Application Hosting Market Size, Share & Trends Analysis Report, By Hosting Type (Managed Hosting, Cloud Hosting, Colocation Hosting), By Service Type (Application Monitoring, Application Programming Interface Management, Infrastructure Services, Database Administration, Backup And Recovery, Application Security), By Application (Mobile applications, Web-based applications), Organization Size (Large Enterprises, SMES), By Vertical (Banking, Financial Services, And Insurance, IT/ITES, Telecom, Media & Entertainment, Retail & E-Commerce, Healthcare & Life Sciences, Manufacturing, Energy & Utilities, Other Verticals and by region (North America, Europe, Asia-Pacific, Middle East, and Africa and South America).
Global application hosting market size is projected to grow from USD 66.9 billion in 2022 to USD 121.7 billion by 2030, at a CAGR of 12.9%
Profit from the expansion of application hosting usage across numerous industries. The creation of application hosting solutions enables connectivity to hosted apps that connect to existing data, easy and seamless feature updates, and module-based billing. In addition, there is a higher demand for these services globally due to their ease of installation, which is anticipated to fuel market growth.
The COVID-19 pandemic was beneficial to the market's growth. The need for broadband connections increased as more businesses started operating remotely. The application of cutting-edge technologies in multiple industries, such as telemedicine, robots, augmented reality, and virtual reality, also had an impact on the market expansion. Additionally, the majority of firms turned to e-commerce and built virtual purchasing experiences for the consumer to have a bigger presence throughout the pandemic, which benefited the sector.
Numerous service providers for these solutions are emerging as a result of the development and deployment of application hosting across numerous end-use industries, generating a profitable opportunity for the industry. Service providers are able to deliver services that meet clients' needs and stay within their budget, which is anticipated to boost market growth. Additionally, the market expansion is being fuelled by the increased popularity of server hosting among small business owners due to its affordability, less risk of data loss, and built-in upgraded software that boosts performance.
North America region to dominate the market