Application Modernization Services Market Expected to Grow at 16.67 Billion in Revenue by 2022 | Accenture, Asysco, Atos, Bell Integrator, Capgemini, Cognizant, Fujitsu, HCL and Others.

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The Application Modernization Services Market size is expected to grow from US$ 6.87 Billion in 2017 to US$ 16.67 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. This report spread across 119 pages, profiling 14 companies and supported with 37 tables and 32 figures is now available in this research.

Top Vendors in the Application Modernization Services Market include are Accenture (Republic of Ireland), Asysco (Netherlands), Atos (France), Bell Integrator (US), Capgemini (France), Cognizant (US), Fujitsu (Japan), HCL (India), IBM (US), Macrosoft Inc. (US), Micro Focus (UK), Oracle (US), Tech Mahindra(India), UST Global (US).

“Manufacturing vertical is expected to grow at the fastest rate during the forecast period”
The manufacturing vertical is expected to witness the highest growth rate during the forecast period, owing to the need of improving the operational process, reducing the cost, and rolling out products in a quick time frame, further eliminating the location barriers. In addition, there is high penetration of advance technologies, such as cloud computing, big data and analytics, mobility, and artificial intelligence, which are transforming the manufacturing vertical.

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“Large enterprises segment is expected to hold the largest market share during the forecast period”
The large enterprises segment is expected to hold the largest market share during the forecast period, owing to the need to reduce the high Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). Large enterprises have dedicated in-house IT resources, and with large IT budgets, they can consider a variety of application modernization strategies.

“APAC is expected to grow at the fastest rate during the forecast period”
As per the geographic analysis, the Asia Pacific (APAC) region is expected to witness the fastest growth in the application modernization services market, due to increased spending on improving the infrastructure, and the growing adoption of big data and cloud computing technologies. North America is expected to hold the largest market share during the forecast period, owing to the early adoption of application modernization services technology and high penetration of advance cloud technologies.

Breakdown of Primary Participants’ Profile:
• By Company Type: Tier1 (45%), Tier2 (35%), and Tier 3 (20%)
• By Designation: C-Level (50%), Director Level (30%),and Manager Level (20%)
• By Region: North America (40%), Europe (30%), APAC (20%), and RoW (10%)

Report Highlights:
• To forecast the size of the market segments with respect to the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA)

• To determine and forecast the global application modernization services market on the basis of services, organization sizes, verticals, and regions from 2017 to 2022, and analyze the various macro and microeconomic factors that affect the market growth

• To provide detailed information regarding the major factors influencing the growth of the application modernization services market (drivers, restraints, opportunities, and challenges)

• To analyze each submarket with respect to the individual growth trends, prospects, and contributions to the total market

• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market

• To profile the key market players, provide comparative analysis on the basis of business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the competitive landscape of the market

• To track and analyze the competitive developments, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities in the application modernization services market

Target Audience for Application Modernization Services Market: Application management service providers, Cloud service providers, Independent Software Vendors (ISVs), Information Technology (IT) companies, Professional and managed service providers, System integrators/migration service providers.

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