Latest News:- Application Platform Market: On-premises is expected to lead the Deployment segment during 2024-2028

Application Platform Market to grow at a CAGR of 6.34% during 2024-2028

The Application Platform Market is expected to grow at a CAGR of 6.34% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5.67 billion. Low-code application platforms provide businesses with an efficient solution for rapid application development. By offering visual interfaces, drag-and-drop components, and pre-built templates, these platforms enable developers to create applications with minimal coding. This significantly reduces development time and expedites the time-to-market for new products and features. In today's competitive business landscape, the ability to respond swiftly to market demands and customer needs is crucial. Low-code platforms enable the development of web-based and mobile-based applications using a graphical user interface (GUI) and system configuration, thereby reducing the time taken to develop an application through manual coding. 

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The On-premises subsegment is expected to dominate the Deployment segment during the forecast period 

Technavio analysts predict that the On-premises subsegment will lead the Deployment segment during 2024 and 2028 In the realm of Application Platform markets, the preference for on-premises deployment models over Application Platform as a Service (aPaaS) models stems primarily from enhanced security benefits. With on-premises, data is housed on dedicated servers, providing businesses with greater control and security compared to the aPaaS model, where data is dispersed across multiple servers. This centralized storage and access through dedicated client servers offer improved security measures, including physical access controls and stringent security protocols. Consequently, large enterprises dealing with sensitive business information opt for on-premises application platforms, mitigating potential risks associated with cloud-based deployment models and their increased vulnerability to security breaches.

Here are the various ways based on which the market is segmented: 

• Deployment
  • On-premises
  • aPaaS
• End-user
  • Large enterprises
  • SMEs
• Geography
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

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There are several factors that are causing the market to flourish growing popularity of cloud-based services

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Application Platform Market is a significant segment of the Information Technology industry, providing developers with software and hardware infrastructure to build, deploy, and manage applications. The market offers various solutions, from traditional on-premises platforms to cloud-based application platforms. Infrastructure performances, such as execution services, data services, and database management, are crucial for application codes' optimal functioning. Managed services, including support and maintenance, ensure applications run smoothly, enabling developers to focus on the application release processes. Application Platform Software, including CICS, operating systems, and development tools, is essential for creating applications. Cloud Computing solutions, like cloud-based services and cloud-based application platforms, offer flexibility, scalability, and cost savings. Statistics from the market engineering process indicate a growing trend towards cloud-based services and diverse hardware support. Data triangulation from various sources reveals that DevOps practices, such as continuous integration and continuous delivery, are increasingly adopted to streamline application release processes. The Application Platform Market caters to diverse hardware and software requirements, including desktop PCs, database management systems, operating systems, and diverse application codes. Overall, the market offers a range of solutions to meet the evolving needs of businesses and developers in the Information Technology sector.

Market Research Overview

The Application Platform Market is a segment of the expansive Global IT Software Market, according to Technavio's market classification. The IT Software Market encompasses organizations specializing in the development and production of application and systems software, as well as database management software. The Global Systems Software Market, a sub-segment of IT Software, focuses on businesses providing application development and management software, cloud computing software, data center solutions, hosting software, IT management software, mobility software, networking software, security software, and storage software. This market size is determined by the consolidated revenue generated by companies offering all types of systems software, including cloud-based solutions.

The Application Platform Market is experiencing significant growth, fueled by the growing popularity of cloud-based services. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
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