Application Management Services Global Market Report 2022: Ukraine-Russia War Impact

NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Major players in the application management services market are Accenture plc, Fujitsu Limited, IBM Corporation, DXC Technology, HCL Technologies, Wipro Limited, Atos, Capgemini SE, Cognizant, Tech Mahindra, Dell, Infosys Limited, Oracle Corporation, SAP SE, Deloitte Touche Tohmatsu Limited, Amazon Web Services, Google LLC, Larsen & Toubro Infotech Limited, Micro Focus International plc, Optimum Solutions and Neoris.



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The global application management services market is expected to grow from $23.44 billion in 2021 to $28.30 billion in 2022 at a compound annual growth rate (CAGR) of 20.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The application management services market is expected to grow to $59.68 billion in 2026 at a compound annual growth rate (CAGR) of 20.5%.

The application management services market consists of sales of application management services by entities (organizations, sole traders, and partnerships) that are used to provide ongoing support for the apps to an external provider that specializes in maintenance and monitoring. Application management services refer to the services of enterprise application management provided by various organizations to companies that need to outsource their enterprise application management processes.

The types of services in application management services are application portfolio assessment, application security, application modernization, web & mobile, cloud application migration, and other service types.The application portfolio assessment refers to the service that scans and evaluates applications by using analytics on them.

The deployment types include on-premise and cloud.The organizations include small and medium-sized enterprises and large enterprises.

The various industry verticals include telecom & IT, BFSI, healthcare, retail and eCommerce, government & defense, manufacturing, and other industry verticals.

North America was the largest region in the application management services market in 2021.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 and Africa.

The high demand for mobile apps is expected to propel the growth of the application management services market.Mobile apps refer to the kind of software intended for use on a mobile device, like a tablet or smartphone.

Application management services help mobile apps provide and control access to internally develop and commercially available mobile apps used in business settings. For instance, in October 2020, according to the data published by Sensor Tower, a US-based technology, information, and internet company engaged in mobile analytics and mobile data, in the third quarter of 2020, on Apple's App Store, consumer spending on in-app purchases, subscriptions, and premium apps increased by 31% to reach $19 billion, from $14.5 billion as compared to the previous year 2019. However, the number of app installations increased by 23.3% from 29.6 billion in 2020 as compared to 2019. Therefore, the high demand for mobile apps is driving the growth of the application management services market.

Strategic partnerships and collaborations are a key trend gaining popularity in the application management services market.The major players in the application management services sector are focused on partnerships and collaborations to sustain their market position.

For instance, in May 2021, CapTech Consulting, a US-based IT services and consulting company, partnered with Workday, a software development company, for Workday Application Management Services.This partnership enables advanced technology integration along with data insight and change management.

With Workday Financial Management and Workday Human Capital Management, Workday AMS enables Captech to offer continuing functional, technical, and administrative assistance to clients in production (HCM).

In November 2020, IBM, a US-based technology corporation, acquired Instana for an undisclosed amount.With the acquisition of Instana, IBM can deliver the most advanced AI-powered automation capabilities available to handle the complexity of modern applications running across multiple hybrid cloud environments.

Also, as a result of quick automatic feedback on their CI/CD pipeline, DevOps teams may significantly speed up deployment while also improving quality and reliability. Instana is a US-based company that offers application observability and monitoring solutions.

The countries covered in the application management services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The application management services market research report is one of a series of new reports that provides application management services market statistics, including application management services industry global market size, regional shares, competitors with a application management services market share, detailed application management services market segments, market trends and opportunities, and any further data you may need to thrive in the application management services industry. This application management services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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