Application Modernization Services Market

Report Code TC 5645
Published in Feb, 2025, By MarketsandMarkets™
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Application Modernization Services Market by Service Type (Cloud Application Migration, Application Re-Platforming, Post Modernization), Application Type (Legacy, Cloud-hosted, Cloud-native) - Global Forecast to 2029

Overview

The application modernization services market is projected to grow from USD 19.82 billion in 2024 to USD 39.62 billion by 2029 at a compound annual growth rate (CAGR) of 14.9% from 2024 to 2029. Application modernization services aim to significantly update and transform the legacy software systems to meet the current business needs. Application modernization is a complex process which involves, moving applications to the cloud, restructuring codes to increase their effectiveness and speed, and transforming cloud architecture to modern ones such as microservices, containers and serverless. After a detailed analysis of the current systems in place, the process continues with the formulations of a plan that focuses on the implementation of the technologies such as AI and ML and their needs into the organization and its business processes. These services are focused towards saving costs of operation, enhancing scalability and flexibility, and boosting creativity to help the organizations compete effectively in the digital space that is constantly changing.

ATTRACTIVE OPPORTUNITIES IN APPLICATION MODERNIZATION SERVICES MARKET

Asia Pacific

Digital transformation, the increase in the adoption of cloud computing, the demand for improved operational efficiency, and the growing need for agile and scalable solutions drive the application modernization services market in Asia Pacific.

The growth of this market can be attributed to factors such as increased adoption of cloud-based solutions and microservices architectures, accelerating the uptake of application modernization services.

The Asia-Pacific Application Modernization Services market is expected to be worth USD 10.37 billion by 2029, growing at CAGR of 18.9% during the forecast period.

Innovations in product development, strategic partnerships, mergers and acquisitions, and geographic expansions are likely to be the key growth strategies adopted by players in the enterprise networking market.

The Asia Pacific region is witnessing increased adoption of artificial intelligence (AI) and machine learning (ML) technologies.

Impact of AI on Application Modernization Services Market

Generative AI is transforming application modernization services by automating complex tasks, enhancing efficiency, and reducing manual effort. It accelerates development cycles, optimizes legacy systems, and ensures applications meet modern demands. Tools like OpenAI Codex and GitHub Copilot enable fast coding, while AWS Code Guru helps improve legacy code. ModLogix uses AI to automate code updates and enhance performance, as seen in IKEA’s 300% growth in online sales after modernizing its eCommerce platform. Similarly, IBM employs AI to analyze application logs, validate security, and streamline modernization processes.

Generative AI also enhances test automation with tools like Testim and improves creative design through Adobe Firefly, enabling visually appealing and responsive user interfaces. MuleSoft’s AnyPoint Platform simplifies integration and data migration, while iLink Digital demonstrates AI's ability to analyze outdated systems, extract insights, and support modern system design. By automating key processes and addressing modernization challenges, generative AI enables faster, smarter, and more cost-effective application upgrades.

Application Modernization Services Market Impact

Global Application Modernization Services Market Dynamics

Driver: Rising digital transformation initiatives

The worldwide integration of digitalization is creating an upsurge in the demand for application modernization services. Enabling mobility has become a norm for most organizations which have chosen to abandon the old and overused legacy systems. Organizations are therefore embracing a modern architectural framework comprising of microservices, containerization, cloud-native and others. These systems operate on high efficiency reducing the order fulfillment time, ensuring real time processing of information and actively managing the market demand fluctuations. For instance, Ford has partnered with Google Cloud to completely digitize its operations and processes by automating the IT infrastructure. This progression is necessary for businesses that wish to stay competitive in the market and boost the number of modernization projects executed. In addition, other factors contribute to the increasing requirement for application modernization such as the need to improve business operations, cut down on legacy systems, and implement technologies like Artificial intelligence and the Internet of Things. As more and more organizations begin to understand the importance of such transformations, the need for application modernization services will be on the rise.

This progression is necessary for businesses that seek to stay competitive in the market and boost the number of modernization projects executed. Moreover, various factors contribute to the escalating necessity for application modernization, including the refinement of business operations, the phasing out of legacy systems, and the assimilation of technologies such as artificial intelligence and the Internet of Things. As organizations increasingly grasp the significance of these transformations, the demand for application modernization services will experience a concomitant surge.

Restraint: High costs and complexity

An application modernization services business must contend with the high cost and complexity of replacing obsolete systems as ‘the major challenge’. The process of modernization often requires huge amounts of money and rich technical know-how to redesign or overhaul existing applications. For example, for a SME, hundreds of millions of dollars would be considered as upfront cost incurred to upgrade its old legacy e-commerce systems. Shifting from one core enterprise systems to other new systems may not only take a long time but can be most discouraging due to the already existing systems in place, this becomes even more challenging in the context of big corporations that have carried out large scale system implementations. Smaller firms which do not have funds for additional IT infrastructure development may decide to postpone modernization in favor of the existing management information systems even if this prolongation leads to its operational inefficiencies in the future. These high expenditures may serve as significant barriers to growth, restricting the growth potential of the application modernization services industry.

According to ServiceNow, legacy systems cost organizations an average of USD 40,000 annually to maintain. Moreover, 31% of an organization’s technology infrastructure is composed of legacy systems, with 60-80% of IT budgets allocated to keeping them operational. This creates a significant burden on companies, preventing them from channeling resources toward modernization. Smaller firms, lacking the funds for further IT infrastructure development, may delay modernization in favor of continuing with their existing systems, which can result in operational inefficiencies over time. As a result, the high costs associated with modernization, along with the potential for business disruption, can serve as significant barriers to growth, limiting the potential of the application modernization services industry.

 

Opportunity: Proliferation of Kubernetes and containerization

The growing use of Kubernetes requires effective management and operations at scale, especially as more stateful applications are being used. With this increase, managing these applications and the resources needed to support them becomes more challenging. Therefore, organizations must implement management tools to handle Kubernetes workloads while allowing for future growth. Many companies are adopting containerization to improve the movement of applications and manage data across different systems. Containers, at the operating system level, allow virtualization of storage and computing resources, helping to organize applications in a way that allows them to operate independently. Major companies in application modernization services, such as IBM, Schneider, AWS, Microsoft, HPE, Dell, and Google, are using containers in their systems by incorporating cloud storage and cloud-native storage for persistent data management. For instance, Google Cloud’s Anthos allows businesses to run Kubernetes across multiple clouds, while AWS EKS simplifies the deployment of containerized applications. Red Hat’s OpenShift offers a platform for managing containerized applications with built-in development tools, and Alibaba Cloud provides efficient Kubernetes services for large-scale container management. These examples show how container adoption is increasing and driving the growth of the application modernization services market. The combination of containers, DevOps, and cloud storage will continue to support this growth.

Challenge: Vendor Lock-in and Platform Dependencies

Organizations that have committed their IT infrastructure around certain vendors or platforms struggle with vendor lock-in issues when it comes to upgrading their applications. There is loss of flexibility in application modernization, which increases the cost since the modernization process is dependent upon a single vendor technology’s stack. This only makes the challenge of modernization more pronounced, making it less attractive for organizations to modernization initiatives, especially for core solutions that require a total replacement.

For example, enterprises using AWS-specific services like Lambda or proprietary databases such as Amazon Aurora may face challenges when attempting to migrate to Azure or Google Cloud. Similarly, companies reliant on Microsoft Azure often encounter significant costs and complexities when transitioning workloads to another platform due to proprietary integration with tools like Power BI or Azure DevOps. Recent developments, such as the rise of multi-cloud strategies and open-source container orchestration platforms like Kubernetes, aim to mitigate vendor lock-in. These tools enable organizations to maintain flexibility, yet the technical barriers they address remain a key challenge slowing modernization adoption across industries that prioritize long-term autonomy and cost control.

Application modernization services market ecosystem

Application modernization services is the process of updating, transforming, or re-architecting legacy applications to newer technologies, frameworks, and infrastructures. These services enable organizations across various industries to transition their legacy systems to cloud-based platforms, resulting into high operational efficiency and cost reduction. The market for the application modernization services is huge and has strong growth potential majorly driven by increasing demand for cloud adoption, improved business agility, and technological advancements.

 

By service type, the Cloud Application Migration segment is expected to have the largest market size during the forecast period.

Cloud application migration is expected to hold the largest market size within the application modernization services market during the forecast period because of increasing demand from organizations to shift their legacy applications to cloud environments. Migration enables companies to make a scalable, efficient operations model, which reduces the cost of maintaining the outdated on- premises infrastructure. Meanwhile, hybrid cloud environments are coming to the fore as cloud adoption accelerates even faster, increasing the demand for greater business agility. All these drivers will push organizations toward focusing on cloud application migration as a modernization imperative. Tailored cloud migration solutions offered by cloud service providers are also on the rise as each cloud provider seeks a bigger share in this growing market by addressing the needs of specific industries. For example, the National Health Service (NHS) in the UK migrated critical applications to Microsoft Azure to improve operational efficiency and support its AI-driven health initiatives. Similarly, in the retail industry, companies like Walmart have leveraged Google Cloud’s AI and data analytics capabilities after migrating their legacy systems, enabling more personalized customer experiences and streamlined operations.

By vertical, Telecom segment is expected to hold a higher market share during the forecast period.

The telecom segment is expected to account for a large portion of the application modernization services market owing to the sector’s ongoing digitalization. Application modernization services help telecom operators to extend life of current applications, adopt new technologies and raise the efficiency of operations. This is because it is important to adopt IT infrastructure that is flexible to enhance and support the technological advancements such as 5G, cloud computing and the IoT among other things. In addition, telecom service providers are also focusing on these services as a means of enhancing customer satisfaction, improving the network and competing effectively in the market, thus consolidating their position within the industry.For example, Verizon has implemented a cloud-native 5G core network architecture to streamline its operations, improve network performance, and offer new services to customers. Similarly, Vodafone has partnered with AWS to modernize its legacy IT infrastructure and adopt advanced cloud services, supporting the roll-out of 5G and IoT-based applications. These initiatives highlight the growing trend of telecom operators investing in application modernization to stay competitive and enhance service delivery.

Asia Pacific region holds the largest share of the Application Modernization Services Market.

The application modernization services market in the forecast period is anticipated to grow at a higher pace in the Asia-Pacific region owing to digital transformation in the region, which is facilitated by the growing use of cloud computing and other emerging technologies as well as the quest for efficiency by business operations. There is an increase in IT spending and digital activities in the likes of China and India, and this creates a need for such services to modernize the aging management systems and incorporate new technologies. The growth of the sector is also enhanced by the efforts of global technology providers and the inflow of local enterprises which enhancing competition. The trend towards a population that is more technologically inclined is another major factor that is increasing the need for sophisticated and high-capacity application modernization services within the region.In India, the government’s Digital India initiative is promoting the adoption of digital technologies across sectors, encouraging enterprises to modernize infrastructure and integrate cloud solutions. In China, the government’s Made in China 2025 initiative supports the integration of advanced technologies like AI, cloud computing, and IoT into manufacturing and other key sectors, driving modernization efforts. The region’s growing enterprise base and technological advancements increase the need for modernized infrastructure, making application modernization a key priority for businesses seeking to stay competitive.

 
 

Recent Developments of Application Modernization Services Market

  • In August 2024, Capgemini signed an agreement to acquire Syniti, one of the leading companies in the enterprise data management software and services including platform and migration services. This acquisition will strengthen Capgemini’s data-driven solutions, especially for large-scale SAP transformations like the shift to SAP S/4HANA.
  • In June 2024, Oracle and Google Cloud announced a partnership in which Google Cloud will offer Oracle Cloud Infrastructure (OCI) database services and high-speed network interconnect with Oracle. This partnership will enable users to accelerate their application migrations and modernization.

Key Market Players

Key Players In The Application Modernization Services Market Include

  • Oracle (US)
  • IBM (US)
  • Microsoft (US)
  • HCL Technologies (India)
  • Accenture (Ireland)
  • ATOS SE (France)
  • AWS (US)
  • Capgemini (France)
  • Cognizant (US)
  • Tata Consultancy Services (India)
  • Aspire Systems (India)
  • NTT Data Group Corporation (Japan)
  • Infosys (India)
  • Dell Technologies (US)
  • Innova Solutions (US)
  • Epam Systems (US)
  • DXC Technology (US)
  • MongoDB (US)
  • LTIMindtree (India)
  • Wipro (India)
  • Rocket Software (US)
  • Fujitsu (Japan)
  • Hexaware Technologies (India)
  • Virtusa (US)
  • Softura (US)
  • CloudHedge (US)
  • D3V Technology (US)
  • Bayshore Intelligence (US)
  • Opinov8 (UK)
  • Icreon (US)
  • Symphony Solutions (Netherlands)
  • Cleveroad (Ukraine)
  • Soft Suave (India)
  • TechAhead (US)
  • Geomotiv (US)
  • PalmDigitalz (India)
  • AveriSource (US)

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Scope of the Report

Report Attribute Details
Market size available for years 2018-2029
Base year considered 2023
Forecast period 2024–2029
Forecast units Value (USD) Million/Billion
Segments Covered By Service Type, Application Type, and Vertical, and Region
Region covered North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered The major players in the Application Modernization Services market are Oracle (US), IBM (US), Microsoft (US), AWS (US), HCL Technologies (India), Accenture (Ireland), ATOS SE (France), Capgemini (France), Cognizant (US), Tata Consultancy Services (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), Epam Systems (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US) Geomotiv (US), PalmDigitalz (India), and AveriSource (US).

 

Key Questions Addressed by the Report

What is the definition of the application modernization services market?
Application modernization involves updating legacy applications by rehosting, re-platforming, rearchitecting, and migrating them to the cloud for scalability and alignment with current business needs.
What is the market size of the application modernization services market?
The market is estimated at USD 19.9 billion in 2024 and projected to reach USD 39.7 billion by 2029, with a CAGR of 14.9%.
What are the major drivers in the application modernization services market?
Key drivers include rising digital transformation initiatives, demand for cloud scalability, technological advancements, and compliance requirements.
Who are the key players operating in the application modernization services market?
Major players include Oracle, IBM, Microsoft, AWS (US), HCL Technologies, Accenture, Capgemini, Infosys, Wipro, and others globally.
What are the key technology trends prevailing in the application modernization services market?
Trends include Cloud Computing, Microservices, Containers and Kubernetes, DevOps, API Management, CI/CD, AI/ML, and Big Data Analytics.

 

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Table Of Contents

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TITLE
PAGE NO
INTRODUCTION
30
RESEARCH METHODOLOGY
36
EXECUTIVE SUMMARY
45
PREMIUM INSIGHTS
48
MARKET OVERVIEW AND INDUSTRY TRENDS
51
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Rise in digital transformation initiatives
    - Demand for flexibility and scalability through cloud computing
    - Rapid technological advancements
    - Shift toward modernization by cloud-native technologies
    - Stringent regulatory compliance and security
    RESTRAINTS
    - High costs and complexity
    - Legacy system dependencies
    OPPORTUNITIES
    - Proliferation of Kubernetes and containerization
    - Evolution of open standards for software development
    - Emerging markets and SMEs
    - Existence of large number of legacy applications
    CHALLENGES
    - Vendor lock-in and platform dependencies
    - Managing technical debt
  • 5.3 BRIEF HISTORY OF APPLICATION MODERNIZATION SERVICES
  • 5.4 ECOSYSTEM ANALYSIS
  • 5.5 CASE STUDY ANALYSIS
    MODERNIZATION OF ATRUVIA AG’S BANKING APPLICATION
    LEGACY SYSTEMS’ MODERNIZATION FOR BIOPHARMA BY HCL ON AWS
    APPLICATION MODERNIZATION FOR LEADING MEDICAL LABORATORY RESULTING IN BETTER ROI
    UNIPER ENERGY’S UK TRADING SOLUTIONS MODERNIZED BY INFOSYS
  • 5.6 SUPPLY CHAIN ANALYSIS
  • 5.7 REGULATORY LANDSCAPE
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    REGULATIONS
    - North America
    - Europe
    - Asia Pacific
    - Middle East & Africa
    - Latin America
  • 5.8 PRICING ANALYSIS
    AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SERVICE TYPE
    INDICATIVE PRICING ANALYSIS, BY SERVICE FEATURE
  • 5.9 PORTER’S FIVE FORCES ANALYSIS
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF BUYERS
    BARGAINING POWER OF SUPPLIERS
    INTENSITY OF COMPETITIVE RIVALRY
  • 5.10 TECHNOLOGY ANALYSIS
    KEY TECHNOLOGIES
    - Cloud platforms
    - Containerization
    - DevOps tools and CI/CD pipelines
    - Microservices architecture
    - API management platforms
    - Low-code/No-code platforms
    ADJACENT TECHNOLOGIES
    - Edge computing
    - 5G and Next-generation networks
    - Blockchain
    - Quantum computing
    - Augmented reality (AR) and virtual reality (VR)
    COMPLEMENTARY TECHNOLOGIES
    - AI/ML integration
    - Robotic process automation (RPA)
    - Identity and access management (IAM)
    - Data lakes and data warehousing
    - Enterprise service bus (ESB)
  • 5.11 PATENT ANALYSIS
  • 5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
  • 5.13 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
  • 5.14 KEY CONFERENCES AND EVENTS, 2024–2025
  • 5.15 TECHNOLOGY ROADMAP FOR APPLICATION MODERNIZATION SERVICES MARKET
    SHORT-TERM ROADMAP (2023–2025)
    MID-TERM ROADMAP (2026–2028)
    LONG-TERM ROADMAP (2029–2030)
  • 5.16 BEST PRACTICES IN APPLICATION MODERNIZATION SERVICES MARKET
    CONDUCT THOROUGH ASSESSMENT
    DEFINE CLEAR GOALS AND OBJECTIVES
    DEVELOP MODERNIZATION ROADMAP
    CHOOSE RIGHT MODERNIZATION APPROACH
    PRIORITIZE APPLICATIONS FOR MODERNIZATION
    OPTIMIZE FOR CLOUD
    ENSURE CONTINUOUS MONITORING AND OPTIMIZATION
    ENGAGE STAKEHOLDERS THROUGHOUT PROCESS
  • 5.17 CURRENT AND EMERGING BUSINESS MODELS
    PLATFORM-AS-A-SERVICE (PAAS)
    CONSULTATIVE SERVICES MODEL
    OUTCOME-BASED MODELS
    OPEN-SOURCE MODEL
    CO-DEVELOPMENT MODEL
    AUTOMATED MODELS
  • 5.18 APPLICATION MODERNIZATION SERVICE TOOLS, FRAMEWORKS, AND TECHNIQUES
  • 5.19 INVESTMENT AND FUNDING SCENARIO
  • 5.20 IMPACT OF ARTIFICIAL INTELLIGENCE (AI)/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES
    IMPACT OF AI/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES
    USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES
  • 5.21 7 ‘R’S OF APPLICATION MODERNIZATION
    REHOST
    RE-PLATFORM
    REFACTOR
    REVISE
    REBUILD
    REPLACE
    RETIRE
APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE
92
  • 6.1 INTRODUCTION
    SERVICE TYPE: MARKET DRIVERS
    APPLICATION PORTFOLIO ASSESSMENT
    - Need for strategic evaluation to streamline modernization paths to drive initial adoption of portfolio assessments
    CLOUD APPLICATION MIGRATION
    - Rapid adoption of cloud infrastructure to support these services as businesses seek scalability and cost-efficiency
    APPLICATION RE-PLATFORMING
    - Demand for performance optimization without complete rewrites
    APPLICATION INTEGRATION
    - Increase in complexity of hybrid environments to drive need for seamless application integration across cloud and legacy systems
    UI/UX MODERNIZATION
    - Growth in emphasis on user-centric digital experiences to sustain demand for UI/UX modernization
    POST-MODERNIZATION SERVICES
    - Ongoing need for support in maintaining modernized applications to ensure steady, albeit slower, growth of post-modernization services
APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE
102
  • 7.1 INTRODUCTION
    APPLICATION TYPE: MARKET DRIVERS
    LEGACY APPLICATIONS
    - Need to reduce operational costs of legacy applications and integrate with modern technologies; their dominance set to decline as businesses shift to cloud solutions
    CLOUD-HOSTED APPLICATIONS
    - Growth in demand for scalable and cost-efficient IT infrastructure to fuel adoption of cloud-hosted application modernization
    CLOUD-NATIVE APPLICATIONS
    - Push for innovation, scalability, and speed in digital transformation to drive rapid adoption of cloud-native applications
APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL
108
  • 8.1 INTRODUCTION
    VERTICAL: MARKET DRIVERS
  • 8.2 BFSI
    NEED FOR SECURE, SCALABLE, AND EFFICIENT FINANCIAL SERVICES
    BFSI: APPLICATION MODERNIZATION SERVICE USE CASES
    - Core banking system modernization
    - Claims processing overhaul
    - Digital customer portals
    - Real-time risk management
    - Payment gateway integration
  • 8.3 IT & ITES
    NEED FOR AGILE SERVICE DELIVERY AND TECHNOLOGICAL INTEGRATION
    IT & ITES: APPLICATION MODERNIZATION SERVICE USE CASES
    - ERP cloud migration
    - Unified IT management systems
    - Customer support systems modernization
    - Cloud-native software optimization
    - Hybrid cloud management systems
  • 8.4 HEALTHCARE & LIFE SCIENCES
    NEED FOR IMPROVED PATIENT CARE, DIGITAL HEALTH SOLUTIONS, AND EFFICIENT DATA MANAGEMENT
    HEALTHCARE & LIFE SCIENCES: APPLICATION MODERNIZATION SERVICE USE CASES
    - EHR cloud migration
    - Pharmaceutical research modernization
    - Health insurance claims
    - Telemedicine platforms
    - Medical device connectivity
  • 8.5 MANUFACTURING
    DRIVE TOWARD SMART FACTORIES AND REAL-TIME SUPPLY CHAIN OPTIMIZATION
    MANUFACTURING: APPLICATION MODERNIZATION SERVICE USE CASES
    - Smart factory implementations
    - Predictive maintenance solutions
    - Integrated supply chain management
    - Quality control enhancements
    - Collaborative robotics integration
  • 8.6 TELECOM
    RAPID GROWTH OF 5G NETWORKS AND DEMAND FOR ENHANCED SERVICE DELIVERY
    TELECOM: APPLICATION MODERNIZATION SERVICE USE CASES
    - 5G network management modernization
    - Cloud-based CRM systems
    - Billing system integration
    - Network automation
    - Self-service Portal modernization
  • 8.7 TRANSPORTATION & LOGISTICS
    DEMAND FOR REAL-TIME VISIBILITY AND OPERATIONAL EFFICIENCY
    TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICE USE CASES
    - Cloud-based fleet management systems
    - Integrated warehouse management
    - Enhanced shipping portals
    - Visibility and responsiveness improvements
    - Predictive analytics for demand forecasting
  • 8.8 MEDIA & ENTERTAINMENT
    NEED FOR INNOVATIVE CONTENT DELIVERY AND PERSONALIZED VIEWER EXPERIENCES
    MEDIA & ENTERTAINMENT: APPLICATION MODERNIZATION SERVICE USE CASES
    - Cloud-based Content Delivery Networks
    - Personalized User Experiences
    - Digital Asset Management Systems
    - Enhanced Audience Analytics
    - Integrated Marketing Solutions
  • 8.9 RETAIL & ECOMMERCE
    ADOPTION OF PERSONALIZED CUSTOMER EXPERIENCES AND STREAMLINED OPERATIONS
    RETAIL & ECOMMERCE: APPLICATION MODERNIZATION SERVICE USE CASES
    - Cloud-based inventory management
    - Customer loyalty program modernization
    - POS and eCommerce integration
    - Demand forecasting modernization
    - Scalable eCommerce platforms
  • 8.10 GOVERNMENT
    NEED FOR ENHANCED CITIZEN ENGAGEMENT AND EFFICIENT SERVICE DELIVERY
    GOVERNMENT: APPLICATION MODERNIZATION SERVICE USE CASES
    - Citizen services cloud migration
    - Document management system overhaul
    - Inter-agency communication integration
    - User-friendly public service apps
    - Disaster recovery planning
  • 8.11 OTHER VERTICALS
    OTHER VERTICALS: APPLICATION MODERNIZATION SERVICE USE CASES
    - Cloud-based booking systems
    - Personalized travel recommendations
    - Cloud-based student information systems
    - Interactive virtual classrooms
    - Adaptive learning platforms
APPLICATION MODERNIZATION SERVICES MARKET, BY REGION
127
  • 9.1 INTRODUCTION
  • 9.2 NORTH AMERICA
    NORTH AMERICA: MACROECONOMIC OUTLOOK
    US
    - Rise in prevalence of AI advancements, automation, and next-gen network technologies
    CANADA
    - Government-backed digital initiatives and cloud adoption to fuel modernization across public and private sectors
  • 9.3 EUROPE
    EUROPE: MACROECONOMIC OUTLOOK
    UK
    - Stringent regulations support adoption of application modernization services in UK
    GERMANY
    - Strong focus on Industry 4.0 and smart manufacturing and need for advanced networking solutions
    FRANCE
    - Increased demand for digital services and automation to boost modernization across sectors
    ITALY
    - Transformation of legacy infrastructure, particularly in finance and telecom
    SPAIN
    - Fast-paced digital transformation environment to push modernization across verticals such as retail and government
    NORDICS
    - Strong cloud-native adoption and focus on digital-first strategies to lead modernization efforts
    REST OF EUROPE
  • 9.4 ASIA PACIFIC
    ASIA PACIFIC: MACROECONOMIC OUTLOOK
    CHINA
    - Significant investments by key players and need for rapid development and adoption of new technologies
    JAPAN
    - Increase in adoption of advanced technologies and integration with AI and automation
    INDIA
    - Growing focus on cloud and network connectivity powered by AI technology
    AUSTRALIA & NEW ZEALAND
    - Stricter data protection regulations to influence development of secure solutions
    SOUTH KOREA
    - Heavy investments by businesses and governments toward digital transformation
    SOUTHEAST ASIA
    - Adoption of cloud-native solutions to act as primary driver of modernization across industries
    REST OF ASIA PACIFIC
  • 9.5 MIDDLE EAST & AFRICA
    MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK
    - MIDDLE EAST
    - UAE
    - KSA
    - Kuwait
    - Bahrain
    - Rest of the Middle East
    AFRICA
    - Growing need for digital infrastructure and modernized telecom and financial systems
  • 9.6 LATIN AMERICA
    LATIN AMERICA: MACROECONOMIC OUTLOOK
    BRAZIL
    - Ongoing investments in telecom infrastructure and modernization projects
    MEXICO
    - Shift toward cloud modernization in public and financial sectors
    REST OF LATIN AMERICA
COMPETITIVE LANDSCAPE
179
  • 10.1 INTRODUCTION
  • 10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
  • 10.3 REVENUE ANALYSIS
  • 10.4 MARKET SHARE ANALYSIS
    MARKET RANKING ANALYSIS
  • 10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
    STARS
    EMERGING LEADERS
    PERVASIVE PLAYERS
    PARTICIPANTS
    COMPANY FOOTPRINT: KEY PLAYERS, 2023
    - Company footprint
    - Service type footprint
    - Application type footprint
    - Vertical footprint
    - Regional footprint
  • 10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
    - Key startups/SMEs
    - Competitive benchmarking of key startups/SMEs
  • 10.7 COMPANY VALUATION AND FINANCIAL METRICS
  • 10.8 BRAND/PRODUCT COMPARISON
  • 10.9 COMPETITIVE SCENARIO AND TRENDS
    PRODUCT LAUNCHES
    DEALS
COMPANY PROFILES
205
  • 11.1 KEY PLAYERS
    IBM
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    MICROSOFT
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    HCL TECHNOLOGIES
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    ACCENTURE
    - Business overview
    - Platforms/Solutions/Services offered
    - Recent developments
    - MnM view
    AWS
    - Business and Financial Overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    ATOS
    - Business overview
    - Recent developments
    - MnM view
    CAPGEMINI
    - Business overview
    - Platforms/Solutions/Services offered
    - Recent developments
    - MnM view
    ORACLE
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    COGNIZANT
    - Business overview
    - Platforms/Solutions/Services offered
    - Recent developments
    TCS
    - Business overview
    - Platforms/Solutions/Services offered
    - Recent developments
    INNOVA SOLUTIONS
    EPAM SYSTEMS
    ASPIRE SYSTEMS
    NTT DATA
    DELL TECHNOLOGIES
    DXC TECHNOLOGY
    LTIMINDTREE
    INFOSYS
    - Business and Financial Overview
    - Recent developments
    WIPRO
    ROCKET SOFTWARE, INC.
    FUJITSU
    HEXAWARE TECHNOLOGIES
    VIRTUSA
    MONGODB
  • 11.2 STARTUPS/SMES
    SOFTURA
    CLOUDHEDGE TECHNOLOGIES PVT. LTD.
    D3V TECHNOLOGY
    BAYSHORE INTELLIGENCE SOLUTIONS
    OPINOV8
    ICREON
    SYMPHONY SOLUTIONS
    CLEVEROAD
    TECHAHEAD
    GEOMOTIV
    SOFT SUAVE
    PALMDIGITALZ
    AVERISOURCE
ADJACENT/RELATED MARKETS
292
  • 12.1 INTRODUCTION
    RELATED MARKETS
  • 12.2 CLOUD PROFESSIONAL SERVICES MARKET
    MARKET DEFINITION
  • 12.3 SYSTEM INTEGRATION SERVICES MARKET
    MARKET DEFINITION
APPENDIX
300
  • 13.1 DISCUSSION GUIDE
  • 13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
  • 13.3 CUSTOMIZATION OPTIONS
  • 13.4 RELATED REPORTS
  • 13.5 AUTHOR DETAILS
LIST OF TABLES
 
  • TABLE 1 USD EXCHANGE RATES, 2019–2023
  • TABLE 2 APPLICATION MODERNIZATION SERVICES MARKET: ECOSYSTEM
  • TABLE 3 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 4 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 5 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 6 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • TABLE 7 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE
  • TABLE 8 INDICATIVE PRICING LEVELS OF APPLICATION MODERNIZATION SERVICES
  • TABLE 9 PORTER’S FIVE FORCES IMPACT ON APPLICATION MODERNIZATION SERVICES MARKET
  • TABLE 10 LIST OF KEY PATENTS
  • TABLE 11 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
  • TABLE 12 KEY BUYING CRITERIA FOR TOP THREE END USERS
  • TABLE 13 MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2024–2025
  • TABLE 14 MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 15 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 16 APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 17 APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 18 CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 19 CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 20 APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 21 APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 22 APPLICATION INTEGRATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 23 APPLICATION INTEGRATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 24 UI/UX MODERNIZATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 25 UI/UX MODERNIZATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 26 POST-MODERNIZATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 27 POST-MODERNIZATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 28 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 29 MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 30 LEGACY MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 31 LEGACY MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 32 CLOUD-HOSTED MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 33 CLOUD-HOSTED MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 34 CLOUD-NATIVE MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 35 CLOUD-NATIVE MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 36 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 37 MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 38 MARKET IN BFSI, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 39 MARKET IN BFSI, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 40 MARKET IN IT & ITES, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 41 MARKET IN IT & ITES, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 42 MARKET IN HEALTHCARE & LIFE SCIENCES, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 43 MARKET IN HEALTHCARE & LIFE SCIENCES, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 44 MARKET IN MANUFACTURING, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 45 MARKET IN MANUFACTURING, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 46 MARKET IN TELECOM, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 47 MARKET IN TELECOM, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 48 TRANSPORTATION & LOGISTICS: MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 49 TRANSPORTATION & LOGISTICS: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 50 APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 51 MARKET IN MEDIA & ENTERTAINMENT, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 52 MARKET IN RETAIL & ECOMMERCE, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 53 MARKET IN RETAIL & ECOMMERCE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 54 MARKET IN GOVERNMENT, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 55 MARKET IN GOVERNMENT, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 56 MARKET IN OTHER VERTICALS, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 57 MARKET IN OTHER VERTICALS, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 58 MARKET, BY REGION, 2018–2023 (USD MILLION)
  • TABLE 59 MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 60 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 61 NORTH AMERICA: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 62 NORTH AMERICA: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 63 NORTH AMERICA: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 64 NORTH AMERICA: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 65 NORTH AMERICA: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 66 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2023 (USD MILLION)
  • TABLE 67 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 68 US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 69 US: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 70 US: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 71 US: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 72 US: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 73 US: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 74 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 75 CANADA: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 76 CANADA: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 77 CANADA: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 78 CANADA: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 79 CANADA: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 80 EUROPE: MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 81 EUROPE: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 82 EUROPE: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 83 EUROPE: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 84 EUROPE: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 85 EUROPE: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 86 EUROPE: MARKET, BY COUNTRY/SUBREGION, 2018–2023 (USD MILLION)
  • TABLE 87 EUROPE: MARKET, BY COUNTRY/SUBREGION, 2024–2029 (USD MILLION)
  • TABLE 88 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 89 UK: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 90 UK: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 91 UK: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 92 UK: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 93 UK: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 94 ASIA PACIFIC: MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 95 ASIA PACIFIC: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 96 ASIA PACIFIC: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 97 ASIA PACIFIC: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 98 ASIA PACIFIC: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 99 ASIA PACIFIC: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 100 ASIA PACIFIC: MARKET, BY COUNTRY/SUBREGION, 2018–2023 (USD MILLION)
  • TABLE 101 ASIA PACIFIC: MARKET, BY COUNTRY/SUBREGION, 2024–2029 (USD MILLION)
  • TABLE 102 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 103 CHINA: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 104 CHINA: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 105 CHINA: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 106 CHINA: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 107 CHINA: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 108 MIDDLE EAST & AFRICA: MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 109 MIDDLE EAST & AFRICA: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 110 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 111 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 112 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 113 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 114 MIDDLE EAST & AFRICA: MARKET, BY SUBREGION, 2018–2023 (USD MILLION)
  • TABLE 115 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SUBREGION, 2024–2029 (USD MILLION)
  • TABLE 116 MIDDLE EAST: MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 117 MIDDLE EAST: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 118 MIDDLE EAST: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 119 MIDDLE EAST: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 120 MIDDLE EAST: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 121 MIDDLE EAST: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 122 MIDDLE EAST: MARKET, BY COUNTRY, 2018–2023 (USD MILLION)
  • TABLE 123 MIDDLE EAST: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 124 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 125 UAE: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 126 UAE: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 127 UAE: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 128 UAE: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 129 UAE: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 130 LATIN AMERICA: MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 131 LATIN AMERICA: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 132 LATIN AMERICA: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 133 LATIN AMERICA: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 134 LATIN AMERICA: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 135 LATIN AMERICA: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 136 LATIN AMERICA: MARKET, BY COUNTRY, 2018–2023 (USD MILLION)
  • TABLE 137 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 138 BRAZIL: MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION)
  • TABLE 139 BRAZIL: MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION)
  • TABLE 140 BRAZIL: MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION)
  • TABLE 141 BRAZIL: MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION)
  • TABLE 142 BRAZIL: MARKET, BY VERTICAL, 2018–2023 (USD MILLION)
  • TABLE 143 BRAZIL: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 144 OVERVIEW OF STRATEGIES ADOPTED BY KEY APPLICATION MODERNIZATION SERVICES PLAYERS
  • TABLE 145 MARKET: DEGREE OF COMPETITION
  • TABLE 146 SERVICE TYPE FOOTPRINT, 2023
  • TABLE 147 APPLICATION TYPE FOOTPRINT, 2023
  • TABLE 148 VERTICAL FOOTPRINT, 2023
  • TABLE 149 REGIONAL FOOTPRINT, 2023
  • TABLE 150 MARKET: KEY STARTUPS/SMES, 2023
  • TABLE 151 MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES, 2023
  • TABLE 152 MARKET: PRODUCT LAUNCHES, JANUARY 2022–AUGUST 2024
  • TABLE 153 APPLICATION MODERNIZATION SERVICES MARKET: DEALS, JANUARY 2022–AUGUST 2024
  • TABLE 154 IBM: COMPANY OVERVIEW
  • TABLE 155 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 156 IBM: PRODUCT LAUNCHES
  • TABLE 157 IBM: DEALS
  • TABLE 158 MICROSOFT: COMPANY OVERVIEW
  • TABLE 159 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 160 MICROSOFT: PRODUCT LAUNCHES
  • TABLE 161 MICROSOFT: DEALS
  • TABLE 162 HCL TECHNOLOGIES: COMPANY OVERVIEW
  • TABLE 163 HCL TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 164 HCL TECHNOLOGIES: PRODUCT LAUNCHES
  • TABLE 165 HCL TECHNOLOGIES: DEALS
  • TABLE 166 ACCENTURE: COMPANY OVERVIEW
  • TABLE 167 ACCENTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 168 ACCENTURE: PRODUCT LAUNCHES
  • TABLE 169 ACCENTURE: DEALS
  • TABLE 170 AWS: COMPANY OVERVIEW
  • TABLE 171 AWS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 172 AWS: PRODUCT LAUNCHES
  • TABLE 173 AWS: DEALS
  • TABLE 174 ATOS: COMPANY OVERVIEW
  • TABLE 175 ATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 176 ATOS: PRODUCT LAUNCHES
  • TABLE 177 ATOS: DEALS
  • TABLE 178 CAPGEMINI: COMPANY OVERVIEW
  • TABLE 179 CAPGEMINI: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 180 CAPGEMINI: PRODUCT LAUNCHES
  • TABLE 181 CAPGEMINI: DEALS
  • TABLE 182 ORACLE: COMPANY OVERVIEW
  • TABLE 183 ORACLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 184 ORACLE: PRODUCT LAUNCHES
  • TABLE 185 ORACLE: DEALS
  • TABLE 186 COGNIZANT: COMPANY OVERVIEW
  • TABLE 187 COGNIZANT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 188 COGNIZANT: PRODUCT LAUNCHES
  • TABLE 189 COGNIZANT: DEALS
  • TABLE 190 TCS: COMPANY OVERVIEW
  • TABLE 191 TCS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 192 TCS: PRODUCT LAUNCHES
  • TABLE 193 TCS: DEALS
  • TABLE 194 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE TYPE, 2019–2022 (USD MILLION)
  • TABLE 195 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
  • TABLE 196 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE MODEL, 2019–2022 (USD MILLION)
  • TABLE 197 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE MODEL, 2023–2028 (USD MILLION)
  • TABLE 198 CLOUD PROFESSIONAL SERVICES MARKET, BY DEPLOYMENT MODEL, 2019–2022 (USD MILLION)
  • TABLE 199 CLOUD PROFESSIONAL SERVICES MARKET, BY DEPLOYMENT MODEL, 2023–2028 (USD MILLION)
  • TABLE 200 CLOUD PROFESSIONAL SERVICES MARKET, BY ORGANIZATION SIZE, 2019–2022 (USD MILLION)
  • TABLE 201 CLOUD PROFESSIONAL SERVICES MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
  • TABLE 202 CLOUD PROFESSIONAL SERVICES MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
  • TABLE 203 CLOUD PROFESSIONAL SERVICES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 204 CLOUD PROFESSIONAL SERVICES MARKET, BY REGION, 2019–2022 (USD MILLION)
  • TABLE 205 CLOUD PROFESSIONAL SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
  • TABLE 206 SYSTEM INTEGRATION SERVICES MARKET, BY SERVICE TYPE, 2017–2022 (USD MILLION)
  • TABLE 207 SYSTEM INTEGRATION SERVICES MARKET, BY SERVICE TYPE, 2023–2028 (USD MILLION)
  • TABLE 208 SYSTEM INTEGRATION SERVICES MARKET, BY VERTICAL, 2017–2022 (USD MILLION)
  • TABLE 209 SYSTEM INTEGRATION SERVICES MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
  • TABLE 210 SYSTEM INTEGRATION SERVICES MARKET, BY REGION, 2017–2022 (USD MILLION)
  • TABLE 211 SYSTEM INTEGRATION SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
LIST OF FIGURES
 
  • FIGURE 1 MARKET SEGMENTATION
  • FIGURE 2 APPLICATION MODERNIZATION SERVICES MARKET: RESEARCH DESIGN
  • FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION, AND REGION
  • FIGURE 4 KEY INDUSTRY INSIGHTS
  • FIGURE 5 APPLICATION MODERNIZATION SERVICES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
  • FIGURE 6 APPROACH 1 (SUPPLY SIDE): REVENUE OF VENDORS IN MARKET
  • FIGURE 7 APPROACH 2 (DEMAND SIDE): MARKET
  • FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS
  • FIGURE 9 MARKET SIZE ESTIMATION USING BOTTOM-UP APPROACH
  • FIGURE 10 DATA TRIANGULATION
  • FIGURE 11 MARKET, 2022–2029 (USD MILLION)
  • FIGURE 12 APPLICATION MODERNIZATION SERVICES MARKET OVERVIEW, BY REGION, 2024
  • FIGURE 13 RAPID ADOPTION OF CLOUD TECHNOLOGIES AND NEED FOR OPERATIONAL AGILITY TO DRIVE MARKET GROWTH
  • FIGURE 14 CLOUD APPLICATION MIGRATION SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
  • FIGURE 15 CLOUD-HOSTED APPLICATIONS TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 16 BFSI VERTICAL TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
  • FIGURE 17 CLOUD APPLICATION MIGRATION AND TELECOM SEGMENTS TO ACCOUNT FOR SIGNIFICANT MARKET SHARES IN 2024
  • FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: MARKET
  • FIGURE 19 EVOLUTION OF APPLICATION MODERNIZATION SERVICES
  • FIGURE 20 KEY PLAYERS IN MARKET ECOSYSTEM
  • FIGURE 21 MARKET: SUPPLY CHAIN ANALYSIS
  • FIGURE 22 AVERAGE SELLING PRICES OF KEY PLAYERS, BY SERVICE TYPE (USD)
  • FIGURE 23 APPLICATION MODERNIZATION SERVICES MARKET: PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 24 PATENT ANALYSIS FOR APPLICATION MODERNIZATION SERVICES, 2013–2023
  • FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
  • FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
  • FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE END USERS
  • FIGURE 28 APPLICATION MODERNIZATION SERVICE TOOLS, FRAMEWORKS, AND TECHNIQUES
  • FIGURE 29 INVESTMENT AND FUNDING SCENARIO, 2022–2024 (USD MILLION)
  • FIGURE 30 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES
  • FIGURE 31 CLOUD APPLICATION MIGRATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 32 CLOUD-NATIVE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 33 TELECOM SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
  • FIGURE 34 NORTH AMERICA: MARKET SNAPSHOT
  • FIGURE 35 ASIA PACIFIC: MARKET SNAPSHOT
  • FIGURE 36 REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 (USD MILLION)
  • FIGURE 37 SHARE OF LEADING COMPANIES IN APPLICATION MODERNIZATION SERVICES MARKET, 2023
  • FIGURE 38 MARKET RANKING ANALYSIS OF TOP FIVE PLAYERS
  • FIGURE 39 APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
  • FIGURE 40 COMPANY FOOTPRINT, 2023
  • FIGURE 41 APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
  • FIGURE 42 FINANCIAL METRICS OF KEY APPLICATION MODERNIZATION SERVICES VENDORS, 2024
  • FIGURE 43 COMPANY VALUATION OF KEY APPLICATION MODERNIZATION SERVICES VENDORS, 2024 (USD BILLION)
  • FIGURE 44 BRAND/PRODUCT COMPARISON
  • FIGURE 45 IBM: COMPANY SNAPSHOT
  • FIGURE 46 MICROSOFT: COMPANY SNAPSHOT
  • FIGURE 47 HCL TECHNOLOGIES: COMPANY SNAPSHOT
  • FIGURE 48 ACCENTURE: COMPANY SNAPSHOT
  • FIGURE 49 AWS: COMPANY SNAPSHOT
  • FIGURE 50 ATOS: COMPANY SNAPSHOT
  • FIGURE 51 CAPGEMINI: COMPANY SNAPSHOT
  • FIGURE 52 ORACLE: COMPANY SNAPSHOT
  • FIGURE 53 COGNIZANT: COMPANY SNAPSHOT
  • FIGURE 54 TCS: COMPANY SNAPSHOT

 

This research study involved the extensive use of secondary sources, directories, and databases, such as Dun & Bradstreet (D&B) Hoovers and Bloomberg BusinessWeek, to identify and collect information useful for a technical, market-oriented, and commercial study of the application modernization services market. The primary sources have been mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of the value chain of this market. In-depth interviews have been conducted with various primary respondents, including key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information.

Secondary Research

In the secondary research process, various secondary sources were referred to identify and collect information for the study. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, certified publications, and articles from recognized associations and government publishing sources. Several journals and associations, such as the application modernization services associations/forums, Cloud Native Computing Foundation (CNCF), Open Mainframe Project, Open Mainframe Project, were also referred to. Secondary research was used to obtain key information about industry insights, the market’s monetary chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both the market and technology-oriented perspectives.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Chief Technology Officers (CTOs), Chief Operating Officers (COOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the application modernization services market. The primary sources from the demand side included application modernization services end users, consultants/specialists, Chief Information Officers (CIOs), and subject-matter experts from enterprises and government associations.

Application Modernization Services Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Multiple approaches were adopted to estimate and forecast the size of the application modernization services market. The first approach involves estimating market size by summing up the revenue generated by companies through the sale of application modernization services.

Both top-down and bottom-up approaches were used to estimate and validate the total size of the application modernization services market. These methods were extensively used to estimate the size of various segments in the market. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research.
  • In terms of value, the industry’s supply chain and market size have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakups have been determined using secondary sources and verified through primary sources.

Application modernization services market Size: Bottom-Up Approach<

Application Modernization Services Market Bottom Up Approach

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Application modernization services market Size: Top-Down Approach

Application Modernization Services Market Top Down Approach

Data Triangulation

After arriving at the overall market size, the application modernization services market was divided into several segments and subsegments. A data triangulation procedure was used to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.

Market Definition

Application modernization is the process of modernizing legacy applications by rehosting, re-platforming, rearchitecting, and migrating them to the cloud with the help of the latest technologies and frameworks for ensuring compatibility and upgrading with technological advancements. It enables organizations to achieve developer efficiency, scalability, and alignment of applications with current business needs.

VMware defines application modernization, also known as legacy modernization or legacy application modernization, as the practice of updating older software for newer computing approaches, including newer languages, frameworks, and infrastructure platforms.

Cognizant defines application modernization is the process of updating legacy applications to scalable, cloud-native app environments using modern technology stacks. This process allows applications to meet modern user expectations as they evolve.

Key Stakeholders

  • Application Modernization Service Providers
  • Cloud Service Providers (CSPs)
  • Independent Software Vendors (ISVs)
  • System Integrators
  • Enterprises/Businesses
  • Technology Consultants
  • Regulatory Bodies
  • Cloud-Native Development Communities
  • Managed Service Providers (MSPs)
  • DevOps Teams
  • Data Security Providers
  • Open-Source Software Communities
  • API Management Solution Providers
  • Infrastructure Vendors
  • AI and Automation Solution Providers
  • Network and Connectivity Providers
  • Middleware and Integration Tool Vendors
  • Platform-as-a-Service (PaaS) Providers

Report Objectives

  • To determine, segment, and forecast the application modernization services market based on service type (application portfolio assessment, cloud application migration, application re-platforming, application integration, UI/UX modernization, and post-modernization), application type, vertical, and region in terms of value
  • To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To study the complete value chain and related industry segments and perform a value chain analysis of the market landscape
  • To strategically analyze the macro and micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To analyze the industry trends, pricing data, patents, and innovations related to the market
  • To analyze the opportunities for stakeholders by identifying the high-growth segments of the market
  • To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies2
  • To track and analyze competitive developments, such as mergers & acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and R&D activities

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Country-wise information

  • Analysis for additional countries (up to five)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Previous Versions of this Report

Application Modernization Services Market by Service Type (Application Portfolio Assessment, Cloud application Migration, Application Re-platforming), Cloud Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027

Report Code TC 5645
Published in Feb, 2023, By MarketsandMarkets™

Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming), Cloud Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025

Report Code TC 5645
Published in Jul, 2020, By MarketsandMarkets™

Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming), Cloud Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025

Report Code TC 5645
Published in Oct, 2017, By MarketsandMarkets™

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