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DUBLIN, Nov. 22, 2022 /PRNewswire/ — The “Global Application Hosting Market by Hosting Type (Managed, Cloud, & Colocation), Service Type, Application Type (Web-based, Mobile), Organization Size, Vertical, and Region (North America, Europe, APAC, Latin America, MEA) – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
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The application hosting market is projected to grow from USD 66.9 billion in 2022 to USD 121.7 billion by 2027, at a CAGR of 12.7% during the forecast period.
By organization size, the SMEs segment is projected to register a higher CAGR during the forecast period
SMEs is a faster-growing segment in the application hosting market compared to large enterprises. Most of these organizations lack the funds to build their infrastructure and employ resources to manage these infrastructures.
Cloud hosting services empower these organizations to host their applications, leveraging the infrastructure of some other service provider at an affordable cost. Features such as flexibility, disaster recovery, automatic updates, CAPEX free, collaboration, document control, and security encourage SMEs to host their applications in the cloud environment at a rapid pace.
Web-based application type is estimated to account for the largest market share in 2022
Web technologies are changing rapidly with the evolution of new technologies. These technologies are reshaping enterprise business applications. Enterprises understand the importance of web-based applications, and hence, invest more in this segment to gain a competitive advantage.
Moreover, enterprises are incorporating the latest technologies, such as AI chatbots, motion UI, blockchain, Augmented Reality (AR), and push notifications, in their web-based applications.
Among regions, the market in Asia Pacific is projected to register the highest CAGR during the forecast period
The growth of the application hosting market in Asia Pacific is highly driven by technological…
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