Application Modernization Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025

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Application Modernization Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025

Status : September, 2018 | Technology & Media | PPT format

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Global Application Modernization Services Market: Snapshot

The global market for application modernization has been expanding at a robust rate over the past decade. The past years have been the harbingers of technological advancement and induction of better applications services across industries and channels. Owing to these factors, the demand within the global market for application modernization has elevated by leaps and bounds. The re-engineering of the various processes that run inside of a company or industrial unit refers to applications modernization. It brings several benefits to the companies in the form of improved efficiency, lower costs, enhanced flexibility, and agile operations. Hence, the companies are on the lookout for application modernization services in order to accentuate the growth and development of their industrial and commercial units.

In this fast-paced scenario, it is extremely important for industrial and commercial units to induct better technologies that make processes nimble and agile. This has been a key factor behind the rapid growth of the global market for application modernization. Big data technologies also form an important part of international organizations, thus, necessitating the continual modernization of applications. Cloud computing has become indispensable for most data-centric organizations, and this reliance on cloud services has created growth spaces within the global market for application modernization services.

The huge IT sector in India and China is expected to drive demand within the market for application modernization services in Asia Pacific. In North America, technologies that reduce costs and increase efficiency are swiftly adopted, thus, leading to the growth of the market for application modernization services in the region.

Global Application Modernization Services Market: Overview

Businesses world over are increasingly acknowledging the constraining effect of legacy applications and platforms on their agility and growth. Enterprises from a wide range of industries seek better modernizations options for migrating their legacy systems or remediating them to address these constraints and add value to their business. This is the primary factor propelling the demand for application modernization services in various developing and developed regions. These options may be centered on re-platforming, re-hosting, rearchitecting, or re-engineering these applications, with better interoperability of the system.  The adoption of these services result in enhancing flexibility, lowering risk, minimizing costs, with the overall aim in boosting the operational improvements, thereby enhancing the competitiveness of application environments. 

Global Application Modernization Services Market: Key Trends

The pressing need for improving the business agility among a growing number of enterprises is a key factor stoking the demand for application modernization services. The rising demand for improving time-to-market of these technologies is a notable factor boosting the market. The marked demand for services that make changes to application architecture that tend to facilitate the migration without causing any disruption, while reducing costs, is a defining factor significantly bolster the adoption. The burgeoning deployment of cloud computing solutions and the rising ubiquity of big data technologies among forward-looking enterprises are prominent factors expected to pave way for the growth of the application modernization services market. Since application modernization is a time-consuming process, coupled with the paucity of technical expertise to tide over operational complexities, the market is likely to witness roadblocks in the coming years if these issues are not addressed.

Global Application Modernization Services Market: Market Potential

The application modernization services market is witnessing marked shift from one-size-fits-all cloud platforms to tailor-made solutions for enterprises. The presence of legacy systems, largely characterized by hyperscale cloud, hinders the modernizing of application functionalities for enterprises. This calls for solutions that will do away with unnecessary complexity for migrating to modern IT workloads on cloud.

Skytap, Inc., a U.S.-based globally prominent cloud provider, on November, 2017 announced the unveiling of support services for IBM's AIX operating system on Skytap Cloud and IBM Cloud for Skytap Solutions (ICSS), which will help enterprise clients deploy cloud solutions faster and facilitate their modernization of their core business services. These solutions will offer support on public cloud model for AIX, Windows, and Linux, with the support for the last one scheduled to be offered on IBM Power Systems in the first half of the next year. The offering is a key outcome of the strategic collaboration between the Seattle-based cloud computing company and IBM. One of the recent development is the adoption of modernization service by Skytap’s client Blueworx. The company is leveraging on the potential of Skytap Cloud in modernizing its AIX-based applications, which will help it take customer services to the next level.

In the coming years, a number of enterprise clients world over will use the services to bring innovation in customer experiences.

Global Application Modernization Services Market: Regional Outlook

Geographically, North America is one of the most attractive markets and is expected to hold substantial shares of the global market over the forecast period. The prominence of the regional market is attributed to a large number of early adopters and the launch of advanced product offerings in several countries. Meanwhile, Asia Pacific is expected to rise at a prominence pace in the coming years. The growth will be fueled by the accelerated adoption of cloud services and the vastly rising spending on modernizing enterprise infrastructure.

Global Application Modernization Services: Competitive Analysis        

A number of players are focused on capitalizing on untapped opportunities in emerging markets, mostly aiming for SMEs, in order to consolidate their shares. Several top players are entering into partnerships and collaborations to launch innovative product offerings, in a move to stay ahead of the pack. Key players operating in the application modernization services market include Oracle Corporation, Atos, Tech Mahindra, IBM, Cognizant, Accenture, and Capgemini SE. 

The study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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