The increasing scope of service-oriented architecture is boosting the application development market growth to a large extent. The service-oriented architecture is widely used among organizations. It is involved in web-based applications in which the user can work on multiple implementation platforms. The emerging technologies such as artificial intelligence also boost the market growth.
The global Application Development Market is expected to reach USD 9,336 Million at a CAGR of over 21% by the end of the forecast period.
On May 10, 2017, Microsoft Corp. announced new tools and services for the developers to modernize existing apps for every platforms and build more intelligent apps. On Nov. 15, 2017, they introduced Azure Databricks, a data platform technologies and cross-platform developer tools, a new artificial intelligence, internet of things and machine learning tools for developers. This platform would support continuous innovation and deployment of intelligent applications. On November 4, 2015, they went into partnership with Red Hat Inc. to help users to embrace hybrid cloud computing by building, deploying and managing applications.
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Major Key Players:
• International Business Machines Corporation (U.S.)
• Salesforce.com, Inc. (U.S.)
• Microsoft Corp. (U.S.)
• Oracle Corp. (U.S.)
• SAP SE (Germany)
• Hewlett Packard Enterprise Company (U.S.)
• Alphabet Inc. (U.S.)
• ServiceNow, Inc. (U.S.)
• CA Technology Inc. (U.S.)
• Compuware Corp. (U.S.)
• Fujitsu Ltd (Japan)
• HCL Tech (India)
• Red Hat, Inc. (U.S.)
• Wipro LTD (India)
• NEC Corp. (Japan)
Application Development Market Segmentation:
The global application development market is segmented into component, application, end users and region. The component is sub-segmented into hardware, software, services and others. The services are further sub segmented into Integration and maintenance.
The deployment segment is sub-segmented into on cloud, on premises. The end-users segment is sub-segmented into BFSI, IT and telecommunications, media and entertainment, transportation, and others. The global market is spanned across North America, Europe, Asia Pacific, and rest of the world.
Market Research Analysis:
The global application development market consists of the Americas, Europe, Asia Pacific, and Rest of the world. North America is dominating the global application development market.
The application development market is witnessing high growth due to increase in demand for cloud-based applications development, among end users including BFSI, IT and telecommunications, media and entertainment, and transportation. Europe is projected to hold the second largest share of the global application development market during the forecast period due to increasing demand of internet of things in this region. Asia Pacific is expected to witness the highest CAGR in the coming years.
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The global application development market appears to be extremely competitive. In order to target, segment and position their sensors into the global market and to drive the market growth, the companies have to come up with the advanced technological solution to maintain themselves into competitive landscape.
Market leaders are investing into research and development for innovating their products continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, and cost-effective product portfolio.
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• Application development companies
• Application development providers
• Technical universities
• System integrators
• Managed Security Service Providers
• Professional service providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
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