Application Modernization Services Market

Application Modernization Services Market Share & Size: Recent Developments

At a Compound Annual Growth Rate (CAGR) of 16.7% over the course of the forecast period, the application modernization services market is anticipated to increase from USD 15.2 billion in 2022 to USD 32.8 billion by 2027. The migration of historical programs to new platforms or applications, together with the integration of new functionality to provide the business with the newest capabilities, are the topics covered by application modernization services. For re-platforming, re-hosting, recoding, rearchitecting, re-engineering, interoperability, replacement, and retirement, vendors provide a plethora of modernization options. The optimal course of action may also be determined by modifying the application design.

The growth of the application modernization services market is driven by several key factors that reflect the increasing demand for digital transformation and IT modernization across industries. Here are the main growth factors:

  • Legacy System Modernization
  • Cloud Adoption
  • Digital Transformation Initiatives
  • Agility and Competitive Edge
  • Integration with Emerging Technologies
  • Cost Optimization
  • Compliance and Security

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

Legacy System Modernization:

Organizations face challenges with outdated legacy systems that hinder agility, scalability, and innovation. Application modernization services enable the transformation of legacy applications into modern, cloud-native, and scalable solutions.

Cloud Adoption:

The shift towards cloud computing drives the demand for application modernization services. Businesses are migrating applications to cloud platforms (public, private, hybrid) to improve flexibility, scalability, and cost-efficiency while leveraging advanced cloud-native capabilities.

Digital Transformation Initiatives:

Companies are investing in digital transformation strategies to enhance customer experiences, optimize operations, and drive business growth. Application modernization enables organizations to align IT infrastructure with digital goals and emerging technologies.

Agility and Competitive Edge:

Modernized applications support agile development methodologies and DevOps practices, enabling faster time-to-market for new features and services. This agility provides businesses with a competitive edge in rapidly evolving markets.

Integration with Emerging Technologies:

Application modernization services facilitate integration with emerging technologies such as AI, machine learning, IoT, and blockchain. This integration enhances application functionality, performance, and innovation capabilities.

Cost Optimization:

Modernized applications reduce maintenance costs associated with legacy systems and improve operational efficiency. Cloud adoption and automation of IT processes lead to cost savings in infrastructure management and software updates.

Compliance and Security:

Modernization services focus on enhancing application security and ensuring compliance with industry regulations. Upgraded applications incorporate robust security features and encryption protocols to protect sensitive data.

Application Modernization Services Market Share - Global Industry Landscape

The leading companies in the Application Modernization Services industry and their key offerings include:

  • Bell Integrators (US)
  • Innova Solutions (US)
  • Oracle (US)
  • EPAM Systems (US)
  • Dell Technologies (US)

These companies like Accenture, Infosys, and Wipro offer comprehensive modernization solutions that can encompass various aspects of your application.

Bell Integrators (US)

Market Share: Bell Integrators is a global IT services and consulting company, primarily focusing on digital transformation solutions. Specific market share details are not widely available, but the company serves a diverse client base across various industries.

Key Offerings:

  • IT Consulting Services: Provides strategic IT consulting and advisory services.
  • Application Development and Integration: Custom software development and integration services.
  • Cloud Services: Migration to cloud platforms and cloud-native application development.
  • Managed Services: IT infrastructure management and support services.
  • Digital Transformation Solutions: Helps businesses adapt and innovate in the digital age.

Innova Solutions (US)

Market Share: Innova Solutions specializes in digital transformation, automation, and IT services. Specific market share details are not publicly disclosed, but the company operates globally and serves clients across industries such as finance, healthcare, and technology.

Key Offerings:

  • Robotic Process Automation (RPA): Provides automation solutions to streamline business processes.
  • Application Development and Maintenance: Custom software development and ongoing support.
  • Cloud Services: Migration to cloud platforms and managed cloud services.
  • Data Analytics and Business Intelligence: Helps organizations leverage data for informed decision-making.
  • IT Infrastructure Services: Manages and optimizes IT infrastructure for scalability and efficiency.

Oracle (US)

Market Share: Oracle is a major player in the global enterprise software and cloud computing markets. It holds significant market share in database management systems, enterprise applications, and cloud infrastructure services.

Key Offerings:

  • Oracle Cloud Infrastructure (OCI): Provides cloud computing infrastructure and platform services.
  • Oracle Database: Leading database management system for enterprise applications.
  • Enterprise Applications: Suite of ERP, CRM, HCM, and SCM applications.
  • Cloud Services: SaaS, PaaS, and IaaS offerings for various business needs.
  • Consulting and Support Services: Helps customers implement, manage, and optimize Oracle solutions.

EPAM Systems (US)

Market Share: EPAM Systems is a leading global provider of digital platform engineering and software development services. It serves clients across industries with a strong presence in North America, Europe, and Asia.

Key Offerings:

  • Digital Platform Engineering: Custom software development and digital transformation solutions.
  • Product Development Services: Helps companies build and launch digital products and platforms.
  • Consulting and Advisory Services: Strategic consulting on technology and digital strategies.
  • Quality Assurance and Testing: Ensures the quality and reliability of software applications.
  • Data and Analytics: Helps organizations derive insights and value from data.

Dell Technologies (US)

Market Share: Dell Technologies is a multinational technology company known for its range of hardware, software, and IT services. It has significant market share in servers, storage, PCs, and virtualization solutions.

Key Offerings:

  • Infrastructure Solutions: Servers, storage systems, and networking solutions for data centers.
  • Client Solutions: PCs, laptops, workstations, and peripherals for personal and business use.
  • Software and Services: IT consulting, cloud services, and cybersecurity solutions.
  • Data Protection: Backup, recovery, and cybersecurity solutions for data management.
  • Cloud and Edge Computing: Solutions for hybrid and multi-cloud environments.

These companies illustrate a diverse array of capabilities and market presence within their respective domains, providing specialized solutions to meet the evolving needs of businesses worldwide.

Related Reports:

Application Modernization Services Market by Service Type (Application Portfolio Assessment, Cloud application Migration, Application Re-platforming), Cloud Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027

Application Modernization Services Market Size,  Share & Growth Report
Report Code
TC 5645
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status