Press release
Soaring Demand Set to Propel Application Modernization Services Market to $50.83 Billion by 2029
Application Modernization Services Market
What Is the Expected CAGR for the Application Modernization Services Market Through 2025?
The market size of application modernization services has seen a quick expansion in the past few years. It is predicted to increase from $21.13 billion in 2024 to $24.39 billion in 2025, at a compound annual growth rate (CAGR) of 15.4%. The growth during the historic period was driven by factors such as business process optimization, cost effectiveness, user experience improvement, challenges in data management, market rivalry, and demand for innovation.
What's the Projected Size of the Global Application Modernization Services Market by 2029?
The market size for application modernization services is predicted to surge significantly in the upcoming years, reaching $50.83 billion in 2029 with a compound annual growth rate (CAGR) of 20.2%. The surge during the forecast timeframe can be ascribed to the adoption of mobile-first agendas, the shift to remote working norms, evolving customer expectations, requirements for elastic scalability, data privacy and adherence to regulations, and focus on environmental sustainability. Forecast trends include the acceptance of cloud-native technology, the use of microservices architecture, containerization and orchestration, integration of DevOps, prioritizing an API-first approach, ensuring security and conformity, and the application of hybrid and multi-cloud strategies.
View the full report here:
https://www.thebusinessresearchcompany.com/report/application-modernization-services-global-market-report
Top Growth Drivers in the Application Modernization Services Industry: What's Accelerating the Market?
The application modernization services market is anticipated to expand as more businesses resort to the implementation of digital technologies and applications. Digital technologies, essentially encompass electronic systems, devices and resources designed to produce, store, or process data, are becoming more prevalent in today's businesses. They can transform outdated IT infrastructure and applications through the use of advanced technologies. Whatfix, an Indian SaaS-based digital adoption platform, revealed in October 2023 that the worldwide IT expenditure is likely to hit $5 trillion in 2024, a growth of 8.6% from 2023. This trend demonstrates the increasing emphasis businesses are placing on digital technologies to enhance their operations and adapt to changing market requirements. Consequently, the proliferation of businesses adopting digital technologies and applications is fueling the growth of the application modernization services market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7951&type=smp
What Trends Will Shape the Application Modernization Services Market Through 2029 and Beyond?
In the application modernization services market, one prominent trend is the incorporation of technological advancements. Major players in this market are utilizing cutting-edge technologies like the SMART Modernization service, built on AI, machine learning, and speed up digital transformation technology, to outperform their rivals. For instance, in October 2023, AVEVA, a firm from the UK specialising in industrial software, introduced an enhanced plan that included a novel Hybrid Cloud Manufacturing Execution System. This cutting-edge system amalgamates enhanced capabilities for processing data in real-time and analysing it, aiding manufacturers in optimizing their operations and enhancing decision-making. AVEVA's roll-out signifies its dedication towards facilitating digital transformation in the manufacturing industry by offering a flexible solution that harnesses the potential of hybrid cloud technology.
What Are the Main Segments in the Application Modernization Services Market?
The application modernization servicesmarket covered in this report is segmented -
1) By Type: Cobol, ADA, PL Or 1, RPG, Assembler, PowerBuilder, Others Types
2) By Cloud Deployment Mode: Private Cloud, Public Cloud, Hybrid Cloud
3) By Application: Post Modernization, Application Portfolio Assignment, Ui Modernization, Cloud Application Mitigation, Application Integration, Application Re Platforming
4) By Vertical: BFSI, Healthcare And Life Sciences, Telecommunications, IT And ITeS, Retail And Consumer Goods, Government And Public Sector, Energy And Utilities, Manufacturing, Others Vertical
Subsegments:
1) By Cobol: Cobol To Java Migration, Cobol To .NET Migration
2) By ADA: ADA Code Conversion, ADA Integration Services
3) By PL Or 1: PL Or 1 Modernization, PLOr 1 To Java Migration
4) By RPG: RPG To Java Migration, RPG Web Enabling
5) By Assembler: Assembler Code Conversion, Assembler Modernization Solutions
6) By PowerBuilder: PowerBuilder Migration To Web, PowerBuilder Application Reengineering
7) By Other Types: Legacy Application Modernization, Database Modernization, Custom Application Development
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7951&type=smp
Which Top Companies are Driving Growth in the Application Modernization Services Market?
Major companies operating in the application modernization services market are accenture* PLC, Aspire Systems Inc., Asysco Inc., Bell Integrator Inc., Blu Age Corp., Capgemini SE, Cognizant Technology Solutions Corporation, Dell Inc., DXC Technology Company, EPAM Systems Inc., HCL Technologies Limited, Hexaware Technologies Limited, IBM Corporation, Infosys Limited, Micro Focus International PLC, Microsoft Corporation, Modern Systems Inc., Oracle Corporation, Tata Consultancy Services Limited, Tech Mahindra Limited, The Software Revolution Inc., Wipro Limited, Atos Information Technology Incorporated, Deloitte Touche Tohmatsu LLC, Cuelogic Technologies Pvt. Ltd., Mindtree Consulting Private Limited, Larsen & Toubro Infotech Ltd., Virtusa Consulting Services Private Limited, Nippon Telegraph and Telephone Public Corporation, Trianz Holdings Private Limited, Persistent Systems and Solutions Limited, Sonata Software Ltd.
Which Regions Will Dominate the Application Modernization Services Market Through 2029?
North America was the largest region in the application modernization services market in 2024. The regions covered in the application modernization services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7951
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Soaring Demand Set to Propel Application Modernization Services Market to $50.83 Billion by 2029 here
News-ID: 4224918 • Views: …
More Releases from The Business Research Company
Steady Expansion Forecast for Construction Estimating Software Market, Projected …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Construction Estimating Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for construction estimating software has seen robust growth in the past years. It's projected to increase from $1.45 billion in 2024 to $1.56 billion in 2025, reflecting a compound annual growth…
What Is Driving Global Cloud Professional Services Market Growth in 2025: The Ro …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Cloud Professional Services Market Size Growth Forecast: What to Expect by 2025?
In the past few years, the market size of cloud professional services has seen swift expansion. The market is set to inflate from a value of $33.72 billion in 2024 to a higher value of $38.79 billion…
Bot Services Market Trends That Will Shape the Next Decade: Insights from Techno …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Bot Services Market Size By 2025?
The market size for bot services has experienced exponential expansion in the past few years. Its growth is projected to increase from $5.33 billion in 2024 to $7.06 billion in 2025, with a compound annual growth rate (CAGR) of…
Driving The Future High Demand For Robots Fuels Growth In The Autonomous Navigat …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Autonomous Navigation Industry Market Size Be by 2025?
The market size of autonomous navigation has seen a significant surge in the past few years. The market, which is expected to escalate from $5.22 billion in 2024 to a whopping $6.14 billion in 2025, is growing at…
More Releases for Application
Email Application Market Size Analysis by Application, Type, and Region: Forecas …
According to Market Research Intellect, the global Email Application market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The Email Application Market is growing quickly because more and more people and businesses need to be able…
Travel Application Market Size Analysis by Application, Type, and Region: Foreca …
USA, New Jersey- According to Market Research Intellect, the global Travel Application market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
Due to the growing need for digital travel solutions and the growing usage of smartphones, the travel application industry is growing quickly. Travellers' preference…
Web Application Development Company Creates Application Replatforming Guide
Image: https://www.getnews.info/wp-content/uploads/2024/09/1725267563.jpeg
Orases, a custom software development company located in Frederick, MD, has recently unveiled its new "Application Replatforming Guide." This comprehensive guide is designed to help businesses understand the importance of modernizing their legacy systems and provides a step-by-step approach to successfully execute replatforming projects.
Frederick, Maryland - September 2, 2024 - Orases, a Frederick-based application replatforming agency [https://orases.com/replatforming/], is excited to announce the release of its latest resource, the…
POS Printer Market Report 2018: Segmentation by Type (Impact, Thermal, Others) b …
Global POS Printer market research report provides company profile for Bixolon, Boca Systems, Cognitive TPG, CUSTOM SPA, NCR, Pertech Industries, Woosim, Zebra and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also…
High Voltage Super Junction MOSFET Market Report 2018: Segmentation by Type (SMT …
Global High Voltage Super Junction MOSFET market research report provides company profile for Fuji Electric, IceMOS Technology, ROHM, Vishay, DACO Semicondusctor, STMicroelectronics, Renesas Electronics, ON Semiconductor (Fairchild Semiconductor), Alpha & Omega Semiconductor, Infineon Technologies Toshiba and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth…
Waste to Energy Market Report 2018: Segmentation by Technology (Thermal, Biologi …
Global Waste to Energy market research report provides company profile for Waste Management Inc., Suez Environment S.A., C&G Environmental Protection Holdings, Constructions industrielles de la Mediterranee (CNIM), China Everbright International Limited, Covanta Energy Corporation, Foster Wheeler A.G., Abu Dhabi National Energy Company PJSC and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to…
