The application management services market is expected to grow from USD 10.67 Billion in 2017 to USD 27.83 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period. Major drivers for the application management services market are the increasing need for business agility, accelerated time-to-market, emergence of Bring Your Own Device (BYOD), and proliferation of mobile apps that demand robust mobile application management services.
Key market players profiled in this report are Accenture (Republic of Ireland), Atos (France), Capgemini (France), Cognizant (US), Fujitsu (Japan), DXC (US), HCL (India), IBM (US), Wipro (India), and Tech Mahindra (India). These players offer application management services catering to the needs and demands of the market. They have adopted various growth strategies, such as partnerships, agreements and collaborations, business expansions, and new product launches. Partnerships, agreements, and collaborations have been the major growth strategies, followed by mergers and acquisitions.
Accenture is a leading provider of global management consulting and services. The company offers a wide range of services and solutions in strategy, consulting, digital, technology, and operations. Accenture has adopted a mix of organic and inorganic growth strategies, such as new product launches, partnerships, mergers and acquisitions, and business expansions. For instance, in August 2017, Accenture acquired VERAX, a Canada-based technology and consulting firm. This acquisition enhanced its financial service offerings in Canada. Furthermore, Accenture acquired Genfour, a UK-based automation service provider. In 2016, the company opened a new technology delivery center in Budapest, Hungary.
Atos is one of the leading service providers for application management and application transformation. The company has also adopted a strategic mix of organic and inorganic growth strategies in this market. The company focuses on the inorganic strategy to expand its reach and scope, in its journey of digital transformation. For instance, Atos partnered with OutSystems, a Portugal-based provider of the platform for low-code application development to help its clients modernize the legacy applications and ramp up the digitization of their businesses 10 times faster. The company is also strengthening its presence in North America. Atos acquired Xerox ITO, an Information Technology Outsourcing (ITO) business of Xerox; and Unify software, a provider of software-based enterprise unified communications and solutions. Atos also acquired Anthelio Healthcare Solutions, a provider of healthcare technology solutions. The company has opened its first business technology and innovation center in Dallas, US. This new facility is aimed at promoting innovation and offers its state-of-the-art services to the North American customers.
Application Management Services Market by Service (Application Portfolio Assessment, Application Modernization, Application Maintenance and Support, and Application Managed Services), Organization Size, Vertical, and Region - Global Forecast to 2022
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