Application Modernization Tools Market to Reach US$ 36.86 Bn at a CAGR of 18.7% in 2027

Application Modernization Tools Market to 2027 - Global Analysis and Forecasts by Product Type (COBOL, ADA, RPG, Assembler, PowerBuilder, and Others); Application (Emulation, Translation, and Business Rules Extraction)

Publication Month : Sep 2019

  • Report Code : TIPRE00006650
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 173
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The global application modernization tools market accounted at US$ 8.04 Bn in 2018 and is expected to grow at a CAGR of 18.7% during the forecast period 2019 – 2027, to account to US$ 36.86 Bn by 2027.

North America is expected to hold the largest application modernization tools market share by 2027. The governments are maximizing their digital investments by strategically leveraging new technologies, as well as data and advanced analytics, for optimizing policies and programs, and updating their legacy systems. Improving and aligning processes; attracting new investors; bringing smart, data-driven approach in government operations; providing better access to and improving management of information; enhancing citizen satisfaction and trust; transforming government transaction services; and meeting the needs of rapidly changing demographics and balancing cost while optimizing efficiency are all playing major role in the ongoing IT transformation across the government, public, and private sectors.

Lucrative Regional Application Modernization Tools Markets

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Market Insights

Increasing digital transformation across the industries is propelling the demand for application modernization tools market

End-to-end business process optimization, increased operational efficiency, improved customer experience, and reduced costs are few of the factors driving the application modernization tools market. The paradigm shift of enterprises from traditional channels to digital and automated channels results in multiple benefits ranging from improved efficiency to reduced cost and increased revenue opportunities, thus bolstering the growth of application modernization tools market

The high degree of integration with other solutions offer a lucrative opportunity to the application modernization tools market

The players in application modernization tools market are integrating various solutions with the applications and front ended on tablets, mobile, and web. It is a cost-effective and quick way to provide new business processes across any applications. Services providers integrate solutions such as robotic process automation (RPA) which is an as-a-service automation platform. It enables to replicate the interaction of technology and human to automate a wide range of operations and support processes cost-effectively and increases the reliability.

Product Type Insights

The global application modernization tools market by product type was led by COBOL segment. The application modernization process is quite challenging with the traditional methods, but with the adoption of agile technologies, it became easy and more accurate. COBOL is a high-level programming language that generates fully web-based applications and reengineers project within the timeframe, along with executing standards and following specifications for a better look and feel, with the modernization in .NET and Java applications. Various platforms available in the market transform the existing codes into advanced languages.

Application Insights

The global application modernization tools market by application was led by emulation segment in 2018. Also, the segment is expected to hold the largest application modernization tools market share by 2027. Emulation is a process to rehost/re-platform the modernization approach used to provide an environment that compiles on distributed platforms by emulating the legacy operating environment. The emulation capability reduces the amount, and the changes occurred at the time when the legacy system migrates to a distributed platform. The emulation process offers the fastest technique to migrate workloads off a mainframe and a comparatively low-cost, low-risk way to decrease the operating costs as well as uphold the business value. These factors expected to upsurge the demand for emulation applications in application modernization tools market.

 Rest of APAC Application Modernization Tools Market by Application

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Application Modernization Tools Market: Strategic Insights

Market Size Value inUS$ 8.04 Billion in 2018
Market Size Value byUS$ 36.86 Billion by 2027
Growth rateCAGR of 18.7% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The market players present in application modernization tool market are mainly focusing on product enhancements by implementing advance technologies. Few of the recent developments are listed below:

2019:Atos announced the enhancement of Atos Managed OpenShift (AMOS) platform, with the help of new integrated automation features from the SyntBots automation platform. This up-gradation is a result of the collaboration between Atos and Red Hat.
2018:Micro Focus announced the general availability of Visual Enterprise Suite 4.0 and COBOL 4.0, marking a key step in implementing its digital transformation vision to facilitate customers to update core business processes as well as technology.
2017:Blu Age announced its partnership with Advanced, for offering its game-changing solution - COBOL Migration and data modernization to Advanced. With this partnership, the company delivers its automated solution for transforming its legacy COBOL applications to Java and .NET.


By Product Type

  • ADA
  • RPG
  • Assembler
  • PowerBuilder
  • Others

By Application

  • Emulation
  • Translation
  • Business Rules Extraction

By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • UK
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)

    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • Advanced Computer Software Group Limited
  • Aspire Systems (India) Pvt. Ltd
  • Asysco Software BV
  • Atos SE
  • Blu Age
  • Deloitte Touche Tohmatsu Limited
  • FreeSoft, Inc.
  • Language Portability Solutions
  • Micro Focus International plc
  • Mphasis Limited
  • Semantic Designs, Incorporated
  • SoftwareMining Technologies
  • The Software Revolution Inc. (TSRI)
  • Virtusa Corporation

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type ; Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Advanced Computer Software Group Limited
  2. Aspire Systems (India) Pvt. Ltd
  3. Asysco Software BV
  4. Atos SE
  5. Blu Age
  6. Deloitte Touche Tohmatsu Limited
  7. FreeSoft, Inc.
  8. Language Portability Solutions
  9. Micro Focus International plc
  10. Mphasis Limited
  11. Semantic Designs, Incorporated
  12. SoftwareMining Technologies
  13. The Software Revolution Inc. (TSRI)
  14. Virtusa Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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