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Application Modernization Services Market may reach to $24.8 billion by 2025

09-01-2021 02:59 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Application Modernization Services Market

Application Modernization Services Market

According to a research report "Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming), Cloud Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets, the application modernization services market size expected to grow from USD 11.4 billion in 2020 to USD 24.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period. Key factors driving the application modernization services market include growth of cloud services, large scale migration of workloads to cloud-based and Service Oriented Structure (SOA), rising focus transforming and modernizing legacy systems, and rise in demand for modern infrastructure to ensure business continuity.

Browse in-depth TOC on "Application Modernization Services Market”
302- Tables
47- Figures
260- Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=149625724

By service, the application re-platforming segment to hold the largest market size during the forecast period

The application re-platforming segment to hold the largest market size during the forecast period. Application re-platforming as re-platforming offers faster application delivery and time-to-market, along with flexibility, scalability, faster networking speeds, and reduced TCO. To keep up with rapid technology evolution and the demands of current markets, large organizations are urged to adopt modernization services for their legacy systems, thereby increasing the demand for application migration to cloud and leading re-platforming services to grow.

By cloud deployment mode, hybrid cloud segment to grow at the highest rate during the forecast period

With rapid demand for applications that can reside on different cloud infrastructures with the help of new technologies such as containerization and microservices, has helped increase demand for hybrid cloud infrastructure. It is a must to assess the movement of applications to hybrid cloud, wherein the best of both private and public cloud features can be utilized. Thereby, growing the requirement for hybrid cloud services at a fast pace.

North America to hold the largest market size during the forecast period

North America is expected to account for the largest market size in the application modernization services market by region during the forecast period. The region houses various service providers who are continuously engaged in delivering cloud based, and advanced technology infrastructure and solutions. Increasing need to reduce costs associated with software development and demand for better customer experience is expected to boost the adoption of application modernization services technology in North America.

Browse Full Report @ https://www.marketsandmarkets.com/Market-Reports/application-modernization-services-market-149625724.html

The application modernization services market comprises major solution providers, such as IBM (US), Atos (France), HCL (India), Capgemini (France), Bell Integrator (US), Blu Age (France), Cognizant (US), Aspire Systems (India), Dell (US), DXC Technology (US), EPAM Systems (US), Fujitsu (Japan), Hexaware (India), Infosys (India), Innova Solutions (US), LTI (US), Microfocus (UK), MongoDB (US), NTT Data (Japan), Oracle (US), Softura (US), TCS (India), Virtusa (US), and Wipro (India). The study includes an in-depth competitive analysis of key players in the application modernization services market with their company profiles, recent developments, and key market strategies.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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