Global Application Management Services Market

Global Application Management Services Market Size, Share, Growth Analysis, By Deployment(On-premise, and Cloud), By Application(BFSI, Healthcare) - Industry Forecast 2024-2031

Report ID: SQMIG45E2150 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 65 | Figures: 75

Global Application Management Services Market News

  • June 2022 Regardless of a customer's cloud path, AWS Managed Services (AMS) accelerates a new cloud operations service that helps them achieve operational excellence. Accelerate provides customers with full access to all AWS services and can perform any workload on Amazon Web Services (AWS). Accelerate uses AWS services for operations and security, including AWS Systems Manager, AWS CloudWatch, Amazon GuardDuty, and AWS Config.
  • In April 2022, Accenture completed the acquisition of umlaut, a leading engineering services and consulting firm. This acquisition further strengthened Accenture's capabilities in digital engineering, including application management, software development, and testing, enabling the company to provide end-to-end solutions to clients across industries.
  • In January 2022, IBM Corporation announced the launch of IBM Cloud Application Management Services, a comprehensive suite of services designed to help businesses manage their applications in hybrid cloud environments. The service combines AI-powered automation, advanced monitoring, and optimization capabilities to enhance application performance and reliability.
  • In September 2021, Capgemini acquired Multibook, a Salesforce Platinum Consulting Partner. The acquisition bolstered Capgemini's Salesforce expertise and expanded its portfolio of application management services, allowing the company to offer enhanced Salesforce implementation, customization, and support services to clients globally.
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FAQs

Global Application Management Services Market size was valued at USD 10.74 Billion in 2022 and is poised to grow from USD 13.00 Billion in 2023 to USD 59.71 Billion, at a CAGR of 21% during the forecast period (2024-2031).

The global application management services market is highly competitive, characterized by the presence of numerous key players striving to gain a competitive edge in the industry. These players offer a range of application management services, including application development, monitoring, maintenance, support, and optimization. They compete based on factors such as service quality, technological expertise, industry experience, and pricing strategies. Several leading companies dominate the competitive landscape of the global application management services market. These companies have established themselves as trusted providers of comprehensive application management solutions. They continuously innovate and expand their service offerings to cater to the evolving needs of businesses across various industries. 'Accenture (Ireland)', 'IBM Corporation (US)', 'Infosys Limited (India)', 'Cognizant (US)', 'Capgemini (France)', 'Tata Consultancy Services (India)', 'Wipro Limited (India)', 'HCL Technologies (India)', 'DXC Technology (US)', 'Atos SE (France)', 'NTT DATA Corporation (Japan)', 'L&T Infotech (India)', 'Deloitte (UK)', 'PwC (UK)', 'Ernst & Young (UK)', 'KPMG (Netherlands)', 'CGI Inc. (Canada)', 'Tech Mahindra (India)', 'Fujitsu Limited (Japan)', 'Larsen & Toubro Infotech (India)'

Organizations across industries continued to prioritize digital transformation in 2022. This drive towards digitalization propelled the demand for application management services. Companies aimed to optimize their existing applications, develop new digital solutions, and enhance their customer experience through efficient application management. For example, a multinational retail corporation invested in application management services to revamp its e-commerce platform and improve online shopping experiences for customers.

Adoption of Artificial Intelligence (AI) and Automation: In 2022, the application management services market witnessed a growing trend of incorporating AI and automation technologies. Service providers integrated AI-based analytics, machine learning algorithms, and robotic process automation (RPA) to improve application monitoring, incident resolution, and performance optimization. This trend allowed businesses to achieve faster issue detection, proactive problem-solving, and increased operational efficiency.

North America emerges as the dominating region in the global application management services market. This region boasts a mature and technologically advanced market, with a strong presence of major IT service providers and software vendors. The United States, in particular, plays a significant role in driving the growth of the application management services market in North America.

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