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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

Publisher 360iResearch
Published Jan 15, 2024
Length 188 Pages
SKU # IRE18418454

Description

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


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 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.

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.

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?


    Note: PDF & Excel + Online Access - 1 Year

    • Table of Contents

    188 Pages
    1. Preface
    1.1. Objectives of the Study
    1.2. Market Segmentation & Coverage
    1.3. Years Considered for the Study
    1.4. Currency & Pricing
    1.5. Language
    1.6. Limitations
    1.7. Assumptions
    1.8. Stakeholders
    2. Research Methodology
    2.1. Define: Research Objective
    2.2. Determine: Research Design
    2.3. Prepare: Research Instrument
    2.4. Collect: Data Source
    2.5. Analyze: Data Interpretation
    2.6. Formulate: Data Verification
    2.7. Publish: Research Report
    2.8. Repeat: Report Update
    3. Executive Summary
    4. Market Overview
    4.1. Introduction
    4.2. Application Modernization Services Market, by Region
    5. Market Insights
    5.1. Market Dynamics
    5.1.1. Drivers
    5.1.1.1. Rising demand for application modernization services owing to rapid digitalization across business
    5.1.1.2. Increasing adoption of cloud-based computing and cutting-edge technologies
    5.1.1.3. Growing demand for improved software functionalities due to changing business landscape
    5.1.2. Restraints
    5.1.2.1. High cost and complexity issue associated with modernization services
    5.1.3. Opportunities
    5.1.3.1. Increasing demand for the DevOps among enterprises to enhance efficiency and reach their customer at faster rate
    5.1.3.2. Emergence of technologically advanced services in AMS and evolution of open standards for software development
    5.1.4. Challenges
    5.1.4.1. Limited number of IT skills employees in modernization services
    5.2. Market Segmentation Analysis
    5.3. Market Trend Analysis
    5.4. Cumulative Impact of High Inflation
    5.5. Porter’s Five Forces Analysis
    5.5.1. Threat of New Entrants
    5.5.2. Threat of Substitutes
    5.5.3. Bargaining Power of Customers
    5.5.4. Bargaining Power of Suppliers
    5.5.5. Industry Rivalry
    5.6. Value Chain & Critical Path Analysis
    5.7. Regulatory Framework
    6. Application Modernization Services Market, by Service
    6.1. Introduction
    6.2. Application Integration
    6.3. Application Portfolio Assessment
    6.4. Application Re-Platforming
    6.5. Cloud Application Migration
    6.6. Post Modernization
    6.7. UI Modernization
    7. Application Modernization Services Market, by Deployment Mode
    7.1. Introduction
    7.2. Hybrid Cloud
    7.3. Private Cloud
    7.4. Public Cloud
    8. Application Modernization Services Market, by End Users
    8.1. Introduction
    8.2. Large Enterprises
    8.3. SMEs
    9. Application Modernization Services Market, by Vertical
    9.1. Introduction
    9.2. BFSI
    9.3. Energy & Utilities
    9.4. Government & Public Sector
    9.5. Healthcare & Life Sciences
    9.6. IT & ITeS
    9.7. Manufacturing
    9.8. Retail & Consumer Goods
    10. Americas Application Modernization Services Market
    10.1. Introduction
    10.2. Argentina
    10.3. Brazil
    10.4. Canada
    10.5. Mexico
    10.6. United States
    11. Asia-Pacific Application Modernization Services Market
    11.1. Introduction
    11.2. Australia
    11.3. China
    11.4. India
    11.5. Indonesia
    11.6. Japan
    11.7. Malaysia
    11.8. Philippines
    11.9. Singapore
    11.10. South Korea
    11.11. Taiwan
    11.12. Thailand
    11.13. Vietnam
    12. Europe, Middle East & Africa Application Modernization Services Market
    12.1. Introduction
    12.2. Denmark
    12.3. Egypt
    12.4. Finland
    12.5. France
    12.6. Germany
    12.7. Israel
    12.8. Italy
    12.9. Netherlands
    12.10. Nigeria
    12.11. Norway
    12.12. Poland
    12.13. Qatar
    12.14. Russia
    12.15. Saudi Arabia
    12.16. South Africa
    12.17. Spain
    12.18. Sweden
    12.19. Switzerland
    12.20. Turkey
    12.21. United Arab Emirates
    12.22. United Kingdom
    13. Competitive Landscape
    13.1. FPNV Positioning Matrix
    13.2. Market Share Analysis, By Key Player
    13.3. Competitive Scenario Analysis, By Key Player
    13.3.1. Merger & Acquisition
    13.3.1.1. IBM to acquire Octo to become the largest digital transformation partner to the federal government.
    13.3.1.2. Ensono acquires expersolve to expand mainframe modernization services.
    13.3.1.3. Mlogica acquires innovative legacy modernization firm Reverse Paradigm.
    13.3.2. Agreement, Collaboration, & Partnership
    13.3.2.1. VTI Korea signed a MOU with insoft for hybrid offshoring and application modernization.
    13.3.2.2. Infosys expands Cloud collaborates with Microsoft.
    13.3.2.3. Astadia Partners with CAST to Accelerate Application Modernization.
    13.3.2.4. CloudHedge Partners with Tech Mahindra to Accelerate Modernization of Legacy Apps to Cloud using OmniDeq.
    13.3.3. New Product Launch & Enhancement
    13.3.3.1. IT Ally Launches SMB Modernize in Partnership with CAST to Accelerate Application Modernization.
    13.3.3.2. Kyndryl launches Cloud Native Services to aid app modernization.
    13.3.3.3. Google Cloud Launches Service to Simplify Mainframe Modernization for Customers in Financial Services, Retail, Healthcare and Other Industries.
    14. Competitive Portfolio
    14.1. Key Company Profiles
    14.1.1. Accenture PLC
    14.1.2. Adobe Inc.
    14.1.3. Alibaba Cloud by Alibaba Group
    14.1.4. Amazon Web Services, Inc.
    14.1.5. AppScale Systems, Inc.
    14.1.6. Aspire Systems
    14.1.7. Atos SE
    14.1.8. Bell Integrator
    14.1.9. Blu Age
    14.1.10. Capgemini SE
    14.1.11. Cisco Systems, Inc.
    14.1.12. Cognizant
    14.1.13. Cuelogic by Larsen & Toubro Infotech
    14.1.14. Dell Inc.
    14.1.15. dinCloud by ATSG Company
    14.1.16. DXC Technology
    14.1.17. Ekco Group
    14.1.18. EvolveWare Inc.
    14.1.19. Fujitsu Ltd.
    14.1.20. Genesys
    14.1.21. Google LLC by Alphabet, Inc.
    14.1.22. HCL Technologies Ltd.
    14.1.23. Hewlett Packard Enterprise Development LP
    14.1.24. Huawei Technologies Co., Ltd.
    14.1.25. Infosys Ltd.
    14.1.26. International Business Machines Corporation
    14.1.27. Lansa Inc.
    14.1.28. Megaport.com
    14.1.29. Microfocus by Open Text Corporation
    14.1.30. Microsoft Corporation
    14.1.31. Modern Systems by ModSys International Ltd.
    14.1.32. NetApp
    14.1.33. NTT DATA Corporation
    14.1.34. Oodles Technologies
    14.1.35. Oracle Corporation
    14.1.36. ORock Technologies
    14.1.37. OVH SAS
    14.1.38. Rackspace Technology
    14.1.39. Salesforce, Inc.
    14.1.40. SAP SE
    14.1.41. Semantic Designs, Incorporated
    14.1.42. ServiceNow
    14.1.43. Softura
    14.1.44. Tata Consultancy Services Ltd.
    14.1.45. Tech Mahindra Ltd.
    14.1.46. Tudip Technologies Pvt. Ltd.
    14.1.47. Verizon
    14.1.48. VMware, Inc. by Broadcom, Inc.
    14.1.49. Wipro Ltd.
    14.1.50. Xencia Techologies
    14.2. Key Product Portfolio
    15. Appendix
    15.1. Discussion Guide
    15.2. License & Pricing
    FIGURE 1. APPLICATION MODERNIZATION SERVICES MARKET RESEARCH PROCESS
    FIGURE 2. APPLICATION MODERNIZATION SERVICES MARKET SIZE, 2023 VS 2030
    FIGURE 3. APPLICATION MODERNIZATION SERVICES MARKET SIZE, 2018-2030 (USD MILLION)
    FIGURE 4. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY REGION, 2023 VS 2030 (%)
    FIGURE 5. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 6. APPLICATION MODERNIZATION SERVICES MARKET DYNAMICS
    FIGURE 7. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY SERVICE, 2023 VS 2030 (%)
    FIGURE 8. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY SERVICE, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 9. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY DEPLOYMENT MODE, 2023 VS 2030 (%)
    FIGURE 10. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY DEPLOYMENT MODE, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 11. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY END USERS, 2023 VS 2030 (%)
    FIGURE 12. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY END USERS, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 13. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY VERTICAL, 2023 VS 2030 (%)
    FIGURE 14. APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY VERTICAL, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 15. AMERICAS APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
    FIGURE 16. AMERICAS APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 17. UNITED STATES APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY STATE, 2023 VS 2030 (%)
    FIGURE 18. UNITED STATES APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 19. ASIA-PACIFIC APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
    FIGURE 20. ASIA-PACIFIC APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 21. EUROPE, MIDDLE EAST & AFRICA APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
    FIGURE 22. EUROPE, MIDDLE EAST & AFRICA APPLICATION MODERNIZATION SERVICES MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
    FIGURE 23. APPLICATION MODERNIZATION SERVICES MARKET, FPNV POSITIONING MATRIX, 2023
    FIGURE 24. APPLICATION MODERNIZATION SERVICES MARKET SHARE, BY KEY PLAYER, 2023

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