According
to market research report on "Application
Modernization Services Market by Service (Application Portfolio Assessment, Cloud
Application Migration, Application Replatforming), Cloud Deployment Mode,
Organization Size, Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Application Modernization Services Market size
is expected to grow from USD 11.4 billion in 2020 to USD 24.8 billion by 2025,
at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period.
Key factors driving
the Application Modernization Services
Market include growth of cloud services, large scale migration of
workloads to cloud-based and Service Oriented Structure (SOA), rising focus
transforming and modernizing legacy systems, and rise in demand for modern
infrastructure to ensure business continuity.
Browse and in-depth TOC on “Application
Modernization Services Market”
302
- Tables
47
- Figures
260
- Pages
By service, the
application re-platforming segment to hold the largest market size during the
forecast period
The application
re-platforming segment to hold the largest market size during the forecast
period. Application re-platforming as re-platforming offers faster application
delivery and time-to-market, along with flexibility, scalability, faster
networking speeds, and reduced TCO. To keep up with rapid technology evolution
and the demands of current markets, large organizations are urged to adopt
modernization services for their legacy systems, thereby increasing the demand
for application migration to cloud and leading re-platforming services to grow.
By cloud deployment mode,
hybrid cloud segment to grow at the
highest rate during the forecast period
With rapid demand for
applications that can reside on different cloud infrastructures with the help
of new technologies such as containerization and microservices, has helped
increase demand for hybrid cloud infrastructure. It is a must to assess the
movement of applications to hybrid cloud, wherein the best of both private and
public cloud features can be utilized. Thereby, growing the requirement for
hybrid cloud services at a fast pace.
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North America to hold the largest market size during the forecast period
North America is expected
to account for the largest market size in the Application Modernization Services Market by
region during the forecast period. The region houses various service providers
who are continuously engaged in delivering cloud based, and advanced technology
infrastructure and solutions. Increasing need to reduce costs associated with
software development and demand for better customer experience is expected to
boost the adoption of application modernization services technology in North
America.
The Application Modernization Services Market comprises
major solution providers, such as Accenture (Ireland), IBM (US), Atos (France),
HCL (India), Capgemini (France), Bell Integrator (US), Blu Age (France),
Cognizant (US), Aspire Systems (India), Dell (US), DXC Technology (US), EPAM
Systems (US), Fujitsu (Japan), Hexaware (India), Infosys (India), Innova
Solutions (US), LTI (US), Microfocus (UK), MongoDB (US), NTT Data (Japan),
Oracle (US), Softura (US), TCS (India), Virtusa (US), and Wipro (India). The
study includes an in-depth competitive analysis of key players in the Application Modernization
Services Market with their company profiles, recent developments,
and key market strategies.
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Content Source:https://www.marketsandmarkets.com/PressReleases/application-modernization-services.asp
Reports: https://www.marketsandmarkets.com/Market-Reports/application-modernization-services-market-149625724.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-modernization-services.asp
Reports: https://www.marketsandmarkets.com/Market-Reports/application-modernization-services-market-149625724.html
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