Application Platform Market by Deployment and Geography - Forecast and Analysis 2020-2024
Global Application Platform Market: About this market
Technavio’s application platform market analysis considers sales from both on-premises and aPaaS deployment. Our study also finds the sales of application platform in APAC, Europe, MEA, North America, and South America. In 2019, the on-premises segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as data security with physical access controls and security protocols will play a significant role in the on-premises segment to maintain its market position. Also, our global application platform market report looks at factors such as the growing popularity of cloud-based services, increasing capital investment in application development for mobile and web, and rapid development of mobile app ecosystem. However, issue associated with vendor lock-in, lack of awareness about PaaS services, and availability of open-source platforms may hamper the growth of the application platform industry over the forecast period.
Global Application Platform Market: Overview
Growing popularity of cloud-based services
Enterprises are gradually focusing on reducing their overall capital expenditure by adopting modern technologies. SMEs are adopting cloud-based services such as aPaaS solutions for leveraging key benefits offered including reduced setup and labor cost as well as minimized expansion cost. Also, cloud-based solutions provide enterprises the benefit of using a single, all-purpose development framework as per-per-need and pay-per-use. This popularity of cloud-based services will lead to the expansion of the global application platform market at a CAGR of over 5% during the forecast period.
Launch of application platform
Application developers and enterprises are increasingly developing application platforms for reducing software development and deployment time. Vendors are developing innovative platform solutions to create applications for business processes, to model blockchain applications on a preconfigured Azure-supported network, and to enable users to run applications on any platform. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global application platform market during the forecast period 2020-2024, click here.
With the presence of several major players, the global application platform market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading application platform manufacturers, that include BMC Software Inc., Cisco Systems Inc., GigaSpaces Technologies Ltd., International Business Machines Corp., Micro Focus International Plc, Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and Siemens AG.
Also, the application platform market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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