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.
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.
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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.
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
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
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