Top Companies in Application Modernization Services Industry

The global application modernization services market size 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%. The market is growing due to the rising need for organizations to cope with the fast-changing business environment. In the past, businesses depended on poorly designed, inflexible, expensive-to-maintain, and especially expensive-to-upgrade systems. These legacy systems found it difficult to incorporate evolving technologies such as cloud and artificial intelligence, thereby causing operational delays. Over the years however, the focus of the market has been on alternative solutions that help organizations in transforming the way some of their applications work, integrating them with the current IT environment, lowering costs and enhancing speed. This evolution has been very important because of the increasing strategic focus on digital transformation and innovation by organizations.

Various globally established players, such as Oracle (US), IBM (US), Microsoft (US), AWS (US), HCL Technologies (India), Accenture (Ireland), ATOS (France), Capgemini (France), Cognizant (US), TCS (India), are dominating the application modernization services market. To increase their market share in the application modernization services market, these competitors have used various growth methods, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

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Top Companies in Application Modernization Services Industry Include

• IBM (US)
• Accenture (Ireland)
• Oracle (US)
• Microsoft (US)
• Capgemini (France)

Oracle (US)

Oracle is a global leader in cloud technology and enterprise software, offering a comprehensive suite of solutions for application modernization. In the Application Modernization Services market, Oracle focuses on helping organizations transform legacy systems into modern, agile, and scalable architectures. By leveraging Oracle Cloud Infrastructure (OCI), containerization, microservices, and advanced analytics, the company enables businesses to optimize performance, reduce costs, and accelerate digital transformation. Oracle's extensive expertise in databases, middleware, and SaaS solutions makes it a trusted partner for enterprises seeking seamless migration, modernization, and innovation in their application portfolios.

Microsoft (US)

Microsoft is a global leader in technology and a key player in the application modernization services market. Through its Azure cloud platform, Microsoft provides robust tools and services for rehosting, re-platforming, and refactoring legacy applications. With a focus on scalability, integration of AI, and seamless migration, Microsoft empowers businesses to modernize their applications while enhancing performance and reducing operational costs.

Capgemini (France)

Capgemini is a renowned IT services provider, offering comprehensive application modernization services that help organizations transform legacy systems into agile, cloud-native applications. Leveraging expertise in cloud computing, DevOps, and emerging technologies, Capgemini focuses on improving scalability, operational efficiency, and customer experience while supporting digital transformation initiatives globally.

IBM

IBM(International Business Machines Corporation) is a worldwide technology and consulting firm that provides solutions to its customers business problems. The company has four primary operational segments, which are Software Development, Consulting, Infrastructure and Financing. The first of these segments refers to the hardware and software of the company including cloud systems and Al systems with analytical, artificial intelligence, automated control, block-chain and information assurance technologies. The second area of the company’s operations, i.e., consulting, includes business transformation engagements, technology consulting, and application services. This segment provides IT resources such as storage systems, servers, and even mainframes as means to enhance the existing IT environments of clients. This particular segment helps enhance the IT resources of the company by providing financial solutions such as leasing and lending in order to facilitate the acquisition of new IT resources.

In the application modernization services market, IBM is engaged in the provision of diverse services through its IBM Garage platform. The platform is designed for creative approaches for the specific needs of customers. It assists organizations in the process of the renewal of their existing and legacy applications in order to achieve a quicker digital evolution of the company and creating a better experience for the developers and the easing the of process of migrating applications on the clouds.

In the application modernizations services portfolio for the company potential clients, preliminary app readiness assessment is followed by application refactoring, repackaging and replatforming utilizing the containerization and DevOps pipelines. It also extends the scope of services and includes assistance in moving relevant applications to the cloud, or following the banking crisis, app decommissioning processes. The company offers these services through the tools within its IBM Garage system.

To evaluate application portfolios, IBM relies on the Cloud Transformation Advisor tool which assists organizations in identifying the most suitable modernization approach. This tool falls under the umbrella of IBM Cloud Pak for Applications, which is a solution specializing in containerization software. When it comes to cloud migrations, the platforms and the cloud services are provided by the IBM Cloud Migration Factory, and the applications are hosted on the IBM WebSphere Liberty platform for purposes of refactoring. Other tools such as IBM Cloud Pak for Integration provide features like application and data integration, and so on.  Employing about 2,82,200 employees, IBM registered an annual revenue of USD 61.86 billion in 2023. Moreover, it has a wide global reach with operations in North America, Europe, Asia, the Middle East and Africa, as well as in Latin America.

Accenture

Accenture is a global management consulting, technology services and outsourcing company which was previously called Andersen Consulting. The company adds value through its strategy focused on competing effectively with other firms which includes strategic alliance, constant R&D investment, and keeping employees on a regular training schedule. The company’s operations are far-reaching, covering the entire globe and therefore gives healthy competition to big names like Deloitte, Atos, NTT Data, IBM, Capgemini, etc. in the provision of diverse products and services.

Accenture offers services to a wide range of industries such as, aerospace and defense, chemicals, healthcare and life sciences, software and its platforms, automotive industry, communication and media, banking sector, consumer products and services, retailing, and the public sector. The segments of the company include Communications, Media & Technology, Financial Services, Health & Public Services, Products, and Resources.

As for the application modernization services, Accenture presents a full-fledged solution for effective IT management. These services include service design and technical architecture consultancy, application discovery, recognition and planning, and agile and DevSecOps transformation. Accenture uses the most advanced technologies and processes in application reengineering in order to repatriate most applications from expensive maintained operational costs. Targeting and innovating processes has always been Accenture's strong suit, which facilitates the delivery of their services within the shortest time possible while incurring minimum charges through the use of diagnostic migration plans. As for 2023 fiscal year, Accenture's reported revenue stood at USD 64.10 billion and workforce numbered 733,000. It has regional offices in North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Related Reports:

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