조사회사 : MarketsandMarkets (마켓츠앤마켓츠) 출판년월 : 2024년09월
Application Modernization Services Market – Global Forecast To 2029
애플리케이션 현대화 서비스 시장 – 서비스 유형(클라우드 애플리케이션 마이그레이션, 애플리케이션 재플랫폼화, 포스트모더나이제이션), 애플리케이션 유형(레거시, 클라우드 호스트, 클라우드 네이티브) – 2029년까지의 세계 예측
Application Modernization Services Market by Service Type (Cloud Application Migration, Application Re-Platforming, Post Modernization), Application Type (Legacy, Cloud-hosted, Cloud-native) – Global Forecast to 2029
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| Enterprise License | USD 10.000 |
| 구성 | 영문조사보고서 |
Report Overview
The Application modernization services market was estimated to be USD 19.82 billion in 2024 to USD 39.62 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 14.8%.
애플리케이션 현대화 서비스 시장은 연평균 복합 성장률(CAGR) 14.8%로 2024년 198억 2천만 달러에서 2029년 396억 2천만 달러에 이를 것으로 추산됩니다.
There are a few factors owing to which the application modernization services market is experiencing growth. As it is the era of very fast and advanced technological changes, a business cannot afford to take its eyes off the need to renew its old applications in order to stay in business and realize its efficiency. Often when the business has grown sufficiently in scope, coverage and even network, the legacy systems in place can hardly meet current business demands because they are constrained by scale, flexibility and even integration with new age technologies. The increased use of cloud technology is another key driver, with many organizations aiming to utilize cloud providers due to the size and low costs of operations offered by them. As a result of this digital evolution, companies have been forced to undergo the application transformation since it is important that such applications work well with advanced technologies like Artificial Intelligence, machine language and internet of things.
Moreover, with the increasing focus on securing data and compliance, organizations are also actively migrating their deployments to newer versions of applications developed to meet the changing needs of regulations aimed at addressing cybersecurity issues. Additionally, better performance of applications and improving user experience with such applications are another reason for enhanced modernization trends since every business strives to improve how its customers interact with the business digitally. The need to reduce operating costs at the same time increasing agility and speed to market is also a major factor as after application modernization, new features and services can be rolled out at a shorter period. Overall, these are the reasons for the high demand for services concerning application modernization as organizations want to redesign their technological frameworks in response to their strategic objectives and operational effectiveness.
“The Heathcare & Life Sciences vertical is expected to have second largest market size during the forecast period.” The healthcare and life sciences vertical is expected to hold the second highest market share in the application modernization services market next to telecom through the forecast period as it enhances the demand for advanced digital solutions. Therefore, the healthcare sector is witnessing a great transformation from the ever-growing adoption of electronic health records, telemedicine, and AI-driven diagnostics. It requires more efficient systems of IT that improve operational efficiency and facilitate better patient care while being in step regarding compliance with standards for the regulatory requirements. Demand for cloud solutions that ensure security and scalability along with the integration of new technologies with the existing systems further promotes growth in this space.
“The cloud-native applications segment will witness the highest growth during the forecast period.” In the application modernization services, owing to their vast potential for growth in aspects such as scalability, flexibility, and efficiency over and above the others, cloud-native applications are projected to have a greater increase within the forecasted period. On the other hand, while legacy applications offer services in a nutshell as one piece and more often rely on underlying physical structures, such as servers and data centers, cloud-native applications are cloud-centric and are constructed using enhanced structural designs such as that of microservices, containerized booting and scheduling management systems. This allows players in the industry to be able to change according to the changes in the business environment, increase the resources when need arises and minimize unnecessary operational costs. Besides, the increased use of cloud-based solutions and the maturing of cloud technologies help push the need for cloud-native applications because such solutions have outweighed the market challenges to deliver faster, better results, and optimized user experience. The most important technological trend has also been the continuous and sustained drive towards digitizing businesses’ processes for improved efficiency, which therefore means the development of able and responsive system solutions to the modern need for cloud based solutions will make transition to the more use of cloud-native applications more faster hence this explains the expected higher growth rate of such applications in the application modernization services market.
“Asia Pacific’s highest growth rate during the forecast period.”
The application modernization services market in the forecast period is anticipated to grow at a higher pace in the Asia-Pacific region owing to a number of underlying reasons. One of the reasons is the digital transformation of the region, which has been facilitated by the growing use of cloud computing and other emerging technologies as well as the quest for efficiency by business operations. There is an increase in IT spending and digital activities in countries like China and India, which creates a need for such services to modernize the aging management systems and incorporate new technologies. The growth of the sector is also enhanced by the efforts of global technology providers and the influx of local enterprises which are enhancing competition. The increasing affluence of the population as well as the trend towards a population that is more technologically inclined is another major factor that is increasing the need for sophisticated and high-capacity application modernization services within the region.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
- By Designation: C-level –50%, D-level – 30%, and Others – 20%
- By Region: North America – 38%, Europe – 15%, Asia Pacific – 35%, Middle East & Africa – 7%, and Latin America- 5%.
The major players in the Application modernization services market include Oracle (US), IBM (US), Microsoft (US), HCL Technologies (India), Accenture (Ireland), ATOS (France), Capgemini (France), Cognizant (US), TCS (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), EPAM Systems (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US), and Geomotiv (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their Application modernization services market footprint.
Research Coverage
The market study covers the application modernization services market size across different segments. It aims at estimating the market size and the growth potential across different segments, including service types, application types, verticals, and region. The service type includes application portfolio assessment, cloud application migration, application re-platforming, application integration, UI/UX modernization, and post modernization. Further, the application types include legacy applications, cloud-hosted applications, and cloud-native applications. The verticals include BFSI, Healthcrae & Life Sciences, Telecom, IT & ITeS, Retail & eCommerce, Government, Energy & Utilities, Transportation & Logistics, Media & Entertainment, and Manufacturing. The regional analysis of the Application modernization services market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the global Application modernization services market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (rising digital transformation initiatives, demand for flexibility and scalability through cloud computing, rapid technological advancements), restraints (high costs and complexity, legacy system dependencies), opportunities (emerging markets and SMEs, evolution of open standards for software development), and challenges (vendor lock-in and platform dependencies, managing technical debt) influencing the growth of the application modernization services market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the application modernization services market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the application modernization services market across various regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the application modernization services market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players Oracle (US), IBM (US), Microsoft (US), HCL Technologies (India), Accenture (Ireland), ATOS SE (France), Capgemini (France), Cognizant (US), Tata Consultancy Services (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), EPAM Systems (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US), and Geomotiv (US).
Table of Contents
1 INTRODUCTION 30
1.1 STUDY OBJECTIVES 30
1.2 MARKET DEFINITION 30
1.3 STUDY SCOPE 31
1.3.1 MARKET SEGMENTATION 31
1.3.2 INCLUSIONS & EXCLUSIONS 32
1.4 YEARS CONSIDERED 33
1.5 CURRENCY CONSIDERED 33
1.6 STAKEHOLDERS 34
1.7 SUMMARY OF CHANGES 34
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH DATA 36
2.1.1 SECONDARY DATA 37
2.1.2 PRIMARY DATA 37
2.1.2.1 Primary interviews with experts 37
2.1.2.2 Breakdown of primary profiles 38
2.1.2.3 Key insights from industry experts 38
2.2 MARKET SIZE ESTIMATION 39
2.2.1 TOP-DOWN APPROACH 39
2.2.2 BOTTOM-UP APPROACH 40
2.3 DATA TRIANGULATION 43
2.4 LIMITATIONS AND RISK ASSESSMENT 44
2.5 RESEARCH ASSUMPTIONS 44
2.6 LIMITATIONS 44
3 EXECUTIVE SUMMARY 45
4 PREMIUM INSIGHTS 48
4.1 OPPORTUNITIES FOR KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET 48
4.2 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE 48
4.3 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE 49
4.4 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL 49
4.5 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET: TOP THREE SERVICE TYPES AND VERTICALS 50
5 MARKET OVERVIEW AND INDUSTRY TRENDS 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
5.2.1 DRIVERS 52
5.2.1.1 Rise in digital transformation initiatives 52
5.2.1.2 Demand for flexibility and scalability through cloud computing 52
5.2.1.3 Rapid technological advancements 52
5.2.1.4 Shift toward modernization by cloud-native technologies 53
5.2.1.5 Stringent regulatory compliance and security 53
5.2.2 RESTRAINTS 53
5.2.2.1 High costs and complexity 53
5.2.2.2 Legacy system dependencies 53
5.2.3 OPPORTUNITIES 54
5.2.3.1 Proliferation of Kubernetes and containerization 54
5.2.3.2 Evolution of open standards for software development 54
5.2.3.3 Emerging markets and SMEs 54
5.2.3.4 Existence of large number of legacy applications 54
5.2.4 CHALLENGES 55
5.2.4.1 Vendor lock-in and platform dependencies 55
5.2.4.2 Managing technical debt 55
5.3 BRIEF HISTORY OF APPLICATION MODERNIZATION SERVICES 55
5.4 ECOSYSTEM ANALYSIS 56
5.5 CASE STUDY ANALYSIS 58
5.5.1 MODERNIZATION OF ATRUVIA AG’S BANKING APPLICATION 58
5.5.2 LEGACY SYSTEMS’ MODERNIZATION FOR BIOPHARMA BY HCL ON AWS 59
5.5.3 APPLICATION MODERNIZATION FOR LEADING MEDICAL LABORATORY RESULTING IN BETTER ROI 59
5.5.4 UNIPER ENERGY’S UK TRADING SOLUTIONS MODERNIZED BY INFOSYS 60
5.6 SUPPLY CHAIN ANALYSIS 60
5.7 REGULATORY LANDSCAPE 61
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 62
5.7.2 REGULATIONS 66
5.7.2.1 North America 66
5.7.2.1.1 US 66
5.7.2.1.2 Canada 67
5.7.2.2 Europe 67
5.7.2.2.1 UK 67
5.7.2.2.2 Germany 67
5.7.2.3 Asia Pacific 67
5.7.2.3.1 South Korea 67
5.7.2.3.2 China 68
5.7.2.3.3 Japan 68
5.7.2.3.4 India 68
5.7.2.4 Middle East & Africa 68
5.7.2.4.1 UAE 68
5.7.2.4.2 KSA 68
5.7.2.5 Latin America 68
5.7.2.5.1 Brazil 68
5.7.2.5.2 Mexico 68
5.8 PRICING ANALYSIS 69
5.8.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SERVICE TYPE 69
5.8.2 INDICATIVE PRICING ANALYSIS, BY SERVICE FEATURE 71
5.9 PORTER’S FIVE FORCES ANALYSIS 71
5.9.1 THREAT OF NEW ENTRANTS 72
5.9.2 THREAT OF SUBSTITUTES 73
5.9.3 BARGAINING POWER OF BUYERS 73
5.9.4 BARGAINING POWER OF SUPPLIERS 73
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 73
5.10 TECHNOLOGY ANALYSIS 73
5.10.1 KEY TECHNOLOGIES 73
5.10.1.1 Cloud platforms 73
5.10.1.2 Containerization 73
5.10.1.3 DevOps tools and CI/CD pipelines 74
5.10.1.4 Microservices architecture 74
5.10.1.5 API management platforms 74
5.10.1.6 Low-code/No-code platforms 74
5.10.2 ADJACENT TECHNOLOGIES 74
5.10.2.1 Edge computing 74
5.10.2.2 5G and Next-generation networks 74
5.10.2.3 Blockchain 74
5.10.2.4 Quantum computing 74
5.10.2.5 Augmented reality (AR) and virtual reality (VR) 75
5.10.3 COMPLEMENTARY TECHNOLOGIES 75
5.10.3.1 AI/ML integration 75
5.10.3.2 Robotic process automation (RPA) 75
5.10.3.3 Identity and access management (IAM) 75
5.10.3.4 Data lakes and data warehousing 75
5.10.3.5 Enterprise service bus (ESB) 75
5.11 PATENT ANALYSIS 75
5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 81
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 82
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 82
5.13.2 BUYING CRITERIA 83
5.14 KEY CONFERENCES AND EVENTS, 2024–2025 84
5.15 TECHNOLOGY ROADMAP FOR APPLICATION MODERNIZATION SERVICES MARKET 84
5.15.1 SHORT-TERM ROADMAP (2023–2025) 84
5.15.2 MID-TERM ROADMAP (2026–2028) 84
5.15.3 LONG-TERM ROADMAP (2029–2030) 85
5.16 BEST PRACTICES IN APPLICATION MODERNIZATION SERVICES MARKET 85
5.16.1 CONDUCT THOROUGH ASSESSMENT 85
5.16.2 DEFINE CLEAR GOALS AND OBJECTIVES 85
5.16.3 DEVELOP MODERNIZATION ROADMAP 85
5.16.4 CHOOSE RIGHT MODERNIZATION APPROACH 85
5.16.5 PRIORITIZE APPLICATIONS FOR MODERNIZATION 85
5.16.6 OPTIMIZE FOR CLOUD 85
5.16.7 ENSURE CONTINUOUS MONITORING AND OPTIMIZATION 86
5.16.8 ENGAGE STAKEHOLDERS THROUGHOUT PROCESS 86
5.17 CURRENT AND EMERGING BUSINESS MODELS 86
5.17.1 PLATFORM-AS-A-SERVICE (PAAS) 86
5.17.2 CONSULTATIVE SERVICES MODEL 86
5.17.3 OUTCOME-BASED MODELS 86
5.17.4 OPEN-SOURCE MODEL 86
5.17.5 CO-DEVELOPMENT MODEL 86
5.17.6 AUTOMATED MODELS 86
5.18 APPLICATION MODERNIZATION SERVICE TOOLS, FRAMEWORKS, AND TECHNIQUES 87
5.19 INVESTMENT AND FUNDING SCENARIO 87
5.20 IMPACT OF ARTIFICIAL INTELLIGENCE (AI)/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES 88
5.20.1 IMPACT OF AI/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES 88
5.20.2 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES 89
5.21 7 ‘R’S OF APPLICATION MODERNIZATION 90
5.21.1 REHOST 90
5.21.2 RE-PLATFORM 90
5.21.3 REFACTOR 90
5.21.4 REVISE 90
5.21.5 REBUILD 90
5.21.6 REPLACE 91
5.21.7 RETIRE 91
6 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE 92
6.1 INTRODUCTION 93
6.1.1 SERVICE TYPE: MARKET DRIVERS 93
6.1.2 APPLICATION PORTFOLIO ASSESSMENT 95
6.1.2.1 Need for strategic evaluation to streamline modernization paths to drive initial adoption of portfolio assessments 95
6.1.3 CLOUD APPLICATION MIGRATION 96
6.1.3.1 Rapid adoption of cloud infrastructure to support these services as businesses seek scalability and cost-efficiency 96
6.1.4 APPLICATION RE-PLATFORMING 97
6.1.4.1 Demand for performance optimization without complete rewrites 97
6.1.5 APPLICATION INTEGRATION 98
6.1.5.1 Increase in complexity of hybrid environments to drive need for seamless application integration across cloud and legacy systems 98
6.1.6 UI/UX MODERNIZATION 99
6.1.6.1 Growth in emphasis on user-centric digital experiences to sustain demand for UI/UX modernization 99
6.1.7 POST-MODERNIZATION SERVICES 100
6.1.7.1 Ongoing need for support in maintaining modernized applications to ensure steady, albeit slower, growth of post-modernization services 100
7 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE 102
7.1 INTRODUCTION 103
7.1.1 APPLICATION TYPE: MARKET DRIVERS 103
7.1.2 LEGACY APPLICATIONS 104
7.1.2.1 Need to reduce operational costs of legacy applications and integrate with modern technologies; their dominance set to decline as businesses shift to cloud solutions 104
7.1.3 CLOUD-HOSTED APPLICATIONS 105
7.1.3.1 Growth in demand for scalable and cost-efficient IT infrastructure to fuel adoption of cloud-hosted application modernization 105
7.1.4 CLOUD-NATIVE APPLICATIONS 106
7.1.4.1 Push for innovation, scalability, and speed in digital transformation to drive rapid adoption of cloud-native applications 106
8 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL 108
8.1 INTRODUCTION 109
8.1.1 VERTICAL: MARKET DRIVERS 109
8.2 BFSI 111
8.2.1 NEED FOR SECURE, SCALABLE, AND EFFICIENT FINANCIAL SERVICES 111
8.2.2 BFSI: APPLICATION MODERNIZATION SERVICE USE CASES 111
8.2.2.1 Core banking system modernization 111
8.2.2.2 Claims processing overhaul 111
8.2.2.3 Digital customer portals 111
8.2.2.4 Real-time risk management 111
8.2.2.5 Payment gateway integration 111
8.3 IT & ITES 112
8.3.1 NEED FOR AGILE SERVICE DELIVERY AND TECHNOLOGICAL INTEGRATION 112
8.3.2 IT & ITES: APPLICATION MODERNIZATION SERVICE USE CASES 113
8.3.2.1 ERP cloud migration 113
8.3.2.2 Unified IT management systems 113
8.3.2.3 Customer support systems modernization 113
8.3.2.4 Cloud-native software optimization 113
8.3.2.5 Hybrid cloud management systems 113
8.4 HEALTHCARE & LIFE SCIENCES 114
8.4.1 NEED FOR IMPROVED PATIENT CARE, DIGITAL HEALTH SOLUTIONS, AND EFFICIENT DATA MANAGEMENT 114
8.4.2 HEALTHCARE & LIFE SCIENCES: APPLICATION MODERNIZATION SERVICE USE CASES 114
8.4.2.1 EHR cloud migration 114
8.4.2.2 Pharmaceutical research modernization 114
8.4.2.3 Health insurance claims 114
8.4.2.4 Telemedicine platforms 115
8.4.2.5 Medical device connectivity 115
8.5 MANUFACTURING 116
8.5.1 DRIVE TOWARD SMART FACTORIES AND REAL-TIME SUPPLY CHAIN OPTIMIZATION 116
8.5.2 MANUFACTURING: APPLICATION MODERNIZATION SERVICE USE CASES 116
8.5.2.1 Smart factory implementations 116
8.5.2.2 Predictive maintenance solutions 116
8.5.2.3 Integrated supply chain management 116
8.5.2.4 Quality control enhancements 116
8.5.2.5 Collaborative robotics integration 116
8.6 TELECOM 117
8.6.1 RAPID GROWTH OF 5G NETWORKS AND DEMAND FOR ENHANCED SERVICE DELIVERY 117
8.6.2 TELECOM: APPLICATION MODERNIZATION SERVICE USE CASES 118
8.6.2.1 5G network management modernization 118
8.6.2.2 Cloud-based CRM systems 118
8.6.2.3 Billing system integration 118
8.6.2.4 Network automation 118
8.6.2.5 Self-service Portal modernization 118
8.7 TRANSPORTATION & LOGISTICS 119
8.7.1 DEMAND FOR REAL-TIME VISIBILITY AND OPERATIONAL EFFICIENCY 119
8.7.2 TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICE USE CASES 119
8.7.2.1 Cloud-based fleet management systems 119
8.7.2.2 Integrated warehouse management 119
8.7.2.3 Enhanced shipping portals 119
8.7.2.4 Visibility and responsiveness improvements 119
8.7.2.5 Predictive analytics for demand forecasting 120
8.8 MEDIA & ENTERTAINMENT 120
8.8.1 NEED FOR INNOVATIVE CONTENT DELIVERY AND PERSONALIZED VIEWER EXPERIENCES 120
8.8.2 MEDIA & ENTERTAINMENT: APPLICATION MODERNIZATION SERVICE USE CASES 121
8.8.2.1 Cloud-based Content Delivery Networks 121
8.8.2.2 Personalized User Experiences 121
8.8.2.3 Digital Asset Management Systems 121
8.8.2.4 Enhanced Audience Analytics 121
8.8.2.5 Integrated Marketing Solutions 121
8.9 RETAIL & ECOMMERCE 122
8.9.1 ADOPTION OF PERSONALIZED CUSTOMER EXPERIENCES AND STREAMLINED OPERATIONS 122
8.9.2 RETAIL & ECOMMERCE: APPLICATION MODERNIZATION SERVICE USE CASES 122
8.9.2.1 Cloud-based inventory management 122
8.9.2.2 Customer loyalty program modernization 122
8.9.2.3 POS and eCommerce integration 122
8.9.2.4 Demand forecasting modernization 122
8.9.2.5 Scalable eCommerce platforms 123
8.10 GOVERNMENT 123
8.10.1 NEED FOR ENHANCED CITIZEN ENGAGEMENT AND EFFICIENT SERVICE DELIVERY 123
8.10.2 GOVERNMENT: APPLICATION MODERNIZATION SERVICE USE CASES 124
8.10.2.1 Citizen services cloud migration 124
8.10.2.2 Document management system overhaul 124
8.10.2.3 Inter-agency communication integration 124
8.10.2.4 User-friendly public service apps 124
8.10.2.5 Disaster recovery planning 124
8.11 OTHER VERTICALS 125
8.11.1 OTHER VERTICALS: APPLICATION MODERNIZATION SERVICE USE CASES 125
8.11.1.1 Cloud-based booking systems 125
8.11.1.2 Personalized travel recommendations 125
8.11.1.3 Cloud-based student information systems 125
8.11.1.4 Interactive virtual classrooms 126
8.11.1.5 Adaptive learning platforms 126
9 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION 127
9.1 INTRODUCTION 128
9.2 NORTH AMERICA 129
9.2.1 NORTH AMERICA: MACROECONOMIC OUTLOOK 129
9.2.2 US 133
9.2.2.1 Rise in prevalence of AI advancements, automation, and next-gen network technologies 133
9.2.3 CANADA 136
9.2.3.1 Government-backed digital initiatives and cloud adoption to fuel modernization across public and private sectors 136
9.3 EUROPE 139
9.3.1 EUROPE: MACROECONOMIC OUTLOOK 139
9.3.2 UK 143
9.3.2.1 Stringent regulations support adoption of application modernization services in UK 143
9.3.3 GERMANY 146
9.3.3.1 Strong focus on Industry 4.0 and smart manufacturing and need for advanced networking solutions 146
9.3.4 FRANCE 147
9.3.4.1 Increased demand for digital services and automation to boost modernization across sectors 147
9.3.5 ITALY 147
9.3.5.1 Transformation of legacy infrastructure, particularly in finance and telecom 147
9.3.6 SPAIN 147
9.3.6.1 Fast-paced digital transformation environment to push modernization across verticals such as retail and government 147
9.3.7 NORDICS 148
9.3.7.1 Strong cloud-native adoption and focus on digital-first strategies to lead modernization efforts 148
9.3.8 REST OF EUROPE 148
9.4 ASIA PACIFIC 148
9.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK 149
9.4.2 CHINA 154
9.4.2.1 Significant investments by key players and need for rapid development and adoption of new technologies 154
9.4.3 JAPAN 157
9.4.3.1 Increase in adoption of advanced technologies and integration with AI and automation 157
9.4.4 INDIA 157
9.4.4.1 Growing focus on cloud and network connectivity powered by AI technology 157
9.4.5 AUSTRALIA & NEW ZEALAND 157
9.4.5.1 Stricter data protection regulations to influence development of secure solutions 157
9.4.6 SOUTH KOREA 158
9.4.6.1 Heavy investments by businesses and governments toward digital transformation 158
9.4.7 SOUTHEAST ASIA 158
9.4.7.1 Adoption of cloud-native solutions to act as primary driver of modernization across industries 158
9.4.8 REST OF ASIA PACIFIC 158
9.5 MIDDLE EAST & AFRICA 159
9.5.1 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK 159
9.5.1.1 MIDDLE EAST 163
9.5.1.2 UAE 166
9.5.1.2.1 Economic Vision 2030’s focus on digital transformation to key driver for modernization in public and private sectors 166
9.5.1.3 KSA 169
9.5.1.3.1 Saudi’s need for digital transformation driven by Vision 2030 agenda 169
9.5.1.4 Kuwait 169
9.5.1.4.1 Modernization and digital infrastructure improvements to boost application modernization services market growth 169
9.5.1.5 Bahrain 170
9.5.1.5.1 Need for cloud-first policies and government-driven digitalization 170
9.5.1.6 Rest of the Middle East 170
9.5.2 AFRICA 170
9.5.2.1 Growing need for digital infrastructure and modernized telecom and financial systems 170
9.6 LATIN AMERICA 171
9.6.1 LATIN AMERICA: MACROECONOMIC OUTLOOK 171
9.6.2 BRAZIL 175
9.6.2.1 Ongoing investments in telecom infrastructure and modernization projects 175
9.6.3 MEXICO 178
9.6.3.1 Shift toward cloud modernization in public and financial sectors 178
9.6.4 REST OF LATIN AMERICA 178
10 COMPETITIVE LANDSCAPE 179
10.1 INTRODUCTION 179
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 179
10.3 REVENUE ANALYSIS 181
10.4 MARKET SHARE ANALYSIS 182
10.4.1 MARKET RANKING ANALYSIS 183
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 186
10.5.1 STARS 186
10.5.2 EMERGING LEADERS 186
10.5.3 PERVASIVE PLAYERS 186
10.5.4 PARTICIPANTS 186
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 188
10.5.5.1 Company footprint 188
10.5.5.2 Service type footprint 189
10.5.5.3 Application type footprint 190
10.5.5.4 Vertical footprint 191
10.5.5.5 Regional footprint 193
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 194
10.6.1 PROGRESSIVE COMPANIES 194
10.6.2 RESPONSIVE COMPANIES 194
10.6.3 DYNAMIC COMPANIES 194
10.6.4 STARTING BLOCKS 195
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 196
10.6.5.1 Key startups/SMEs 196
10.6.5.2 Competitive benchmarking of key startups/SMEs 197
10.7 COMPANY VALUATION AND FINANCIAL METRICS 198
10.8 BRAND/PRODUCT COMPARISON 199
10.9 COMPETITIVE SCENARIO AND TRENDS 200
10.9.1 PRODUCT LAUNCHES 200
10.9.2 DEALS 201
11 COMPANY PROFILES 204
11.1 KEY PLAYERS 204
11.1.1 IBM 204
11.1.1.1 Business overview 204
11.1.1.2 Products/Solutions/Services offered 205
11.1.1.3 Recent developments 206
11.1.1.3.1 Product launches 206
11.1.1.3.2 Deals 207
11.1.1.4 MnM view 208
11.1.1.4.1 Key strengths 208
11.1.1.4.2 Strategic choices made 209
11.1.1.4.3 Weaknesses and competitive threats 209
11.1.2 HCL TECHNOLOGIES 210
11.1.2.1 Business overview 210
11.1.2.2 Products/Solutions/Services offered 211
11.1.2.3 Recent developments 212
11.1.2.3.1 Product launches 212
11.1.2.3.2 Deals 214
11.1.2.4 MnM view 216
11.1.2.4.1 Key strengths 216
11.1.2.4.2 Strategic choices made 216
11.1.2.4.3 Weaknesses and competitive threats 216
11.1.3 ATOS 217
11.1.3.1 Business overview 217
11.1.3.2 Platforms/Solutions/Services offered 218
11.1.3.3 Recent developments 219
11.1.3.3.1 Product launches 219
11.1.3.3.2 Deals 219
11.1.3.4 MnM view 221
11.1.3.4.1 Key strengths 221
11.1.3.4.2 Strategic choices made 221
11.1.3.4.3 Weaknesses and competitive threats 221
11.1.4 CAPGEMINI 222
11.1.4.1 Business overview 222
11.1.4.2 Platforms/Solutions/Services offered 223
11.1.4.3 Recent developments 224
11.1.4.3.1 Product launches 224
11.1.4.3.2 Deals 224
11.1.4.4 MnM view 228
11.1.4.4.1 Key strengths 228
11.1.4.4.2 Strategic choices made 228
11.1.4.4.3 Weaknesses and competitive threats 228
11.1.5 ACCENTURE 229
11.1.5.1 Business overview 229
11.1.5.2 Platforms/Solutions/Services offered 230
11.1.5.3 Recent developments 231
11.1.5.3.1 Product launches 231
11.1.5.3.2 Deals 232
11.1.5.4 MnM view 234
11.1.5.4.1 Key strengths 234
11.1.5.4.2 Strategic choices made 234
11.1.5.4.3 Weaknesses and competitive threats 234
11.1.6 MICROSOFT 235
11.1.6.1 Business overview 235
11.1.6.2 Products/Solutions/Services offered 236
11.1.6.3 Recent developments 237
11.1.6.3.1 Product launches 237
11.1.6.3.2 Deals 238
11.1.6.4 MnM view 240
11.1.6.4.1 Key strengths 240
11.1.6.4.2 Strategic choices made 240
11.1.6.4.3 Weaknesses and competitive threats 240
11.1.7 ORACLE 241
11.1.7.1 Business overview 241
11.1.7.2 Products/Solutions/Services offered 242
11.1.7.3 Recent developments 243
11.1.7.3.1 Product launches 243
11.1.7.3.2 Deals 245
11.1.7.4 MnM view 247
11.1.7.4.1 Key strengths 247
11.1.7.4.2 Strategic choices made 247
11.1.7.4.3 Weaknesses and competitive threats 247
11.1.8 COGNIZANT 248
11.1.8.1 Business overview 248
11.1.8.2 Platforms/Solutions/Services offered 249
11.1.8.3 Recent developments 250
11.1.8.3.1 Product launches 250
11.1.8.3.2 Deals 250
11.1.9 TCS 253
11.1.9.1 Business overview 253
11.1.9.2 Platforms/Solutions/Services offered 254
11.1.9.3 Recent developments 255
11.1.9.3.1 Product launches 255
11.1.9.3.2 Deals 256
11.1.10 INNOVA SOLUTIONS 260
11.1.11 EPAM SYSTEMS 261
11.1.12 ASPIRE SYSTEMS 262
11.1.13 NTT DATA 263
11.1.14 DELL TECHNOLOGIES 264
11.1.15 DXC TECHNOLOGY 265
11.1.16 LTIMINDTREE 266
11.1.17 INFOSYS 267
11.1.18 WIPRO 268
11.1.19 ROCKET SOFTWARE, INC. 270
11.1.20 FUJITSU 271
11.1.21 HEXAWARE TECHNOLOGIES 272
11.1.22 VIRTUSA 273
11.1.23 MONGODB 274
11.2 STARTUPS/SMES 275
11.2.1 SOFTURA 275
11.2.2 CLOUDHEDGE TECHNOLOGIES PVT. LTD. 276
11.2.3 D3V TECHNOLOGY 277
11.2.4 BAYSHORE INTELLIGENCE SOLUTIONS 278
11.2.5 OPINOV8 279
11.2.6 ICREON 280
11.2.7 SYMPHONY SOLUTIONS 281
11.2.8 CLEVEROAD 282
11.2.9 TECHAHEAD 283
11.2.10 GEOMOTIV 284
11.2.11 SOFT SUAVE 285
12 ADJACENT/RELATED MARKETS 286
12.1 INTRODUCTION 286
12.1.1 RELATED MARKETS 286
12.2 CLOUD PROFESSIONAL SERVICES MARKET 286
12.2.1 MARKET DEFINITION 286
12.3 SYSTEM INTEGRATION SERVICES MARKET 291
12.3.1 MARKET DEFINITION 291
13 APPENDIX 294
13.1 DISCUSSION GUIDE 294
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 297
13.3 CUSTOMIZATION OPTIONS 299
13.4 RELATED REPORTS 299
13.5 AUTHOR DETAILS 300
LIST OF TABLES
TABLE 1 USD EXCHANGE RATES, 2019–2023 34
TABLE 2 APPLICATION MODERNIZATION SERVICES MARKET: ECOSYSTEM 57
TABLE 3 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 62
TABLE 4 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 63
TABLE 5 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 64
TABLE 6 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 65
TABLE 7 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE 70
TABLE 8 INDICATIVE PRICING LEVELS OF APPLICATION MODERNIZATION SERVICES 71
TABLE 9 PORTER’S FIVE FORCES IMPACT ON APPLICATION MODERNIZATION
SERVICES MARKET 72
TABLE 10 LIST OF KEY PATENTS 77
TABLE 11 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 82
TABLE 12 KEY BUYING CRITERIA FOR TOP THREE END USERS 83
TABLE 13 APPLICATION MODERNIZATION SERVICES MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2024–2025 84
TABLE 14 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 94
TABLE 15 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2024–2029 (USD MILLION) 94
TABLE 16 APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 95
TABLE 17 APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 96
TABLE 18 CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 96
TABLE 19 CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 97
TABLE 20 APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 97
TABLE 21 APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 98
TABLE 22 APPLICATION INTEGRATION SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 98
TABLE 23 APPLICATION INTEGRATION SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 99
TABLE 24 UI/UX MODERNIZATION SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 99
TABLE 25 UI/UX MODERNIZATION SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 100
TABLE 26 POST-MODERNIZATION SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 100
TABLE 27 POST-MODERNIZATION SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 101
TABLE 28 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE,
2018–2023 (USD MILLION) 104
TABLE 29 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE,
2024–2029 (USD MILLION) 104
TABLE 30 LEGACY APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 105
TABLE 31 LEGACY APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 105
TABLE 32 CLOUD-HOSTED APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION) 106
TABLE 33 CLOUD-HOSTED APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION) 106
TABLE 34 CLOUD-NATIVE APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION) 107
TABLE 35 CLOUD-NATIVE APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION) 107
TABLE 36 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 110
TABLE 37 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 110
TABLE 38 APPLICATION MODERNIZATION SERVICES MARKET IN BFSI, BY REGION,
2018–2023 (USD MILLION) 112
TABLE 39 APPLICATION MODERNIZATION SERVICES MARKET IN BFSI, BY REGION,
2024–2029 (USD MILLION) 112
TABLE 40 APPLICATION MODERNIZATION SERVICES MARKET IN IT & ITES, BY REGION, 2018–2023 (USD MILLION) 113
TABLE 41 APPLICATION MODERNIZATION SERVICES MARKET IN IT & ITES, BY REGION, 2024–2029 (USD MILLION) 114
TABLE 42 APPLICATION MODERNIZATION SERVICES MARKET IN HEALTHCARE & LIFE SCIENCES, BY REGION, 2018–2023 (USD MILLION) 115
TABLE 43 APPLICATION MODERNIZATION SERVICES MARKET IN HEALTHCARE & LIFE SCIENCES, BY REGION, 2024–2029 (USD MILLION) 115
TABLE 44 APPLICATION MODERNIZATION SERVICES MARKET IN MANUFACTURING,
BY REGION, 2018–2023 (USD MILLION) 117
TABLE 45 APPLICATION MODERNIZATION SERVICES MARKET IN MANUFACTURING,
BY REGION, 2024–2029 (USD MILLION) 117
TABLE 46 APPLICATION MODERNIZATION SERVICES MARKET IN TELECOM, BY REGION, 2018–2023 (USD MILLION) 118
TABLE 47 APPLICATION MODERNIZATION SERVICES MARKET IN TELECOM, BY REGION, 2024–2029 (USD MILLION) 119
TABLE 48 TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2018–2023 (USD MILLION) 120
TABLE 49 TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2024–2029 (USD MILLION) 120
TABLE 50 APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT, BY REGION, 2018–2023 (USD MILLION) 121
TABLE 51 APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT, BY REGION, 2024–2029 (USD MILLION) 122
TABLE 52 APPLICATION MODERNIZATION SERVICES MARKET IN RETAIL & ECOMMERCE,
BY REGION, 2018–2023 (USD MILLION) 123
TABLE 53 APPLICATION MODERNIZATION SERVICES MARKET IN RETAIL & ECOMMERCE,
BY REGION, 2024–2029 (USD MILLION) 123
TABLE 54 APPLICATION MODERNIZATION SERVICES MARKET IN GOVERNMENT, BY REGION, 2018–2023 (USD MILLION) 124
TABLE 55 APPLICATION MODERNIZATION SERVICES MARKET IN GOVERNMENT, BY REGION, 2024–2029 (USD MILLION) 125
TABLE 56 APPLICATION MODERNIZATION SERVICES MARKET IN OTHER VERTICALS,
BY REGION, 2018–2023 (USD MILLION) 126
TABLE 57 APPLICATION MODERNIZATION SERVICES MARKET IN OTHER VERTICALS,
BY REGION, 2024–2029 (USD MILLION) 126
TABLE 58 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2018–2023 (USD MILLION) 128
TABLE 59 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2024–2029 (USD MILLION) 128
TABLE 60 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2018–2023 (USD MILLION) 130
TABLE 61 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2024–2029 (USD MILLION) 131
TABLE 62 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2023 (USD MILLION) 131
TABLE 63 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2024–2029 (USD MILLION) 131
TABLE 64 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2023 (USD MILLION) 132
TABLE 65 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2024–2029 (USD MILLION) 132
TABLE 66 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY, 2018–2023 (USD MILLION) 133
TABLE 67 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY, 2024–2029 (USD MILLION) 133
TABLE 68 US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 134
TABLE 69 US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2024–2029 (USD MILLION) 134
TABLE 70 US: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 134
TABLE 71 US: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 135
TABLE 72 US: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 135
TABLE 73 US: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 136
TABLE 74 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 137
TABLE 75 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 137
TABLE 76 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 137
TABLE 77 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 138
TABLE 78 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 138
TABLE 79 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 139
TABLE 80 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 140
TABLE 81 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 140
TABLE 82 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 141
TABLE 83 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 141
TABLE 84 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 141
TABLE 85 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 142
TABLE 86 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY/SUBREGION, 2018–2023 (USD MILLION) 142
TABLE 87 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY/SUBREGION, 2024–2029 (USD MILLION) 143
TABLE 88 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2018–2023 (USD MILLION) 144
TABLE 89 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2024–2029 (USD MILLION) 144
TABLE 90 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 144
TABLE 91 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 145
TABLE 92 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 145
TABLE 93 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 146
TABLE 94 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 151
TABLE 95 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 151
TABLE 96 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 151
TABLE 97 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 152
TABLE 98 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 152
TABLE 99 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 153
TABLE 100 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY/SUBREGION, 2018–2023 (USD MILLION) 153
TABLE 101 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY/SUBREGION, 2024–2029 (USD MILLION) 154
TABLE 102 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 154
TABLE 103 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 155
TABLE 104 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 155
TABLE 105 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 155
TABLE 106 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 156
TABLE 107 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 156
TABLE 108 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2018–2023 (USD MILLION) 160
TABLE 109 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2024–2029 (USD MILLION) 160
TABLE 110 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2023 (USD MILLION) 160
TABLE 111 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2024–2029 (USD MILLION) 161
TABLE 112 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2023 (USD MILLION) 161
TABLE 113 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2024–2029 (USD MILLION) 162
TABLE 114 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SUBREGION, 2018–2023 (USD MILLION) 162
TABLE 115 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SUBREGION, 2024–2029 (USD MILLION) 162
TABLE 116 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 163
TABLE 117 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 164
TABLE 118 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 164
TABLE 119 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 164
TABLE 120 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 165
TABLE 121 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 165
TABLE 122 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2018–2023 (USD MILLION) 166
TABLE 123 MIDDLE EAST: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 166
TABLE 124 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 167
TABLE 125 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 167
TABLE 126 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 167
TABLE 127 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 168
TABLE 128 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 168
TABLE 129 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 169
TABLE 130 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 172
TABLE 131 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 172
TABLE 132 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2023 (USD MILLION) 172
TABLE 133 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2024–2029 (USD MILLION) 173
TABLE 134 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2023 (USD MILLION) 173
TABLE 135 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 174
TABLE 136 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2018–2023 (USD MILLION) 174
TABLE 137 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 174
TABLE 138 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2023 (USD MILLION) 175
TABLE 139 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2024–2029 (USD MILLION) 176
TABLE 140 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2023 (USD MILLION) 176
TABLE 141 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2024–2029 (USD MILLION) 176
TABLE 142 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2023 (USD MILLION) 177
TABLE 143 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2024–2029 (USD MILLION) 177
TABLE 144 OVERVIEW OF STRATEGIES ADOPTED BY KEY APPLICATION MODERNIZATION SERVICES PLAYERS 179
TABLE 145 APPLICATION MODERNIZATION SERVICES MARKET: DEGREE OF COMPETITION 183
TABLE 146 SERVICE TYPE FOOTPRINT, 2023 189
TABLE 147 APPLICATION TYPE FOOTPRINT, 2023 190
TABLE 148 VERTICAL FOOTPRINT, 2023 191
TABLE 149 REGIONAL FOOTPRINT, 2023 193
TABLE 150 APPLICATION MODERNIZATION SERVICES MARKET: KEY STARTUPS/SMES, 2023 196
TABLE 151 APPLICATION MODERNIZATION SERVICES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES, 2023 197
TABLE 152 APPLICATION MODERNIZATION SERVICES MARKET: PRODUCT LAUNCHES, JANUARY 2022–AUGUST 2024 200
TABLE 153 APPLICATION MODERNIZATION SERVICES MARKET: DEALS, JANUARY 2022–AUGUST 2024 202
TABLE 154 IBM: COMPANY OVERVIEW 204
TABLE 155 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 205
TABLE 156 IBM: PRODUCT LAUNCHES 206
TABLE 157 IBM: DEALS 207
TABLE 158 HCL TECHNOLOGIES: COMPANY OVERVIEW 210
TABLE 159 HCL TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 211
TABLE 160 HCL TECHNOLOGIES: PRODUCT LAUNCHES 212
TABLE 161 HCL TECHNOLOGIES: DEALS 214
TABLE 162 ATOS: COMPANY OVERVIEW 217
TABLE 163 ATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 164 ATOS: PRODUCT LAUNCHES 219
TABLE 165 ATOS: DEALS 219
TABLE 166 CAPGEMINI: COMPANY OVERVIEW 222
TABLE 167 CAPGEMINI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
TABLE 168 CAPGEMINI: PRODUCT LAUNCHES 224
TABLE 169 CAPGEMINI: DEALS 224
TABLE 170 ACCENTURE: COMPANY OVERVIEW 229
TABLE 171 ACCENTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 230
TABLE 172 ACCENTURE: PRODUCT LAUNCHES 231
TABLE 173 ACCENTURE: DEALS 232
TABLE 174 MICROSOFT: COMPANY OVERVIEW 235
TABLE 175 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 236
TABLE 176 MICROSOFT: PRODUCT LAUNCHES 237
TABLE 177 MICROSOFT: DEALS 238
TABLE 178 ORACLE: COMPANY OVERVIEW 241
TABLE 179 ORACLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 242
TABLE 180 ORACLE: PRODUCT LAUNCHES 243
TABLE 181 ORACLE: DEALS 245
TABLE 182 COGNIZANT: COMPANY OVERVIEW 248
TABLE 183 COGNIZANT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 249
TABLE 184 COGNIZANT: PRODUCT LAUNCHES 250
TABLE 185 COGNIZANT: DEALS 250
TABLE 186 TCS: COMPANY OVERVIEW 253
TABLE 187 TCS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 254
TABLE 188 TCS: PRODUCT LAUNCHES 255
TABLE 189 TCS: DEALS 256
TABLE 190 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE TYPE,
2019–2022 (USD MILLION) 287
TABLE 191 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE TYPE,
2023–2028 (USD MILLION) 287
TABLE 192 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE MODEL,
2019–2022 (USD MILLION) 287
TABLE 193 CLOUD PROFESSIONAL SERVICES MARKET, BY SERVICE MODEL,
2023–2028 (USD MILLION) 288
TABLE 194 CLOUD PROFESSIONAL SERVICES MARKET, BY DEPLOYMENT MODEL,
2019–2022 (USD MILLION) 288
TABLE 195 CLOUD PROFESSIONAL SERVICES MARKET, BY DEPLOYMENT MODEL,
2023–2028 (USD MILLION) 288
TABLE 196 CLOUD PROFESSIONAL SERVICES MARKET, BY ORGANIZATION SIZE,
2019–2022 (USD MILLION) 288
TABLE 197 CLOUD PROFESSIONAL SERVICES MARKET, BY ORGANIZATION SIZE,
2023–2028 (USD MILLION) 289
TABLE 198 CLOUD PROFESSIONAL SERVICES MARKET, BY VERTICAL,
2019–2022 (USD MILLION) 289
TABLE 199 CLOUD PROFESSIONAL SERVICES MARKET, BY VERTICAL,
2023–2028 (USD MILLION) 290
TABLE 200 CLOUD PROFESSIONAL SERVICES MARKET, BY REGION,
2019–2022 (USD MILLION) 290
TABLE 201 CLOUD PROFESSIONAL SERVICES MARKET, BY REGION,
2023–2028 (USD MILLION) 290
TABLE 202 SYSTEM INTEGRATION SERVICES MARKET, BY SERVICE TYPE,
2017–2022 (USD MILLION) 291
TABLE 203 SYSTEM INTEGRATION SERVICES MARKET, BY SERVICE TYPE,
2023–2028 (USD MILLION) 291
TABLE 204 SYSTEM INTEGRATION SERVICES MARKET, BY VERTICAL,
2017–2022 (USD MILLION) 292
TABLE 205 SYSTEM INTEGRATION SERVICES MARKET, BY VERTICAL,
2023–2028 (USD MILLION) 292
TABLE 206 SYSTEM INTEGRATION SERVICES MARKET, BY REGION,
2017–2022 (USD MILLION) 292
TABLE 207 SYSTEM INTEGRATION SERVICES MARKET, BY REGION,
2023–2028 (USD MILLION) 293
LIST OF FIGURES
FIGURE 1 APPLICATION MODERNIZATION SERVICES MARKET SEGMENTATION 31
FIGURE 2 APPLICATION MODERNIZATION SERVICES MARKET: RESEARCH DESIGN 36
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION,
AND REGION 38
FIGURE 4 KEY INDUSTRY INSIGHTS 38
FIGURE 5 APPLICATION MODERNIZATION SERVICES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 39
FIGURE 6 APPROACH 1 (SUPPLY SIDE): REVENUE OF VENDORS IN APPLICATION MODERNIZATION SERVICES MARKET 40
FIGURE 7 APPROACH 2 (DEMAND SIDE): APPLICATION MODERNIZATION SERVICES MARKET 41
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS 41
FIGURE 9 MARKET SIZE ESTIMATION USING BOTTOM-UP APPROACH 42
FIGURE 10 DATA TRIANGULATION 43
FIGURE 11 APPLICATION MODERNIZATION SERVICES MARKET, 2022–2029 (USD MILLION) 46
FIGURE 12 APPLICATION MODERNIZATION SERVICES MARKET OVERVIEW, BY REGION, 2024 47
FIGURE 13 RAPID ADOPTION OF CLOUD TECHNOLOGIES AND NEED FOR OPERATIONAL AGILITY TO DRIVE MARKET GROWTH 48
FIGURE 14 CLOUD APPLICATION MIGRATION SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 48
FIGURE 15 CLOUD-HOSTED APPLICATIONS TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD 49
FIGURE 16 BFSI VERTICAL TO ACCOUNT FOR LARGEST MARKET SHARE DURING
FORECAST PERIOD 49
FIGURE 17 CLOUD APPLICATION MIGRATION AND TELECOM SEGMENTS TO ACCOUNT FOR SIGNIFICANT MARKET SHARES IN 2024 50
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: APPLICATION MODERNIZATION SERVICES MARKET 51
FIGURE 19 EVOLUTION OF APPLICATION MODERNIZATION SERVICES 55
FIGURE 20 KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET ECOSYSTEM 58
FIGURE 21 APPLICATION MODERNIZATION SERVICES MARKET: SUPPLY CHAIN ANALYSIS 61
FIGURE 22 AVERAGE SELLING PRICES OF KEY PLAYERS, BY SERVICE TYPE (USD) 69
FIGURE 23 APPLICATION MODERNIZATION SERVICES MARKET: PORTER’S FIVE
FORCES ANALYSIS 72
FIGURE 24 PATENT ANALYSIS FOR APPLICATION MODERNIZATION SERVICES, 2013–2023 76
FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 81
FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS 82
FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE END USERS 83
FIGURE 28 APPLICATION MODERNIZATION SERVICE TOOLS, FRAMEWORKS, AND TECHNIQUES 87
FIGURE 29 INVESTMENT AND FUNDING SCENARIO, 2022–2024 (USD MILLION) 87
FIGURE 30 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES 89
FIGURE 31 CLOUD APPLICATION MIGRATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 93
FIGURE 32 CLOUD-NATIVE SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 103
FIGURE 33 TELECOM SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 109
FIGURE 34 NORTH AMERICA: MARKET SNAPSHOT 130
FIGURE 35 ASIA PACIFIC: MARKET SNAPSHOT 150
FIGURE 36 REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 (USD MILLION) 181
FIGURE 37 SHARE OF LEADING COMPANIES IN APPLICATION MODERNIZATION SERVICES MARKET, 2023 182
FIGURE 38 MARKET RANKING ANALYSIS OF TOP FIVE PLAYERS 183
FIGURE 39 APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 187
FIGURE 40 COMPANY FOOTPRINT, 2023 188
FIGURE 41 APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 195
FIGURE 42 FINANCIAL METRICS OF KEY APPLICATION MODERNIZATION SERVICES
VENDORS, 2024 198
FIGURE 43 COMPANY VALUATION OF KEY APPLICATION MODERNIZATION SERVICES VENDORS, 2024 (USD BILLION) 198
FIGURE 44 BRAND/PRODUCT COMPARISON 199
FIGURE 45 IBM: COMPANY SNAPSHOT 205
FIGURE 46 HCL TECHNOLOGIES: COMPANY SNAPSHOT 211
FIGURE 47 ATOS: COMPANY SNAPSHOT 218
FIGURE 48 CAPGEMINI: COMPANY SNAPSHOT 223
FIGURE 49 ACCENTURE: COMPANY SNAPSHOT 230
FIGURE 50 MICROSOFT: COMPANY SNAPSHOT 236
FIGURE 51 ORACLE: COMPANY SNAPSHOT 242
FIGURE 52 COGNIZANT: COMPANY SNAPSHOT 249
FIGURE 53 TCS: COMPANY SNAPSHOT 254
