Application Modernization Services Market Outlook 2027 By Services, Size, Share, Trends, Applications
According to TechSci Research, Global application modernization services market is expected to grow at a high rate during the forecast period due to increasing usage of cloud computing technologies. Application modernization is a service, designed to manage legacy transformation in new applications. The legacy transformation occurs to integrate to newer features and functionalities to the existing business. The application modernization takes place in terms of re-platforming in terms of cloud, re-hosting, re-engineering and to make sure that the application architecture is suited well for the business. The factors driving the global application modernization services market include increasing need of faster recognition, delivery of services in business, benefit of big data analytics and various technologies, and the growing adoption of cloud computing in the industrial and enterprise applications. There are some factors which might restrain the growth of application modernization services which include heavy monetary investments by enterprises and lack of skilled resources.
Global application modernization services market is segmented based on services, organization size, end-user, and region. Based on organization size, large enterprises segment is expected to hold the dominant market share in the forecast period due to the need for reducing the high capital expenditure and operational expenditure. Based on end-user, manufacturing segment is expected to dominate the market share in the forecast period. The need of improving the operational process, reducing the cost, rolling out products in a quick time frame, and further eliminating the location barriers are the factors which are responsible for the growth of this segment.
Regionally, Asia Pacific is expected to dominate the market in the forecast period. Growing adoption of big data analytics and technological advancements in the region are the factors for the growth of application modernization services market.
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Major players operating in the global application modernization services market include Wipro Ltd., Accenture Plc., Cognizant Corporation, Hewlett Packard Enterpise (HPE) Company, Fujitsu Limited, IBM Corporation, Oracle Corporation, Microsoft Inc., Micro Focus International Plc., NTT Data corporation.
- To analyze and estimate the market size of global application modernization services market from 2017 to 2020.
- To estimate and forecast the market size of global application modernization services market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global application modernization services market based on services, organization size, cloud deployment mode, end-user, company and regional distribution.
- To identify dominant region or segment in the global application modernization services market.
- To identify drivers and challenges for global application modernization services market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global application modernization services market.
- To identify and analyze the profile of leading players operating in global application modernization services market.
- To identify key sustainable strategies adopted by market players in global application modernization services market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, vendors and presence of all major players across the globe.
TechSci Research calculated the market size of global application modernization services Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Application modernization services providers, IT & telecom related companies and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to application modernization services
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute | Details | |
Base Year | 2021 | |
Historical Data | 2017 – 2020 | |
Estimated Year | 2022 | |
Forecast Period | 2023 – 2027 | |
Quantitative Units | Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F |
|
Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
|
Segments covered | · Service · Organization Size · Cloud Deployment · End User | |
Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa | |
Country scope | United States, Mexico, Canada, China, India, Japan, South Korea; Singapore, Germany, France, United Kingdom, Spain, Italy, South Africa, UAE, Saudi Arabia, Brazil, Argentina, Colombia | |
Key companies profiled | Wipro Ltd., Accenture Plc., Cognizant Corporation, Hewlett Packard Enterpise (HPE) Company, Fujitsu Limited, IBM Corporation, Oracle Corporation, Microsoft Inc., Micro Focus International Plc., NTT Data corporation. | |
Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. | |
Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options | |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) | |
Report Scope:
In this report, global application modernization services market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Application Modernization Services Market, By Services:
- Integration Solution
- Re-platforming
- Portfolio Assessment
- Cloud Application Migration
- Modernization
- Others
- Global Application Modernization Services Market, By Organization Size:
- Small and Medium Enterprises
- Large Enterprises
- Global Application Modernization Services Market, By Cloud Deployment Mode:
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Global Application Modernization Services Market, By End-User:
- BFSI
- Telecom & IT
- Government
- Healthcare
- Manufacturing
- Retail & Consumer Goods
- Others
- Global Application Modernization Services Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global application modernization services market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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