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The Global Application Platform Market size is expected to reach $12.7 billion by 2024, rising at a market growth of 5.9% CAGR during the forecast period. This market would witness significant growth due to vendors and open-source communities offering user-friendly, reliable, innovative, and specialized platforms to support the modern and real-time application requirements. Application platforms would simplify the deployment of application codes, leading to automation of application release processes, and proactive monitoring of applications and associated infrastructure performances.
Additionally, these platforms also help in rapid development and deployment of application logic, enabling faster application iteration, providing unified experience to developers. Paid, as well as free open-source software is available to address customer needs. Hence, both paid and open-source software are vital to the growth of the market Based on Type, the market is segmented into Software and Services. Software Type includes Application Platform Software and Transaction Processing Monitor Software. Services Type includes Professional and Managed Services. Based on Organization Size, the market is segmented into Small & Medium Enterprises and Large Enterprises.
Based on Deployment Type, the market is segmented into Application Platform-As-A-Service and On-Premise. The report also covers geographical segmentation of Application Platform market. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the analysis of key stake holders of the Global Application Platform Market. Key companies profiled in the report include IBM Corporation, SAP SE, NEC Corporation, Oracle Corporation, Microsoft Corporation, Micro Focus, Fujitsu Limited, Hitachi, LTD., Huawei Technologies Co., Ltd. and Akamai Technologies, Inc.