Global Application Modernization and Migration Service Market Growth (Status and Outlook) 2023-2029

Global Application Modernization and Migration Service Market Growth (Status and Outlook) 2023-2029

Application modernization is the refactoring, re-purposing or consolidation of legacy software programming to align it more closely with current business needs.



The goal of an application modernization project is to create new business value from existing applications. An application is a program designed to perform a specific function directly for the user or, in some cases, for another application program. Keeping legacy applications running smoothly can be a time-consuming, resource-intensive process, especially when the software becomes so outdated that it becomes incompatible with newer versions of the underlying operating system (OS) or system hardware.

LPI (LP Information)' newest research report, the “Application Modernization and Migration Service Industry Forecast” looks at past sales and reviews total world Application Modernization and Migration Service sales in 2022, providing a comprehensive analysis by region and market sector of projected Application Modernization and Migration Service sales for 2023 through 2029. With Application Modernization and Migration Service sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Application Modernization and Migration Service industry.

This Insight Report provides a comprehensive analysis of the global Application Modernization and Migration Service landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Application Modernization and Migration Service portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Application Modernization and Migration Service market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Application Modernization and Migration Service and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Application Modernization and Migration Service.

The global Application Modernization and Migration Service market size is projected to grow from US$ 18230 million in 2022 to US$ 28790 million in 2029; it is expected to grow at a CAGR of 6.7% from 2023 to 2029.

Global Application Modernization Services key players include IBM, Atos, Cognizant, Accenture, etc. Global top four manufacturers hold a share over 55%.

United States is the largest market, with a share about 35%, followed by Europe and China, both have a share about 35 percent.

In terms of product, Cobol is the largest segment, with a share over 60%. And in terms of application, the largest application is Emulation, followed by Translation, Business rules extraction, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Application Modernization and Migration Service market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Application Portfolio Assessment
Cloud Application Migration
Application Replatforming

Segmentation by application
BFSI
Government
Healthcare
IT and Telecommunication
Manufacturing
Retail
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Accenture
Atos
Bell Integrator
Capgemini
Cognizant
Fujitsu
HCL
IBM
Macrosoft
Tech Mahindra
TCS
Wipro
Infosys
DXC
Blu Age
TSRI
Modern Systems
Trinity Millennium
Micro Focus
Software Mining
Semantic Designs
Evolveware
Mapador
Fresche Solutions
Asysco
Expersolve
Metaware (Inetum)
MOST Technologies
Freesoft
Language Portability Solutions

Please note: The report will take approximately 2 business days to prepare and deliver.