Global cloud services market is expected to grow over 16.5% over the forecast period. Highest growth is expected from cloud system infrastructure services which includes infrastructure as a service and is expected to have a growth rate of over 38.4% over the forecast period. The largest service segment in the industry is the cloud advertising that is expected to grow above 13.6% over the forecast period.
Application management systems are expected to witness significant growth over the forecast period on account of increasing use of cloud solutions in various end-use industries. An application management service comprises a combination of various implementation, projects and operational services in an organization to optimize its activities. They are used to maintain applications and support users for long term period. Various advantages include reduction of operational costs, improvements in software processes. Increasing adoption of these services in various end-use industries is expected to have a positive impact on the industry over the forecast period.
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Current market trend in application management services include outsourcing activities, hosting cloud applications and mobile models. There have been remarkable technological improvements and changing business models in recent times in addition to optimization of processes that drive the deployment of these applications.
Application management includes various domains such as application outsourcing as a part of packaged and custom management, hosted application management as a part of cloud modelling, customized application management that employ various application factory models, testing service portfolios provided by cloud providers and traditional systems.
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SaaS is the expected to be the fastest growing segment as organizations choose to drift away from infrastructure employing data centers and move their hardware into public oriented cloud based services to store data. Few market enterprises have become market leaders in this segment as they emphasize on differentiating the applications they provide by bringing about new ways of storing and maintaining data.
Software as a service (SaaS) is expected to grow at a CAGR of over 20.3% over the forecast period. Vendors in this market prefer moving to cloud based offering from on-premises licensed software systems that are much more expensive. This trend is expected to show remarkable improvements over the next seven years. Major vendors in cloud services is expected to have a positive impact on the overall industry over the next seven years.
Web applications, web services, client-server systems, content management, reporting, integration of different systems within an organisation form customized application development. Mobile applications comprise of bluetooth, GSM, GPRS, SMS and MMS applications.
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