Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming, Application Integration, UI Modernization), Organization Size, Vertical & Region- Global Forecast to 2022

  • ID: 4415705
  • Report
  • Region: Global
  • 121 Pages
  • Markets and Markets
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The Application Modernization Services Market Size is Expected to Grow from USD 6.87 Billion in 2017 to USD 16.67 Billion By 2022, at a CAGR of 19.4%

FEATURED COMPANIES

  • Accenture
  • Atos
  • Capgemini
  • Fujitsu
  • IBM
  • Micro Focus
  • MORE

The application modernization services market is projected to grow at a CAGR of 19.4% during the forecast period

The major driver for the upsurge in demand for the application modernization services market is the adoption of cloud computing in the application modernization strategy. The major restraining factor is the large investments made on legacy systems, which have delayed the application modernization plans.

Manufacturing vertical is expected to grow at the fastest rate during the forecast period

The manufacturing vertical is expected to witness the highest growth rate during the forecast period, owing to the need of improving the operational process, reducing the cost, and rolling out products in a quick time frame, further eliminating the location barriers. In addition, there is high penetration of advance technologies, such as cloud computing, big data and analytics, mobility, and artificial intelligence, which are transforming the manufacturing vertical.

Large enterprises segment is expected to hold the largest market share during the forecast period

The large enterprises segment is expected to hold the largest market share during the forecast period, owing to the need to reduce the high Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). Large enterprises have dedicated in-house IT resources, and with large IT budgets, they can consider a variety of application modernization strategies. In addition, they have a global presence, high market share, technical expertise, and an effective business strategy.

APAC is expected to grow at the fastest rate during the forecast period

As per the geographic analysis, the Asia Pacific (APAC) region is expected to witness the fastest growth in the application modernization services market, due to increased spending on improving the infrastructure, and the growing adoption of big data and cloud computing technologies. North America is expected to hold the largest market share during the forecast period, owing to the early adoption of application modernization services technology and high penetration of advance cloud technologies.

The break-up profiles of the primary discussion participants are given below:

  • By Company Type: Tier 1 (45%), Tier 2 (35%), and Tier 3 (20%)
  • By Designation: C-Level (50%), Director Level (30%), and Manager Level (20%)
  • By Region: North America (40%), Europe (30%), APAC (20%), and RoW (10%)

The key application modernization services market vendors profiled in the report are as follows:
1. Accenture (Republic of Ireland)
2. Asysco (Netherlands)
3. Atos (France)
4. Bell Integrator (US)
5. Capgemini (France)
6. Cognizant (US)
7. Fujitsu (Japan)
8. HCL (India)
9. IBM (US)
10. Macrosoft Inc. (US)
11. Micro Focus (UK)
12. Oracle (US)
13. Tech Mahindra (India)
14. UST Global (US)

Research Coverage

The global application modernization services market has been segmented on the basis of services, organization sizes, verticals, and regions. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities across different regions. In addition to this, the strength of service portfolio and business strategy excellence are some of the other MarketsandMarkets analysis included in the report.

Reasons to Buy the Report

The report will help the market leaders/new entrants in the application modernization services market in the following ways:

1. The report segments the application modernization services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and subsegments across different regions.

2. The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

3. The report helps the stakeholders understand the competitors and gain more insights to better their position in the market.

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FEATURED COMPANIES

  • Accenture
  • Atos
  • Capgemini
  • Fujitsu
  • IBM
  • Micro Focus
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions And Limitations
2.3.1 Assumptions
2.3.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Application Modernization Services Market
4.2 Application Modernization Services Market Snapshot,By Region (2017 Vs. 2022)
4.3 Application Modernization Services Market, By Service (2017 Vs. 2022)
4.4 Application Modernization Services Market, By Vertical (2017 Vs. 2022)
4.5 Market Investment Scenario

5 Market Overview And Industry Trends
5.1 Introduction
5.2 Use Cases
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growing Need for Business Agility And Faster Time to Market
5.3.1.2 Benefits of Leveraging Big Data Technologies in the Connected Era
5.3.1.3 Cloud Computing-A Major Component of Application Modernization Strategy
5.3.2 Restraints
5.3.2.1 Large Investments Made On Legacy Systems Delaying the Application Modernization Plans
5.3.2.2 Increasing Shortage of Skilled Resources for Legacy Technologies
5.3.3 Opportunities
5.3.3.1 Existence of Large Number of Legacy Applications Offering a Huge Revenue Opportunity
5.3.3.2 Open-Source Technology Paving the Way for Untapped Possibilities
5.3.4 Challenges
5.3.4.1 Application Modernization-A Time-Intensive Process
5.3.4.2 Architectural And Operational Complexities
5.3.4.3 Traditional Organizational Culture-A Major Hurdle for the Initiation of the Modernization Process

6 Application Modernization Services Market Analysis, By Service
6.1 Introduction
6.2 Application Portfolio Assessment
6.3 Cloud Application Migration
6.4 Application Replatforming
6.5 Application Integration
6.6 Ui Modernization
6.7 Post-Modernization

7 Application Modernization Services Market Analysis,By Organization Size
7.1 Introduction
7.2 Small And Medium-Sized Enterprises
7.3 Large Enterprises

8 Application Modernization Services Market Analysis, By Vertical
8.1 Introduction
8.2 Banking, Financial Services, And Insurance
8.3 Healthcare
8.4 It And Telecom
8.5 Retail
8.6 Government
8.7 Manufacturing
8.8 Others
 
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Latin America
9.6 Middle East And Africa

10 Competitive Landscape
10.1 Market Raking Analysis

11 Company Profiles
(Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
11.1 Accenture
11.2 Asysco
11.3 Atos
11.4 Bell Integrator
11.5 Capgemini
11.6 Cognizant
11.7 Fujitsu
11.8 Hcl
11.9 Ibm
11.10 Macrosoft Inc.
11.11 Micro Focus
11.12 Oracle
11.13 Tech Mahindra
11.14 Ust Global
*Details On Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Subscription Portal
12.3 Introducing Rt: Real-Time Market Intelligence
12.4 Available Customization
12.5 Related Reports
12.6 Author Details

List of Tables:
Table 1 United States Dollar Exchange Rate, 2014-2017
Table 2 Application Modernization Services Market: Use Cases
Table 3 Services: Application Modernization Services Market Size,By Type, 2015-2022 (USD Million)
Table 4 Application Portfolio Assessment Market Size, By Region, 2015-2022 (USD Million)
Table 5 Cloud Application Migration Market Size, By Region, 2015-2022 (USD Million)
Table 6 Application Replatforming Market Size, By Region, 2015-2022 (USD Million)
Table 7 Application Integration Market Size, By Region, 2015-2022 (USD Million)
Table 8 Ui Modernization Market Size, By Region, 2015-2022 (USD Million)
Table 9 Post-Modernization Market Size, By Region, 2015-2022 (USD Million)
Table 10 Application Modernization Services Market Size, By Organization Size, 2015-2022 (USD Million)
Table 11 Small And Medium-Sized Enterprises: Application Modernization Services Market Size, By Region, 2015-2022 (USD Million)
Table 12 Large Enterprises: Application Modernization Services Market Size,By Region, 2015-2022 (USD Million)
Table 13 Application Modernization Services Market Size, By Vertical, 2015-2022 (USD Million)
Table 14 Banking, Financial Services, And Insurance: Application Modernization Services Market Size, By Region, 2015-2022 (USD Million)
Table 15 Healthcare: Application Modernization Services Market Size,By Region, 2015-2022 (USD Million)
Table 16 It And Telecom: Application Modernization Services Market Size,By Region, 2015-2022 (USD Million)
Table 17 Retail: Application Modernization Services Market Size, By Region, 2015-2022 (USD Million)
Table 18 Government: Application Modernization Services Market Size,By Region, 2015-2022 (USD Million)
Table 19 Manufacturing: Application Modernization Services Market Size, By Region, 2015-2022 (USD Million)
Table 20 Other Verticals Market Size, By Region, 2015-2022 (USD Million)
Table 21 Application Modernization Services Market Size, By Region, 2015-2022 (USD Million)
Table 22 North America: Application Modernization Services Market Size,By Service, 2015-2022 (USD Million)
Table 23 North America: Application Modernization Services Market Size,By Organization Size, 2015-2022 (USD Million)
Table 24 North America: Application Modernization Services Market Size,By Vertical, 2015-2022 (USD Million)
Table 25 Europe: Application Modernization Services Market Size, By Service, 2015-2022 (USD Million)
Table 26 Europe: Application Modernization Services Market Size,By Organization Size, 2015-2022 (USD Million)
Table 27 Europe: Application Modernization Services Market Size, By Vertical, 2015-2022 (USD Million)
Table 28 Asia Pacific: Application Modernization Services Market Size,By Service, 2015-2022 (USD Million)
Table 29 Asia Pacific: Application Modernization Services Market Size,By Organization Size, 2015-2022 (USD Million)
Table 30 Asia Pacific: Application Modernization Services Market Size,By Vertical, 2015-2022 (USD Million)
Table 31 Latin America: Application Modernization Services Market Size, By Service, 2015-2022 (USD Million)
Table 32 Latin America: Application Modernization Services Market Size,By Organization Size, 2015-2022 (USD Million)
Table 33 Latin America: Application Modernization Services Market Size,By Vertical, 2015-2022 (USD Million)
Table 34 Middle East And Africa: Application Modernization Services Market Size, By Service 2015-2022 (USD Million)
Table 35 Middle East And Africa: Application Modernization Services Market Size, By Organization Size, 2015-2022 (USD Million)
Table 36 Middle East And Africa: Application Modernization Services Market Size, By Vertical, 2015-2022 (USD Million)
Table 37 Market Ranking By Company, 2017

List of Figures:
Figure 1 Application Modernization Services Market: Market Segmentation
Figure 2 Application Modernization Services Market: Research Design
Figure 3 Breakdown of Primaries: By Company, Designation, And Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Application Modernization Services Market: Assumptions
Figure 8 Application Modernization Services Market Growth During the Forecast Period
Figure 9 Top 3 Leading Segments of the Application Modernization Services Market in 2017
Figure 10 Growing Need for Business Agility And Availability of Cloud Technology Are Driving the Market Toward Growth
Figure 11 Asia Pacific is Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 12 Application Replatforming Service Segment is Expected to Hold the Largest Market Share in 2022
Figure 13 Banking, Financial Services, And Insurance Vertical Would Dominate the Overall Market Share During the Forecast Period
Figure 14 Application Modernization Services Market: Market Investment Scenario
Figure 15 Application Modernization Services Market: Drivers, Restraints, Opportunities, And Challenges
Figure 16 Application Replatforming Segment is Expected to Hold the Largest Market Size in the Application Modernization Services Market During the Forecast Period
Figure 17 Large Enterprises Segment is Expected to Have the Larger Market Size During the Forecast Period
Figure 18 Banking, Financial Services, And Insurance Vertical is Expected to Have the Largest Market Size During the Forecast Period
Figure 19 North America is Expected to Have the Largest Market Size for the Application Modernization Services Market During the Forecast Period
Figure 20 Regional Snapshot: Asia Pacific is Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 21 North America: Market Snapshot
Figure 22 Asia Pacific: Market Snapshot
Figure 23 Accenture: Company Snapshot
Figure 24 Atos: Company Snapshot
Figure 25 Capgemini: Company Snapshot
Figure 26 Cognizant: Company Snapshot
Figure 27 Fujitsu: Company Snapshot
Figure 28 Hcl: Company Snapshot
Figure 29 Ibm: Company Snapshot
Figure 30 Micro Focus: Company Snapshot
Figure 31 Oracle: Company Snapshot
Figure 32 Tech Mahindra: Company Snapshot

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FEATURED COMPANIES

  • Accenture
  • Atos
  • Capgemini
  • Fujitsu
  • IBM
  • Micro Focus
  • MORE

The application modernization services market size is expected to grow from USD 6.87 Billion in 2017 to USD 16.67 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. The major drivers of the market include the growing need for business agility and faster time to market, leveraging big data technologies, and adopting cloud computing in the application modernization strategy.

The scope of the report covers the application modernization services market analysis by service, organization size, vertical, and region. The application integration service is expected to have the largest market share during the forecast period, owing to the growing need for integrating the existing legacy applications and databases with new applications, which exploit the internet, eCommerce, extranet, and other new technologies. The application replatforming service is expected to grow at the highest CAGR during the forecast period. The legacy applications do not support new integrations, hence modernizing the applications requires the applications to be deployed on new platforms that offer the required scalability and flexibility for faster application development.

The large enterprises segment is expected to have the largest market share during the forecast period, owing to the need to reduce the high Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). Large enterprises have dedicated in-house IT resources, and with large IT budgets, they can consider a variety of application modernization strategies. The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at the highest rate, owing to the high adoption of the lift-and-shift migration strategy, which enables their businesses to scale and grow faster.

The Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market share during the forecast period, owing to the growing adoption of the digital transformation strategy through implementing new technologies and modernizing the existing applications. The manufacturing vertical is expected to grow at the highest rate, owing to the need to improve the operational process, reduce the cost, and roll-out products in a quick time frame, further eliminating the location barriers.

As per the geographic analysis, North America is expected to hold the largest market share during the forecast period, due to the early adoption of application modernization services and a large number of ongoing application modernization projects in this region. Asia Pacific (APAC) is expected to witness the highest growth rate in the application modernization services market during the forecast period, due to increased spending on improving the infrastructure, and the growing adoption of big data and cloud computing technologies.

The major restraining factor that is limiting the application modernization services market growth is the large investments made on legacy systems. These investments are restricting the deployment of advanced application modernization services technologies. The major vendors profiled in the report include Accenture (Republic of Ireland), Asysco (Netherlands), Atos (France), Bell Integrator (US), Capgemini (UK), Cognizant (US), Fujitsu (Japan), HCL (India), IBM (US), Macrosoft Inc. (US), Micro Focus (US), Oracle (US), Tech Mahindra (India), and UST Global (US).

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  • Accenture
  • Asysco
  • Atos
  • Bell Integrator
  • Capgemini
  • Cognizant
  • Fujitsu
  • HCL
  • IBM
  • Macrosoft Inc.
  • Micro Focus
  • Oracle
  • Tech Mahindra
  • UST Global
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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