Application modernization is the process of rewriting a legacy software program to align it more closely to the current business needs. The advancements in technology and the shifting of business to new business models is one of the primary factors that is positively influencing the application modernization market. The existence of a large number of the legacy application is anticipated to create lucrative business opportunities for the companies operating in the application modernization service market to gain a strong customer base and generate more revenues.
Increasing demand for business agility and faster time to market, growing adoption of cloud-based technologies and increasing focus of companies towards improving their IT infrastructure are the major factors that are expected to drive the growth of application modernization market. However, time restraint, large investments, and increasing shortage of workforce for legacy application is the major factor that might slow down the growth of application modernization service market.
The "Global Application Modernization Service Market Analysis to 2027" is a specialized and in-depth study of the application modernization service industry with a special focus on the global market trend analysis. The report aims to provide an overview of application modernization service market with detailed market segmentation by service, organization-size, industry vertical and geography. The global application modernization service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading application modernization service market players and offers key trends and opportunities in the application modernization service market.
The global application modernization service market is segmented on the basis of service, organization-size, and industry vertical. Based on service, the market is segmented as application portfolio assessment, cloud application migration, application replatforming, application integration, UI modernization, and post-modernization. On the basis of organization-size the market is segmented as SMEs and large enterprise. Based on industry vertical the market is segmented as BFSI, retail, IT & Telecom, manufacturing, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global application modernization service market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The application modernization service market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting application modernization service market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the application modernization service market in these regions.
The reports cover key developments in the application modernization service market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from application modernization service market are anticipated to lucrative growth opportunities in the future with the rising demand for application modernization service in the global market. Below mentioned is the list of few companies engaged in the application modernization service market.
The report also includes the profiles of key application modernization service companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Accenture PLC
- Aspire Systems
- BLU AGE
- Dell, Inc.
- HCL Technologies Limited
- IBM Corporation
- Micro Focus
- Microsoft Corporation
- Oracle Corporation
- Tech Mahindra Limited
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.