Application Modernization Services Market Research Report-Forecast till 2027

Global Application Modernization Services Market Research Report, Type (Cloud Application Migration, Ui Modernization), Organization Size (Sme, Large Enterprise), Industry Vertical (Media & Entertainment, Bfsi, Retail, Healthcare) - Forecast Till 2027

ID: MRFR/ICT/4093-HCR | February 2021 | Region: Global | 100 pages

Market synopsis:


Application modernization is a service designed to manage legacy transformation into new applications. The transformation occurs to integrate newer features and functionalities to the existing business. The application modernization generally takes places in terms of re-platforming in case of cloud, re-hosting, re-engineering and many more, in order to make sure that the application architecture is suited well for the business.


The market of application modernization services is largely impacted by factors such as the increasing need of faster recognition and delivery of services in business, taking most of the benefit from data analytics and related technologies, and the growing adoption of cloud computing in various industrial and enterprise applications. However, there are certain factors that restrain the market growth such as heavy monetary investments made by enterprises, which is slowing down the deployment of application modernization services technologies. Another factor slowing down the growth of this market is the lack of skilled resources for legacy technologies. However, the presence of a large number of legacy applications presents a significant opportunity for the market to grow in the near future.


Segmentation:


On the basis of type, the market is segmented into cloud application migration, application re-platforming, application integration, user interface modernization, postmodernization, and application portfolio assessment. On the basis of organization size, the market is segmented into small and medium enterprises, and large enterprises.


On the basis of Industry vertical, the market is segmented into media and entertainment, healthcare, banking and financial services, IT & Telecom, manufacturing, government, retail and others.


On the basis of region, the market is segmented into North America, Europe, Asia Pacific and rest of the world.


Regional Analysis:                    


The market of application modernization services is currently being dominated by North America and it will continue to dominate this market forecast period. Following North America is Europe holding second spot regarding market size and growth rate. The growth of application modernization market in North America is largely due to the presence of some of the prominent vendors. Many of the key players are concentrated in the U.S. only and provide services worldwide. Another major factor that fuels the growth of technology-related services is the faster adoption and suitable infrastructure, plying for a growing number of application modernization projects in this region.


On the other hand, Asia Pacific is sure to lead with the highest growth rate. This is majorly due to existing and emerging enterprises in India. India is tending to become one of the leading hubs for IT services and solutions. Many of the enterprises in India are providing application modernization services in and outside the country. Some of the key players from India include, Wipro, Infosys, HCL and others. The growth of IT services organizations in Asia Pacific, especially India is due to huge government spending to improve the IT infrastructure.


Global Application Modernization Services Market, USD Billion


 Application Modernization Services


Source: MRFR Analysis


Key players:


Some of the key players in the Application Modernization Services market comprise of Accenture PLC (Ireland), Infosys Limited (India), HCL Technologies Limited (India), Sensiple (U.S.), Nous Infosystems Pvt. Ltd (India), DXC Technology Company (U.S.), Happiest Minds Technologies (India), Syntel, Inc (U.S.), Fujitsu Ltd (Japan), Avanade Inc. (U.S.), Espire Infolabs Pvt. Ltd (India), Idexcel, Inc (U.S.), Unisys Corporation (U.S.), Atos SE (France), Bell Integrator, Inc (U.S.), Tech Mahindra Limited (India), Oracle Corporation (U.S.).


Some other vendors include Apps Associates LLC (U.S.), NTT DATA, Inc (U.S.), BDO IT Solution (Canada), Asysco Software B.V (The Netherlands), Micro Focus International Plc (U.K), Macrosoft Inc (U.S.), IBM Corporation (U.S.), Cognizant Technology Solutions Corp (U.S.), Capgemini SE (France), Cyber Infrastructure Pvt. Ltd (India), Wipro Limited (India), Dell Inc (U.S.), DSRC Private Limited (India)


The prominent players continuously keep innovating and investing in research and development to present a cost-effective portfolio. The enterprises have been going through various key developments, including mergers and acquisitions among the key players, enabling the business entities to strengthen their current outreach to their customers.


Intended Audience:



  • Application Modernization Services providers

  • IT providers

  • Software vendors

  • Retail vendors

  • Cloud service providers

  • Local/Government Agencies

  • Cloud Infrastructure Agencies

  • Value-added Resellers

  • Research Firms



Frequently Asked Questions (FAQ) :


The global application modernization services market valuation can touch USD 20 billion by 2023.

The global application modernization services market is expected to exhibit 21% CAGR from 2017 to 2023.

Upgrading of legacy equipment, increased delivery of information among enterprises, cloud computing, and rollout of new business models for optimizing processes can propel the global application modernization services market growth.

North America can lead in the global application modernization services market.

Atos SE, Happiest Minds Technologies, Infosys Limited, Accenture PLC, Espire Infolabs Pvt. Ltd, Syntel, Inc, Avanade Inc., Nous Infosystems Pvt. Ltd, Oracle Corporation, Fujitsu Ltd, Idexcel, Inc, Sensiple, HCL Technologies Limited, Tech Mahindra Limited, Unisys Corporation, DXC Technology Company, and Bell Integrator, Inc are key developers in the global application modernization services market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Application Modernization Services Market

5 Industry Vertical Overview of Global Application Modernization Services Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Application Modernization Services Market by Type

7.1 Introduction

7.2 Cloud Application Migration

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Application Replatforming

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Application Integration

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 User Interface Modernization

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

7.6 Post Modernization

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast by Region, 2020-2027

7.7 Application Portfolio Assessment

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Application Modernization Services Market by Organization Size

8.1 Introduction

8.2 Small and Medium Enterprise

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Large Enterprise

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Application Modernization Services Market by Industry Vertical

9.1 Introduction

9.2 Retail

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Region, 2020-2027

9.3 Media & Entertainment

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Region, 2020-2027

9.4 Healthcare

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Region, 2020-2027

9.5 Banking and Financial Services

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Region, 2020-2027

9.6 Government

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast by Region, 2020-2027

9.7 IT & Telecom

9.7.1 Market Estimates & Forecast, 2020-2027

9.7.2 Market Estimates & Forecast by Region, 2020-2027

10. Global Application Modernization Services Market by Region

10.1 Introduction

10.2 North America

10.2.1 Market Estimates & Forecast, 2020-2027

10.2.2 Market Estimates & Forecast by Type, 2020-2027

10.2.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.2.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.2.5 U.S.

10.2.5.1 Market Estimates & Forecast, 2020-2027

10.2.5.2 Market Estimates & Forecast by Type, 2020-2027

10.2.5.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.2.5.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.2.6 Mexico

10.2.6.1 Market Estimates & Forecast, 2020-2027

10.2.6.2 Market Estimates & Forecast by Type, 2020-2027

10.2.6.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.2.6.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.2.7 Canada

10.2.7.1 Market Estimates & Forecast, 2020-2027

10.2.7.2 Market Estimates & Forecast by Type, 2020-2027

10.2.7.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.2.7.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.3 Europe

10.3.1 Market Estimates & Forecast, 2020-2027

10.3.2 Market Estimates & Forecast by Type, 2020-2027

10.3.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.3.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.3.5 Germany

10.3.5.1 Market Estimates & Forecast, 2020-2027

10.3.5.2 Market Estimates & Forecast by Type, 2020-2027

10.3.5.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.3.5.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.3.6. France

10.3.6.1 Market Estimates & Forecast, 2020-2027

10.3.6.2 Market Estimates & Forecast by Type, 2020-2027

10.3.6.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.3.6.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.3.7 U.K

10.3.7.1 Market Estimates & Forecast, 2020-2027

10.3.7.2 Market Estimates & Forecast by Type, 2020-2027

10.3.7.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.3.7.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.4 Asia Pacific

10.4.1 Market Estimates & Forecast, 2020-2027

10.4.2 Market Estimates & Forecast by Type, 2020-2027

10.4.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.4.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.4.5 China

10.4.5.1 Market Estimates & Forecast, 2020-2027

10.4.5.2 Market Estimates & Forecast by Type, 2020-2027

10.4.5.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.4.5.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.4.6 India

10.4.6.1 Market Estimates & Forecast, 2020-2027

10.4.6.2 Market Estimates & Forecast by Type, 2020-2027

10.4.6.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.4.6.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.4.7 Japan

10.4.7.1 Market Estimates & Forecast, 2020-2027

10.4.7.2 Market Estimates & Forecast by Type, 2020-2027

10.4.7.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.4.7.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.4.8 Rest of Asia Pacific

10.4.8.1 Market Estimates & Forecast, 2020-2027

10.4.8.2 Market Estimates & Forecast by Type, 2020-2027

10.4.8.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.4.8.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.5 Rest of the World

10.5.1 Market Estimates & Forecast, 2020-2027

10.5.2 Market Estimates & Forecast by Type, 2020-2027

10.5.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.5.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.5.5 The Middle East & Africa

10.5.5.1 Market Estimates & Forecast, 2020-2027

10.5.5.2 Market Estimates & Forecast by Type, 2020-2027

10.5.5.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.5.5.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

10.5.6 Latin Countries

10.5.6.1 Market Estimates & Forecast, 2020-2027

10.5.6.2 Market Estimates & Forecast by Type, 2020-2027

10.5.6.3 Market Estimates & Forecast by Organization Size, 2020-2027

10.5.6.4 Market Estimates & Forecast by Industry Vertical, 2020-2027

11. Company Landscape

12. Company Profiles

12.1 Accenture PLC (Ireland)

12.1.1 Company Overview

12.1.2 Type/Business Segment Overview

12.1.3 Financial Updates

12.1.4 Key Developments

12.2 Infosys Limited (India)

12.2.1 Company Overview

12.2.2 Type/Business Segment Overview

12.2.3 Financial Updates

12.2.4 Key Developments

12.3 HCL Technologies Limited (India)

12.3.1 Company Overview

12.3.2 Type/Business Segment Overview

12.3.3 Financial Updates

12.3.4 Key Developments

12.4 Sensiple (U.S.)

12.4.1 Company Overview

12.4.2 Type/Business Segment Overview

12.4.3 Financial Updates

12.4.4 Key Developments

12.5 Nous Infosystems Pvt. Ltd (India)

12.5.1 Company Overview

12.5.2 Type/Business Segment Overview

12.5.3 Financial Updates

12.5.4 Key Developments

12.6 DXC Technology Company (U.S.)

12.6.1 Company Overview

12.6.2 Type/Business Segment Overview

12.6.3 Financial Updates

12.6.4 Key Developments

12.7 Happiest Minds Technologies (India)

12.7.1 Company Overview

12.7.2 Type/Business Segment Overview

12.7.3 Financial Updates

12.7.4 Key Developments

12.8 Syntel, Inc (U.S.)

12.8.1 Company Overview

12.8.2 Type/Business Segment Overview

12.8.3 Financial Updates

12.8.4 Key Developments

12.9 Fujitsu Ltd (Japan)

12.9.1 Company Overview

12.9.2 Type/Business Segment Overview

12.9.3 Financial Updates

12.9.4 Key Developments

12.10 Avanade Inc. (U.S.)

12.10.1 Company Overview

12.10.2 Type/Business Segment Overview

12.10.3 Financial Updates

12.10.4 Key Developments

12.11 Others

13 Conclusion

LIST OF TABLES

Table1 World Population by Major Regions (2020 To 2030)

Table2 Global Application Modernization Services Market: By Region, 2020-2027

Table3 North America Application Modernization Services Market: By Country, 2020-2027

Table4 Europe Application Modernization Services Market: By Country, 2020-2027

Table5 Asia Pacific Application Modernization Services Market: By Country, 2020-2027

Table6 The Middle East & Africa Application Modernization Services Market: By Country, 2020-2027

Table7 Latin America Application Modernization Services Market: By Country, 2020-2027

Table8 Global Application Modernization Services by Type Market: By Regions, 2020-2027

Table9 North America Application Modernization Services by Type Market: By Country, 2020-2027

Table10 Europe Application Modernization Services by Type Market: By Country, 2020-2027

Table11 Asia Pacific Application Modernization Services by Type Market: By Country, 2020-2027

Table12 The Middle East & Africa Application Modernization Services by Type Market: By Country, 2020-2027

Table13 Latin America Application Modernization Services by Type Market: By Country, 2020-2027

Table14 Global Application Modernization Services by Industry Vertical Market: By Regions, 2020-2027

Table15 North America Application Modernization Services by Industry Vertical Market: By Country, 2020-2027

Table16 Europe Application Modernization Services by Industry Vertical Market: By Country, 2020-2027

Table17 Asia Pacific Application Modernization Services by Industry Vertical Market: By Country, 2020-2027

Table18 The Middle East & Africa Application Modernization Services by Industry Vertical Market: By Country, 2020-2027

Table19 Latin America Application Modernization Services by Industry Vertical Market: By Country, 2020-2027

Table20 North America Application Modernization Services for Industry Vertical Market: By Country, 2020-2027

Table21 Europe Application Modernization Services for Industry Vertical Market: By Country, 2020-2027

Table22 Asia Pacific Application Modernization Services for Industry Vertical Market: By Country, 2020-2027

Table23 The Middle East & Africa Application Modernization Services for Industry Vertical Market: By Country, 2020-2027

Table24 Global Type Market: By Region, 2020-2027

Table25 Global Industry Vertical Market: By Region, 2020-2027

Table26 Global Industry Vertical Market: By Region, 2020-2027

Table27 North America Application Modernization Services Market, By Country

Table28 North America Application Modernization Services Market, By Type

Table29 North America Application Modernization Services Market, By Organization Size

Table30 Europe: Application Modernization Services Market, By Organization Size

Table31 Europe: Application Modernization Services Market, By Type

Table32 Asia Pacific: Application Modernization Services Market, By Country

Table33 Asia Pacific: Application Modernization Services Market, By Type

Table34 Asia Pacific: Application Modernization Services Market, By Organization Size

Table35 The Middle East & Africa: Application Modernization Services Market, By Country

Table36 The Middle East & Africa Application Modernization Services Market, By Type

Table37 The Middle East & Africa Application Modernization Services Market, By Organization Size

Table38 Latin America: Application Modernization Services Market, By Country

Table39 Latin America Application Modernization Services Market, By Type

Table40 Latin America Application Modernization Services Market, By Organization Size

Table41 Latin America: Application Modernization Services Market, By Industry Vertical

LIST OF FIGURES

FIGURE 1 Global Application Modernization Services market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Application Modernization Services Market

FIGURE 4 Value Chain of Global Application Modernization Services Market

FIGURE 5 Share of Global Application Modernization Services Market in 2020, by country (in %)

FIGURE 6 Global Application Modernization Services Market, 2020-2027,

FIGURE 7 Sub segments of Type

FIGURE 8 Global Application Modernization Services Market size by Type, 2020

FIGURE 9 Share of Global Application Modernization Services Market by Type, 2020-2027

FIGURE 10 Global Application Modernization Services Market size by Organization Size, 2020

FIGURE 11 Share of Global Application Modernization Services Market by Organization Size, 2020-2027

FIGURE 12 Global Application Modernization Services Market size by Industry Vertical, 2020

FIGURE 13 Share of Global Application Modernization Services Market by Industry Vertical, 2020-2027