Global Application Modernization Services Market – Industry Analysis and Forecast (2019-2026) _ by Services, by Organization Size, by Vertical and by Geography
Global Application Modernization Services Market is expected to reach USD XX Billion by 2026 from USD XX Billion in 2018 at a CAGR of XX%.
Global Application Modernization Services Market
Growing need for business agility and faster time to market, benefits of leveraging big data technologies in the connected era, cloud computing-a major component of application modernization strategy are driving the application modernization services market. Large investments made on legacy systems delaying the application modernization plans and shortage of skilled resources for legacy technologies are restraining factors of market. Open-source technology offers opportunity while application modernization-a time-intensive process, architectural and operational complexities will act a challenges for application modernization services market
Small and medium enterprises organization segment is anticipated to hold the largest market share and will continue to grow at the highest rate, owing to the high adoption of the lift-and-shift migration strategy, which enables their businesses to scale and grow faster.
Advanced operational process, reducing the cost, and rolling out products in a quick time frame, further eliminating the location barriers. In addition, high penetration of advance technologies, such as cloud computing, big data and analytics, mobility, and artificial intelligence will transform the manufacturing vertical. This factor in turn has made manufacturing vertical as a fastest growing segment.
Application Modernization Services Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. The swift growth of the market in the Asia Pacific region is anticipated to dominate the market over the forecast period majorly due to rapid growth in the application modernization services over the forecast period this is majorly due to the rising spending in order to improve the infrastructure and swift growth in the big data and cloud computing technologies.
Scope of the Report:
Application Modernization Services Market, by Services
• Application portfolio assessment
• Application replatforming
• Cloud application migration
• Application integration
• User Interface (UI) modernization
Application Modernization Services Market, by Organization Size
• Small & Medium Enterprises
• Large Enterprises
Application Modernization Services Market, by Vertical
• Banking, Financial Services, and Insurance (BFSI)
• IT and telecom
Application Modernization Services Market, by Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players of the Application Modernization Services Market:
• Bell Integrator
• Macrosoft Inc.
• Oracle Corporation
• Ust Global
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