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Application Modernization Services Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021 - 2027
Published Date: October 2021
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Report Code: QYRE-Auto-14N771
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Global Application Modernization Services Market Size Status and Forecast 2020 2026

Application Modernization Services Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021 - 2027

Code: QYRE-Auto-14N771
Report
October 2021
151 Pages
QYResearch
Region: Global,
Description
Table of Content
Tables & Figures

Application Modernization Services Market Statistics 2027

The global Application Modernization Services market size is projected to reach US$ 43350 million by 2027, from US$ 16200 million in 2020, at a Compound Annual Growth Rate (CAGR) of 15.1% during 2021-2027. Application modernization is the refactoring, re-purposing, or consolidation of legacy software programming to align it more closely with current business needs.

Application Modernization Services Market 2027

The goal of an application modernization project is to create new business value from existing applications. An application is a program designed to perform a specific function directly for the user or, in some cases, for another application program. Keeping legacy applications running smoothly can be a time-consuming, resource-intensive process, especially when the software becomes so outdated that it becomes incompatible with newer versions of the underlying operating system (OS) or system hardware.

Application Modernization Tools is mainly divided into three subdivisions: Emulation, Translation and Business rules extraction. And Emulation was the most widely used area which took up about 45.43% of the global total in 2017.

However, in the further, Business rules extraction is growing fast and will occupy more share. By language, Application Modernization Services market can be divided into Cobol, ADA, PL/1, RPG, Assembler and PowerBuilder, Cobol is the largest subdivision with the market share of 63.32% in 2017.

Application Modernization Services Market Report

Based on region, Asia Pacific is expected to be the most lucrative segment during the forecast period. Enterprises in this region are becoming more competitive as a result of increased internet traffic, cloud usage, and the IT services start-up ecosystem, and are focusing on providing better customer experience services to industries. As a result, global corporations are attracted to the APAC region's untapped potential.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Application Modernization Services market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Application Modernization Services market in terms of revenue.

Application Modernization Services Market Segments

Application Modernization Services Market by Type

  • Cobol
  • ADA
  • PL/1
  • RPG
  • Assembler
  • PowerBuilder
  • Others

Application Modernization Services Market by Application

  • Emulation
  • Translation
  • Business Rules Extraction

Application Modernization Services Market by Region

  • North America
  • United States
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Nordic
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Australia
  • Rest of Asia-Pacific
  • Latin America
  • Mexico
  • Brazil
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

In the competitive analysis section of the report, leading as well as prominent players of the global Application Modernization Services market are broadly studied on the basis of key factors. The report offers a comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2016-2021.

Major key players in the Application Modernization Services Market

  • Accenture
  • Atos
  • Bell Integrator
  • Capgemini
  • Cognizant
  • Fujitsu
  • HCL
  • IBM
  • Macrosoft Inc.
  • Tech Mahindra
  • TCS
  • Wipro
  • Infosys
  • DXC
  • Blu Age
  • TSRI
  • Modern Systems
  • Trinity Millennium
  • Micro Focus
  • Software Mining
  • Semantic Designs
  • Evolveware
  • Mapador
  • Fresche Solutions Inc.
  • Asysco
  • Expersolve
  • Metaware
  • MOST Technologies
  • Freesoft
  • Language Portability Solutions

Scope of the Application Modernization Services Market Report

Report Metric

Details

Report Name

Application Modernization Services Market

The market size in 2020

USD 16200 Million

The revenue forecast in 2027

USD 43350 Million

Growth Rate

Compound Annual Growth Rate (CAGR) of 15.1% from 2021 to 2027

Base year considered

2020

Market size available for years

2021-2027

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Frequently Asked Questions About This Report

1. Which is the most influencing segment growing in the application modernization services?

Ans. Based on type, the Cobol segment held the largest application modernization service market share of about 63.32% in 2017.

2. Which market holds the maximum market share of the global application modernization services?

Ans. Based on region, Asia Pacific is expected to be the most lucrative segment during the forecast period.

3. How big is the application modernization services market?

Ans. The global Application Modernization Services market size is projected to reach US$ 43350 million by 2027, from US$ 16200 million in 2020, at a Compound Annual Growth Rate (CAGR) of 15.1% during 2021-2027.

4. What are the key trends in the application modernization services market report?

Ans. The application management services market is expected to see significant growth due to the increased usage of open source technologies and the presence of a large number of legacy applications.

5. What would be the forecast period in the application modernization services market report?

Ans. The forecast period considered for the global application modernization services market is 2021 to 2027.

6. Who are the key players in the application modernization services market?

Ans. The major players operating in the application modernization services market include Accenture, Atos, Bell Integrator, Capgemini, Cognizant, Fujitsu, HCL, IBM, Macrosoft Inc., Tech Mahindra, TCS, Wipro, Infosys, DXC, Blu Age, TSRI, Modern Systems, Trinity Millennium, Micro Focus, Others.

Table of Content

 

List of Tables & Figures

 

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