Europe application modernization tools market in is expected to grow from US$ 1.87 Bn in 2018 to US$ 9.91 Bn by the year 2027. This represents a CAGR of 20.6% from the year 2018 to 2027.
The application modernization services offer application code conversion, enhance the user experience, integration & automation, and others. Enterprises across the globe are engaged in application modernization initiatives to stay ahead in the competitive market. The application modernization is driven by digital transformation initiative across the industries. With the implementation of stringent regulatory compliances, enterprises must upgrade its application and legacy based on the compliances & standards. Regulations such as GDPR and PCI DSS are playing a vital role in the application modernization market. Enterprises are modernizing its legacy to make competitive differentiation.
Healthcare and BFSI sector is profoundly impacted by the standards and regulations set by the various government bodies. Enterprises must upgrade its business rules as per the regulations. These regulations are making it mandatory for enterprises to modernize their applications. The stringent regulatory compliances are significantly driving the application modernization tools market during the forecast period.
Currently, Germany is dominating the application modernization tools market in terms of adoption, which in turn boost the demand for application modernization tools market. Germany is a highly industrialized country, and its economically leading industries include chemicals, automotive, electronics, and food & beverages. Through its economic and innovation policies, the country focuses on the digital economy; digital infrastructure; innovative public administration; digital workplaces; digital environments in society, science, research, education, security, protection, culture, and media; and European and international dimension of the Digital Agenda. Also, Germany is a significant FinTech market in Europe and the fourth-largest in the world. On the back of such developed ICT and FinTech sector, the demand for application modernization tools is anticipated to flourish during the forecast period. The figure given below highlights the revenue share of Rest of Europe in the Europe application modernization tools market in the forecast period:
Rest of Europe in Europe Application Modernization Tools Market Revenue and Forecasts to 2027 (US$ Mn)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
EUROPE APPLICATION MODERNIZATION TOOLS MARKET - SEGMENTATION
Europe Application Modernization Tools Market by Product Type
- COBOL
- ADA
- RPG
- Assembler
- PowerBuilder
- Others
Europe Application Modernization Tools Market by Application
- Emulation
- Translation
- Business Rules Extraction
Europe Application Modernization Tools Market by Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
Europe Application Modernization Tools Companies Mentioned
- Advanced Computer Software Group Limited
- Aspire Systems
- Asysco
- Atos SE
- Blu Age
- Deloitte Touche Tohmatsu Limited
- FreeSoft
- Micro Focus
- Mphasis
- Software Mining
Europe Application Modernization Tools Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1.87 Billion |
| Market Size by 2027 | US$ 9.91 Billion |
| Global CAGR (2018 - 2027) | 20.6% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
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The List of Companies
- Advanced Computer Software Group Limited
- Aspire Systems
- Asysco
- Atos SE
- Blu Age
- Deloitte Touche Tohmatsu Limited
- FreeSoft
- Micro Focus
- Mphasis
- Software Mining.
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