Infosys Ltd., International Business Machines Corp., Mercer LLC, Meteorite Informatics Pte. Ltd., Mphasis Ltd., Resolute Technology Solutions Inc., Rimini Street Inc., ScienceSoft USA Corp., Tata Consultancy Services Ltd., Unisys Corp., Wipro Ltd., and Mindtree Ltd. are key companies.

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Technavio has segmented the market based on Type (Discrete AMS and Embedded AMS), End-user (Small, medium enterprises, and Large enterprises), and Geography (North America, APAC, Europe, Middle East and Africa, and South America). 

• The market share growth by the discrete AMS segment will be significant during the forecast period. Discrete Application Management Services (AMS) ensure alignment with business strategies, track project contributions, and enhance customer satisfaction while reducing risks. The global discrete AMS market is driven by the need to cut costs and improve business processes. Additionally, the rise of social media has ed vendors to offer more adaptable and collaborative software, enhancing business communication and marketing opportunities.

• North America is estimated to contribute 38% to the growth of the global market during the forecast period. In North America, application management services are in high demand from large corporations, SMEs, and government organizations across various sectors like BFSI, telecom, public sector, and oil and gas. Vendors are updating their offerings due to increased competition, with the US leading in adoption, followed by Canada and Mexico. The region benefits from English-speaking outsourcing vendors in countries like Canada, Costa Rica, Guatemala, and Mexico.

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• The rise of hybrid application integration technology is an emerging trend in growth. 
• A longer implementation process is a major challenge impeding growth.

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Application Management Services: Benefits

Application Management Services (AMS) provide numerous benefits across different industries. AMS helps in managing and optimizing application software, whether on-premises or on the cloud, ensuring efficient utilization of resources. It supports the development and maintenance of mobile apps, ensuring they meet business needs. AMS also encompasses managed services for mobile device management, ensuring that mobile devices are secure and optimized for business use. Additionally, AMS involves strategic management of IT resources, aligning them with business goals. This includes managing web applications and ensuring their smooth operation. Overall, AMS helps organizations leverage technology efficiently, whether for internal operations or customer-facing applications.

What are the key data covered in this Application Management Services Market report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth of the Application Management Services Market between 2023 and 2027
• Precise estimation of the size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Application Management Services industry across North America, APAC, Europe, Middle East and Africa, and South America
• A thorough analysis of the competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Application Management Services vendors

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The Information Technology Service Management (ITSM) Market size is projected to increase by USD 11.42 billion, at a CAGR of 14.34% between 2023 and 2028.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by End-user

Segmentation by Type

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.

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