Application Transformation Market

Application Transformation Market by Service (Cloud Application Migration, Application Replatforming, Application Integration), Organization Size, Vertical (Retail, IT & Telecom, Government, Healthcare, Manufacturing), and Region - Global Forecast to 2024

Report Code: TC 7144 Jun, 2019, by marketsandmarkets.com

[114 Pages Report] The global application transformation market size to grow from USD 9.7 billion in 2019 to USD 16.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.6% during 2019–2024. The emergence of cloud and big data technologies has taken the transformation process to a new and advanced level. The enterprises are striving to achieve a competitive advantage, which can be achieved with the application transformation process in place. The constant need to be updated with new technologies and enhance the Return on Investment (ROI) requires a scientific approach and agile methodology to mitigate the key risks and challenges involved in the existing legacy applications. These factors are expected to drive the global application transformation market.

Application Transformation Market

Application integration service to hold the largest market size during the forecast period

Application integration is the process of integrating one or more application programs’ data or processes with other application programs. The existing legacy applications can be integrated into new applications, which leverage the internet, eCommerce, extranet, and other new technologies. Application integration assists in the maintenance and presentation of the data in various application systems, which are synchronized. It can connect to backend application systems to retrieve and insert data. Application integration is necessary for organizations to optimize their IT landscapes, gain business agility, and easily access data from devices and social channels.

Retail segment to hold the largest market size during the forecast period

The retail vertical is going through a major transforming phase. Retailers are modernizing their brick-and-mortar stores to provide better services to their customers. Moreover, most of the retail stores are going online to increase their revenue. Retailers are adopting more innovative technologies, such as cloud computing, big data analytics, digital stores, and social networks, to increase their visibility and presence in the market. The industry is adopting an omnichannel strategy to provide a seamless experience to its customers. For this, retailers are migrating their application landscapes toward a more flexible and scalable platform to bring efficiencies and optimize their operating costs.

Application Transformation Market

North America to hold the largest market size during the forecast period

North America comprises developed countries, such as the US and Canada. These countries have invested significantly in Research and Development (R&D) activities, thereby contributing to the development of innovative technologies. The application transformation market in North America is highly competitive, as countries such as the US and Canada are focused on R&D and innovation. These countries are early adopters of technologies in various verticals. The US and Canada are also the leading countries in retail, financial services, banking, and other industries, such as transportation and manufacturing. The US is expected to have the highest market share among all the countries in the market during the forecast period. It is a technologically advanced country with strong regulations for various verticals.

Key Application Transformation Market Players

Major vendors in the application transformation market include Atos (France), Tech Mahindra (India), Fujitsu (Japan), HCL (India), Cognizant (US), Pivotal Software (US), Accenture (Ireland), IBM (US), TCS (India), Asysco (Netherlands), Unisys (US), Hexaware (India), Oracle (US), Micro Focus (UK), Bell Integrator (US), and Macrosoft (US).

Scope of the report:

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD)

Segments covered

Services (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming, Application Integration, UI Modernization, and Post-Modernization), Organization Size (SMBs and Large Enterprises), Vertical (Banking, Financial Services, and Insurance (BFSI), Healthcare, Information Technology (IT) and Telecom , Retail, Government, Manufacturing, and Others (automotive, education, travel and transportation), and Region

Geographies covered

North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America

Companies covered

Atos (France), Tech Mahindra (India), Fujitsu (Japan), HCL (India), Cognizant (US), Pivotal Software (US), Accenture (Ireland), IBM (US) among others. A total of 15 players covered.

This research report categorizes the application transformation market based on the payment method, vertical, and region.

By Services:

  • Application Portfolio Assessment
  • Cloud Application Migration
  • Application Replatforming
  • Application Integration
  • UI Modernization
  • Post-Modernization

By Vertical:

  • Retail
  • BFSI
  • Healthcare
  • IT and Telecom
  • Retail
  • Government
  • Manufacturing
  • Others (automotive, education, travel and transportation)

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments:

  • In April 2019, Atos partnered with CloudBees at Google Cloud Next ‘19 to offer a joint solution to help customers modernize their application development practices on Google Cloud Platform (GCP).

    Key questions addressed by the report:

    • Where would all these developments take the industry in the mid to long term?
    • What are the upcoming industry solutions for the application transformation market?
    • Which are the major factors expected to drive the market?
    • Which region would offer high growth for vendors in the market?
    • Which servive would gain the highest market share in the market?

    To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Competitive Leadership Mapping Methodology
    2.6 Assumptions for the Study
    2.7 Limitations of the Study

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in the Application Transformation Market
    4.2 Global Market Share of Top 2 Services and Regions
    4.3 Market By Region
    4.4 Market Investment Scenario

5 Market Overview and Industry Trends (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Need for A Robust and Agile Environment to Increase Scalability and Efficiency in the Existing Business Landscape
                    5.2.1.2 High Maintenance Cost of Existing Legacy Applications
                    5.2.1.3 Leveraging Emerging Technologies and Increasing Efficiencies of Existing Applications
           5.2.2 Restraints
                    5.2.2.1 Complexity of Legacy Systems
           5.2.3 Opportunities
                    5.2.3.1 Modernization of Legacy Systems Offering Revenue Opportunities
                    5.2.3.2 Digital Transformation Driving Application Transformation
           5.2.4 Challenges
                    5.2.4.1 Long Planning Process and Time Investment Required for Application Transformation
    5.3 Use Cases
           5.3.1 Fujitsu
           5.3.2 Tech Mahindra
           5.3.3 Atos
           5.3.4 Micro Focus
           5.3.5 HCL
           5.3.6 Unisys

6 Application Transformation Market By Service (Page No. - 37)
    6.1 Introduction
    6.2 Application Portfolio Assessment
           6.2.1 Application Portfolio Assessment to Provide Important Information for Making Better Decision on Application Transformation Strategy
    6.3 Cloud Application Migration
           6.3.1 Increased Scalability and Business Agility, and Reduced Capital and Operating Costs to Drive the Growth for Cloud Application Migration Services
    6.4 Application Replatforming
           6.4.1 Application Replatforming to Grow at the Fastest Rate as Transforming of Applications Requires New Platforms
    6.5 Application Integration
           6.5.1 Application Integration Necessary for Organizations to Optimize Their It Landscapes and Gain Business Agility
    6.6 UI Modernization
           6.6.1 UI Modernization Service Gives A New and Better Experience to Legacy Applications
    6.7 Post Modernization
           6.7.1 24/7 Assistance and Relevant Skills to Address the Risk Application Replatforming to Drive the Growth of Post Modernization

7 Application Transformation Market By Organization Size (Page No. - 45)
    7.1 Introduction
    7.2 Small and Medium-Sized Businesses
           7.2.1 High Adoption of Lift-and-Shift Migration Strategy Leading to A Faster Growth Rate of the Small and Medium-Sized Businesses Segment
    7.3 Large Enterprises
           7.3.1 Large Enterprises Spending Significant Amounts to Migrate Their Legacy Applications to the Cloud

8 Application Transformation Market By Vertical (Page No. - 49)
    8.1 Introduction
    8.2 Retail
           8.2.1 Retailers to Adopt Innovative Technologies for Increasing Their Visibility and Presence in the Market
    8.3 IT and Telecommunication
           8.3.1 Need for Tailored Applications to Deliver A Hyper-Personalized Experience in IT and Telecom Vertical to Drive the Market Growth
    8.4 Healthcare
           8.4.1 Healthcare Vertical to Upgrade and Migrate Its Existing Applications to New Platforms and Technologies
    8.5 Banking, Financial Services, and Insurance
           8.5.1 BFSI Vertical to Accelerate Its Digital Transformation Strategy By Implementing New Technologies and Transforming Its Existing Applications
    8.6 Government
           8.6.1 Governments to Adopt New Technologies and Upgrade Their Legacy Applications By Migrating Them to New Environments and Open-Source Middleware Platforms
    8.7 Manufacturing
           8.7.1 Manufacturing Vertical to Migrate Its Existing Applications to New Open-Source Infrastructure for Getting Rid of Vendor Lock-Ins, Improving Agility, and Bringing Innovation in the Ecosystem
    8.8 Others

9 Application Transformation Market By Region (Page No. - 58)
    9.1 Introduction
    9.2 North America
           9.2.1 Strong Government Vision and Huge It Spending in North America is Driving the Demand of Market
    9.3 Europe
           9.3.1 Strong Technical Expertise and Bigger It Budget is Driving the Market in Europe
    9.4 Asia Pacific
           9.4.1 APAC Growing Economies, and High Technology Penetration is Expected to Drive the Market
    9.5 Middle East and Africa
           9.5.1 MEA is Witnessing A High Technology Adoption and Strong Investments in the Ict Sector, Which is Expected to Drive the Application Transformation Market in Forecast Period
    9.6 Latin America
           9.6.1 Companies in the Region are Transforming Their Legacy Applications and is Expected to Drive the Market in the Forecast Period

10 Competitive Landscape (Page No. - 75)
     10.1 Overview
     10.2 Competitive Leadership Mapping
             10.2.1 Visionary Leaders
             10.2.2 Dynamic Differentiators
             10.2.3 Innovators
             10.2.4 Emerging Companies
     10.3 Ranking of Key Players
     10.4 Competitive Scenario
             10.4.1 New Product Launches and Product Enhancements
             10.4.2 Partnerships, Collaborations, and Agreements
             10.4.3 Mergers and Acquisitions

11 Company Profiles (Page No. - 82)
     11.1 Introduction
(Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     11.2 Atos
     11.3 Tech Mahindra
     11.4 Fujitsu
     11.5 HCL
     11.6 Cognizant
     11.7 Pivotal Software
     11.8 Accenture
     11.9 IBM
     11.10 TCS
     11.11 Asysco
     11.12 Unisys
     11.13 Hexaware
     11.14 Oracle
     11.15 Micro Focus
     11.16 Bell Integrator
     11.17 Macrosoft

*Details on Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 108)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (44 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Application Transformation Market Size, By Service, 2017–2024 (USD Million)
Table 4 Application Portfolio Assessment: Market Size By Region, 2017–2024 (USD Million)
Table 5 Cloud Application Migration: Market Size By Region, 2017–2024 (USD Million)
Table 6 Application Replatforming: Market Size By Region, 2017–2024 (USD Million)
Table 7 Application Integration: Market Size By Region, 2017–2024 (USD Million)
Table 8 UI Modernization: Market Size By Region, 2017–2024 (USD Million)
Table 9 Post Modernization: Market Size By Region, 2017–2024 (USD Million)
Table 10 Application Transformation Market Size, By Organization Size, 2017–2024 (USD Million)
Table 11 Small and Medium-Sized Businesses: Market Size By Region, 2017–2024 (USD Million)
Table 12 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 13 Application Transformation Market Size, By Vertical, 2017–2024 (USD Million)
Table 14 Retail: Market Size By Region, 2017–2024 (USD Million)
Table 15 IT and Telecommunication: Market Size By Region, 2017–2024 (USD Million)
Table 16 Healthcare: Market Size By Region, 2017–2024 (USD Million)
Table 17 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 18 Government: Market Size By Region, 2017–2024 (USD Million)
Table 19 Manufacturing: Market Size By Region, 2017–2024 (USD Million)
Table 20 Others: Market Size By Region, 2017–2024 (USD Million)
Table 21 Market Size By Region, 2017–2024 (USD Million)
Table 22 North America: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 23 North America: Market Size By Service, 2017–2024 (USD Million)
Table 24 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 25 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 26 Europe: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 27 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 28 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 29 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 30 Asia Pacific: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 31 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 32 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 33 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 34 Middle East and Asia: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 35 Middle East and Asia: Market Size By Service, 2017–2024 (USD Million)
Table 36 Middle East and Asia: Market Size By Organization Size, 2017–2024 (USD Million)
Table 37 Middle East and Asia: Market Size By Vertical, 2017–2024 (USD Million)
Table 38 Latin America: Application Transformation Market Size, By Service, 2017–2024 (USD Million)
Table 39 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 40 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 41 Evaluation Criteria
Table 42 New Product Launches and Product Enhancements, 2017–2018
Table 43 Partnerships, Collaborations, and Agreements, 2017–2019
Table 44 Mergers and Acquisitions, 2016–2019
 
 
List of Figures (28 Figures)
 
Figure 1 Application Transformation Market Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping Matrix: Criteria Weightage
Figure 4 Market Top 3 Segments, 2019
Figure 5 Large Enterprises Segment to Have A Higher Market Share in 2019
Figure 6 Aging Legacy Application Technologies and the Availability of Cost-Effective Cloud Technology to Drive the Market Growth
Figure 7 Application Integration and North America to Hold the Highest Market Shares in 2019
Figure 8 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 9 North America to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: Application Transformation Market
Figure 11 Cloud Application Migration Segment to Grow at the Highest CAGR During the Forecast Period
Figure 12 Small and Medium-Sized Businesses Segment to Grow at A Higher CAGR During the Forecast Period
Figure 13 Retail Vertical to Hold the Highest Market Share During the Forecast Period
Figure 14 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 15 North America: Market Snapshot
Figure 16 Asia Pacific: Market Snapshot
Figure 17 Application Transformation Market (Global), Competitive Leadership Mapping, 2018
Figure 18 Ranking of Key Players in the Market 2018
Figure 19 Key Developments By the Leading Players in the Application Transformation Market During 2017–2019
Figure 20 Atos: Company Snapshot
Figure 21 Tech Mahindra: Company Snapshot
Figure 22 Fujitsu: Company Snapshot
Figure 23 HCL: Company Snapshot
Figure 24 Cognizant: Company Snapshot
Figure 25 Pivotal Software: Company Snapshot
Figure 26 Accenture: Company Snapshot
Figure 27 IBM: Company Snapshot
Figure 28 TCS: Company Snapshot

The study involved 4 major steps to estimate the current market size for the application transformation market. The exhaustive secondary research was done to collect information on the market, the peer market, and the parent market, which is the first step. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet, have been referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases and investor presentations of companies; white papers, technology journals and certified publications; and articles from recognized authors, directories, and databases.

Primary Research

The application transformation market comprises several stakeholders, such as solution and service providers, support and maintenance service providers, manufacturing enterprises, technology consultants, system design and development vendors, and logistics and supply chain management providers. The extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Primary research was also conducted to identify the segmentation types; industry trends; key players; the competitive landscape of different market players; and key market dynamics, such as drivers, restraints, opportunities, challenges, industry trends, and key strategies. Following is the breakdown of primary respondents:

Application Transformation Market

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

Application Transformation Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the overall size of the application transformation market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The application transformation market expenditures across regions, along with the geographic split in various segments have been considered to arrive at the overall market size.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size, using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the application transformation industry.

Report Objectives:

  • To define, describe, and forecast the application transformation market by services, organization size, vertical, and region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
  • To analyze the opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
  • To forecast the market size of the segments with respect to 5 main regions, namely, North America, Europe, APAC, MEA, and Latin America
  • To profile the key players and comprehensively analyze their market rankings and core competencies1
  • To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the application transformation market

1Core competencies of the companies have been captured in terms of their key developments and key strategies adopted by them to sustain their positions in the market.

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:

Geographic Analysis

  • Further breakup of the North American market into the US and Canada
  • Further breakup of the European market into the UK, Germany, France, Russia, Italy, and Rest of Europe
  • Further breakup of the APAC market into China, Japan, India, and Rest of APAC
  • Further breakup of the MEA market into the Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), and Rest of MEA

Company Information

  • Detailed analysis and profiling of additional market players
Report Code
TC 7144
Published ON
Jun, 2019
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