The Business Research Company’s Application Modernization Services Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Application Modernization Services Global Market Report 2023 evaluates application modernization services market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global landscape of application modernization services is poised for substantial expansion, with market projections indicating a promising growth trajectory. In 2022, the market’s estimated value stood at $15.63 billion, and by the end of 2023, it is anticipated to soar to an impressive $18.43 billion, showcasing a robust compound annual growth rate (CAGR) of 17.9%. This upward trajectory, however, faces a challenging backdrop in the form of the Russia-Ukraine conflict, which has cast a shadow on the global economic recovery in the short term.
The conflict between Russia and Ukraine has sent ripples across the world economy, triggering a cascade of economic sanctions targeting numerous nations. In addition, it has engendered a surge in commodity prices and supply chain disruptions, culminating in inflationary pressures that reverberate through the domains of goods and services. This complex geopolitical scenario has created a ripple effect impacting markets worldwide, including the application modernization services sector.
Despite these challenges, the outlook for the global application modernization services market remains positive. Projections suggest a continued upward trajectory, with the market size expected to reach $35.80 billion by 2027, underpinned by a steady CAGR of 18.0%. The driving force behind this promising growth is the escalating adoption of digital technologies and applications by a burgeoning number of businesses.
Digital technologies encompass a wide array of electronic systems, devices, and resources that play a pivotal role in data generation, storage, and processing. Application modernization services offer organizations a transformative avenue to revamp their IT infrastructure and applications through the incorporation of cutting-edge technologies. Notably, a global survey conducted by Software AG, a prominent German software company, in 2020 unveiled a staggering statistic – 97% of polled IT directors indicated that their organizations had embarked on digital transformation initiatives. This commitment to digital transformation initiatives persisted into 2021.
Hence, the accelerating integration of digital technologies and applications within the business landscape serves as a powerful catalyst propelling the application modernization services market forward. As businesses strive to remain agile and competitive in a rapidly evolving technological landscape, the demand for these services is set to continue its upward trajectory, reshaping the future of IT infrastructure and application modernization.
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The application modernization services market segments in the report are:
1) By Type: Cobol, ADA, PL/1, RPG, Assembler, PowerBuilder, Others Types
2) By Cloud Deployment Mode: Private Cloud, Public Cloud, Hybrid Cloud
3) By Application: Post Modernisation, Application Portfolio Assignment, Ui Modernisation, Cloud Application Mitigation, Application Integration, Application Re Platforming
4) By Vertical: BFSI, Healthcare and Life Sciences, Telecommunications, IT and ITeS, Retail and Consumer Goods, Government and Public Sector, Energy and Utilities, Manufacturing, Others Vertical
Top 5 Major Players:
Table of contents :
1. Executive Summary
2. Application Modernization Services Market Characteristics
3. Application Modernization Services Market Trends And Strategies
4. Application Modernization Services Market – Macro Economic Scenario
5. Application Modernization Services Market Size And Growth
….
26. Africa Application Modernization Services Market
27. Application Modernization Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Application Modernization Services Market
29. Application Modernization Services Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Application Modernization Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Application Modernization Services Market, Segmentation By Cloud Deployment Mode, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Application Modernization Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
….
Table 47: Accenture PLC Financial Performance
Table 48: Aspire Systems Inc Financial Performance
Table 49: BLU AGE Financial Performance
Table 50: Dell Inc Financial Performance
Table 51: HCL Technologies Limited Financial Performance
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