TECH SUPPLIER Apr 2021 - Market Forecast - Doc # US47613921
Worldwide and U.S. Application Management Services Forecast, 2021–2025
This IDC study presents forecasts of spending (customer expenditures) for the application management (AM) services market for 2021–2025. The research contained in this forecast includes advice to providers of AM 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. Application Management Services Forecast, 2020–2024 (IDC #US46210015, April 2020).
Pete Marston, research director of Worldwide Intelligent Application Services at IDC, explains, "Growth for application management services did better than expected in 2020. IDC estimated worldwide revenue would contract nearly 3%, but service providers proved resilient and growth was nearly flat for the year. As world economies and societies emerge from the devastation that COVID-19 caused, IDC expects application management services markets to recover and blossom once again. Application portfolios continue to expand, and diverse application portfolio expertise, intellectual property, and automation are what buyers are seeking from third-party providers to help achieve the corporate imperatives of enhanced agility and business growth. As a result, service provider investments in automation and analytics will continue to advance, and continued bundling of various services — such as consulting and advisory, analytics assessments, application development and testing, and modernization and migration — will aid providers with elevating services growth as the world looks to recuperate from the COVID-19 pandemic."
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