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Market Leader - Application Modernization Services Market

The application modernization services market size is estimated to be USD 6.87 Billion in 2017 and is expected to reach USD 16.67 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. Some of the major factors that are expected to drive the growth of the application modernization services market include the growing need for business agility and faster time to market, leveraging big data technologies, and adopting cloud computing in the application modernization strategy, leading to increased deployment of application modernization services.

The key market players profiled in this report are Accenture (Republic of Ireland), Asysco (Netherlands), Atos (France), Bell Integrator (US), Capgemini (UK), Cognizant (US), Fujitsu (Japan), HCL (India), IBM (US), Macrosoft Inc. (US), Micro Focus (US), Oracle (US), Tech Mahindra (India), and UST Global (US). These players offer application modernization services to cater to the needs and demands of the market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, business expansions, and new product launches. The strategy of partnerships, agreements, and collaborations is the major strategical trend, followed by mergers and acquisitions.

Accenture has adopted a strategic mix of organic and inorganic growth strategies, such as partnerships, new product launches, mergers and acquisitions, and business expansions. In 2017, Accenture partnered with Apple to help its client migrate and transfer their legacy applications to the modern iOS apps. In 2017, Accenture acquired Genfour, a UK-based automation service provider. This acquisition aims at enhancing Accenture’s intelligent automation services capabilities. In addition, in 2017, Accenture partnered with Docker, a docker open source platform provider, to add container services in Accenture’s cloud factory.

Similarly, IBM has adopted a strategic mix of organic and inorganic growth strategies. For instance, in 2015, IBM launched the new Bluemix service that enables developers to create analytics-driven cloud applications with more flexibility. In 2016, IBM acquired EZSource, an Israel-based company that offers application discovery services. This acquisition aimed to add EZSource’s expertise into IBM’s DevOps and API management offerings, to speed up the application modernization projects. In addition, in 2015, IBM partnered with CSC to leverage its Bluemix services and enabled developers to access cloud-native and cloud-enabled applications.

Related Reports:

Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming, Application Integration, UI Modernization), Organization Size, Vertical, and Region - Global Forecast to 2022

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