The Application Modernization Services Market is projected to grow at a CAGR of 19.4% during the forecast period. The Application Modernization Services Market is growing and the experts have predicted the future stats of Application Modernization Services. Application Modernization Services Market report contains the top corporate profiles and strategies with industry analysis and trends.
The complete report of Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming, Application Integration, UI Modernization), Organization Size, Vertical, and Region – Global Forecast to 2022 is now available on http://www.rnrmarketresearch.com/application-modernization-services-market-by-service-application-portfolio-assessment-cloud-application-migration-application-replatforming-application-integration-ui-modernization-organization-size-vertical-st-to-2022-market-report.html
The application modernization services market size is expected to grow from USD 6.87 billion in 2017 to USD 16.67 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. The major driver for the upsurge in demand for the application modernization services market is the adoption of cloud computing in the application modernization strategy. The major restraining factor is the large investments made on legacy systems, which have delayed the application modernization plans.
The manufacturing vertical is expected to witness the highest growth rate during the forecast period, owing to the need of improving the operational process, reducing the cost, and rolling out products in a quick time frame, further eliminating the location barriers. In addition, there is high penetration of advance technologies, such as cloud computing, big data and analytics, mobility, and artificial intelligence, which are transforming the manufacturing vertical.
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Break of primary participants in Application Modernization Services Market was as mentioned below:
By Company Size: Tier 1 = 20 %, Tier 2 = 55%, and Tier 3 = 25%
By Designation Level: C-Level Executives = 50%, Directors= 25%, and Others= 25%
By Region: Americas = 60%, Europe = 25%, APAC = 10%, and RoW = 5%
Major players of Application Modernization Services Market Report are:
The key players operating in the Application Modernization Services market are Accenture (Republic of Ireland), Asysco (Netherlands), Atos (France), Bell Integrator (US), Capgemini (France), Cognizant (US), Fujitsu (Japan), HCL (India), IBM (US), Macrosoft Inc. (US), Micro Focus (UK), Oracle (US), Tech Mahindra(India), UST Global (US).
FAQ’s regarding the Application Modernization Services Market Report are:
What is Market Penetration of Application Modernization Services?
Comprehensive information on the product portfolios of the top players in the Application Modernization Services market
What is Product Development/Innovation of Application Modernization Services?
Detailed insights on the upcoming technologies, R&D activities, and product launches in the Application Modernization Services market
What is Competitive Assessment of Application Modernization Services?
In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the Application Modernization Services market
What is Market Development of Application Modernization Services?
Comprehensive information about emerging markets. This report analyzes the market for various Application Modernization Services products across geographies
What is Market Diversification of Application Modernization Services?
Exhaustive information about new products, untapped geographies, recent developments, and investments in the Application Modernization Services market
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The large enterprises segment is expected to hold the largest market share during the forecast period, owing to the need to reduce the high Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). Large enterprises have dedicated in-house IT resources, and with large IT budgets, they can consider a variety of application modernization strategies. In addition, they have a global presence, high market share, technical expertise, and an effective business strategy.
As per the geographic analysis, the Asia Pacific (APAC) region is expected to witness the fastest growth in the application modernization services market, due to increased spending on improving the infrastructure, and the growing adoption of big data and cloud computing technologies. North America is expected to hold the largest market share during the forecast period, owing to the early adoption of application modernization services technology and high penetration of advance cloud technologies.
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