Managed Application Services Market Growth Analysis By Size, Share, News, Demand

The managed application services market was valued at USD 3.08 billion in 2019, at a CAGR of 18.23% over the forecast period. The rise in demand for end-to-end application hosting services will increase the market in the forecast period. The managed application services allow the organization to outsource certain aspects of their IT requirements to a third-party service provider. The companies can reduce costs, boost productivity, and enhance application performance without spending time on implementation, maintenance, and upgradation of their IT related application. The increase in the adoption of smartphone devices and the implementation of the IoT services in the organization will drive the market in the forecast period.

– As customers have moved their workloads to the cloud, there is a growth in the usage of cloud-native architectures, particularly microservices. Microservice-based architectures help improve scalability and velocity, but implementing them can pose challenges. For many Java developers, Spring Boot and Spring Cloud have helped address these challenges, providing a robust platform with well-established patterns for developing and operating microservice applications. In October 2019, to help make it simpler to deploy and manage Spring Cloud applications, together with Pivotal, Microsoft has created Azure Spring Cloud.

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Key Market Trends

IT and Telecom is Expected to Hold Major Share

– The IT and telecom sector is a significant market for the managed application services, due to the high rate of various technological adoptions, increased frequency of confirmation of the BYOD policy, an increased need for high-end security due to the rapidly growing data among the organizations. The telecom industry has observed extensive growth during the past few years. Telecommunication companies are encountering constant pressure to deliver innovative services at lower costs to retain their customers in the competitive market.
– According to the 2019 SD-WAN Managed Services Survey, 64% of the surveyed network and IT managers are planning to add an SD-WAN managed service in the next two years. This is because the end-users believe it will deliver better security, improved cloud application performance, and flexible management. This demand is encouraging IT and Telcom service providers to purchase hardware, software, and regular administration of their networks from a third party. Many of the SD-WAN managed service providers are differentiating themselves with a wide range of security offerings
– According to Hazlecast Infinity Data report in collaboration with Intel, IT decision-makers identified cloud application performance (40%) as the number one opportunity to unlock profits, with financial services (49%), telecommunications (42%) and e-commerce (40%) ranking it the highest among verticals surveyed. However, security (97%) and performance (90%) were cited as two of the top challenges when migrating to the cloud.

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