The global application hosting market size is expected to reach USD 169.8 billion by 2030, according to a new study by Polaris Market Research. The report “Application Hosting Market Share, Size, Trends, Industry Analysis Report, By Hosting Type; By Service Type; By Application (Mobile-based, Web-based); By Organization Size; By Vertical; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for application hosting for different application is owing to the increasing integration of cloud computing, mainly software as a service (SaaS) that allow remote accessibility. Furthermore, rising internet users, technological innovations, and regulatory compliance requirements are projected to drive the demand for the application hosting market.
Moreover, application hosting enables businesses to operate various services, including managed backup and security services. Application monitoring offers customized tools that address threats and issues to improve the company’s operation and customer experience. Additionally, application hosting provides solutions that boost scalability, security, and dependability, creating a lucrative opportunity for hosting solutions with additional services, which is expected to drive market growth.
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In addition, the rising demand for application hosting across various businesses is due to the adoption of SaaS technologies that help organizations to organize and automate their operations. This solution allows enterprises to combine all their operations from production to supply chain in a single system, increasing demand across various applications. Moreover, the data generated enable the company to make an actual data-driven decision and assure governance compliance, lowering the risks of data breaches and cyber threats; such factors are expected to fuel the market.
The COVID-19 pandemic positively impacted the demand for application hosting services, as working from home was the major trend during the period. Many companies operate remotely, mainly relying on cloud computing solutions to accomplish the business's goals. In addition, growing government investment in developing cloud offerings for the healthcare industry and consumer shift from cash to cashless payment modes via digital platforms also boosted the market.
Application Hosting Market Report Highlights
Polaris Market Research has segmented the application hosting market report based on hosting type, service type, application, organization size, vertical, and region:
Application Hosting, Hosting Type Outlook (Revenue - USD Billion, 2018 - 2030)
Application Hosting, Service Type Outlook (Revenue - USD Billion, 2018 - 2030)
Application Hosting, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Application Hosting, Organization Size Outlook (Revenue - USD Billion, 2018 - 2030)
Application Hosting, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Application Hosting, Regional Outlook (Revenue - USD Billion, 2018 - 2030)