Application Modernization Services Market by Service (Application Integration, Application Portfolio Assessment, Application Re-Platforming), Deployment Mode (Hybrid Cloud, Private Cloud, Public Cloud), End Users, Vertical - Global Forecast 2024-2030
The Application Modernization Services Market size was estimated at USD 9.50 billion in 2023 and expected to reach USD 10.95 billion in 2024, at a CAGR 17.11% to reach USD 28.71 billion by 2030.
Application modernization services aim to minimize legacy app running costs, improve their features, performance, and security, and ensure that the upgraded solutions remain scalable and easy to manage in the long run. Vendors offer end-to-end app modernization services to assist businesses in driving new value from their old technologies, according to mature software modernization and risk management practices. The changing business landscape, growing digitization, and significant adoption of cloud-based services are propelling the growth of the application modernization services market. On the other hand, the dearth of skilled and experienced workforce and associated high costs may hamper the market development. Nevertheless, the ongoing technologically advanced services and rising DevOps trend among enterprises create lucrative prospects in the forecast period.
Regional InsightsThe well-established end-user industries and sustainable suppliers have increased the application modernization service market scope for better production and worker efficiency worldwide. Application modernization services are significantly emerging in the American region due to state-of-the-art IT infrastructure and competitive technical expertise. The European market also witnesses tremendous growth prospects in the region due to the presence of major players and ongoing technological advancements. On the other hand, the emerging digitization developments in the Asia-pacific region encourage small and large-scale enterprises to adopt application modernization services. The favorable government support to increase digital capabilities and enhance technological advances on an industrial scale has raised the development of the application modernization market.
FPNV Positioning MatrixThe FPNV Positioning Matrix is pivotal in evaluating the Application Modernization Services Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share AnalysisThe Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Application Modernization Services Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company ProfilesThe report delves into recent significant developments in the Application Modernization Services Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Adobe Inc., Alibaba Cloud by Alibaba Group, Amazon Web Services, Inc., AppScale Systems, Inc., Aspire Systems, Atos SE, Bell Integrator, Blu Age, Capgemini SE, Cisco Systems, Inc., Cognizant, Cuelogic by Larsen & Toubro Infotech, Dell Inc., dinCloud by ATSG Company, DXC Technology, Ekco Group, EvolveWare Inc., Fujitsu Ltd., Genesys, Google LLC by Alphabet, Inc., HCL Technologies Ltd., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Infosys Ltd., International Business Machines Corporation, Lansa Inc., Megaport.com, Microfocus by Open Text Corporation, Microsoft Corporation, Modern Systems by ModSys International Ltd., NetApp, NTT DATA Corporation, Oodles Technologies, Oracle Corporation, ORock Technologies, OVH SAS, Rackspace Technology, Salesforce, Inc., SAP SE, Semantic Designs, Incorporated, ServiceNow, Softura, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Tudip Technologies Pvt. Ltd., Verizon, VMware, Inc. by Broadcom, Inc., Wipro Ltd., and Xencia Techologies.
Market Segmentation & CoverageThis research report categorizes the Application Modernization Services Market to forecast the revenues and analyze trends in each of the following sub-markets:
Service
Application Integration
Application Portfolio Assessment
Application Re-Platforming
Cloud Application Migration
Post Modernization
UI Modernization
Deployment Mode
Hybrid Cloud
Private Cloud
Public Cloud
End Users
Large Enterprises
SMEs
Vertical
BFSI
Energy & Utilities
Government & Public Sector
Healthcare & Life Sciences
IT & ITeS
Manufacturing
Retail & Consumer Goods
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Application Modernization Services Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Application Modernization Services Market?
- What are the technology trends and regulatory frameworks in the Application Modernization Services Market?
- What is the market share of the leading vendors in the Application Modernization Services Market?
- Which modes and strategic moves are suitable for entering the Application Modernization Services Market?
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