Application Hosting Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2027
The Application Hosting Market is projected to grow from USD 66.9 billion in 2022 to USD 121.7 billion by 2027, at a CAGR of 12.7% during the forecast period, which is fueled by the software-centered competitive advantage approach.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=83123677
Cloud hosting type is expected to register the fastest growth rate during the forecast period.
The cloud hosting model is evolving rapidly in the application hosting market. Enterprises including large enterprises and SMEs have adopted cloud hosting, as it enables them to focus on their core competencies, instead of spending their capital on appliance-based infrastructure. Using cloud hosting services, enterprises can avoid costs pertaining to hardware, software, storage, and technical staff. Cloud hosting offers a centralized way to secure web and mobile applications across an organization, throughout the application development lifecycle. Enterprises support all types of cloud environments, including private, public, and hybrid, with easy and automatic deployment, detection, and monitoring of cloud applications and services. There has been an upward trend in the hosting of cloud applications.
BFSI vertical estimated to account for the largest market share in 2022
The need to consolidate the cost of IT and infrastructure is driving the BFSI vertical to host its applications on the cloud. Migrating applications to the cloud provides the banking industry with agility and flexibility to deploy IT infrastructure and legacy systems in a cost-effective manner. Additionally, application hosting services enable banks and financial institutions to transform their commercial processes and grow gradually in new sectors and regions without spending heavily to establish a physical presence. Hosting services help in creating new markets and services for customers, and in gaining a competitive edge in the market.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=83123677
The major vendors covered in the application hosting market include Amazon Web Services (AWS), IBM Corporation (IBM), Google, LLC. (Google), Rackspace Inc. (Rackspace), Microsoft Corporation (Microsoft), Liquid Web, LLC (Liquid Web), Sungard Availability Services (Sungard AS), DXC Technology Company (DXC), Apprenda Inc. (Apprenda), NaviSite, LLC (Navisite). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, collaborations, and new product launches, to expand their presence in the application hosting market.
Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon that offers on-demand cloud computing platforms and APIs to people, businesses, and governments. It is a leading cloud provider in the marketplace. AWS is an online platform that provides cost-effective and scalable cloud computing solutions. Amazon offers services for cloud applications such as compute service, storage, database, developer tools, security tools, networking, and delivery of content. The company caters to developers and all size enterprises, such as start-ups, government agencies, and academic institutions. It offers key infrastructure services to businesses in the form of web services, known as cloud computing. The company offers solutions such as Amazon WorkSpaces that runs on the AWS cloud. It also provides the service AWS Managed Services (AMS).
IBM is an American multinational technology corporation that manufactures and sells computer hardware and software and provides infrastructure services, consulting services, and hosting services in fields ranging from mainframe computers to nanotechnology. The financing services in support of its computer business are also provided by the company. The company operates in more than 150 countries. IBM offers various services, which include infrastructure services, outsourcing, application management services, Global Process Services (GPS), maintenance and support, consulting, and other managed services. It offers managed services such as enterprise application services, managed mobility services, workplace services, backup and recovery services, network services, security services, and storage services. IBM also extended its managed services in the cloud through various offerings like Infrastructure-as-a-service (IaaS), Platform-as-a-service (PaaS), and Software-as-a-service (SaaS). IBM caters to various verticals, including automotive, telecommunications, financial services, health, aerospace & defense, insurance, life sciences, and retail. Also, it offers Desktop-as-a-Service (DaaS) solutions that enable organizations to provide its users convenient, consistent access to applications and data across devices.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/application-hosting-market-83123677.html
