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The application platform market share is expected to increase by USD 3.49 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.75%.
The application platform market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by deployment (on-premises and APaaS) and geography (North America, Europe, APAC, South America, and MEA).
The market report also offers information on several market vendors, including Adobe Inc., Akamai Technologies Inc., Alphabet Inc., Appian Corp., Betty Blocks BV, BMC Software Inc., Caucho Technology Inc., Cisco Systems Inc., F5 Networks Inc., FURUKAWA Co Ltd, GigaSpaces Technologies Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Micro Focus International Plc, Microsoft Corp., Nastel Technologies Inc., Navisite LLC, OptimaJet LLC, Oracle Corp., Perforce Software Inc., Salesforce Inc., SAP SE, Siemens AG, Temenos AG, TmaxSoft Inc., VANTIQ Inc., and Wipro Ltd among others.
BMC Software Inc. is a privately held company headquartered in the US. It is a global company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global application platform market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. Under this segment, the company offers application software such as IT operations management, Helix and Compuware.
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Technavio categorizes the global application platform market as part of the global systems software market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the application platform market during the forecast period.
The growing popularity of cloud-based services is notably driving the market growth, although factors such as issues associated with vendor lock-in may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Market Driver
The growing popularity of cloud-based services is a major factor driving the global market share growth. SMEs are adopting aPaaS solutions to help organizations to adopt hardware, middleware, OS, software, and resources as and when required. Organizations require high CAPEX and OPEX to purchase and maintain all of them and to establish their data centres. Consequently, they are adopting cloud platforms as provide cost shifts from CAPEX to OPEX, reduced setup and labour costs, and reduced expansion costs. Cloud security solutions can easily integrate with any data, which allows the creation of data-centric applications. This factor provides a new level of connected experience to application users, thus giving them relevant, contextual information in real-time. Therefore, rather than depending on a specific web application development framework, cloud-based solutions offer enterprises the benefit of using a single, all-purpose development framework as per their need and pay per use. This helps to reduce the extra cost incurred to build different platforms and enables organizations to introduce applications or products in less time. Due to such reasons, it is estimated that the demand for the market will continue to grow during the forecast period.
Key Market Trend
The launch of application platforms is another factor supporting the global market share growth. To offer better applications, application developers and enterprises are using application platforms that reduce software development and deployment time, and consequently, vendors are launching application platforms. The developments by some of the vendors will also encourage other vendors to come up with innovative products. For instance, Hewlett Packard Enterprise Co. (HP) launched HP Workpath, a new cloud platform, and developer ecosystem, to enable print resellers and developers to create applications for business processes. In April 2019, Google, a division of Alphabet., launched Anthos, an open platform that enables users to run applications from anywhere, even their existing on-premises hardware or on a public cloud. Such product launches will increase the availability of new and advanced applications to end-users, which can boost the adoption of application platforms during the forecast period.
Key Market Challenge
The rising issues associated with vendor lock-in will be a major challenge for the global market share growth during the forecast period. Vendor lock-ins, also known as customer lock-ins or proprietary lock-ins, mean customers using products or services of a vendor cannot easily switch to other vendors' products or services. This makes customers dependent on a vendor for products and services, due to which enterprises/customers cannot use the technology, solution, or service developed by other vendors. It becomes difficult to switch aPaaS providers after an application is built by using the application platform and required tools. Moreover, vendors or solution providers may not support the same programming language, API, architecture, library, or OS. Although it is possible to switch PaaS and aPaaS providers, however, changing vendors and solution providers can be a time-consuming, labour-intensive, and expensive process. Switching vendors may even result in rebuilding and altering applications to fit the new platform. Essentially, vendor lock-ins can pose a challenge to the global market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our In-house experts produce extensive information on the value chain and parent market of the application platform market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
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31% of the market’s growth will originate from North America during the forecast period. The US is the key market for application platforms in North America. Market growth in this region will be slower than the growth of the market in APAC.
The region has a significant presence of prominent vendors and these vendors are offering both on-premise and cloud-based aPaaS application platforms. This will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The market share growth by the on-premises segment will be significant during the forecast period. The on-premises segment offers better security compared with the APaaS deployment model. In this deployment model, the data is stored on dedicated servers that offer greater control and security over the information. Additionally, data can be accessed only through dedicated client servers. This has influenced the growth of the market further.
This report provides an accurate prediction of the contribution of all the segments to the growth of the application platform market size and actionable market insights on the post-COVID-19 impact on each segment.
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Application Platform Market Scope |
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Report Coverage |
Details |
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Page number |
146 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.75% |
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Market growth 2022-2026 |
$ 3.49 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.67 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 31% |
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Key consumer countries |
US, China, Australia, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Adobe Inc., Akamai Technologies Inc., Alphabet Inc., Appian Corp., Betty Blocks BV, BMC Software Inc., Caucho Technology Inc., Cisco Systems Inc., F5 Networks Inc., FURUKAWA Co Ltd, GigaSpaces Technologies Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Micro Focus International Plc, Microsoft Corp., Nastel Technologies Inc., Navisite LLC, OptimaJet LLC, Oracle Corp., Perforce Software Inc., Salesforce Inc., SAP SE, Siemens AG, Temenos AG, TmaxSoft Inc., VANTIQ Inc., and Wipro Ltd |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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