According to new market research report "Application Transformation Market by Service
(Cloud Application Migration, Application Replatforming, Application
Integration), Organization Size, Vertical (Retail, IT & Telecom,
Government, Healthcare, Manufacturing), and Region - Global Forecast to
2024",
The global application transformation market size to grow from USD 9.7 billion
in 2019 to USD 16.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of
11.6% during 2019–2024.
The emergence of cloud and big data technologies has
taken the transformation process to a new and advanced level. The enterprises
are striving to achieve a competitive advantage, which can be achieved with the
application transformation process in place. The constant need to be updated
with new technologies and enhance the Return on Investment (RoI) requires a
scientific approach and agile methodology to mitigate the key risks and
challenges involved in the existing legacy applications. These factors are
expected to drive the global application transformation market.
Browse and
in-depth TOC on “Application
Transformation Market”
44
- Tables
28
- Figures
114
- Pages
Application integration service to account for the
highest market share during the forecast period
Application integration is the process of
integrating one or more application program’s data or processes with that of
other application programs. The existing legacy applications can be integrated
into new applications, which leverage the internet, eCommerce, extranet, and
other new technologies. Application integration assists in the maintenance and
presentation of the data in various application systems, which are
synchronized. It can connect to backend application systems to retrieve and
insert data. Application integration is necessary for organizations to optimize
their IT landscapes, gain business agility, and easily access data from devices
and social channels
Large enterprises to account for a higher market
share during the forecast period
Large enterprises are defined as business entities
employing over 1,000 employees. The adoption of application transformation in
large enterprises is high, and the trend is expected to continue during the
forecast period. The large enterprises are keen to invest in new and latest
technologies to run their business effectively. These enterprises are
modernizing their legacy applications to reduce their Capital expenditure
(CapEx) and Operating expense (OpEx). The enterprises have dedicated in-house
Information Technology (IT) resources with large IT budgets, therefore, can
consider deploying a variety of application modernization strategies.
North America to account for the highest market
share during the forecast period
The US accounts for the highest market share in the
application transformation market. The US and Canada are also the leading
countries in retail, financial services, banking, and other industries, such as
transportation and manufacturing. The US is expected to have the highest market
share among all the countries in the application transformation market during
the forecast period. It is a technologically advanced country with strong
regulations for various verticals.
Major vendors in the global application
transformation market include Atos (France), Tech Mahindra (India), Fujitsu
(Japan), HCL (India), Cognizant (US), Pivotal Software (US), Accenture
(Ireland), IBM (US), TCS (India), Asysco (Netherlands), Unisys (US), Hexaware
(India), Oracle (US), Micro Focus (UK), Bell Integrator (US), and Macrosoft
(US).
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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