Scope of the Study
Application Modernization Services pertain to the transformation of legacy applications to optimized, modern applications or platforms. The major components of the services include assessment, migration, integration, re-platforming, rehosting, recoding, rearchitecting, reengineering, remediation, and replacement and retirement. The United States is the major dominating country in the global market and holds around ~31% of the global market. The growing number of enterprises and need to for business agility and faster time to market is driving the demand for application modernization services globally
The market study is being classified, by Application (Emulation, Translation and Business Rules Extraction) and major geographies with country level break-up. According to AMA, the Global Application Modernization Services market is expected to see growth rate of 17.61%
Accenture (Ireland), IBM (United States), HCL (India), Oracle (United States), Softura (United States), TCS (India), Cognizant (United States), Capgemini (France), Bell Integrator (United States), Atos (France), Blu Age (France), Dell (United States), DXC Technology (United States), Fujitsu (Japan), Infosys (India), Innova Solutions (United States), MongoDB (United States), NTT Data (Japan), Virtusa (United States) and Wipro (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Aspire Systems (India), LTI (United States), Microfocus (United Kingdom), Hexaware (India) and EPAM Systems (United States).
Research Analyst at AMA predicts that United States and European Players will contribute to the maximum growth of Global Application Modernization Services market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Application Modernization Services market by Type, Application and Region.
On the basis of geography, the market of Application Modernization Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Need For Business Agility And Faster Time To Market
- Adopting Cloud Computing In The Application Modernization Strategy
- Serverless Solution To Applications Modernization
- Leveraging Big Data Technologies
- High Costs And Complexities Involved In Application Modernization
- Evolution Of Open Standards For Software Development
- Benefits Of Integrating Modern Technologies With Software Systems
- Lack Of IT Skills Among Employees
In February 2020, Cognizant entered into a partnership with CECONY to modernize its applications, technology infrastructure, and legacy technology platform. This partnership will focus on enhancing operational efficiencies, enabling greater agility, and improving the customer experience for CECONY customers.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Application Modernization Services Providers, Cloud Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase