Application Hosting Market
The Application Hosting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Application Hosting Global Market Report 2024, The application hosting market size has grown rapidly in recent years. It will grow from $85.91 billion in 2023 to $97.18 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increasing demand for scalability, cost efficiency, globalization of businesses, security concerns, rise of e-commerce, integration of devops practices.
The application hosting market size is expected to see rapid growth in the next few years. It will grow to $155.1 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to edge computing adoption, hybrid cloud solutions, remote workforce trends, cybersecurity emphasis, industry-specific solutions. Major trends in the forecast period include cloud-native technologies adoption, edge computing integration, hybrid and multi-cloud strategies, security and compliance focus, serverless computing growth.
The growing need for physical security is expected to propel the growth of the application hosting market in the coming future. Physical security refers to the security of personnel, hardware, programs, networks, and data from physical situations and events that can support severe losses or harm to an enterprise, agency, or organization. Application security controls are methods for enhancing an application’s coding-level security, making it less susceptible to hackers. For instance, in January 2021, IT Governance identified 1,243 security events that resulted in 5,126,930,507 records being compromised. In comparison to 2020 (1,120), that implies an 11% rise in security incidents. The number of compromised records dropped significantly over the same period, from 20.1 billion to 19.1 billion. Therefore, the growing need for physical security is driving the application hosting market.
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The application hosting market covered in this report is segmented –
1) By Type: Managed Hosting, Cloud Hosting, Colocation Hosting
2) By Service: Application Monitoring, Application Programming Interface Management, Infrastructure Services, Database Administration, Backup And Recovery, Application Security
3) By Organizational Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprise
Product innovations are the key trends gaining popularity in the application hosting market. Major companies operating in the application hosting market are focused on developing innovative products to strengthen their position in the market. For instance, in November 2022, Kinsta US-based provider of Applications Hosting, Database Hosting Introduces Application Hosting, and Database Hosting. This is reliable and one-stop-shop Platform-as-a-Service (PaaS) that offers a per-usage billing system that charges based runtime and size of database.
The application hosting market report table of contents includes:
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