Global Application Modernization Services Market: Booming Adoption of Digital Technologies, Market Expansion Forecast and Key Players from 2024 - 2029

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The report studies the growth trajectory of the global application modernization services market, highlighting the significant role played by digital technologies in driving this growth.

What Is The Projected Market Size Of The Global Application Modernization Services Market And Its Growth Rate?

The global application modernization services market has witnessed a significant growth due to various factors such as business process optimization, cost efficiency, user experience enhancement, and market competition among others. Here are some key statistics to note:
- The market size grew from $21.13 billion in 2024 to $24.58 billion in 2025, growing at a CAGR of 16.3%.
- The growth is projected to skyrocket in the coming years, with an expected market value of $51.92 billion in 2029 at a CAGR of 20.6%.
- The exponential growth during the forecast period can be attributed to factors such as mobile-first strategies, remote work dynamics, customer expectations, elastic scalability requirements, among others.

What Is Driving The Growth In The Application Modernization Services Market?

The growth of the application modernization services market is being driven by the increasing number of businesses deploying digital technologies and applications. These technologies enable businesses to upgrade their IT infrastructure and applications using state-of-the-art solutions. The global IT spending is expected to reach $5 trillion in 2024, marking an increased emphasis on digital technologies to improve operations and adapt to evolving market demands. Therefore, the surge in businesses deploying digital technologies and applications is stimulating the application modernization services market growth.

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Who Are the Key Players Driving Application Modernization Services Market Growth?

Noteworthy companies operating in the application modernization services market are:
- Aspire Systems Inc.
- Asysco Inc.
- Bell Integrator Inc.
- Blu Age Corp.
- Capgemini SE
- Cognizant Technology Solutions Corporation
- Dell Inc.
- DXC Technology Company
- EPAM Systems Inc.
- HCL Technologies Limited
- Hexaware Technologies Limited
- IBM Corporation
- Infosys Limited
- Micro Focus International PLC
- Microsoft Corporation
- Modern Systems Inc.
- Oracle Corporation
- Tata Consultancy Services Limited
- Tech Mahindra Limited, and many more.

What Are The Key Trends In The Application Modernization Services Market?

Notable trends in the forecast period include:
- Cloud-native adoption
- Microservices architecture
- Containerization and orchestration
- DevOps integration
- API-first approach
- Security and compliance
- Hybrid and multi-cloud strategies.

What Are The Segments Of The Global Application Modernization Services Market?

The application modernization services market can be segmented as:
- By Type: Cobol, ADA, PL Or 1, RPG, Assembler, PowerBuilder, Others
- By Cloud Deployment Mode: Private Cloud, Public Cloud, Hybrid Cloud
- By Application: Post Modernization, Application Portfolio Assignment, Ui Modernization, Cloud Application Mitigation, Application Integration, Application Re Platforming
- By Vertical: BFSI, Healthcare And Life Sciences, Telecommunications, IT And ITeS, Retail And Consumer Goods, Government And Public Sector, Energy And Utilities, Manufacturing, Others

Which Region Leads The Application Modernization Services Market?

North America was the largest region in the application modernization services market in 2024. The report also covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, Africa.

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What Is Covered In The Application Modernization Services Market Global Market Report?

- Market Size Analysis: Analyze the Application Modernization Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Application Modernization Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Application Modernization Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Application Modernization Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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