Application Platform Market may reach to $11.69 Billion by 2023

Posted on 2021-10-25 by MarketsandMarkets in Technology, Telecommunications // 0 Comments

Application Platform Market

Oracle and IBM are the Leading Players in the Application Platform Market

The Application Platform Market is gaining traction, due to the demand for collaborative application development and the emergence of the low-code application platform. MarketsandMarkets forecasts the global application platform market size to grow from USD 8.99 Billion in 2018 to USD 11.69 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period.

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The major players in the application platform market include IBM (US), Oracle (US), SAP (Germany), NEC (Japan), Microsoft (US), Micro Focus (UK), Fujitsu (Japan), Hitachi (Japan), Adobe (US), HPE (US), Huawei (China), and Red Hat (US). The other players include Akamai (US), GigaSpaces (US), Caucho (US), Apache Tomcat, TmaxSoft (US), Nastel Technologies (US), Navisite (US), Rogue Wave Software (US), 4D Technologies (France), NGINX (US), Mendix (US), Kony (US), and Betty Blocks (Netherlands).

Oracle is one of the leading players in the Application Platform Market. The company has adopted both organic and inorganic growth strategies to enhance its presence in the application platform market. For instance, Oracle partnered with NTT DOCOMO, one of the leading telephone operators of Japan. As per this partnership, Oracle would deploy Oracle WebLogic Server as an application platform. Furthermore, in line with the product strategy, Oracle launched the WebLogic Server 12.2.1 in 2015. The new version features multitenancy, continuous availability, developer productivity, and portability of the cloud.

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IBM an established vendor in the Application Platform Market has a strong presence in the Americas, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. In 2017, IBM launched the next-generation Power System servers. This new server includes a newly designed POWER9 processor. POWER9 system servers are specially built for intensive Artificial Intelligence (AI) workloads in computing.

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Oracle and IBM are the Leading Players in the Application Platform Market

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