According to 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).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000
high growth niche opportunities/threats which will impact 70% to 80% of
worldwide companies’ revenues. Currently servicing 7500 customers worldwide
including 80% of global Fortune 1000 companies as clients. Almost 75,000 top
officers across eight industries worldwide approach MarketsandMarkets™ for
their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are
tracking global high growth markets following the "Growth Engagement Model
– GEM". The GEM aims at proactive collaboration with the clients to
identify new opportunities, identify most important customers, write
"Attack, avoid and defend" strategies, identify sources of
incremental revenues for both the company and its competitors.
MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top
players across leaders, emerging companies, innovators, strategic players)
annually in high growth emerging segments. MarketsandMarkets™ is determined to
benefit more than 10,000 companies this year for their revenue planning and
help them take their innovations/disruptions early to the market by providing
them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market
research platform, "Knowledgestore" connects over 200,000 markets and
entire value chains for deeper understanding of the unmet insights along with
market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/application-transformation.asp
Report: https://www.marketsandmarkets.com/Market-Reports/application-transformation-market-685357.html
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/application-transformation.asp
Report: https://www.marketsandmarkets.com/Market-Reports/application-transformation-market-685357.html
No comments:
Post a Comment