Application Modernization Services Market – Global Forecast To 2031
애플리케이션 현대화 서비스 시장 – 서비스 유형(클라우드 애플리케이션 마이그레이션, 애플리케이션 재플랫폼, 포스트모던화), 애플리케이션 유형(레거시, 클라우드 호스팅, 클라우드 네이티브) – 2030년까지의 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 2031
| 조사회사 | MarketsandMarkets |
| 출판년월 | 2025년10월 |
| 페이지 수 | 340 |
| 도표 수 | 328 |
| 라이센스 | Single User License |
| 가격 | USD 4,950 |
| 구성 | 영문조사보고서 |
애플리케이션 현대화 서비스 시장은 2025년에 226억 7천만 달러 규모로 추산되었으며, 2031년까지 연평균 성장률(CAGR) 14.6%로 514억 5천만 달러에 이를 것으로 예상됩니다.
애플리케이션 현대화 서비스 시장이 성장하는 데에는 몇 가지 요인이 있습니다. 급속한 기술 발전 시대에 기업은 경쟁력을 유지하고 효율성을 높이기 위해 기존 애플리케이션을 업데이트해야 할 필요성을 간과해서는 안 됩니다. 기업의 범위, 적용 범위, 네트워크가 충분히 성장하더라도 기존 시스템은 확장성, 유연성, 그리고 신기술과의 통합이라는 제약으로 인해 현재의 비즈니스 요구를 충족하기 어려운 경우가 많습니다. 클라우드 기술 사용 증가는 또 다른 주요 성장 동력으로, 많은 기업이 운영의 확장성과 비용 효율성 때문에 클라우드 공급업체를 활용하고자 합니다. 이러한 디지털 진화의 결과로 기업들은 인공지능, 머신러닝, 사물인터넷과 같은 첨단 기술과 원활하게 통합되는 애플리케이션 혁신을 추진해야 했습니다.
본 시장 조사는 다양한 부문에 걸친 애플리케이션 현대화 서비스 시장 규모를 다룹니다. 서비스 유형, 애플리케이션 유형, 업종 및 지역을 포함한 다양한 부문의 시장 규모와 성장 잠재력을 추정하는 것을 목표로 합니다. 서비스 유형에는 애플리케이션 포트폴리오 평가, 클라우드 애플리케이션 마이그레이션, 애플리케이션 리플랫포밍, 애플리케이션 통합, UI/UX 현대화, 포스트모던화가 포함됩니다. 또한, 애플리케이션 유형에는 레거시 애플리케이션, 클라우드 호스팅 애플리케이션, 클라우드 네이티브 애플리케이션이 포함됩니다. 업종에는 BFSI, 의료 및 생명 과학, 통신, IT 및 ITeS, 소매 및 전자상거래, 정부, 에너지 및 유틸리티, 운송 및 물류, 미디어 및 엔터테인먼트, 제조업이 포함됩니다. 애플리케이션 현대화 서비스 시장의 지역 분석은 북미, 유럽, 아시아 태평양, 중동 및 아프리카, 라틴 아메리카를 포함합니다. 본 조사는 주요 시장 참여 기업, 회사 프로필, 제품 및 사업 제안과 관련된 주요 관찰 결과, 최근 동향, 시장 전략에 대한 심층적인 경쟁 분석을 포함합니다.
본 보고서는 시장 선도 기업/신규 진입 기업들에게 글로벌 애플리케이션 현대화 서비스 시장의 매출 규모와 세부 부문에 대한 가장 근사치에 대한 정보를 제공합니다. 이해관계자들은 본 보고서를 통해 경쟁 환경을 이해하고, 사업의 입지를 강화하고 적절한 시장 진출 전략을 수립하는 데 필요한 귀중한 통찰력을 얻을 수 있습니다. 또한, 본 보고서는 이해관계자들에게 시장 동향에 대한 통찰력과 주요 시장 동인, 제약, 과제, 기회에 대한 정보를 제공합니다.
이 보고서는 다음과 같은 사항에 대한 통찰력을 제공합니다.
- 주요 성장 요인(디지털 혁신 이니셔티브 증가, 클라우드 컴퓨팅을 통한 유연성 및 확장성 수요, 급속한 기술 발전), 제약 요인(높은 비용 및 복잡성, 레거시 시스템 종속성), 기회(신흥 시장 및 중소기업, 소프트웨어 개발을 위한 개방형 표준의 발전), 그리고 당면 과제(벤더 종속성 및 플랫폼 종속성, 기술 부채 관리)를 분석하여 애플리케이션 현대화 서비스 시장 성장에 영향을 미칩니다.
- 제품 개발/혁신: 애플리케이션 현대화 서비스 시장의 향후 기술, 연구 개발 활동, 제품 및 서비스 출시에 대한 자세한 정보를 제공합니다.
- 시장 개발: 수익성이 높은 시장에 대한 포괄적인 정보 – 이 보고서는 다양한 지역의 애플리케이션 현대화 서비스 시장을 분석합니다.
- 시장 다각화: 애플리케이션 현대화 서비스 시장의 신제품 및 서비스, 미개척 지역, 최근 동향, 투자 등에 대한 포괄적인 정보를 제공합니다.
- 경쟁 평가: Oracle(미국), IBM(미국), Microsoft(미국), AWS(미국), HCL Technologies(인도), Accenture(아일랜드), ATOS SE(프랑스), Capgemini(프랑스), Cognizant(미국), Tata Consultancy Services(인도), Aspire Systems(인도), NTT Data Group Corporation(일본), Infosys(인도), Dell Technologies(미국), Innova Solutions(미국), EPAM Systems(미국), DXC Technology(미국), MongoDB(미국), LTIMindtree(인도), Wipro(인도), Rocket Software(미국), Fujitsu(일본), Hexaware Technologies(인도), Virtusa(미국), Softura(미국), CloudHedge(미국), D3V Technology(미국), Bayshore Intelligence(미국), Opinov8(영국), Icreon(미국), Symphony Solutions(네덜란드), Cleveroad(우크라이나), Soft Suave(인도), TechAhead 등의 주요 업체의 시장 점유율, 성장 전략 및 서비스 제공에 대한 심층 평가 (미국), Geomotiv(미국), PalmDigitalz(인도), AveriSource(미국), ScienceSoft(미국), Simform(미국), Utthunga(인도), Rishabh Software(인도), Veritis(미국).
Report Description
The Application modernization services market was estimated to be USD 22.67 billion in 2025 and is expected to reach USD 51.45 billion by 2031 at a compound annual growth rate (CAGR) of 14.6%.
There are a few factors owing to which the application modernization services market is experiencing growth. In the era of rapid technological advancements, a business cannot afford to overlook the need to update its outdated applications in order to stay competitive and improve its efficiency. Often, when a business has grown sufficiently in scope, coverage, and network, the legacy systems in place can hardly meet current business demands because they are constrained by scale, flexibility, and 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 scalability and cost-effectiveness of their operations. As a result of this digital evolution, companies have been compelled to undergo application transformation, as it is essential that such applications integrate seamlessly with advanced technologies such as Artificial Intelligence, machine learning, and the 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 other reasons for enhanced modernization trends, since every business strives to improve how its customers interact with the business digitally. The need to reduce operating costs while increasing agility and speed to market is also a major factor, as application modernization enables the rollout of new features and services in a shorter period. Overall, these are the reasons for the high demand for services related to application modernization, as organizations seek to redesign their technological frameworks in response to their strategic objectives and operational effectiveness.
“The healthcare & life sciences vertical is expected to have the second-largest market size during the forecast period.”
The healthcare sector is expected to capture a significant share of the application modernization services market, second only to the telecom industry, during the forecast period. This growth is driven by the rising demand for advanced digital solutions. The sector is undergoing a major transformation fueled by the increasing adoption of electronic health records, telemedicine, and AI-driven diagnostics. To support these advancements, healthcare providers require more efficient IT systems that enhance operational efficiency, improve patient care, and ensure compliance with regulatory standards. Additionally, the growing demand for cloud-based solutions that offer both security and scalability, along with seamless integration of new technologies into existing systems, continues to accelerate growth in this space.
“The cloud-native applications segment will witness the highest growth rate 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 as a single unit and often rely on underlying physical structures, such as servers and data centers, cloud-native applications are cloud-centric and are constructed using enhanced architectural designs, including those of microservices, containerized booting, and scheduling management systems. This allows players in the industry to adapt to changes in the business environment, increase resources when needed, and minimize unnecessary operational costs. Additionally, the increased use of cloud-based solutions and the maturation of cloud technologies are driving the need for cloud-native applications, as such solutions have overcome market challenges to deliver faster, better results, and an optimized user experience. The most important technological trend has also been the continuous and sustained drive towards digitalizing 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 faster hence this explains the expected higher growth rate of such applications in the application modernization services market.
“Asia Pacific to register the highest growth rate during the forecast period.”
The application modernization services market in the forecast period is expected to grow at a higher pace in the Asia-Pacific region, driven by several underlying factors. One of the reasons is the digital transformation of the region, which has been facilitated by the growing adoption of cloud computing and other emerging technologies, as well as the pursuit of efficiency in business operations. There is an increase in IT spending and digital activities in countries like China and India, creating a need for services to modernize 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, along with the trend towards a more technologically inclined population, is another major factor driving the need for sophisticated and high-capacity application modernization services within the region.
Breakdown of primaries
The study offers insights from a range of industry experts, including solution vendors and 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), AWS (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), Geomotiv (US), PalmDigitalz (India), AveriSource (US), ScienceSoft (US), Simform (US), Utthunga (India), Rishabh Software (India), and Veritis (US). These players have adopted various growth strategies, including partnerships, agreements, collaborations, product launches, enhancements, and acquisitions, to expand their footprint in the application modernization services market.
Research Coverage
The market study covers the size of the application modernization services market across various segments. It aims to estimate the market size and growth potential across different segments, including service types, application types, verticals, and regions. 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, healthcare & life sciences, telecom, IT & ITeS, retail & e-commerce, 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 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 valuable insights to better position their businesses and plan suitable go-to-market strategies. Moreover, the report will provide stakeholders with insights into the market’s pulse, as well as information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into 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 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 such as Oracle (US), IBM (US), Microsoft (US), AWS (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), Geomotiv (US), PalmDigitalz (India), AveriSource (US), ScienceSoft (US), Simform (US), Utthunga (India), Rishabh Software (India), and Veritis (US).
Table of Contents
1 INTRODUCTION 32
1.1 STUDY OBJECTIVES 32
1.2 MARKET DEFINITION 32
1.3 STUDY SCOPE 33
1.3.1 MARKET SEGMENTATION AND REGIONS COVERED 33
1.3.2 INCLUSIONS & EXCLUSIONS 34
1.4 YEARS CONSIDERED 35
1.5 CURRENCY CONSIDERED 35
1.6 STAKEHOLDERS 36
1.7 SUMMARY OF CHANGES 36
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
2.1.1 SECONDARY DATA 38
2.1.2 PRIMARY DATA 38
2.1.2.1 Primary interviews with experts 38
2.1.2.2 Breakdown of primary profiles 39
2.1.2.3 Key insights from industry experts 39
2.2 MARKET SIZE ESTIMATION 40
2.2.1 TOP-DOWN APPROACH 40
2.2.2 BOTTOM-UP APPROACH 41
2.3 DATA TRIANGULATION 44
2.4 LIMITATIONS AND RISK ASSESSMENT 45
2.5 RESEARCH ASSUMPTIONS 45
2.6 LIMITATIONS 46
3 EXECUTIVE SUMMARY 47
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET 49
4.2 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE 49
4.3 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE 50
4.4 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL 50
4.5 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE AND APPLICATION TYPE 51
5 MARKET OVERVIEW AND INDUSTRY TRENDS 52
5.1 INTRODUCTION 52
5.2 MARKET DYNAMICS 52
5.2.1 DRIVERS 53
5.2.1.1 Rise in digital transformation initiatives 53
5.2.1.2 Demand for flexibility and scalability through cloud computing 53
5.2.1.3 Rapid technological advancements 53
5.2.1.4 Shift toward modernization by cloud-native technologies 54
5.2.1.5 Stringent regulatory compliance and security 54
5.2.2 RESTRAINTS 54
5.2.2.1 High costs and complexity 54
5.2.2.2 Legacy system dependencies 54
5.2.3 OPPORTUNITIES 55
5.2.3.1 Proliferation of Kubernetes and containerization 55
5.2.3.2 Evolution of open standards for software development 55
5.2.3.3 Emerging markets and SMEs 55
5.2.3.4 Existence of large number of legacy applications 55
5.2.4 CHALLENGES 56
5.2.4.1 Vendor lock-in and platform dependencies 56
5.2.4.2 Managing technical debt 56
5.3 EVOLUTION OF APPLICATION MODERNIZATION SERVICES 56
5.4 APPLICATION MODERNIZATION SERVICES: ECOSYSTEM ANALYSIS 57
5.5 CASE STUDY ANALYSIS 59
5.5.1 AIRBNB MODERNIZED RUBY ON RAILS MONOLITH USING KUBERNETES TO REDUCE TECH DEBT 59
5.5.2 MODERNIZATION OF ATRUVIA AG’S BANKING APPLICATION 60
5.5.3 LEGACY SYSTEMS’ MODERNIZATION FOR BIOPHARMA BY HCL ON AWS 60
5.5.4 APPLICATION MODERNIZATION FOR LEADING MEDICAL LABORATORY RESULTING IN BETTER ROI 61
5.5.5 UNIPER ENERGY’S UK TRADING SOLUTIONS MODERNIZED BY INFOSYS 61
5.6 SUPPLY CHAIN ANALYSIS 62
5.7 REGULATORY LANDSCAPE 63
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 63
5.7.2 REGULATIONS 68
5.7.2.1 North America 68
5.7.2.1.1 US 68
5.7.2.1.2 Canada 68
5.7.2.2 Europe 68
5.7.2.2.1 UK 68
5.7.2.2.2 Germany 68
5.7.2.3 Asia Pacific 69
5.7.2.3.1 South Korea 69
5.7.2.3.2 China 69
5.7.2.3.3 Japan 69
5.7.2.3.4 India 69
5.7.2.4 Middle East & Africa 69
5.7.2.4.1 UAE 69
5.7.2.4.2 KSA 69
5.7.2.5 Latin America 70
5.7.2.5.1 Brazil 70
5.7.2.5.2 Mexico 70
5.8 PRICING ANALYSIS 70
5.8.1 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE, 2024 70
5.8.2 INDICATIVE PRICING ANALYSIS, BY SERVICE FEATURE, 2024 72
5.9 PORTER’S FIVE FORCES ANALYSIS 72
5.9.1 THREAT OF NEW ENTRANTS 73
5.9.2 THREAT OF SUBSTITUTES 73
5.9.3 BARGAINING POWER OF BUYERS 74
5.9.4 BARGAINING POWER OF SUPPLIERS 74
5.9.5 INTENSITY OF COMPETITIVE RIVALRY 74
5.10 TECHNOLOGY ANALYSIS 74
5.10.1 KEY TECHNOLOGIES 74
5.10.1.1 Cloud platforms 74
5.10.1.2 Containerization 74
5.10.1.3 DevOps tools and CI/CD pipelines 74
5.10.1.4 Microservices architecture 75
5.10.1.5 API management platforms 75
5.10.1.6 Low-code/No-code platforms 75
5.10.2 ADJACENT TECHNOLOGIES 75
5.10.2.1 Edge computing 75
5.10.2.2 5G and next-generation networks 75
5.10.2.3 Blockchain 75
5.10.2.4 Quantum computing 75
5.10.2.5 Augmented reality (AR) and virtual reality (VR) 75
5.10.3 COMPLEMENTARY TECHNOLOGIES 76
5.10.3.1 AI/ML integration 76
5.10.3.2 Robotic process automation (RPA) 76
5.10.3.3 Identity and access management (IAM) 76
5.10.3.4 Data lakes and data warehousing 76
5.10.3.5 Enterprise service bus (ESB) 76
5.11 PATENT ANALYSIS 77
5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 82
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 83
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 83
5.13.2 BUYING CRITERIA 84
5.14 KEY CONFERENCES AND EVENTS, 2025–2026 85
5.15 TECHNOLOGY ROADMAP FOR APPLICATION MODERNIZATION SERVICES MARKET 85
5.15.1 SHORT-TERM ROADMAP (2026–2027) 85
5.15.2 MID-TERM ROADMAP (2028–2029) 86
5.15.3 LONG-TERM ROADMAP (2030–2031) 86
5.16 BEST PRACTICES IN APPLICATION MODERNIZATION SERVICES MARKET 86
5.16.1 CONDUCT THOROUGH ASSESSMENT 86
5.16.2 DEFINE CLEAR GOALS AND OBJECTIVES 86
5.16.3 DEVELOP MODERNIZATION ROADMAP 86
5.16.4 CHOOSE RIGHT MODERNIZATION APPROACH 87
5.16.5 PRIORITIZE APPLICATIONS FOR MODERNIZATION 87
5.16.6 OPTIMIZE FOR CLOUD 87
5.16.7 ENSURE CONTINUOUS MONITORING AND OPTIMIZATION 87
5.16.8 ENGAGE STAKEHOLDERS THROUGHOUT PROCESS 87
5.17 CURRENT AND EMERGING BUSINESS MODELS 87
5.17.1 PLATFORM-AS-A-SERVICE (PAAS) 87
5.17.2 CONSULTATIVE SERVICES MODEL 87
5.17.3 OUTCOME-BASED MODELS 87
5.17.4 OPEN-SOURCE MODEL 88
5.17.5 CO-DEVELOPMENT MODEL 88
5.17.6 AUTOMATED MODELS 88
5.18 INVESTMENT AND FUNDING SCENARIO 88
5.19 IMPACT OF GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES MARKET 89
5.19.1 IMPACT OF AI/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES 89
5.19.2 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES 90
5.19.3 BEST PRACTICES 91
5.19.3.1 BFSI Industry 91
5.19.3.2 IT & ITeS Industry 91
5.19.3.3 Telecom Industry 91
5.19.4 CASE STUDIES OF GENERATIVE AI IMPLEMENTATION 92
5.19.4.1 Modernizing a mission critical banking app 92
5.19.4.2 Cloud‑first ERP renewal for a manufacturer 92
5.19.4.3 Zero‑downtime auction platform scale‑out 92
5.19.5 CLIENT READINESS AND IMPACT ASSESSMENT 92
5.19.5.1 Client A: Global retail bank 93
5.19.5.2 Client B: Industrial manufacturer 93
5.19.5.3 Client C: Digital marketplace 93
5.20 IMPACT OF 2025 US TARIFF – OVERVIEW 93
5.20.1 INTRODUCTION 93
5.21 KEY TARIFF RATES 94
5.22 PRICE IMPACT ANALYSIS 95
5.23 IMPACT ON COUNTRY/REGION 96
5.23.1 NORTH AMERICA 96
5.23.2 EUROPE 97
5.23.3 APAC 98
5.24 INDUSTRIES 98
5.25 7 ‘R’S OF APPLICATION MODERNIZATION 99
5.25.1 REHOST 100
5.25.2 RE-PLATFORM 100
5.25.3 REFACTOR 100
5.25.4 REVISE 100
5.25.5 REBUILD 100
5.25.6 REPLACE 100
5.25.7 RETIRE 100
6 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE 101
6.1 INTRODUCTION 102
6.1.1 SERVICE TYPE: MARKET DRIVERS 102
6.1.2 APPLICATION PORTFOLIO ASSESSMENT 104
6.1.2.1 Need for strategic evaluation to streamline modernization paths to drive initial adoption of portfolio assessments 104
6.1.3 CLOUD APPLICATION MIGRATION 105
6.1.3.1 Rapid adoption of cloud infrastructure to support these services as businesses seek scalability and cost-efficiency 105
6.1.4 APPLICATION RE-PLATFORMING 106
6.1.4.1 Demand for performance optimization without complete rewrites 106
6.1.5 APPLICATION INTEGRATION 107
6.1.5.1 Increase in complexity of hybrid environments to drive need for seamless application integration across cloud and legacy systems 107
6.1.6 UI/UX MODERNIZATION 108
6.1.6.1 Growth in emphasis on user-centric digital experiences to sustain demand for UI/UX modernization 108
6.1.7 POST-MODERNIZATION SERVICES 109
6.1.7.1 Ongoing need for support in maintaining modernized applications to ensure steady, albeit slower, growth of post-modernization services 109
7 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE 111
7.1 INTRODUCTION 112
7.1.1 APPLICATION TYPE: MARKET DRIVERS 112
7.1.2 LEGACY APPLICATIONS 113
7.1.2.1 Need to reduce operational costs of legacy applications and integrate with modern technologies 113
7.1.3 CLOUD-HOSTED APPLICATIONS 114
7.1.3.1 Growth in demand for scalable and cost-efficient IT infrastructure to fuel adoption of cloud-hosted application modernization 114
7.1.4 CLOUD-NATIVE APPLICATIONS 115
7.1.4.1 Push for innovation, scalability, and speed in digital transformation to drive rapid adoption of cloud-native applications 115
8 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL 117
8.1 INTRODUCTION 118
8.1.1 VERTICAL: MARKET DRIVERS 118
8.2 BFSI 120
8.2.1 NEED FOR SECURE, SCALABLE, AND EFFICIENT FINANCIAL SERVICES 120
8.2.2 BFSI: APPLICATION MODERNIZATION SERVICE USE CASES 121
8.2.2.1 Core banking system modernization 121
8.2.2.2 Claims processing overhaul 121
8.2.2.3 Digital customer portals 121
8.2.2.4 Real-time risk management 121
8.2.2.5 Payment gateway integration 121
8.3 IT & ITES 122
8.3.1 NEED FOR AGILE SERVICE DELIVERY AND TECHNOLOGICAL INTEGRATION 122
8.3.2 IT & ITES: APPLICATION MODERNIZATION SERVICE USE CASES 122
8.3.2.1 ERP cloud migration 122
8.3.2.2 Unified IT management systems 122
8.3.2.3 Customer support systems modernization 122
8.3.2.4 Cloud-native software optimization 123
8.3.2.5 Hybrid cloud management systems 123
8.4 HEALTHCARE & LIFE SCIENCES 124
8.4.1 NEED FOR IMPROVED PATIENT CARE, DIGITAL HEALTH SOLUTIONS,
AND EFFICIENT DATA MANAGEMENT 124
8.4.2 HEALTHCARE & LIFE SCIENCES: APPLICATION MODERNIZATION
SERVICE USE CASES 124
8.4.2.1 EHR cloud migration 124
8.4.2.2 Pharmaceutical research modernization 124
8.4.2.3 Health insurance claims 124
8.4.2.4 Telemedicine platforms 124
8.4.2.5 Medical device connectivity 124
8.5 MANUFACTURING 125
8.5.1 DRIVE TOWARD SMART FACTORIES AND REAL-TIME SUPPLY CHAIN OPTIMIZATION 125
8.5.2 MANUFACTURING: APPLICATION MODERNIZATION SERVICE USE CASES 126
8.5.2.1 Smart factory implementations 126
8.5.2.2 Predictive maintenance solutions 126
8.5.2.3 Integrated supply chain management 126
8.5.2.4 Quality control enhancements 126
8.5.2.5 Collaborative robotics integration 126
8.6 TELECOM 127
8.6.1 RAPID GROWTH OF 5G NETWORKS AND DEMAND FOR ENHANCED SERVICE DELIVERY 127
8.6.2 TELECOM: APPLICATION MODERNIZATION SERVICE USE CASES 127
8.6.2.1 5G network management modernization 127
8.6.2.2 Cloud-based CRM systems 127
8.6.2.3 Billing system integration 127
8.6.2.4 Network automation 128
8.6.2.5 Self-service portal modernization 128
8.7 TRANSPORTATION & LOGISTICS 129
8.7.1 DEMAND FOR REAL-TIME VISIBILITY AND OPERATIONAL EFFICIENCY 129
8.7.2 TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICE USE CASES 129
8.7.2.1 Cloud-based fleet management systems 129
8.7.2.2 Integrated warehouse management 129
8.7.2.3 Enhanced shipping portals 129
8.7.2.4 Visibility and responsiveness improvements 129
8.7.2.5 Predictive analytics for demand forecasting 129
8.8 MEDIA & ENTERTAINMENT 130
8.8.1 NEED FOR INNOVATIVE CONTENT DELIVERY AND PERSONALIZED VIEWER EXPERIENCES 130
8.8.2 MEDIA & ENTERTAINMENT: APPLICATION MODERNIZATION SERVICE USE CASES 131
8.8.2.1 Cloud-based content delivery networks 131
8.8.2.2 Personalized user experiences 131
8.8.2.3 Digital asset management systems 131
8.8.2.4 Enhanced audience analytics 131
8.8.2.5 Integrated marketing solutions 131
8.9 RETAIL & E-COMMERCE 132
8.9.1 ADOPTION OF PERSONALIZED CUSTOMER EXPERIENCES AND STREAMLINED OPERATIONS 132
8.9.2 RETAIL & E-COMMERCE: APPLICATION MODERNIZATION SERVICE USE CASES 132
8.9.2.1 Cloud-based inventory management 132
8.9.2.2 Customer loyalty program modernization 132
8.9.2.3 POS and e-commerce integration 132
8.9.2.4 Demand forecasting modernization 133
8.9.2.5 Scalable e-commerce platforms 133
8.10 GOVERNMENT 134
8.10.1 NEED FOR ENHANCED CITIZEN ENGAGEMENT AND EFFICIENT SERVICE DELIVERY 134
8.10.2 GOVERNMENT: APPLICATION MODERNIZATION SERVICE USE CASES 134
8.10.2.1 Citizen services cloud migration 134
8.10.2.2 Document management system overhaul 134
8.10.2.3 Inter-agency communication integration 134
8.10.2.4 User-friendly public service apps 134
8.10.2.5 Disaster recovery planning 134
8.11 OTHER VERTICALS 135
8.11.1 OTHER VERTICALS: APPLICATION MODERNIZATION SERVICE USE CASES 136
8.11.1.1 Cloud-based booking systems 136
8.11.1.2 Personalized travel recommendations 136
8.11.1.3 Cloud-based student information systems 136
8.11.1.4 Interactive virtual classrooms 136
8.11.1.5 Adaptive learning platforms 136
9 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION 138
9.1 INTRODUCTION 139
9.2 NORTH AMERICA 140
9.2.1 NORTH AMERICA: MACROECONOMIC OUTLOOK 140
9.2.2 US 144
9.2.2.1 Rise in prevalence of AI advancements, automation, and next-gen network technologies 144
9.2.3 CANADA 147
9.2.3.1 Government-backed digital initiatives and cloud adoption to fuel modernization across public and private sectors 147
9.3 EUROPE 150
9.3.1 EUROPE: MACROECONOMIC OUTLOOK 150
9.3.2 UK 154
9.3.2.1 Stringent regulations support adoption of application modernization services in UK 154
9.3.3 GERMANY 157
9.3.3.1 Strong focus on Industry 4.0 and smart manufacturing, and need for advanced networking solutions 157
9.3.4 FRANCE 160
9.3.4.1 Increased demand for digital services and automation to boost modernization across sectors 160
9.3.5 ITALY 163
9.3.5.1 Transformation of legacy infrastructure, particularly in finance and telecom 163
9.3.6 REST OF EUROPE 166
9.4 ASIA PACIFIC 169
9.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK 169
9.4.2 CHINA 173
9.4.2.1 Significant investments by key players and need for rapid development and adoption of new technologies 173
9.4.3 JAPAN 176
9.4.3.1 Increase in adoption of advanced technologies and integration
with AI and automation 176
9.4.4 INDIA 179
9.4.4.1 Growing focus on cloud and network connectivity powered
by AI technology 179
9.4.5 REST OF ASIA PACIFIC 182
9.5 MIDDLE EAST & AFRICA 185
9.5.1 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK 186
9.5.2 UAE 189
9.5.2.1 Economic Vision 2030’s focus on digital transformation to key driver for modernization in public and private sectors 189
9.5.3 KSA 192
9.5.3.1 Saudi’s need for digital transformation driven by Vision 2030 agenda 192
9.5.4 AFRICA 195
9.5.4.1 Growing need for digital infrastructure and modernized telecom and financial systems 195
9.5.5 REST OF MIDDLE EAST & AFRICA 198
9.6 LATIN AMERICA 201
9.6.1 LATIN AMERICA: MACROECONOMIC OUTLOOK 202
9.6.2 BRAZIL 205
9.6.2.1 Ongoing investments in telecom infrastructure and modernization projects 205
9.6.3 MEXICO 208
9.6.3.1 Shift toward cloud modernization in public and financial sectors 208
9.6.4 REST OF LATIN AMERICA 210
10 COMPETITIVE LANDSCAPE 214
10.1 INTRODUCTION 214
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022-2025 214
10.3 MARKET SHARE ANALYSIS 216
10.3.1 MARKET RANKING ANALYSIS 219
10.4 REVENUE ANALYSIS, 2020-2024 220
10.5 BRAND/PRODUCT COMPARISON 221
10.6 COMPANY VALUATION AND FINANCIAL METRICS 222
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 223
10.7.1 STARS 223
10.7.2 EMERGING LEADERS 223
10.7.3 PERVASIVE PLAYERS 223
10.7.4 PARTICIPANTS 223
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 225
10.7.5.1 Company footprint 225
10.7.5.2 Service type footprint 226
10.7.5.3 Application type footprint 227
10.7.5.4 Vertical footprint 229
10.7.5.5 Regional footprint 230
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 232
10.8.1 PROGRESSIVE COMPANIES 232
10.8.2 RESPONSIVE COMPANIES 232
10.8.3 DYNAMIC COMPANIES 232
10.8.4 STARTING BLOCKS 232
10.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 234
10.8.5.1 Key startups/SMEs 234
10.8.5.2 Competitive benchmarking of key startups/SMEs 235
10.9 COMPETITIVE SCENARIO 236
10.9.1 PRODUCT LAUNCHES 236
10.9.2 DEALS 238
11 COMPANY PROFILES 241
11.1 KEY PLAYERS 241
11.1.1 IBM 241
11.1.1.1 Business overview 241
11.1.1.2 Products/Solutions/Services offered 242
11.1.1.3 Recent developments 243
11.1.1.3.1 Product launches 243
11.1.1.3.2 Deals 244
11.1.1.4 MnM view 244
11.1.1.4.1 Key strengths 244
11.1.1.4.2 Strategic choices 245
11.1.1.4.3 Weaknesses and competitive threats 245
11.1.2 MICROSOFT 246
11.1.2.1 Business overview 246
11.1.2.2 Products/Solutions/Services offered 247
11.1.2.3 Recent developments 248
11.1.2.3.1 Product launches 248
11.1.2.3.2 Deals 249
11.1.2.4 MnM view 251
11.1.2.4.1 Key strengths 251
11.1.2.4.2 Strategic choices 251
11.1.2.4.3 Weaknesses and competitive threats 251
11.1.3 HCL TECHNOLOGIES 252
11.1.3.1 Business overview 252
11.1.3.2 Products/Solutions/Services offered 253
11.1.3.3 Recent developments 254
11.1.3.3.1 Product launches 254
11.1.3.3.2 Deals 255
11.1.3.4 MnM view 256
11.1.3.4.1 Key strengths 256
11.1.3.4.2 Strategic choices 256
11.1.3.4.3 Weaknesses and competitive threats 256
11.1.4 ACCENTURE 257
11.1.4.1 Business overview 257
11.1.4.2 Platforms/Solutions/Services offered 258
11.1.4.3 Recent developments 259
11.1.4.3.1 Deals 259
11.1.4.4 MnM view 261
11.1.4.4.1 Key strengths 261
11.1.4.4.2 Strategic choices 261
11.1.4.4.3 Weaknesses and competitive threats 261
11.1.5 AWS 262
11.1.5.1 Business overview 262
11.1.5.2 Products/Solutions/Services offered 263
11.1.5.3 Recent developments 264
11.1.5.3.1 Deals 264
11.1.5.4 MnM view 265
11.1.5.4.1 Right to win 265
11.1.5.4.2 Strategic choices 265
11.1.5.4.3 Weaknesses and competitive threats 265
11.1.6 ATOS 266
11.1.6.1 Business overview 266
11.1.6.2 Platforms/Solutions/Services offered 267
11.1.6.3 Recent developments 268
11.1.6.3.1 Product launches 268
11.1.6.3.2 Deals 268
11.1.6.4 MnM view 270
11.1.6.4.1 Key strengths 270
11.1.6.4.2 Strategic choices 270
11.1.6.4.3 Weaknesses and competitive threats 270
11.1.7 CAPGEMINI 271
11.1.7.1 Business overview 271
11.1.7.2 Platforms/Solutions/Services offered 272
11.1.7.3 Recent developments 273
11.1.7.3.1 Product launches 273
11.1.7.3.2 Deals 273
11.1.7.4 MnM view 275
11.1.7.4.1 Key strengths 275
11.1.7.4.2 Strategic choices 275
11.1.7.4.3 Weaknesses and competitive threats 275
11.1.8 ORACLE 276
11.1.8.1 Business overview 276
11.1.8.2 Products/Solutions/Services offered 277
11.1.8.3 Recent developments 278
11.1.8.3.1 Product launches 278
11.1.8.3.2 Deals 279
11.1.8.4 MnM view 280
11.1.8.4.1 Key strengths 280
11.1.8.4.2 Strategic choices 281
11.1.8.4.3 Weaknesses and competitive threats 281
11.1.9 COGNIZANT 282
11.1.9.1 Business overview 282
11.1.9.2 Platforms/Solutions/Services offered 283
11.1.9.3 Recent developments 284
11.1.9.3.1 Deals 284
11.1.10 TCS 286
11.1.10.1 Business overview 286
11.1.10.2 Platforms/Solutions/Services offered 287
11.1.10.3 Recent developments 288
11.1.10.3.1 Product launches 288
11.1.10.3.2 Deals 289
11.1.11 INNOVA SOLUTIONS 292
11.1.12 EPAM SYSTEMS 293
11.1.13 ASPIRE SYSTEMS 294
11.1.14 NTT DATA 295
11.1.15 DELL TECHNOLOGIES 296
11.1.16 DXC TECHNOLOGY 297
11.1.17 LTIMINDTREE 298
11.1.18 INFOSYS 299
11.1.19 WIPRO 300
11.1.20 ROCKET SOFTWARE, INC. 302
11.1.21 FUJITSU 303
11.1.22 HEXAWARE TECHNOLOGIES 304
11.1.23 VIRTUSA 305
11.1.24 MONGODB 306
11.1.25 SCIENCESOFT 307
11.1.26 SIMFORM 308
11.1.27 UTTHUNGA 309
11.1.28 RISHABH SOFTWARE 310
11.2 STARTUPS/SMES 311
11.2.1 SOFTURA 311
11.2.2 CLOUDHEDGE TECHNOLOGIES PVT. LTD. 312
11.2.3 D3V TECHNOLOGY 313
11.2.4 BAYSHORE INTELLIGENCE SOLUTIONS 314
11.2.5 OPINOV8 315
11.2.6 ICREON 316
11.2.7 SYMPHONY SOLUTIONS 317
11.2.8 CLEVEROAD 318
11.2.9 TECHAHEAD 319
11.2.10 GEOMOTIV 320
11.2.11 SOFT SUAVE 321
11.2.12 PALMDIGITALZ 322
11.2.13 AVERISOURCE 323
11.2.14 VERITIS 324
12 ADJACENT AND RELATED MARKETS 325
12.1 INTRODUCTION 325
12.2 DIGITAL TRANSFORMATION MARKET 325
12.2.1 MARKET DEFINITION 325
12.3 MAINFRAME MODERNIZATION MARKET 329
12.3.1 MARKET DEFINITION 329
13 APPENDIX 333
13.1 DISCUSSION GUIDE 333
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 336
13.3 CUSTOMIZATION OPTIONS 338
13.4 RELATED REPORTS 338
13.5 AUTHOR DETAILS 339
LIST OF TABLES
TABLE 1 USD EXCHANGE RATES, 2020–2024 35
TABLE 2 APPLICATION MODERNIZATION SERVICES MARKET: ECOSYSTEM 58
TABLE 3 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 63
TABLE 4 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 64
TABLE 5 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 65
TABLE 6 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 67
TABLE 7 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE, 2024 71
TABLE 8 INDICATIVE PRICING LEVELS OF APPLICATION MODERNIZATION SERVICES, 2024 72
TABLE 9 PORTER’S FIVE FORCES IMPACT ON APPLICATION MODERNIZATION
SERVICES MARKET 72
TABLE 10 LIST OF KEY PATENTS 78
TABLE 11 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 83
TABLE 12 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 84
TABLE 13 APPLICATION MODERNIZATION SERVICES MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2025–2026 85
TABLE 14 US-ADJUSTED RECIPROCAL TARIFF RATES 94
TABLE 15 EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE MARKET DUE
TO TARIFF IMPACT 95
TABLE 16 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2018–2024 (USD MILLION) 103
TABLE 17 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2025–2031 (USD MILLION) 103
TABLE 18 APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 104
TABLE 19 APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 105
TABLE 20 CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 105
TABLE 21 CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 106
TABLE 22 APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 106
TABLE 23 APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 107
TABLE 24 APPLICATION INTEGRATION SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 107
TABLE 25 APPLICATION INTEGRATION SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 108
TABLE 26 UI/UX MODERNIZATION SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 108
TABLE 27 UI/UX MODERNIZATION SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 109
TABLE 28 POST-MODERNIZATION SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 109
TABLE 29 POST-MODERNIZATION SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 110
TABLE 30 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE,
2018–2024 (USD MILLION) 113
TABLE 31 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE,
2025–2031 (USD MILLION) 113
TABLE 32 LEGACY APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 114
TABLE 33 LEGACY APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 114
TABLE 34 CLOUD-HOSTED APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2018–2024 (USD MILLION) 115
TABLE 35 CLOUD-HOSTED APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2025–2031 (USD MILLION) 115
TABLE 36 CLOUD-NATIVE APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2018–2024 (USD MILLION) 116
TABLE 37 CLOUD-NATIVE APPLICATION MODERNIZATION SERVICES MARKET, BY REGION, 2025–2031 (USD MILLION) 116
TABLE 38 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 119
TABLE 39 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 120
TABLE 40 APPLICATION MODERNIZATION SERVICES MARKET IN BFSI, BY REGION,
2018–2024 (USD MILLION) 121
TABLE 41 APPLICATION MODERNIZATION SERVICES MARKET IN BFSI, BY REGION,
2025–2031 (USD MILLION) 122
TABLE 42 APPLICATION MODERNIZATION SERVICES MARKET IN IT & ITES, BY REGION, 2018–2024 (USD MILLION) 123
TABLE 43 APPLICATION MODERNIZATION SERVICES MARKET IN IT & ITES, BY REGION, 2025–2031 (USD MILLION) 123
TABLE 44 APPLICATION MODERNIZATION SERVICES MARKET IN HEALTHCARE & LIFE SCIENCES, BY REGION, 2018–2024 (USD MILLION) 125
TABLE 45 APPLICATION MODERNIZATION SERVICES MARKET IN HEALTHCARE & LIFE SCIENCES, BY REGION, 2025–2031 (USD MILLION) 125
TABLE 46 APPLICATION MODERNIZATION SERVICES MARKET IN MANUFACTURING,
BY REGION, 2018–2024 (USD MILLION) 126
TABLE 47 APPLICATION MODERNIZATION SERVICES MARKET IN MANUFACTURING,
BY REGION, 2025–2031 (USD MILLION) 127
TABLE 48 APPLICATION MODERNIZATION SERVICES MARKET IN TELECOM, BY REGION, 2018–2024 (USD MILLION) 128
TABLE 49 APPLICATION MODERNIZATION SERVICES MARKET IN TELECOM, BY REGION, 2025–2031 (USD MILLION) 128
TABLE 50 APPLICATION MODERNIZATION SERVICES MARKET IN TRANSPORTATION & LOGISTICS, BY REGION, 2018–2024 (USD MILLION) 130
TABLE 51 APPLICATION MODERNIZATION SERVICES MARKET IN TRANSPORTATION & LOGISTICS, BY REGION, 2025–2031 (USD MILLION) 130
TABLE 52 APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT, BY REGION, 2018–2024 (USD MILLION) 131
TABLE 53 APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT, BY REGION, 2025–2031 (USD MILLION) 132
TABLE 54 APPLICATION MODERNIZATION SERVICES MARKET IN RETAIL & E-COMMERCE,
BY REGION, 2018–2024 (USD MILLION) 133
TABLE 55 APPLICATION MODERNIZATION SERVICES MARKET IN RETAIL & E-COMMERCE,
BY REGION, 2025–2031 (USD MILLION) 133
TABLE 56 APPLICATION MODERNIZATION SERVICES MARKET IN GOVERNMENT, BY REGION, 2018–2024 (USD MILLION) 135
TABLE 57 APPLICATION MODERNIZATION SERVICES MARKET IN GOVERNMENT, BY REGION, 2025–2031 (USD MILLION) 135
TABLE 58 APPLICATION MODERNIZATION SERVICES MARKET IN OTHER VERTICALS,
BY REGION, 2018–2024 (USD MILLION) 136
TABLE 59 APPLICATION MODERNIZATION SERVICES MARKET IN OTHER VERTICALS,
BY REGION, 2025–2031 (USD MILLION) 137
TABLE 60 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2018–2024 (USD MILLION) 139
TABLE 61 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,
2025–2031 (USD MILLION) 139
TABLE 62 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2018–2024 (USD MILLION) 141
TABLE 63 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2025–2031 (USD MILLION) 141
TABLE 64 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2024 (USD MILLION) 142
TABLE 65 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2025–2031 (USD MILLION) 142
TABLE 66 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2024 (USD MILLION) 142
TABLE 67 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2025–2031 (USD MILLION) 143
TABLE 68 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY, 2018–2024 (USD MILLION) 143
TABLE 69 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY, 2025–2031 (USD MILLION) 143
TABLE 70 US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2018–2024 (USD MILLION) 144
TABLE 71 US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2025–2031 (USD MILLION) 145
TABLE 72 US: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 145
TABLE 73 US: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 145
TABLE 74 US: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 146
TABLE 75 US: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 146
TABLE 76 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 147
TABLE 77 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 148
TABLE 78 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 148
TABLE 79 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 148
TABLE 80 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 149
TABLE 81 CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 149
TABLE 82 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 151
TABLE 83 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 151
TABLE 84 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 151
TABLE 85 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 152
TABLE 86 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 152
TABLE 87 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 153
TABLE 88 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,
2018–2024 (USD MILLION) 153
TABLE 89 EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,
2025–2031 (USD MILLION) 154
TABLE 90 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2018–2024 (USD MILLION) 155
TABLE 91 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,
2025–2031 (USD MILLION) 155
TABLE 92 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 155
TABLE 93 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 156
TABLE 94 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 156
TABLE 95 UK: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 157
TABLE 96 GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 158
TABLE 97 GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 158
TABLE 98 GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 158
TABLE 99 GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 159
TABLE 100 GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2024 (USD MILLION) 159
TABLE 101 GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2025–2031 (USD MILLION) 160
TABLE 102 FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 161
TABLE 103 FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 161
TABLE 104 FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 161
TABLE 105 FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 162
TABLE 106 FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 162
TABLE 107 FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 163
TABLE 108 ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 164
TABLE 109 ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 164
TABLE 110 ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 164
TABLE 111 ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 165
TABLE 112 ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 165
TABLE 113 ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 166
TABLE 114 REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 167
TABLE 115 REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 167
TABLE 116 REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2024 (USD MILLION) 167
TABLE 117 REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2025–2031 (USD MILLION) 168
TABLE 118 REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2024 (USD MILLION) 168
TABLE 119 REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2025–2031 (USD MILLION) 169
TABLE 120 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 170
TABLE 121 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 171
TABLE 122 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 171
TABLE 123 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 171
TABLE 124 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2024 (USD MILLION) 172
TABLE 125 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2025–2031 (USD MILLION) 172
TABLE 126 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2018–2024 (USD MILLION) 173
TABLE 127 ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2025–2031 (USD MILLION) 173
TABLE 128 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 174
TABLE 129 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 174
TABLE 130 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 174
TABLE 131 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 175
TABLE 132 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 175
TABLE 133 CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 176
TABLE 134 JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 177
TABLE 135 JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 177
TABLE 136 JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 177
TABLE 137 JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 178
TABLE 138 JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 178
TABLE 139 JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 179
TABLE 140 INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 180
TABLE 141 INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 180
TABLE 142 INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 180
TABLE 143 INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 181
TABLE 144 INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 181
TABLE 145 INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 182
TABLE 146 REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2018–2024 (USD MILLION) 183
TABLE 147 REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2025–2031 (USD MILLION) 183
TABLE 148 REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2024 (USD MILLION) 183
TABLE 149 REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2025–2031 (USD MILLION) 184
TABLE 150 REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2024 (USD MILLION) 184
TABLE 151 REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2025–2031 (USD MILLION) 185
TABLE 152 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2018–2024 (USD MILLION) 186
TABLE 153 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2025–2031 (USD MILLION) 187
TABLE 154 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2024 (USD MILLION) 187
TABLE 155 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2025–2031 (USD MILLION) 187
TABLE 156 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2024 (USD MILLION) 188
TABLE 157 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2025–2031 (USD MILLION) 188
TABLE 158 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY, 2018–2024 (USD MILLION) 189
TABLE 159 MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY COUNTRY, 2025–2031 (USD MILLION) 189
TABLE 160 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 190
TABLE 161 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 190
TABLE 162 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 190
TABLE 163 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 191
TABLE 164 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 191
TABLE 165 UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 192
TABLE 166 KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 193
TABLE 167 KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 193
TABLE 168 KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 193
TABLE 169 KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 194
TABLE 170 KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 194
TABLE 171 KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 195
TABLE 172 AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 196
TABLE 173 AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 196
TABLE 174 AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 196
TABLE 175 AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 197
TABLE 176 AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 197
TABLE 177 AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 198
TABLE 178 REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 199
TABLE 179 REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 199
TABLE 180 REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 199
TABLE 181 REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 200
TABLE 182 REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2024 (USD MILLION) 200
TABLE 183 REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2025–2031 (USD MILLION) 201
TABLE 184 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 202
TABLE 185 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 202
TABLE 186 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2024 (USD MILLION) 203
TABLE 187 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2025–2031 (USD MILLION) 203
TABLE 188 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2018–2024 (USD MILLION) 203
TABLE 189 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL, 2025–2031 (USD MILLION) 204
TABLE 190 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2018–2024 (USD MILLION) 204
TABLE 191 LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY, 2025–2031 (USD MILLION) 204
TABLE 192 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 205
TABLE 193 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 206
TABLE 194 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 206
TABLE 195 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 206
TABLE 196 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 207
TABLE 197 BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 207
TABLE 198 MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION) 208
TABLE 199 MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2025–2031 (USD MILLION) 208
TABLE 200 MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2018–2024 (USD MILLION) 209
TABLE 201 MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE, 2025–2031 (USD MILLION) 209
TABLE 202 MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2018–2024 (USD MILLION) 209
TABLE 203 MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,
2025–2031 (USD MILLION) 210
TABLE 204 REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2018–2024 (USD MILLION) 211
TABLE 205 REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY SERVICE TYPE, 2025–2031 (USD MILLION) 211
TABLE 206 REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2018–2024 (USD MILLION) 211
TABLE 207 REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY APPLICATION TYPE, 2025–2031 (USD MILLION) 212
TABLE 208 REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2018–2024 (USD MILLION) 212
TABLE 209 REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,
BY VERTICAL, 2025–2031 (USD MILLION) 213
TABLE 210 OVERVIEW OF STRATEGIES ADOPTED BY KEY APPLICATION MODERNIZATION SERVICES PLAYERS, JANUARY 2022-JULY 2025 214
TABLE 211 APPLICATION MODERNIZATION SERVICES MARKET: DEGREE OF COMPETITION 217
TABLE 212 SERVICE TYPE FOOTPRINT, 2024 226
TABLE 213 APPLICATION TYPE FOOTPRINT, 2024 227
TABLE 214 VERTICAL FOOTPRINT, 2024 229
TABLE 215 REGIONAL FOOTPRINT, 2024 230
TABLE 216 APPLICATION MODERNIZATION SERVICES MARKET: KEY STARTUPS/SMES, 2024 234
TABLE 217 APPLICATION MODERNIZATION SERVICES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES, 2024 235
TABLE 218 APPLICATION MODERNIZATION SERVICES MARKET: PRODUCT LAUNCHES, JANUARY 2022–AUGUST 2024 236
TABLE 219 APPLICATION MODERNIZATION SERVICES MARKET: DEALS,
JANUARY 2022–AUGUST 2024 238
TABLE 220 IBM: COMPANY OVERVIEW 241
TABLE 221 IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 242
TABLE 222 IBM: PRODUCT LAUNCHES 243
TABLE 223 IBM: DEALS 244
TABLE 224 MICROSOFT: COMPANY OVERVIEW 246
TABLE 225 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 247
TABLE 226 MICROSOFT: PRODUCT LAUNCHES 248
TABLE 227 MICROSOFT: DEALS 249
TABLE 228 HCL TECHNOLOGIES: COMPANY OVERVIEW 252
TABLE 229 HCL TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 253
TABLE 230 HCL TECHNOLOGIES: PRODUCT LAUNCHES 254
TABLE 231 HCL TECHNOLOGIES: DEALS 255
TABLE 232 ACCENTURE: COMPANY OVERVIEW 257
TABLE 233 ACCENTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 258
TABLE 234 ACCENTURE: DEALS 259
TABLE 235 AWS: COMPANY OVERVIEW 262
TABLE 236 AWS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 263
TABLE 237 AWS: DEALS 264
TABLE 238 ATOS: COMPANY OVERVIEW 266
TABLE 239 ATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 267
TABLE 240 ATOS: PRODUCT LAUNCHES 268
TABLE 241 ATOS: DEALS 268
TABLE 242 CAPGEMINI: COMPANY OVERVIEW 271
TABLE 243 CAPGEMINI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 272
TABLE 244 CAPGEMINI: PRODUCT LAUNCHES 273
TABLE 245 CAPGEMINI: DEALS 273
TABLE 246 ORACLE: COMPANY OVERVIEW 276
TABLE 247 ORACLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 277
TABLE 248 ORACLE: PRODUCT LAUNCHES 278
TABLE 249 ORACLE: DEALS 279
TABLE 250 COGNIZANT: COMPANY OVERVIEW 282
TABLE 251 COGNIZANT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 283
TABLE 252 COGNIZANT: DEALS 284
TABLE 253 TCS: COMPANY OVERVIEW 286
TABLE 254 TCS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 287
TABLE 255 TCS: PRODUCT LAUNCHES 288
TABLE 256 TCS: DEALS 289
TABLE 257 DIGITAL TRANSFORMATION MARKET, BY OFFERING, 2019–2023 (USD MILLION) 326
TABLE 258 DIGITAL TRANSFORMATION MARKET, BY OFFERING, 2024–2030 (USD MILLION) 326
TABLE 259 DIGITAL TRANSFORMATION MARKET, BY TECHNOLOGY,
2019–2023 (USD BILLION) 326
TABLE 260 DIGITAL TRANSFORMATION MARKET, BY TECHNOLOGY,
2024–2030 (USD BILLION) 327
TABLE 261 DIGITAL TRANSFORMATION MARKET, BY BUSINESS FUNCTION,
2019–2023 (USD BILLION) 327
TABLE 262 DIGITAL TRANSFORMATION MARKET, BY BUSINESS FUNCTION,
2024–2030 (USD BILLION) 327
TABLE 263 DIGITAL TRANSFORMATION MARKET, BY VERTICAL, 2019–2023 (USD BILLION) 328
TABLE 264 DIGITAL TRANSFORMATION MARKET, BY VERTICAL, 2024–2030 (USD BILLION) 328
TABLE 265 DIGITAL TRANSFORMATION MARKET, BY REGION, 2019–2023 (USD BILLION) 329
TABLE 266 DIGITAL TRANSFORMATION MARKET, BY REGION, 2024–2030 (USD BILLION) 329
TABLE 267 MAINFRAME MODERNIZATION MARKET, BY OFFERING,
2019–2024 (USD MILLION) 329
TABLE 268 MAINFRAME MODERNIZATION MARKET, BY OFFERING,
2025–2030 (USD MILLION) 330
TABLE 269 MAINFRAME MODERNIZATION MARKET, BY ORGANIZATION SIZE,
2019–2024 (USD MILLION) 330
TABLE 270 MAINFRAME MODERNIZATION MARKET, BY ORGANIZATION SIZE,
2025–2030 (USD MILLION) 330
TABLE 271 MAINFRAME MODERNIZATION MARKET, BY VERTICAL, 2019–2024 (USD MILLION) 331
TABLE 272 MAINFRAME MODERNIZATION MARKET, BY VERTICAL, 2025–2030 (USD MILLION) 331
TABLE 273 MAINFRAME MODERNIZATION MARKET, BY REGION, 2019–2024 (USD MILLION) 332
TABLE 274 MAINFRAME MODERNIZATION MARKET, BY REGION, 2025–2030 (USD MILLION) 332
LIST OF FIGURES
FIGURE 1 APPLICATION MODERNIZATION SERVICES MARKET SEGMENTATION 33
FIGURE 2 APPLICATION MODERNIZATION SERVICES MARKET: RESEARCH DESIGN 37
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION,
AND REGION 39
FIGURE 4 KEY INDUSTRY INSIGHTS 39
FIGURE 5 APPLICATION MODERNIZATION SERVICES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 40
FIGURE 6 APPROACH 1 (SUPPLY SIDE): REVENUE OF VENDORS IN APPLICATION MODERNIZATION SERVICES MARKET 41
FIGURE 7 APPROACH 2 (DEMAND SIDE): APPLICATION MODERNIZATION SERVICES MARKET 42
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS 42
FIGURE 9 MARKET SIZE ESTIMATION USING BOTTOM-UP APPROACH 43
FIGURE 10 DATA TRIANGULATION 44
FIGURE 11 APPLICATION MODERNIZATION SERVICES MARKET, 2024–2031 (USD MILLION) 47
FIGURE 12 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION 48
FIGURE 13 RAPID ADOPTION OF CLOUD-NATIVE TECHNOLOGIES AND AI-DRIVEN AUTOMATION ACTS AS OPPORTUNITY IN APPLICATION MODERNIZATION SERVICES MARKET 49
FIGURE 14 CLOUD APPLICATION MIGRATION SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 49
FIGURE 15 LEGACY APPLICATIONS SEGMENT TO DOMINATE MARKET DURING
FORECAST PERIOD 50
FIGURE 16 BFSI SEGMENT TO ACCOUNT FOR SIGNIFICANT MARKET SHARE 50
FIGURE 17 CLOUD APPLICATION MIGRATION AND LEGACY APPLICATION SEGMENTS TO ACCOUNT FOR SIGNIFICANT MARKET SHARES IN 2025 51
FIGURE 18 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: APPLICATION MODERNIZATION SERVICES MARKET 52
FIGURE 19 EVOLUTION OF APPLICATION MODERNIZATION SERVICES 56
FIGURE 20 KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET ECOSYSTEM 59
FIGURE 21 APPLICATION MODERNIZATION SERVICES MARKET: SUPPLY CHAIN ANALYSIS 62
FIGURE 22 AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE, 2024 (USD) 70
FIGURE 23 APPLICATION MODERNIZATION SERVICES MARKET: PORTER’S
FIVE FORCES ANALYSIS 73
FIGURE 24 PATENT ANALYSIS FOR APPLICATION MODERNIZATION SERVICES,
2016–2025 77
FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 82
FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS 83
FIGURE 27 KEY BUYING CRITERIA FOR TOP THREE VERTICALS 84
FIGURE 28 INVESTMENT AND FUNDING SCENARIO, 2022–2024 (USD MILLION) 88
FIGURE 29 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES 90
FIGURE 30 GENERATIVE AI BEST PRACTICES ACROSS MAJOR INDUSTRIES 92
FIGURE 31 CLOUD APPLICATION MIGRATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 102
FIGURE 32 CLOUD-NATIVE APPLICATIONS TO GROW AT HIGHEST CAGR DURING
FORECAST PERIOD 112
FIGURE 33 TELECOM SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD 119
FIGURE 34 NORTH AMERICA: MARKET SNAPSHOT 140
FIGURE 35 ASIA PACIFIC: MARKET SNAPSHOT 170
FIGURE 36 SHARE OF LEADING COMPANIES IN APPLICATION MODERNIZATION SERVICES MARKET, 2024 216
FIGURE 37 MARKET RANKING ANALYSIS OF TOP FIVE PLAYERS 219
FIGURE 38 REVENUE ANALYSIS OF KEY PLAYERS, 2020–2024 (USD MILLION) 220
FIGURE 39 APPLICATION MODERNIZATION SERVICES MARKET: BRAND/PRODUCT COMPARISON 221
FIGURE 40 FINANCIAL METRICS OF KEY APPLICATION MODERNIZATION
SERVICES VENDORS, 2025 222
FIGURE 41 COMPANY VALUATION, 2025 222
FIGURE 42 APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 224
FIGURE 43 COMPANY FOOTPRINT, 2024 225
FIGURE 44 APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 233
FIGURE 45 IBM: COMPANY SNAPSHOT 242
FIGURE 46 MICROSOFT: COMPANY SNAPSHOT 247
FIGURE 47 HCL TECHNOLOGIES: COMPANY SNAPSHOT 253
FIGURE 48 ACCENTURE: COMPANY SNAPSHOT 258
FIGURE 49 AWS: COMPANY SNAPSHOT 263
FIGURE 50 ATOS: COMPANY SNAPSHOT 267
FIGURE 51 CAPGEMINI: COMPANY SNAPSHOT 272
FIGURE 52 ORACLE: COMPANY SNAPSHOT 277
FIGURE 53 COGNIZANT: COMPANY SNAPSHOT 283
FIGURE 54 TCS: COMPANY SNAPSHOT 287
