Asia-Pacific application modernization tools market is expected to grow from US$ 1.18 Bn in 2018 to US$ 7.04 Bn by the year 2027. This represents a CAGR of 22.1% from the year 2018 to 2027.
End-to-end business process optimization, increased operational efficiency, improved customer experience, and reduced costs are a 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. In addition to this, the rising technological advancements in cloud computing and storage technology, the power of cloud-based platforms has increased multi-fold during the past few years. Digital transformation implies new business models and engagement models with customers, stakeholders, and partners.
Companies are transforming their business digitally to compete effectively in the digital era. This digital transformation has a high impact on the application modernization tools market growth and is expected to drive the market significantly during the forecast period.
Currently, China is dominating the application modernization tools market in terms of adoption, which in turn boost the demand for application modernization tools market. China is one of the largest markets in APAC and therefore hosts a large number of IT enterprises. Due to the increasing need for better productivity, flexibility, and cost competitiveness, many of the companies in this country are opting for legacy modernization tools and services to meet the growing demand for advanced technologies. According to the Ministry of Industry and Information Technology, China, the IT and software services companies are constantly witnessing the growth and demanding legacy modernization tools and services to enhance their footprint in the country further. The figure given below highlights the revenue share of Rest of Asia-Pacific in the Asia-Pacific application modernization tools market in the forecast period:
Rest of Asia-Pacific Application Modernization Tools Market Revenue and Forecasts to 2027 (US$ Mn)
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ASIA-PACIFIC APPLICATION MODERNIZATION TOOLS MARKET - SEGMENTATION
Asia-Pacific Application Modernization Tools Market by Product Type
- COBOL
- ADA
- RPG
- Assembler
- PowerBuilder
- Others
Asia-Pacific Application Modernization Tools Market by Application
- Emulation
- Translation
- Business Rules Extraction
Asia-Pacific Application Modernization Tools Market by Country
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
Asia-Pacific Application Modernization Tools Companies Mentioned
- Advanced Computer Software Group Limited
- Aspire Systems (India) Pvt. Ltd.
- Atos SE
- Deloitte Touche Tohmatsu Limited
- FreeSoft
- IBM Corporation
- Micro Focus International plc
- Mphasis Limited
- Semantic Designs
- Virtusa Corporation
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
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia-Pacific Application Modernization Tools Market Landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 PEST Analysis
4.3.1 Asia Pacific PEST Analysis
5. Asia-Pacific Application Modernization Tools Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Digital transformation across different industries to fuel the growth of application modernization market
5.2 Key Market Restraints
5.2.1 Huge investments required for implementation and up gradation
5.3 Key Market Opportunities
5.3.1 Integration with advanced technologies to create cutting edge solutions
5.4 Future Trends
5.4.1 Analytics and AI are expected to support the market growth during the forecast period
5.5 Impact Analysis of Drivers and Restraints
6. Asia-Pacific Application Modernization Tools Market –Market Analysis
6.1 Asia-Pacific Application Modernization Tools Market Overview
6.2 Asia-Pacific Application Modernization Tools Market Forecast and Analysis
7. Asia-Pacific Application Modernization Tools Market – By Product Type
7.1 Overview
7.2 Asia-Pacific Application Modernization Tools Market Breakdown, By Product Type, 2018 and 2027
7.3 COBOL
7.3.1 Overview
7.3.2 Asia-Pacific COBOL Market, Revenue and Forecast to 2027 (US$ Mn)
7.4 ADA
7.4.1 Overview
7.4.2 Asia-Pacific ADA Market, Revenue and Forecast to 2027 (US$ Mn)
7.5 RPG
7.5.1 Overview
7.5.2 Asia-Pacific RPG Market, Revenue and Forecast to 2027 (US$ Mn)
7.6 Assembler
7.6.1 Overview
7.6.2 Asia-Pacific Assembler Market, Revenue and Forecast to 2027 (US$ Mn)
7.7 PowerBuilder
7.7.1 Overview
7.7.2 PowerBuilder Market, Revenue and Forecast to 2027 (US$ Mn)
7.8 Other
7.8.1 Overview
7.8.2 Asia-Pacific Other Market, Revenue and Forecast to 2027 (US$ Mn)
8. Asia-Pacific Application Modernization Tools Market – By Application
8.1 Overview
8.2 Asia-Pacific Application Modernization Tools Market Breakdown, By Application, 2018 & 2027
8.3 Emulation
8.3.1 Overview
8.3.2 Asia-Pacific Emulation Market, Revenue and Forecast to 2027 (US$ Mn)
8.4 Translation
8.4.1 Overview
8.4.2 Asia-Pacific Translation Market, Revenue and Forecast to 2027 (US$ Mn)
8.5 Business Rules Extraction
8.5.1 Overview
8.5.2 Asia-Pacific Business Rules Extraction Market, Revenue and Forecast to 2027 (US$ Mn)
9. Asia-Pacific Application Modernization Tool Market – Country Analysis
9.1 Overview
9.1.1 APAC Application Modernization Tool Market Breakdown, By Country
9.1.1.1 China Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
9.1.1.1.1 China Application Modernization Tool Market Breakdown, By Product Type
9.1.1.1.2 China Application Modernization Tool Market Breakdown, By Application
9.1.1.2 Japan Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
9.1.1.2.1 Japan Application Modernization Tool Market Breakdown, By Product Type
9.1.1.2.2 Japan Application Modernization Tool Market Breakdown, By Application
9.1.1.3 India Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
9.1.1.3.1 India Application Modernization Tool Market Breakdown, By Product Type
9.1.1.3.2 India Application Modernization Tool Market Breakdown, By Application
9.1.1.4 South Korea Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
9.1.1.4.1 South Korea Application Modernization Tool Market Breakdown, By Product Type
9.1.1.4.2 South Korea Application Modernization Tool Market Breakdown, By Application
9.1.1.5 Australia Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
9.1.1.5.1 Australia Application Modernization Tool Market Breakdown, By Product Type
9.1.1.5.2 Australia Application Modernization Tool Market Breakdown, By Application
9.1.1.6 Rest of APAC Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
9.1.1.6.1 Rest of APAC Application Modernization Tool Market Breakdown, By Product Type
10. Asia-Pacific Application Modernization Tools Market - Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger and Acquisition
10.4 New Development
11. Asia Pacific Application Modernization Tools Market- Company Profiles
11.1 Advanced Computer Software Group Limited
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Aspire Systems (India) Pvt. Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Atos SE
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Deloitte Touche Tohmatsu Limited
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 FreeSoft, Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 IBM Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Micro Focus International plc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Mphasis Limited
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Semantic Designs, Incorporated
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Virtusa Corporation
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Asia-Pacific Application Modernization Tools Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. APAC Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 3. APAC Application Modernization Tool Market Revenue and Forecast To 2027 – By Application (US$ Mn)
Table 4. APAC Application Modernization Tool Market – By Key Countries (US$ Mn)
Table 5. China Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 6. China Application Modernization Tool Market Revenue and Forecast To 2027 – By Application (US$ Mn)
Table 7. Japan Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 8. Japan Application Modernization Tool Market Revenue and Forecast To 2027 – By Application (US$ Mn)
Table 9. India Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 10. India Application Modernization Tool Market Revenue and Forecast To 2027 – By Application (US$ Mn)
Table 11. South Korea Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 12. South Korea Application Modernization Tool Market Revenue and Forecast To 2027 – By Application (US$ Mn)
Table 13. Australia Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 14. Australia Application Modernization Tool Market Revenue and Forecast To 2027 – By Application (US$ Mn)
Table 15. Rest of APAC Application Modernization Tool Market Revenue and Forecast To 2027 – By Product Type (US$ Mn)
Table 16. Asia- Pacific Glossary of Term: Application Modernization Tools Market
LIST OF FIGURES
Figure 1. Asia-Pacific Application Modernization Tools Market Segmentation
Figure 2. Asia-Pacific Application Modernization Tools Market Segmentation – By Country
Figure 3. Asia-Pacific Application Modernization Tools Market - Competitive Scenario
Figure 4. Asia-Pacific Application Modernization Tools Market, By Product Type
Figure 5. Asia-Pacific Application Modernization Tools Market, By Application
Figure 6. Asia-Pacific Application Modernization Tools Market Overview
Figure 7. Application Modernization Tools Market Ecosystem Analysis
Figure 8. Asia Pacific – PEST Analysis
Figure 9. Asia-Pacific Application Modernization Tools Market Impact Analysis of Drivers and Restraints
Figure 10. Asia-Pacific Application Modernization Tools Market Forecast and Analysis, (US$ Mn)
Figure 11. Application Modernization Tools Market Breakdown, by Product Type, 2018 and 2027 (%)
Figure 12. Asia Pacific COBOL Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 13. Asia Pacific ADA Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 14. Asia Pacific RPG Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 15. Asia Pacific Assembler Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 16. Asia Pacific PowerBuilder Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 17. Asia Pacific Other Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 18. Asia-Pacific Application Modernization Tools Market Breakdown, By Application, 2018 & 2027 (%)
Figure 19. Asia Pacific Emulation Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 20. Asia Pacific Translation Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 21. Asia Pacific Business Rules Extraction Market, Revenue and Forecast to 2027 (US$ Mn)
Figure 22. APAC Application Modernization Tool Market Breakdown, By Country, 2018 & 2027(%)
Figure 23. China Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
Figure 24. Japan Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
Figure 25. India Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
Figure 26. South Korea Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
Figure 27. Australia Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
Figure 28. Rest of APAC Application Modernization Tool Market Revenue and Forecast To 2027 (US$ Mn)
The List of Companies
- Advanced Computer Software Group Limited
- Aspire Systems (India) Pvt. Ltd.
- Atos SE
- Deloitte Touche Tohmatsu Limited
- FreeSoft
- IBM Corporation
- Micro Focus International plc
- Mphasis Limited
- Semantic Designs
- Virtusa Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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