Market Insights
Application modernization is crucial service which manages legacy applications and transforms them to become more agile and highly efficient allowing for high performance. Market Research Future has predicted that the global application modernization services market is expected to reach USD 20 billiob by 2023, and a substantial CAGR of 21% during the forecast period of 2017 to 2023.
The growing need for integration of the latest functionalities so as to keep businesses up to date. In order to keep up with changing whims of customers, businesses are using application modernization services to develop innovative sysytems that use new processes and delivery models. Increasing investments in these services from SMEs is expected to propel growth. Additionally, companies are increasingly adopting CRM, ERP and human resource management services to improve over all efficiency.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/5541
High invesments in implementations of application modernization services and the lack of appropriately skilled resources pose challenges for the market. However, due to the high adoption rate, and the significant oppurtunity available for growth in the future is likely to propel the market during the forecast period of 2017 to 2023.
Key Players:
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.).
Some other vendors include Apps Associates LLC (U.S.), NTT DATA, Inc (U.S.), BDO IT Solution (Canada), Asysco Software B.V (The Netherlands), Micro Focus International Plc (U.K), Macrosoft Inc (U.S.), IBM Corporation (U.S.), Cognizant Technology Solutions Corp (U.S.), Capgemini SE (France), Cyber Infrastructure Pvt. Ltd (India), Wipro Limited (India), Dell Inc (U.S.), DSRC Private Limited (India)
Market Segmentation
The global application modernization services market has been segmented on the basis of industry vertical, organization size, type, and lastly, region. Based on industry vertical, this market has been segmented into banking & financial services and insurance (BFSI), government, Information Technology (IT) & Telecom, healthcare, manufacturing, media & entertainment, retail, and others. On the basis of organization size, the market has been segmented into small and medium enterprises. By type, the market has been segmented into application integration, application portfolio assessment, application re-platforming, cloud application migration, post-modernization, and user interface modernization.
Regional Analysis
The regional segmentation of the global application modernization services market segments the market into the continent-based regional markets namely North America, Europe, Asia Pacific and rest of the world (RoW). According to the report, the biggest regional market is in North America, and it will retain its crown during the forecast period. North America has the highest technological advancement, faster implementation of cloud services, and the fastest internet that can boost the market growth. In this region, the key country-specific markets are the United States of America (USA), Canada, and Mexico.
After North America, Europe has the highest technological advancement. And its population is more than North America. Therefore, it is an important market. The most important country-specific markets in this region are France, Germany, and the United Kingdom (UK). During the forecast period, the Asia Pacific is likely to witness the highest growth rate due to many existing and emerging enterprises in India which is one of the leading hubs for IT services and solutions. Therefore, many Indian enterprises are also providing application modernization services in and outside the country. Other significant country-specific markets in this region are China and Japan, followed by the rest of the Asia Pacific region.
RoW segment covers Latin America and Middle East & Africa (MEA) region. In Latin America, the market may not be as big as North America, but it is stable. The stable economies in this region that have the potential to emerge as lucrative markets are Argentina and Brazil. In the MEA region, the market is small and limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability.
Get Complete Report @ https://www.marketresearchfuture.com/reports/application-modernization-services-market-5541
Latest Industry News
The General Services Administration (GSA), has issued a notice seeking contractors for application moderniazation services. The GSA is looking to upgrade the payroll systems which serve over 2 million civilian federal employees. GSA hopes to shift it’s operations and maintenence of payroll functions , work schedule and leave managment systems to an innovative commercial solutions by using Software as a Service (SaaS).
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/application-modernization-services-market-5541