Market Overview —
Application modernization is a service that has been designed to manage legacy transformation into new applications. Market Research Future (MRFR) has published and released a research report about the global application modernization services market that anticipates growth for this market during the forecast period between 2017 and 2023. In terms of cash, this market is expected to be worth US $ 20 bn.
The key factors that can influence the growth of the global application modernization services market include the growing adoption of cloud computing in various industrial & enterprise applications, the increasing need of faster recognition & delivery of services in business, and taking most of the benefit from data analytics & related technologies.
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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.).
The global Application Modernization Services Market has been segmented by type, industry vertical, organization size and region.
• By type, the market has been segmented into cloud application migration, application re-platforming, application integration, user interface modernization, postmodernization, and application portfolio assessment.
• By industry vertical the market has been segmented into media and entertainment, healthcare, banking and financial services, IT & Telecom, manufacturing, government, retail and others.
• By region, the market has been segmented into North America, Europe, the Asia Pacific (APAC) and the Rest of the World (RoW).
The global applications modernization services market is presently dominated by North America with Europe closely following. The growth of these regions and their positioning can be attributed to the strong presence of numerous market leaders. Countries such as the U.S have key players that operate out of the country and provide services across the world, thus facilitating robust market growth. There is also a swift adoption of modern technology and modern infrastructure which allows for rapid growth of the market.
Meanwhile, the Asia Pacific is projected to be the fastest growing regional market segment. This is primarily due to the emerging economies in the region. Additionally, India has earned a name for itself as an IT hub and has some of the worlds leading market players in the country. Supportive government policies and the presence of key players who offer services worldwide and locally are expected to propel growth during the forecast period.
Latest Industry News
• IBM has acquired Red Hat for US $34 bn. 30 OCT 2018
• Based in Silicon Valley, the software engineering and professional services provider Imaginea Technologies is collaborating with WaveMaker Inc., a leading enterprise low-code Rapid Application Development platform. The purpose of this collaboration is to provide critical digital transformation solutions for customers looking to modernize their applications efficiently and strategically. 24 OCT 2018
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• Application Modernization Services providers
• IT providers
• Software vendors
• Retail vendors
• Cloud service providers
• Local/Government Agencies
• Cloud Infrastructure Agencies
• Value-added Resellers
• Research Firms
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Release ID: 503699