TECH SUPPLIER Apr 2020 - Market Forecast - Doc # US46210216
Worldwide and U.S. Hosted Application Management Services Forecast, 2020–2024
This IDC study presents forecasts of spending (customer expenditures) for the hosted application management services market for the 2020–2024 period. This IDC research document includes advice to providers of HAM services, an analysis of key market and industry trends by importing market, key market drivers and inhibitors, significant market developments, and highlights of key changes from the prior forecast. This study also updates the previous forecast published in Worldwide and U.S. Hosted Application Management Services Forecast, 2019–2023 (IDC #US43777719, April 2019).
"COVID-19 has had a profound effect on businesses in the early stages of 2020. While 2019 showcased strong growth for hosted application management services, growth for the remainder of 2020 and beyond will depend on a variety of factors; especially as organizations across industry verticals battle against the impact that the virus has caused to their cash flows. Although spend on hosted application management services will continue over the long haul, enterprises are now laser focused on using cash to keep operations afloat. Because of that, IDC believes client organizations will seek to delay new contracts for hosted AM services in 2020, as well as adjust existing contract terms, payment schedules, and cash use due to the worldwide pandemic. Verticals like insurance and personal consumer are expected to be hit hardest by the virus' impact in the near team, while industries like healthcare and government may actually be opportunity areas for application services providers to target for the remainder of 2020 and into 2021. Regardless, this unprecedented pandemic is negatively affecting most industries and creating a very tough environment for hosted application management services providers to build upon their successes of 2019." — Pete Marston, research director, IDC's Worldwide Intelligent Application Services research
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List of Figures
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