The global Application Modernization Services Market is expected to grow from USD 11.4 billion in 2020 to USD 24.8 billion by 2025 at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period. Major factors driving the growth of the market are the rising demand for cloud services, large scale migration of workloads to cloud-based and Service Oriented Structure (SOA), rising focus transforming and modernizing legacy systems, and rise in demand for modern infrastructure to ensure business continuity.
By service, the application re-platforming segment to hold the largest market size during the forecast period
The application re-platforming segment to hold the largest market size during the forecast period. Application re-platforming as re-platforming offers faster application delivery and time-to-market, along with flexibility, scalability, faster networking speeds, and reduced TCO. To keep up with rapid technology evolution and the demands of current markets, large organizations are urged to adopt modernization services for their legacy systems, thereby increasing the demand for application migration to cloud and leading re-platforming services to grow.
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By cloud deployment mode, hybrid cloud segment to grow at the highest rate during the forecast period
With rapid demand for applications that can reside on different cloud infrastructures with the help of new technologies such as containerization and microservices, has helped increase demand for hybrid cloud infrastructure. It is a must to assess the movement of applications to hybrid cloud, wherein the best of both private and public cloud features can be utilized. Thereby, growing the requirement for hybrid cloud services at a fast pace.
Some major players profiled in the report are Accenture (Ireland), IBM (US), Atos (France), HCL (India), Capgemini (France), Bell Integrator (US), Blu Age (France), Cognizant (US), Aspire Systems (India), Dell (US), DXC Technology (US), EPAM Systems (US), Fujitsu (Japan), Hexaware (India), Infosys (India), Innova Solutions (US), LTI (US), Microfocus (UK), MongoDB (US), NTT Data (Japan), Oracle (US), Softura (US), TCS (India), Virtusa (US), and Wipro (India).
The application modernization services market is growing across the globe with key industry players undergoing various organic and inorganic growth strategies. The key players have undergone acquisitions and mergers to grow their product portfolios in offering efficient services to customers across various industries. The organizations have realized the benefits of moving their workloads to cloud and flexibility and scalability offered by cloud based applications, leading to drive the growth of application modernization services market.
In the application modernization services market, IBM (US) offers a wide range of services through its platform, IBM Garage. The platform is a center for high-impact client-centric innovation. It supports modernization approaches to the legacy application transformation strategy for various organizations. IBM’s services in the application modernization portfolio include application readiness assessment, refactoring, repackaging, re-platforming through containerization and DevOps pipelines, application cloud migration, and post-modernization services such as application decommissioning.
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Accenture’s (Ireland) service-oriented offerings include strategic assessment of businesses for the modernization of their legacy systems and business logic extraction through processes such as business rules mining, software vulnerabilities remediation, application re-platforming, and application migration. With these services, the company is renowned for offering application modernization services. Accenture partnered with Apple to cater to the demand for enterprise mobility solutions from customers. As per the partnership, Accenture would utilize iOS capabilities such as reliability, simplicity, and security for its digital transformation, thereby enabling the migration of legacy applications to modern iOS apps
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