The global Bioactive Ingredients Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Application Portfolio Assessment, Cloud Application Migration, Application Re-Platforming, Application Integration, UI Modernization, Post-Modernization), By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), By Enterprise Size (Large Enterprise, SMEs), By End-User (BFSI, Retail & E-commerce, Manufacturing, IT & Telecommunication, Energy and Utilities, Healthcare & Life Sciences, Others).
The Application Modernization Services Market is centered on updating legacy software systems to align with modern computing standards and business needs. These services encompass various strategies, such as re-platforming, re-hosting, code refactoring, and adopting microservices architectures. This market is growing as organizations seek to improve agility, reduce operational costs, and enhance user experiences by leveraging cloud technologies, DevOps practices, and advanced analytics. The demand for application modernization is driven by the need to stay competitive, secure, and compliant in a rapidly evolving digital landscape.
The market report analyses the leading companies in the industry including Accenture, Capgemini, Cognizant, DXC Technology, HCL Technologies, IBM, Infosys, NTT DATA Corp, Tata Consultancy Services, Wipro
A prominent trend in the Application Modernization Services Market is the increasing adoption of cloud migration and digital transformation initiatives by businesses. Organizations are modernizing their legacy applications to leverage cloud computing, improve scalability, enhance agility, and enable seamless integration with modern technologies like AI and IoT.
The primary driver for the Application Modernization Services Market is the obsolescence of legacy systems and the need for cost-efficient solutions. Legacy applications often face challenges such as lack of support, security vulnerabilities, and high maintenance costs. Businesses are driven to modernize these systems to stay competitive, reduce operational expenses, and enhance overall performance.
An opportunity in the Application Modernization Services Market lies in the integration of AI and automation technologies. Service providers can offer solutions that leverage AI-driven automation tools to accelerate the modernization process, reduce manual efforts, and improve the accuracy of code conversion and testing. This can lead to faster time-to-market for modernized applications and increased customer satisfaction.
The fastest-growing segment in the Application Modernization Services Market is Cloud Application Migration, propelled by the increasing adoption of cloud technologies across various industries. Organizations are migrating their legacy applications to the cloud to leverage its scalability, flexibility, and cost-effectiveness. This trend is particularly evident among large enterprises and SMEs alike, seeking to modernize their IT infrastructure and optimize operational efficiency. Furthermore, industries such as BFSI, Retail & E-commerce, and IT & Telecommunication are driving significant demand for cloud application migration services, aiming to enhance agility, customer experience, and competitiveness in the digital landscape.
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
OthersRegions Included
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Accenture
Capgemini
Cognizant
DXC Technology
HCL Technologies
IBM
Infosys
NTT DATA Corp
Tata Consultancy Services
Wipro
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Application Modernization Services Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Application Modernization Services Market Size Outlook, $ Million, 2021 to 2030
3.2 Application Modernization Services Market Outlook by Type, $ Million, 2021 to 2030
3.3 Application Modernization Services Market Outlook by Product, $ Million, 2021 to 2030
3.4 Application Modernization Services Market Outlook by Application, $ Million, 2021 to 2030
3.5 Application Modernization Services Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Application Modernization Services Industry
4.2 Key Market Trends in Application Modernization Services Industry
4.3 Potential Opportunities in Application Modernization Services Industry
4.4 Key Challenges in Application Modernization Services Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Application Modernization Services Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Application Modernization Services Market Outlook by Segments
7.1 Application Modernization Services Market Outlook by Segments, $ Million, 2021- 2030
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
8 North America Application Modernization Services Market Analysis and Outlook To 2030
8.1 Introduction to North America Application Modernization Services Markets in 2024
8.2 North America Application Modernization Services Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Application Modernization Services Market size Outlook by Segments, 2021-2030
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
9 Europe Application Modernization Services Market Analysis and Outlook To 2030
9.1 Introduction to Europe Application Modernization Services Markets in 2024
9.2 Europe Application Modernization Services Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Application Modernization Services Market Size Outlook by Segments, 2021-2030
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
10 Asia Pacific Application Modernization Services Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Application Modernization Services Markets in 2024
10.2 Asia Pacific Application Modernization Services Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Application Modernization Services Market size Outlook by Segments, 2021-2030
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
11 South America Application Modernization Services Market Analysis and Outlook To 2030
11.1 Introduction to South America Application Modernization Services Markets in 2024
11.2 South America Application Modernization Services Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Application Modernization Services Market size Outlook by Segments, 2021-2030
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
12 Middle East and Africa Application Modernization Services Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Application Modernization Services Markets in 2024
12.2 Middle East and Africa Application Modernization Services Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Application Modernization Services Market size Outlook by Segments, 2021-2030
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Accenture
Capgemini
Cognizant
DXC Technology
HCL Technologies
IBM
Infosys
NTT DATA Corp
Tata Consultancy Services
Wipro
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
Application Portfolio Assessment
Cloud Application Migration
Application Re-Platforming
Application Integration
UI Modernization
Post-Modernization
By Deployment
Public Cloud
Private Cloud
Hybrid Cloud
By Enterprise Size
Large Enterprise
SMEs
By End-User
BFSI
Retail & E-commerce
Manufacturing
IT & Telecommunication
Energy and Utilities
Healthcare & Life Sciences
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Application Modernization Services Market Size is forecast to reach $65.8 Billion in 2032 from $18.1 Billion in 2024, registering an optimistic growth rate (CAGR) of 17.5%.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Accenture, Capgemini, Cognizant, DXC Technology, HCL Technologies, IBM, Infosys, NTT DATA Corp, Tata Consultancy Services, Wipro
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: Revenue (USD); Volume