Surge Protection Devices Market Trends, Share, Growth, Company Profiles 2022 Future Market

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Surge Protection Devices Market Trends, Share, Growth, Company Profiles 2022

Future Market Insights projects that application
management services market is poised to record robust CAGR of 8.6%
from the period 2017 to 2022.

In the ever-changing, complex IT landscape of the 21^st century,
the cost of maintenance continues to grow at a staggering pace. Application
management specialists hold the key to overcoming challenges by application
performance improvement, thereby achieving better business results.

Application management services are delivered several
diverse organizations that need to outsource the process of application
management. The companies providing this service have expertise in the field of
information technology or an expertise of managing similar application for
organizations in the same line of business.

The
BFSI segment has the largest revenue share by industry segment at the end
of 2017 and is expected to gain substantial share in future. An absolute
dollar opportunity of more than US$ 7.4 billion is waiting to be tapped in
the BFSI segment from 2017 to 2022. The maximum opportunity in the BFSI
segment lies in North America, followed by Europe. Healthcare is a vital
segment that should require the services of application management
services in the near future. A high CAGR is anticipated in the healthcare
segment and North America with its geriatric population and well-developed
healthcare infrastructure might be critical in the long-run

The
retail & consumer goods segment is poised to gain massive share over
the forecast period and companies would do well to focus on this industry
in the application management services market. Retail & consumer goods
is predicted to grow past a value of US$ 18.8 billion by end 2022, making
it large enough for all companies. Strong economic growth in the APEJ
region, largely riding on the shoulders of China and India, should lead to
a retail boom in this dynamic, populous nations. Furthermore, these
countries can be considered ‘mobile first’ or even ‘mobile only’ ensuring
that they are perfect for application management service players to target
with all guns blazing

IT
& Telecom has marginal revenue share in application management
services market but is on track to lose significant share over the
five-year forecast. North America is the only region in the IT &
Telecom segment that could be worth more than US$ 2.2 billion by end 2022
even though a higher CAGR is estimated in both Japan and APEJ. The
government and engineering segments have a single-digit revenue share in
application management services market with the latter being slightly
larger. However, the government segment may show marginal growth and
companies with a customized go-to-market strategy could well achieve
success

Application Modernization and Application Testing Key for
SuccessApplications need to be constantly updated to ensure that they have
all the latest functions and capabilities post which testing is imperative. The
application modernization has a revenue share of approx. a sixth of the
services type segment in the application management services market at the end
of 2017 and should gain substantial share going forward. The application
modernization is predicted to record an exponential growth rate in excess of 10%
from 2017 to 2022, making it very lucrative indeed.

Application testing has a smaller revenue share but is
equally if not more important than application modernization to ensure that any
and every bug is nipped in the bud. Companies involved in application testing
would do well to target North America and Europe as both regions are the
largest in the application testing management segment by a considerable margin.

Companies profiled in the application management services
market report include KPIT Technologies Limited, Hexaware Technologies
Limited, Wipro Limited, Infosys Limited, CA Technology Inc., HCL Technologies,
Capgemini SE, NTT DATA Corporation, IBM Corporation, and Accenture PLC

Close Battle Between System Integration Management and
Application Outsourcing

The application outsourcing management and system
integration management segment have a similar revenue share in the application
management services market with the former edging slightly ahead. The
application outsourcing management segment is anticipated to have a value of
almost US$ 20.5 billion by the end of the forecast period. North America is
critical in the application outsourcing management segment.

The CAGR in the system integration management segment is
much lower in comparison and it is poised to lose market share for the
foreseeable future. Along with North America, companies would do well to target
Europe in the system integration management segment of the application
management services market.

Application Management Services Market TaxonomyRegion