Press release
Optimization of recurring cost in application modernization is a driving factor for application development and modernization (ADM) market
Traditionally, companies were dependent on application modernization to improve repeated costs reducing from outdated technologies. So, in order to be efficient and effective in the modern era, companies have started adopting platforms for the social and mobile enterprise. To update these platforms and applications, application development and modernization solution with advanced technology is used. This modernization solution helps in improvising codes used in applications by updating interfaces, restructuring data, and using fully automated refactoring to replace the old technology with the advanced version. This application development and modernization process help in lowering the cost as well as risk while implementing mobile, cloud, analytics, and security capabilities. Application development and modernization is an approach that replaces the outdated legacy code with the advanced version without any disruption to the business. Application development and modernization help in maximizing the existing business application's potential by rationalization and modernization solutions.
Application Development and Modernization (ADM) Market: Market Dynamics
Optimization of recurring cost in application modernization is a driving factor for application development and modernization (ADM) market.
High cost incurred in maintaining and updating the applications and integration issues are restraining the growth of application development and modernization (ADM) market.
Increased business efficiency and replacement with an advanced application are creating opportunities for application development and modernization (ADM) market, throughout the globe.
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Global Application Development and Modernization (ADM) Market: Market Segmentation
Segmentation Overview
Application Development and Modernization (ADM) market can be segmented by services, verticals, and region.
Segmentation by services in Application Development and Modernization (ADM) market:
Application Management Service
Application Maintenance Service
Application Modernization Service
Application Development Service
Quality Assurance Service
Segmentation by verticals in Application Development and Modernization (ADM) market:
IT & Telecom
BFSI
Healthcare
Retail
Manufacturing
Government
Others
Global Application Development and Modernization (ADM) Market: Competition Landscape
Few prominent players in the Application Development and Modernization (ADM) market include Ericsson AB, NTT DATA, Inc., HCL Technologies Limited, Exilant Technologies Private Limited, Interglobe Technologies Private Limited, IBM Corporation, Infosys Limited, Collabera Inc., Terra Technology, LLC and Larsen & Toubro Infotech Limited etc.
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Application Development and Modernization (ADM) Market: Regional Outlook
Application Development and Modernization (ADM) market is dominated by the North America region. North American region is dominant in the Application Development and Modernization (ADM) market due to wide presence of prominent application development and modernization (ADM) vendors who provide advanced technologies. Asia Pacific is an emerging market for application development and modernization (ADM). Eastern Europe, Latin America, and MEA are expected to foresee growth in the application development and modernization (ADM) market in the near future.
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