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This “Application Platform Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” Report has been added to ResearchAndMarkets.com provide.
The application platform market is valued at 9.18 billion U.S. dollars in 2019 and is expected to reach 12.45 billion U.S. dollars by 2026, with a compound annual growth rate of 7.5% during the forecast period from 2020 to 2025.
In the current demand for advanced technology, every modern application depends on a set of software products, such as operating systems, database management and cloud solutions, to achieve optimal operation. The whole set of software includes an application platform. The COVID-19 pandemic has a positive impact on the industry as it drives its growth rate to meet the sudden boom in application development.
Traditionally, application platforms provide limited services, platforms such as IBM mainframes provide CICS, and desktop computers only provide basic operating systems. Today, the software and hardware environments have been significantly expanded, and developers often have many choices. Similarly, the application platform is now also very extensive, supporting various applications. They also provide a consistent experience by enabling the same tools and skills to create different applications on different hardware.
Application platforms play a vital role in modern computing environments. These platforms use other applications and data to provide all the value that information technology brings, and almost all other applications depend on the application platform. Since most organizations today rely on applications, there is a clear connection between business value and application platforms. This example vowed to become one of the main drivers of market growth.
In addition, cloud-based application platforms are becoming more and more popular in the software industry. Pure cloud platform vendors, such as Workday, Salesforce, and ServiceNow, have been reporting significant growth. These platforms allow faster deployment of applications…
The full story on Benzinga.com
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