Application Management Services Market 2020: Sales Revenue, Competitive Landscape, Opportunity Assessment and Potential of the Industry by Forecast 2023
Business organizations generally maintain IT applications to drive their business operations and application services, these application services are creating a huge demand from the end-users. Application Management Services (AMS) facilitate and support business organizations to maintain high levels of service quality and fulfill the demand for rapidly increasing innovation in the market. AMS also help to restore existing application service operations and lower negative business impact. The AMS facilitates a cost effective service solution for the business organization to stabilize their existing services and transform into applications innovation and enhancement.
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There are many companies in market, such as IBM, Capgemini, Infosys, Dell Inc., Cognizant, and others, which provide application management services. Additionally, the application management services market is also witnessing partnerships, collaborations, and agreements that contributing to the growth of the market. For instance, on January 2018, HCL technologies, one of the leading global IT services company, signed an IT infrastructure services and application management contract with Cadent, an U.K based gas distribution network. By this contract, HCL will provide support services to Cadent’s business operations, which distributes gas to 11 million homes and business units in different parts of the U.K region, namely North West, Midlands, East, and South East of England.
The global application management services 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.
Geographically, the application management services market spans across regions namely, Asia Pacific, North America, Europe, and Rest-of-the-World.
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.
Market research future identifies some of the key players of Application Management Services market are Accenture (Ireland), Atos(France), Infosys(India), Oracle Corporation (U.S.), SAP SE (Germany), Deloitte (U.S.), Dell Inc. (U.S.), Optimum Solutions (Singapore), Neoris (U.S), Sierra-Cedar, Inc. (U.S.), Capgemini (France), Cognizant (U.S.), Fujitsu (Japan), DXC (U.S.), HCL (India), IBM (U.S.), Wipro (India), and Tech Mahindra (India).
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