Application Modernization Services
SKU
MRR-374DB5A06E56
Region
Global
Publication Date
March 2024
Delivery
Immediate
2023
USD 9.50 billion
2030
USD 28.71 billion
2024
USD 10.95 billion
CAGR
17.11%
Application Modernization Services Market by Service (Application Integration, Application Portfolio Assessment, Application Re-Platforming), Deployment Mode (Hybrid Cloud, Private Cloud, Public Cloud), End Users, Vertical - Global Forecast 2024-2030

[186 Pages Report] The Application Modernization Services Market size was estimated at USD 9.50 billion in 2023 and expected to reach USD 10.95 billion in 2024, at a CAGR 17.11% to reach USD 28.71 billion by 2030.

Application Modernization Services Market
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Application modernization services aim to minimize legacy app running costs, improve their features, performance, and security, and ensure that the upgraded solutions remain scalable and easy to manage in the long run. Vendors offer end-to-end app modernization services to assist businesses in driving new value from their old technologies, according to mature software modernization and risk management practices. The changing business landscape, growing digitization, and significant adoption of cloud-based services are propelling the growth of the application modernization services market. On the other hand, the dearth of skilled and experienced workforce and associated high costs may hamper the market development. Nevertheless, the ongoing technologically advanced services and rising DevOps trend among enterprises create lucrative prospects in the forecast period.

Application Modernization Services Market - Global Forecast 2024-2030
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Regional Insights

The well-established end-user industries and sustainable suppliers have increased the application modernization service market scope for better production and worker efficiency worldwide. Application modernization services are significantly emerging in the American region due to state-of-the-art IT infrastructure and competitive technical expertise. The European market also witnesses tremendous growth prospects in the region due to the presence of major players and ongoing technological advancements. On the other hand, the emerging digitization developments in the Asia-pacific region encourage small and large-scale enterprises to adopt application modernization services. The favorable government support to increase digital capabilities and enhance technological advances on an industrial scale has raised the development of the application modernization market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Application Modernization Services Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Application Modernization Services Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • VTI Korea signed a MOU with insoft for hybrid offshoring and application modernization.

    VTI Korea provides hybrid offshoring and application modernization services to their clients, offering them access to ultra-modern technology in South Korea along with the benefit of cost savings. This is backed by the skilled and experienced development team that the company has with plenty of expertise in application modernization. The services provided include a wide range of benefits such as efficient assistance with consultation plus high quality development and support so that businesses are able to stay abreast of technological changes and advancements. All these features add up to an unbeatable service, helping companies unlock greater efficiency and improved customer satisfaction. [Published On: 2023-03-23]

  • Infosys expands Cloud collaborates with Microsoft.

    Infosys, a leading global technology company based in India, recently announced its collaboration with Microsoft, a world leader in cloud solutions and services. This partnership will widen the existing portfolio of cloud offerings from Microsoft to enable clients across the globe to transition faster towards digital transformation, focusing especially on application modernization services. By leveraging Microsoft’s Azure Cloud platform and AI-driven capabilities along with Infosys’ industry expertise and technology-led innovation approach, the two companies aim to create solutions that bring about tangible business outcomes for their customers and at the same time accelerate growth within their markets. As part of this agreement, both companies have also pledged their commitment to expanding existing skillsets among their employee base and boost innovation efforts to ensure they remain agile in an ever-evolving market. [Published On: 2023-02-23]

  • IT Ally Launches SMB Modernize in Partnership with CAST to Accelerate Application Modernization.

    IT Ally is proud to announce the launch of SMB Modernize in partnership with CAST, a comprehensive application modernization suite that provides the necessary tools and insights businesses need to stay competitive. From migrating legacy applications to harnessing the power of cloud-native architecture, SMB Modernize offers a wide range of powerful services for companies in all stages of their digital transformation. With its easy-to-use dashboard and intuitive reporting capabilities, SMB Modernize makes it simple for teams to ensure application performance, availability and security while gaining value from their enterprise systems as enterprises continue to scale. With SMB Modernize providing critical application modernization services on which organizations now depend, customers are guaranteed reliable outcomes without sacrificing time or budget constraints. Companies of all sizes can quickly modernize their IT infrastructure and propel themselves into the future while lowering risk and increasing value. [Published On: 2023-01-17]

Key Company Profiles

The report delves into recent significant developments in the Application Modernization Services Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Adobe Inc., Alibaba Cloud by Alibaba Group, Amazon Web Services, Inc., AppScale Systems, Inc., Aspire Systems, Atos SE, Bell Integrator, Blu Age, Capgemini SE, Cisco Systems, Inc., Cognizant, Cuelogic by Larsen & Toubro Infotech, Dell Inc., dinCloud by ATSG Company, DXC Technology, Ekco Group, EvolveWare Inc., Fujitsu Ltd., Genesys, Google LLC by Alphabet, Inc., HCL Technologies Ltd., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Infosys Ltd., International Business Machines Corporation, Lansa Inc., Megaport.com, Microfocus by Open Text Corporation, Microsoft Corporation, Modern Systems by ModSys International Ltd., NetApp, NTT DATA Corporation, Oodles Technologies, Oracle Corporation, ORock Technologies, OVH SAS, Rackspace Technology, Salesforce, Inc., SAP SE, Semantic Designs, Incorporated, ServiceNow, Softura, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Tudip Technologies Pvt. Ltd., Verizon, VMware, Inc. by Broadcom, Inc., Wipro Ltd., and Xencia Techologies.

Market Segmentation & Coverage

This research report categorizes the Application Modernization Services Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Service
    • Application Integration
    • Application Portfolio Assessment
    • Application Re-Platforming
    • Cloud Application Migration
    • Post Modernization
    • UI Modernization
  • Deployment Mode
    • Hybrid Cloud
    • Private Cloud
    • Public Cloud
  • End Users
    • Large Enterprises
    • SMEs
  • Vertical
    • BFSI
    • Energy & Utilities
    • Government & Public Sector
    • Healthcare & Life Sciences
    • IT & ITeS
    • Manufacturing
    • Retail & Consumer Goods

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects:

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

  1. What is the market size and forecast of the Application Modernization Services Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Application Modernization Services Market?
  3. What are the technology trends and regulatory frameworks in the Application Modernization Services Market?
  4. What is the market share of the leading vendors in the Application Modernization Services Market?
  5. Which modes and strategic moves are suitable for entering the Application Modernization Services Market?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Application Modernization Services Market, by Service
  7. Application Modernization Services Market, by Deployment Mode
  8. Application Modernization Services Market, by End Users
  9. Application Modernization Services Market, by Vertical
  10. Americas Application Modernization Services Market
  11. Asia-Pacific Application Modernization Services Market
  12. Europe, Middle East & Africa Application Modernization Services Market
  13. Competitive Landscape
  14. Competitive Portfolio
Companies Mentioned
  • Accenture PLC
  • Adobe Inc.
  • Alibaba Cloud by Alibaba Group
  • Amazon Web Services, Inc.
  • AppScale Systems, Inc.
  • Aspire Systems
  • Atos SE
  • Bell Integrator
  • Blu Age
  • Capgemini SE
  • Cisco Systems, Inc.
  • Cognizant
  • Cuelogic by Larsen & Toubro Infotech
  • Dell Inc.
  • dinCloud by ATSG Company
  • DXC Technology
  • Ekco Group
  • EvolveWare Inc.
  • Fujitsu Ltd.
  • Genesys
  • Google LLC by Alphabet, Inc.
  • HCL Technologies Ltd.
  • Hewlett Packard Enterprise Development LP
  • Huawei Technologies Co., Ltd.
  • Infosys Ltd.
  • International Business Machines Corporation
  • Lansa Inc.
  • Megaport.com
  • Microfocus by Open Text Corporation
  • Microsoft Corporation
  • Modern Systems by ModSys International Ltd.
  • NetApp
  • NTT DATA Corporation
  • Oodles Technologies
  • Oracle Corporation
  • ORock Technologies
  • OVH SAS
  • Rackspace Technology
  • Salesforce, Inc.
  • SAP SE
  • Semantic Designs, Incorporated
  • ServiceNow
  • Softura
  • Tata Consultancy Services Ltd.
  • Tech Mahindra Ltd.
  • Tudip Technologies Pvt. Ltd.
  • Verizon
  • VMware, Inc. by Broadcom, Inc.
  • Wipro Ltd.
  • Xencia Techologies
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Frequently Asked Questions about the Application Modernization Services Market
The Global Application Modernization Services Market size was estimated at USD 9.50 billion in 2023 and expected to reach USD 10.95 billion in 2024.
The Global Application Modernization Services Market to grow USD 28.71 billion by 2030, at a CAGR of 17.11%
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