Global Application Modernization Services Market Size Study, by Type (Application Portfolio Assessment, Cloud Application Migration, Re-platforming, Application Integration, UI Modernization, Post-Modernization), by Deployment (Public Cloud, Private Cloud

Global Application Modernization Services Market Size Study, by Type (Application Portfolio Assessment, Cloud Application Migration, Re-platforming, Application Integration, UI Modernization, Post-Modernization), by Deployment (Public Cloud, Private Cloud, Hybrid Cloud, Multi-cloud), by Organization Size (Large Enterprises, SMEs), by Application (BFSI, Healthcare, Telecommunication, Retail & Consumer Goods, Automotive, IT & ITeS, Manufacturing, Government & Public Sector, Oil and Energy, Others) and Regional Forecasts 2022-2032


Global Application Modernization Services Market was valued at approximately USD 21.78 billion in 2023 and is anticipated to grow with a compound annual growth rate (CAGR) exceeding 10.02% over the forecast period from 2024 to 2032. Application Modernization Services are integral to upgrading and transforming legacy software systems to meet contemporary business requirements while leveraging modern technological advancements. These services include refactoring, re-platforming, re-hosting, and integrating new features to enhance the overall performance, security, and scalability of applications. By modernizing their applications, businesses can significantly reduce operational costs, improve user experience, and ensure seamless compatibility with the latest digital ecosystems. This modernization is critical for companies striving to maintain competitiveness, agility, and responsiveness in an increasingly fast-paced technological environment.
The Global Application Modernization Services Market expansion is driven by rising need for cost savings, increased demand for reducing code complexity, the necessity to accelerate time-to-market, rapid technological advancements, and the imperative to comply with regulatory requirements. Businesses are increasingly seeking cost savings, leading to a higher demand for services that can streamline and optimize legacy applications. The need to reduce code complexity is also driving the market, as simpler code structures lead to easier maintenance and scalability. Companies are under pressure to accelerate time-to-market for their products and services, pushing for modernization to stay competitive. Additionally, rapid technological advancements are prompting organizations to update their applications, while regulatory compliance requirements are further encouraging modernization efforts to ensure systems meet current legal standards. However, challenges such as a lack of proper knowledge and costly maintenance may hinder market growth during the forecast period.
The key regions considered for the market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America is expected to dominate the application modernization services market attributed to the growing adoption of cloud-based platforms driven by increased digitalization and robust technological advancements. Furthermore, increasing government investments in AI and IoT-based services are contributing to the market's growth by enhancing application performance. The presence of major competitors and their significant revenue generation accounts for the largest market share in this region.
Major market players included in this report are:
Tech Mahindra Ltd
Accenture
IBM Corporation
TATA Consultancy Services Limited
Microsoft Corporation
Infosys Limited
Nutanix
Oracle Corporation
Deloitte
Dell Inc
Wipro
Atos SE
Cognizant
Capgemini
HCL Technologies Ltd
The detailed segments and sub-segment of the market are explained below:
By Type:
• Application Portfolio Assessment
• Cloud Application Migration
• Re-platforming
• Application Integration
• UI Modernization
• Post-Modernization
By Deployment:
• Public Cloud
• Private Cloud
• Hybrid Cloud
• Multi-cloud
By Organization Size:
• Large Enterprises
• SMEs
By Application:
• BFSI
• Healthcare
• Telecommunication
• Retail & Consumer Goods
• Automotive
• IT & ITeS
• Manufacturing
• Government & Public Sector
• Oil and Energy
• Others
By Region:
North America:
• U.S.
• Canada
Europe:
• UK
• Germany
• France
• Spain
• Italy
• ROE
Asia Pacific:
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
Latin America:
• Brazil
• Mexico
• RoLA
Middle East & Africa:
• Saudi Arabia
• South Africa
• RoMEA
Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market

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Chapter 1. Global Application Modernization Services Market Executive Summary
1.1. Global Application Modernization Services Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Deployment
1.3.3. By Organization Size
1.3.4. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Application Modernization Services Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Application Modernization Services Market Dynamics
3.1. Market Drivers
3.1.1. Rising Need to Save Cost
3.1.2. Increasing Demand for Reducing Code Complexity
3.1.3. Increasing Speed to Market
3.1.4. Rapid Technology Development
3.1.5. Regulatory Compliance
3.2. Market Challenges
3.2.1. Lack of Proper Knowledge
3.2.2. Costly Maintenance
3.3. Market Opportunities
3.3.1. Growing Adoption of Cloud Platforms
3.3.2. Expansion of AI and IoT-based Services
Chapter 4. Global Application Modernization Services Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Application Modernization Services Market Size & Forecasts by Type 2022-2032
5.1. Segment Dashboard
5.2. Global Application Modernization Services Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. Application Portfolio Assessment
5.2.2. Cloud Application Migration
5.2.3. Re-platforming
5.2.4. Application Integration
5.2.5. UI Modernization
5.2.6. Post-Modernization
Chapter 6. Global Application Modernization Services Market Size & Forecasts by Deployment 2022-2032
6.1. Segment Dashboard
6.2. Global Application Modernization Services Market: Deployment Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. Public Cloud
6.2.2. Private Cloud
6.2.3. Hybrid Cloud
6.2.4. Multi-cloud
Chapter 7. Global Application Modernization Services Market Size & Forecasts by Organization Size 2022-2032
7.1. Segment Dashboard
7.2. Global Application Modernization Services Market: Organization Size Revenue Trend Analysis, 2022 & 2032 (USD Billion)
7.2.1. Large Enterprises
7.2.2. SMEs
Chapter 8. Global Application Modernization Services Market Size & Forecasts by Application 2022-2032
8.1. Segment Dashboard
8.2. Global Application Modernization Services Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
8.2.1. BFSI
8.2.2. Healthcare
8.2.3. Telecommunication
8.2.4. Retail & Consumer Goods
8.2.5. Automotive
8.2.6. IT & ITeS
8.2.7. Manufacturing
8.2.8. Government & Public Sector
8.2.9. Oil and Energy
8.2.10. Others
Chapter 9. Global Application Modernization Services Market Size & Forecasts by Region 2022-2032
9.1. North America Application Modernization Services Market
9.1.1. U.S. Application Modernization Services Market
9.1.1.1. Type breakdown size & forecasts, 2022-2032
9.1.1.2. Deployment breakdown size & forecasts, 2022-2032
9.1.1.3. Organization Size breakdown size & forecasts, 2022-2032
9.1.1.4. Application breakdown size & forecasts, 2022-2032
9.1.2. Canada Application Modernization Services Market
9.2. Europe Application Modernization Services Market
9.2.1. UK Application Modernization Services Market
9.2.2. Germany Application Modernization Services Market
9.2.3. France Application Modernization Services Market
9.2.4. Spain Application Modernization Services Market
9.2.5. Italy Application Modernization Services Market
9.2.6. Rest of Europe Application Modernization Services Market
9.3. Asia-Pacific Application Modernization Services Market
9.3.1. China Application Modernization Services Market
9.3.2. India Application Modernization Services Market
9.3.3. Japan Application Modernization Services Market
9.3.4. Australia Application Modernization Services Market
9.3.5. South Korea Application Modernization Services Market
9.3.6. Rest of Asia Pacific Application Modernization Services Market
9.4. Latin America Application Modernization Services Market
9.4.1. Brazil Application Modernization Services Market
9.4.2. Mexico Application Modernization Services Market
9.4.3. Rest of Latin America Application Modernization Services Market
9.5. Middle East & Africa Application Modernization Services Market
9.5.1. Saudi Arabia Application Modernization Services Market
9.5.2. South Africa Application Modernization Services Market
9.5.3. Rest of Middle East & Africa Application Modernization Services Market
Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Tech Mahindra Ltd
10.3.1.1. Key Information
10.3.1.2. Overview
10.3.1.3. Financial (Subject to Data Availability)
10.3.1.4. Product Summary
10.3.1.5. Market Strategies
10.3.2. Accenture
10.3.3. IBM Corporation
10.3.4. TATA Consultancy Services Limited
10.3.5. Microsoft Corporation
10.3.6. Infosys Limited
10.3.7. Nutanix
10.3.8. Oracle Corporation
10.3.9. Deloitte
10.3.10. Dell Inc
10.3.11. Wipro
10.3.12. Atos SE
10.3.13. Cognizant
10.3.14. Capgemini
10.3.15. HCL Technologies Ltd
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
List of Tables
TABLE 1. Global Application Modernization Services market, report scope
TABLE 2. Global Application Modernization Services market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Application Modernization Services market estimates & forecasts by Type 2022-2032 (USD Billion)
TABLE 4. Global Application Modernization Services market estimates & forecasts by Deployment 2022-2032 (USD Billion)
TABLE 5. Global Application Modernization Services market estimates & forecasts by Organization Size 2022-2032 (USD Billion)
TABLE 6. Global Application Modernization Services market estimates & forecasts by Application 2022-2032 (USD Billion)
TABLE 7. Global Application Modernization Services market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Global Application Modernization Services market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Application Modernization Services market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Application Modernization Services market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Application Modernization Services market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Application Modernization Services market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Application Modernization Services market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global Application Modernization Services market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Application Modernization Services market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. Application Modernization Services market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. Application Modernization Services market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada Application Modernization Services market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada Application Modernization Services market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada Application Modernization Services market estimates & forecasts by segment 2022-2032 (USD Billion)
This list is not complete, final report does contain more than 100 tables. The list may be updated in the final deliverable
List of Figures
FIGURE 1. Global Application Modernization Services market, research methodology
FIGURE 2. Global Application Modernization Services market, market estimation techniques
FIGURE 3. Global market size estimates & forecast methods.
FIGURE 4. Global Application Modernization Services market, key trends 2023
FIGURE 5. Global Application Modernization Services market, growth prospects 2022-2032
FIGURE 6. Global Application Modernization Services market, porters 5 force model
FIGURE 7. Global Application Modernization Services market, PESTEL analysis
FIGURE 8. Global Application Modernization Services market, value chain analysis
FIGURE 9. Global Application Modernization Services market by segment, 2022 & 2032 (USD Billion)
FIGURE 10. Global Application Modernization Services market by segment, 2022 & 2032 (USD Billion)
FIGURE 11. Global Application Modernization Services market by segment, 2022 & 2032 (USD Billion)
FIGURE 12. Global Application Modernization Services market by segment, 2022 & 2032 (USD Billion)
FIGURE 13. Global Application Modernization Services market by segment, 2022 & 2032 (USD Billion)
FIGURE 14. Global Application Modernization Services market, regional snapshot 2022 & 2032
FIGURE 15. North America Application Modernization Services market 2022 & 2032 (USD Billion)
FIGURE 16. Europe Application Modernization Services market 2022 & 2032 (USD Billion)
FIGURE 17. Asia Pacific Application Modernization Services market 2022 & 2032 (USD Billion)
FIGURE 18. Latin America Application Modernization Services market 2022 & 2032 (USD Billion)
FIGURE 19. Middle East & Africa Application Modernization Services market 2022 & 2032 (USD Billion)
FIGURE 20. Global Application Modernization Services market, company market share analysis (2023)
This list is not complete, final report does contain more than 50 figures. The list may be updated in the final deliverable

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