Application Modernization Services Market by Service Type (Cloud Application Migration, Application Re-Platforming, Post Modernization), Application Type (Legacy, Cloud-hosted, Cloud-native) - Global Forecast to 2029
The Application modernization services market was estimated to be USD 19.82 billion in 2024 to USD 39.62 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 14.8%. There are a few factors owing to which the application modernization services market is experiencing growth. As it is the era of very fast and advanced technological changes, a business cannot afford to take its eyes off the need to renew its old applications in order to stay in business and realize its efficiency. Often when the business has grown sufficiently in scope, coverage and even network, the legacy systems in place can hardly meet current business demands because they are constrained by scale, flexibility and even integration with new age technologies. The increased use of cloud technology is another key driver, with many organizations aiming to utilize cloud providers due to the size and low costs of operations offered by them. As a result of this digital evolution, companies have been forced to undergo the application transformation since it is important that such applications work well with advanced technologies like Artificial Intelligence, machine language and internet of things.
Moreover, with the increasing focus on securing data and compliance, organizations are also actively migrating their deployments to newer versions of applications developed to meet the changing needs of regulations aimed at addressing cybersecurity issues. Additionally, better performance of applications and improving user experience with such applications are another reason for enhanced modernization trends since every business strives to improve how its customers interact with the business digitally. The need to reduce operating costs at the same time increasing agility and speed to market is also a major factor as after application modernization, new features and services can be rolled out at a shorter period. Overall, these are the reasons for the high demand for services concerning application modernization as organizations want to redesign their technological frameworks in response to their strategic objectives and operational effectiveness.
“The Heathcare & Life Sciences vertical is expected to have second largest market size during the forecast period.” The healthcare and life sciences vertical is expected to hold the second highest market share in the application modernization services market next to telecom through the forecast period as it enhances the demand for advanced digital solutions. Therefore, the healthcare sector is witnessing a great transformation from the ever-growing adoption of electronic health records, telemedicine, and AI-driven diagnostics. It requires more efficient systems of IT that improve operational efficiency and facilitate better patient care while being in step regarding compliance with standards for the regulatory requirements. Demand for cloud solutions that ensure security and scalability along with the integration of new technologies with the existing systems further promotes growth in this space.
“The cloud-native applications segment will witness the highest growth during the forecast period.” In the application modernization services, owing to their vast potential for growth in aspects such as scalability, flexibility, and efficiency over and above the others, cloud-native applications are projected to have a greater increase within the forecasted period. On the other hand, while legacy applications offer services in a nutshell as one piece and more often rely on underlying physical structures, such as servers and data centers, cloud-native applications are cloud-centric and are constructed using enhanced structural designs such as that of microservices, containerized booting and scheduling management systems. This allows players in the industry to be able to change according to the changes in the business environment, increase the resources when need arises and minimize unnecessary operational costs. Besides, the increased use of cloud-based solutions and the maturing of cloud technologies help push the need for cloud-native applications because such solutions have outweighed the market challenges to deliver faster, better results, and optimized user experience. The most important technological trend has also been the continuous and sustained drive towards digitizing businesses’ processes for improved efficiency, which therefore means the development of able and responsive system solutions to the modern need for cloud based solutions will make transition to the more use of cloud-native applications more faster hence this explains the expected higher growth rate of such applications in the application modernization services market.
“Asia Pacific's highest growth rate during the forecast period.”
The application modernization services market in the forecast period is anticipated to grow at a higher pace in the Asia-Pacific region owing to a number of underlying reasons. One of the reasons is the digital transformation of the region, which has been facilitated by the growing use of cloud computing and other emerging technologies as well as the quest for efficiency by business operations. There is an increase in IT spending and digital activities in countries like China and India, which creates a need for such services to modernize the aging management systems and incorporate new technologies. The growth of the sector is also enhanced by the efforts of global technology providers and the influx of local enterprises which are enhancing competition. The increasing affluence of the population as well as the trend towards a population that is more technologically inclined is another major factor that is increasing the need for sophisticated and high-capacity application modernization services within the region.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
Research Coverage
The market study covers the application modernization services market size across different segments. It aims at estimating the market size and the growth potential across different segments, including service types, application types, verticals, and region. The service type includes application portfolio assessment, cloud application migration, application re-platforming, application integration, UI/UX modernization, and post modernization. Further, the application types include legacy applications, cloud-hosted applications, and cloud-native applications. The verticals include BFSI, Healthcrae & Life Sciences, Telecom, IT & ITeS, Retail & eCommerce, Government, Energy & Utilities, Transportation & Logistics, Media & Entertainment, and Manufacturing. The regional analysis of the Application modernization services market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the global Application modernization services market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
1. Analysis of key drivers (rising digital transformation initiatives, demand for flexibility and scalability through cloud computing, rapid technological advancements), restraints (high costs and complexity, legacy system dependencies), opportunities (emerging markets and SMEs, evolution of open standards for software development), and challenges (vendor lock-in and platform dependencies, managing technical debt) influencing the growth of the application modernization services market.
2. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the application modernization services market.
3. Market Development: Comprehensive information about lucrative markets – the report analyses the application modernization services market across various regions.
4. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the application modernization services market.
5. Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players Oracle (US), IBM (US), Microsoft (US), HCL Technologies (India), Accenture (Ireland), ATOS SE (France), Capgemini (France), Cognizant (US), Tata Consultancy Services (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), EPAM Systems (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US), and Geomotiv (US).
Moreover, with the increasing focus on securing data and compliance, organizations are also actively migrating their deployments to newer versions of applications developed to meet the changing needs of regulations aimed at addressing cybersecurity issues. Additionally, better performance of applications and improving user experience with such applications are another reason for enhanced modernization trends since every business strives to improve how its customers interact with the business digitally. The need to reduce operating costs at the same time increasing agility and speed to market is also a major factor as after application modernization, new features and services can be rolled out at a shorter period. Overall, these are the reasons for the high demand for services concerning application modernization as organizations want to redesign their technological frameworks in response to their strategic objectives and operational effectiveness.
“The Heathcare & Life Sciences vertical is expected to have second largest market size during the forecast period.” The healthcare and life sciences vertical is expected to hold the second highest market share in the application modernization services market next to telecom through the forecast period as it enhances the demand for advanced digital solutions. Therefore, the healthcare sector is witnessing a great transformation from the ever-growing adoption of electronic health records, telemedicine, and AI-driven diagnostics. It requires more efficient systems of IT that improve operational efficiency and facilitate better patient care while being in step regarding compliance with standards for the regulatory requirements. Demand for cloud solutions that ensure security and scalability along with the integration of new technologies with the existing systems further promotes growth in this space.
“The cloud-native applications segment will witness the highest growth during the forecast period.” In the application modernization services, owing to their vast potential for growth in aspects such as scalability, flexibility, and efficiency over and above the others, cloud-native applications are projected to have a greater increase within the forecasted period. On the other hand, while legacy applications offer services in a nutshell as one piece and more often rely on underlying physical structures, such as servers and data centers, cloud-native applications are cloud-centric and are constructed using enhanced structural designs such as that of microservices, containerized booting and scheduling management systems. This allows players in the industry to be able to change according to the changes in the business environment, increase the resources when need arises and minimize unnecessary operational costs. Besides, the increased use of cloud-based solutions and the maturing of cloud technologies help push the need for cloud-native applications because such solutions have outweighed the market challenges to deliver faster, better results, and optimized user experience. The most important technological trend has also been the continuous and sustained drive towards digitizing businesses’ processes for improved efficiency, which therefore means the development of able and responsive system solutions to the modern need for cloud based solutions will make transition to the more use of cloud-native applications more faster hence this explains the expected higher growth rate of such applications in the application modernization services market.
“Asia Pacific's highest growth rate during the forecast period.”
The application modernization services market in the forecast period is anticipated to grow at a higher pace in the Asia-Pacific region owing to a number of underlying reasons. One of the reasons is the digital transformation of the region, which has been facilitated by the growing use of cloud computing and other emerging technologies as well as the quest for efficiency by business operations. There is an increase in IT spending and digital activities in countries like China and India, which creates a need for such services to modernize the aging management systems and incorporate new technologies. The growth of the sector is also enhanced by the efforts of global technology providers and the influx of local enterprises which are enhancing competition. The increasing affluence of the population as well as the trend towards a population that is more technologically inclined is another major factor that is increasing the need for sophisticated and high-capacity application modernization services within the region.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
- By Designation: C-level –50%, D-level – 30%, and Others – 20%
- By Region: North America – 38%, Europe – 15%, Asia Pacific – 35%, Middle East & Africa – 7%, and Latin America- 5%.
Research Coverage
The market study covers the application modernization services market size across different segments. It aims at estimating the market size and the growth potential across different segments, including service types, application types, verticals, and region. The service type includes application portfolio assessment, cloud application migration, application re-platforming, application integration, UI/UX modernization, and post modernization. Further, the application types include legacy applications, cloud-hosted applications, and cloud-native applications. The verticals include BFSI, Healthcrae & Life Sciences, Telecom, IT & ITeS, Retail & eCommerce, Government, Energy & Utilities, Transportation & Logistics, Media & Entertainment, and Manufacturing. The regional analysis of the Application modernization services market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the global Application modernization services market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
1. Analysis of key drivers (rising digital transformation initiatives, demand for flexibility and scalability through cloud computing, rapid technological advancements), restraints (high costs and complexity, legacy system dependencies), opportunities (emerging markets and SMEs, evolution of open standards for software development), and challenges (vendor lock-in and platform dependencies, managing technical debt) influencing the growth of the application modernization services market.
2. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the application modernization services market.
3. Market Development: Comprehensive information about lucrative markets – the report analyses the application modernization services market across various regions.
4. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the application modernization services market.
5. Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players Oracle (US), IBM (US), Microsoft (US), HCL Technologies (India), Accenture (Ireland), ATOS SE (France), Capgemini (France), Cognizant (US), Tata Consultancy Services (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), EPAM Systems (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US), and Geomotiv (US).
INTRODUCTION
1. STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3. MARKET SEGMENTATION
1.3.2 INCLUSIONS & EXCLUSIONS
1.4 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2. RESEARCH DATA
2.1. SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2. Primary interviews with experts
2.1.2.2 Breakdown of primary profiles
2.1.2.3 Key insights from industry experts
2.2 MARKET SIZE ESTIMATION
2.2. TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
2.3 DATA TRIANGULATION
2.4 LIMITATIONS AND RISK ASSESSMENT
2.5 RESEARCH ASSUMPTIONS
2.6 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4. OPPORTUNITIES FOR KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET
4.2 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE
4.3 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE
4.4 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL
4.5 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET: TOP THREE SERVICE TYPES AND VERTICALS
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5. INTRODUCTION
5.2 MARKET DYNAMICS
5.2. DRIVERS
5.2.1. Rise in digital transformation initiatives
5.2.1.2 Demand for flexibility and scalability through cloud computing
5.2.1.3 Rapid technological advancements
5.2.1.4 Shift toward modernization by cloud-native technologies
5.2.1.5 Stringent regulatory compliance and security
5.2.2 RESTRAINTS
5.2.2. High costs and complexity
5.2.2.2 Legacy system dependencies
5.2.3 OPPORTUNITIES
5.2.3. Proliferation of Kubernetes and containerization
5.2.3.2 Evolution of open standards for software development
5.2.3.3 Emerging markets and SMEs
5.2.3.4 Existence of large number of legacy applications
5.2.4 CHALLENGES
5.2.4. Vendor lock-in and platform dependencies
5.2.4.2 Managing technical debt
5.3 BRIEF HISTORY OF APPLICATION MODERNIZATION SERVICES
5.4 ECOSYSTEM ANALYSIS
5.5 CASE STUDY ANALYSIS
5.5. MODERNIZATION OF ATRUVIA AG’S BANKING APPLICATION
5.5.2 LEGACY SYSTEMS’ MODERNIZATION FOR BIOPHARMA BY HCL ON AWS
5.5.3 APPLICATION MODERNIZATION FOR LEADING MEDICAL LABORATORY RESULTING IN BETTER ROI
5.5.4 UNIPER ENERGY’S UK TRADING SOLUTIONS MODERNIZED BY INFOSYS
5.6 SUPPLY CHAIN ANALYSIS
5.7 REGULATORY LANDSCAPE
5.7. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2 REGULATIONS
5.7.2. North America
5.7.2.1. US
5.7.2.1.2 Canada
5.7.2.2 Europe
5.7.2.2. UK
5.7.2.2.2 Germany
5.7.2.3 Asia Pacific
5.7.2.3. South Korea
5.7.2.3.2 China
5.7.2.3.3 Japan
5.7.2.3.4 India
5.7.2.4 Middle East & Africa
5.7.2.4. UAE
5.7.2.4.2 KSA
5.7.2.5 Latin America
5.7.2.5. Brazil
5.7.2.5.2 Mexico
5.8 PRICING ANALYSIS
5.8. AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SERVICE TYPE
5.8.2 INDICATIVE PRICING ANALYSIS, BY SERVICE FEATURE
5.9 PORTER’S FIVE FORCES ANALYSIS
5.9. THREAT OF NEW ENTRANTS
5.9.2 THREAT OF SUBSTITUTES
5.9.3 BARGAINING POWER OF BUYERS
5.9.4 BARGAINING POWER OF SUPPLIERS
5.9.5 INTENSITY OF COMPETITIVE RIVALRY
5.10 TECHNOLOGY ANALYSIS
5.10. KEY TECHNOLOGIES
5.10.1. Cloud platforms
5.10.1.2 Containerization
5.10.1.3 DevOps tools and CI/CD pipelines
5.10.1.4 Microservices architecture
5.10.1.5 API management platforms
5.10.1.6 Low-code/No-code platforms
5.10.2 ADJACENT TECHNOLOGIES
5.10.2. Edge computing
5.10.2.2 5G and Next-generation networks
5.10.2.3 Blockchain
5.10.2.4 Quantum computing
5.10.2.5 Augmented reality (AR) and virtual reality (VR)
5.10.3 COMPLEMENTARY TECHNOLOGIES
5.10.3. AI/ML integration
5.10.3.2 Robotic process automation (RPA)
5.10.3.3 Identity and access management (IAM)
5.10.3.4 Data lakes and data warehousing
5.10.3.5 Enterprise service bus (ESB)
5.1 PATENT ANALYSIS
5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA
5.13. KEY STAKEHOLDERS IN BUYING PROCESS
5.13.2 BUYING CRITERIA
5.14 KEY CONFERENCES AND EVENTS, 2024–2025
5.15 TECHNOLOGY ROADMAP FOR APPLICATION MODERNIZATION SERVICES MARKET
5.15. SHORT-TERM ROADMAP (2023–2025)
5.15.2 MID-TERM ROADMAP (2026–2028)
5.15.3 LONG-TERM ROADMAP (2029–2030)
5.16 BEST PRACTICES IN APPLICATION MODERNIZATION SERVICES MARKET
5.16. CONDUCT THOROUGH ASSESSMENT
5.16.2 DEFINE CLEAR GOALS AND OBJECTIVES
5.16.3 DEVELOP MODERNIZATION ROADMAP
5.16.4 CHOOSE RIGHT MODERNIZATION APPROACH
5.16.5 PRIORITIZE APPLICATIONS FOR MODERNIZATION
5.16.6 OPTIMIZE FOR CLOUD
5.16.7 ENSURE CONTINUOUS MONITORING AND OPTIMIZATION
5.16.8 ENGAGE STAKEHOLDERS THROUGHOUT PROCESS
5.17 CURRENT AND EMERGING BUSINESS MODELS
5.17. PLATFORM-AS-A-SERVICE (PAAS)
5.17.2 CONSULTATIVE SERVICES MODEL
5.17.3 OUTCOME-BASED MODELS
5.17.4 OPEN-SOURCE MODEL
5.17.5 CO-DEVELOPMENT MODEL
5.17.6 AUTOMATED MODELS
5.18 APPLICATION MODERNIZATION SERVICE TOOLS, FRAMEWORKS, AND TECHNIQUES
5.19 INVESTMENT AND FUNDING SCENARIO
5.20 IMPACT OF ARTIFICIAL INTELLIGENCE (AI)/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES
5.20. IMPACT OF AI/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES
5.20.2 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES
5.2 7 ‘R’S OF APPLICATION MODERNIZATION
5.21. REHOST
5.21.2 RE-PLATFORM
5.21.3 REFACTOR
5.21.4 REVISE
5.21.5 REBUILD
5.21.6 REPLACE
5.21.7 RETIRE
6 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE
6. INTRODUCTION
6.1. SERVICE TYPE: MARKET DRIVERS
6.1.2 APPLICATION PORTFOLIO ASSESSMENT
6.1.2. Need for strategic evaluation to streamline modernization paths to drive initial adoption of portfolio assessments
6.1.3 CLOUD APPLICATION MIGRATION
6.1.3. Rapid adoption of cloud infrastructure to support these services as businesses seek scalability and cost-efficiency
6.1.4 APPLICATION RE-PLATFORMING
6.1.4. Demand for performance optimization without complete rewrites
6.1.5 APPLICATION INTEGRATION
6.1.5. Increase in complexity of hybrid environments to drive need for seamless application integration across cloud and legacy systems
6.1.6 UI/UX MODERNIZATION
6.1.6. Growth in emphasis on user-centric digital experiences to sustain demand for UI/UX modernization
6.1.7 POST-MODERNIZATION SERVICES
6.1.7. Ongoing need for support in maintaining modernized applications to ensure steady, albeit slower, growth of post-modernization services
7 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE
7. INTRODUCTION
7.1. APPLICATION TYPE: MARKET DRIVERS
7.1.2 LEGACY APPLICATIONS
7.1.2. Need to reduce operational costs of legacy applications and integrate with modern technologies; their dominance set to decline as businesses shift to cloud solutions
7.1.3 CLOUD-HOSTED APPLICATIONS
7.1.3. Growth in demand for scalable and cost-efficient IT infrastructure to fuel adoption of cloud-hosted application modernization
7.1.4 CLOUD-NATIVE APPLICATIONS
7.1.4. Push for innovation, scalability, and speed in digital transformation to drive rapid adoption of cloud-native applications
8 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL
8. INTRODUCTION
8.1. VERTICAL: MARKET DRIVERS
8.2 BFSI
8.2. NEED FOR SECURE, SCALABLE, AND EFFICIENT FINANCIAL SERVICES
8.2.2 BFSI: APPLICATION MODERNIZATION SERVICE USE CASES
8.2.2. Core banking system modernization
8.2.2.2 Claims processing overhaul
8.2.2.3 Digital customer portals
8.2.2.4 Real-time risk management
8.2.2.5 Payment gateway integration
8.3 IT & ITES
8.3. NEED FOR AGILE SERVICE DELIVERY AND TECHNOLOGICAL INTEGRATION
8.3.2 IT & ITES: APPLICATION MODERNIZATION SERVICE USE CASES
8.3.2. ERP cloud migration
8.3.2.2 Unified IT management systems
8.3.2.3 Customer support systems modernization
8.3.2.4 Cloud-native software optimization
8.3.2.5 Hybrid cloud management systems
8.4 HEALTHCARE & LIFE SCIENCES
8.4. NEED FOR IMPROVED PATIENT CARE, DIGITAL HEALTH SOLUTIONS, AND EFFICIENT DATA MANAGEMENT
8.4.2 HEALTHCARE & LIFE SCIENCES: APPLICATION MODERNIZATION SERVICE USE CASES
8.4.2. EHR cloud migration
8.4.2.2 Pharmaceutical research modernization
8.4.2.3 Health insurance claims
8.4.2.4 Telemedicine platforms
8.4.2.5 Medical device connectivity
8.5 MANUFACTURING
8.5. DRIVE TOWARD SMART FACTORIES AND REAL-TIME SUPPLY CHAIN OPTIMIZATION
8.5.2 MANUFACTURING: APPLICATION MODERNIZATION SERVICE USE CASES
8.5.2. Smart factory implementations
8.5.2.2 Predictive maintenance solutions
8.5.2.3 Integrated supply chain management
8.5.2.4 Quality control enhancements
8.5.2.5 Collaborative robotics integration
8.6 TELECOM
8.6. RAPID GROWTH OF 5G NETWORKS AND DEMAND FOR ENHANCED SERVICE DELIVERY
8.6.2 TELECOM: APPLICATION MODERNIZATION SERVICE USE CASES
8.6.2. 5G network management modernization
8.6.2.2 Cloud-based CRM systems
8.6.2.3 Billing system integration
8.6.2.4 Network automation
8.6.2.5 Self-service Portal modernization
8.7 TRANSPORTATION & LOGISTICS
8.7. DEMAND FOR REAL-TIME VISIBILITY AND OPERATIONAL EFFICIENCY
8.7.2 TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICE USE CASES
8.7.2. Cloud-based fleet management systems
8.7.2.2 Integrated warehouse management
8.7.2.3 Enhanced shipping portals
8.7.2.4 Visibility and responsiveness improvements
8.7.2.5 Predictive analytics for demand forecasting
8.8 MEDIA & ENTERTAINMENT
8.8. NEED FOR INNOVATIVE CONTENT DELIVERY AND PERSONALIZED VIEWER EXPERIENCES
8.8.2 MEDIA & ENTERTAINMENT: APPLICATION MODERNIZATION SERVICE USE CASES
8.8.2. Cloud-based Content Delivery Networks
8.8.2.2 Personalized User Experiences
8.8.2.3 Digital Asset Management Systems
8.8.2.4 Enhanced Audience Analytics
8.8.2.5 Integrated Marketing Solutions
8.9 RETAIL & ECOMMERCE
8.9. ADOPTION OF PERSONALIZED CUSTOMER EXPERIENCES AND STREAMLINED OPERATIONS
8.9.2 RETAIL & ECOMMERCE: APPLICATION MODERNIZATION SERVICE USE CASES
8.9.2. Cloud-based inventory management
8.9.2.2 Customer loyalty program modernization
8.9.2.3 POS and eCommerce integration
8.9.2.4 Demand forecasting modernization
8.9.2.5 Scalable eCommerce platforms
8.10 GOVERNMENT
8.10. NEED FOR ENHANCED CITIZEN ENGAGEMENT AND EFFICIENT SERVICE DELIVERY
8.10.2 GOVERNMENT: APPLICATION MODERNIZATION SERVICE USE CASES
8.10.2. Citizen services cloud migration
8.10.2.2 Document management system overhaul
8.10.2.3 Inter-agency communication integration
8.10.2.4 User-friendly public service apps
8.10.2.5 Disaster recovery planning
8.1 OTHER VERTICALS
8.11. OTHER VERTICALS: APPLICATION MODERNIZATION SERVICE USE CASES
8.11.1. Cloud-based booking systems
8.11.1.2 Personalized travel recommendations
8.11.1.3 Cloud-based student information systems
8.11.1.4 Interactive virtual classrooms
8.11.1.5 Adaptive learning platforms
9 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION
9. INTRODUCTION
9.2 NORTH AMERICA
9.2. NORTH AMERICA: MACROECONOMIC OUTLOOK
9.2.2 US
9.2.2. Rise in prevalence of AI advancements, automation, and next-gen network technologies
9.2.3 CANADA
9.2.3. Government-backed digital initiatives and cloud adoption to fuel modernization across public and private sectors
9.3 EUROPE
9.3. EUROPE: MACROECONOMIC OUTLOOK
9.3.2 UK
9.3.2. Stringent regulations support adoption of application modernization services in UK
9.3.3 GERMANY
9.3.3. Strong focus on Industry 4.0 and smart manufacturing and need for advanced networking solutions
9.3.4 FRANCE
9.3.4. Increased demand for digital services and automation to boost modernization across sectors
9.3.5 ITALY
9.3.5. Transformation of legacy infrastructure, particularly in finance and telecom
9.3.6 SPAIN
9.3.6. Fast-paced digital transformation environment to push modernization across verticals such as retail and government
9.3.7 NORDICS
9.3.7. Strong cloud-native adoption and focus on digital-first strategies to lead modernization efforts
9.3.8 REST OF EUROPE
9.4 ASIA PACIFIC
9.4. ASIA PACIFIC: MACROECONOMIC OUTLOOK
9.4.2 CHINA
9.4.2. Significant investments by key players and need for rapid development and adoption of new technologies
9.4.3 JAPAN
9.4.3. Increase in adoption of advanced technologies and integration with AI and automation
9.4.4 INDIA
9.4.4. Growing focus on cloud and network connectivity powered by AI technology
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.5. Stricter data protection regulations to influence development of secure solutions
9.4.6 SOUTH KOREA
9.4.6. Heavy investments by businesses and governments toward digital transformation
9.4.7 SOUTHEAST ASIA
9.4.7. Adoption of cloud-native solutions to act as primary driver of modernization across industries
9.4.8 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5. MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK
9.5.1. MIDDLE EAST
9.5.1.2 UAE
9.5.1.2. Economic Vision 2030’s focus on digital transformation to key driver for modernization in public and private sectors
9.5.1.3 KSA
9.5.1.3. Saudi’s need for digital transformation driven by Vision 2030 agenda
9.5.1.4 Kuwait
9.5.1.4. Modernization and digital infrastructure improvements to boost application modernization services market growth
9.5.1.5 Bahrain
9.5.1.5. Need for cloud-first policies and government-driven digitalization
9.5.1.6 Rest of the Middle East
9.5.2 AFRICA
9.5.2. Growing need for digital infrastructure and modernized telecom and financial systems
9.6 LATIN AMERICA
9.6. LATIN AMERICA: MACROECONOMIC OUTLOOK
9.6.2 BRAZIL
9.6.2. Ongoing investments in telecom infrastructure and modernization projects
9.6.3 MEXICO
9.6.3. Shift toward cloud modernization in public and financial sectors
9.6.4 REST OF LATIN AMERICA
10 COMPETITIVE LANDSCAPE
10. INTRODUCTION
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
10.3 REVENUE ANALYSIS
10.4 MARKET SHARE ANALYSIS
10.4. MARKET RANKING ANALYSIS
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
10.5. STARS
10.5.2 EMERGING LEADERS
10.5.3 PERVASIVE PLAYERS
10.5.4 PARTICIPANTS
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
10.5.5. Company footprint
10.5.5.2 Service type footprint
10.5.5.3 Application type footprint
10.5.5.4 Vertical footprint
10.5.5.5 Regional footprint
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
10.6. PROGRESSIVE COMPANIES
10.6.2 RESPONSIVE COMPANIES
10.6.3 DYNAMIC COMPANIES
10.6.4 STARTING BLOCKS
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
10.6.5. Key startups/SMEs
10.6.5.2 Competitive benchmarking of key startups/SMEs
10.7 COMPANY VALUATION AND FINANCIAL METRICS
10.8 BRAND/PRODUCT COMPARISON
10.9 COMPETITIVE SCENARIO AND TRENDS
10.9. PRODUCT LAUNCHES
10.9.2 DEALS
1 COMPANY PROFILES
11. KEY PLAYERS
11.1. IBM
11.1.1. Business overview
11.1.1.2 Products/Solutions/Services offered
11.1.1.3 Recent developments
11.1.1.3. Product launches
11.1.1.3.2 Deals
11.1.1.4 MnM view
11.1.1.4. Key strengths
11.1.1.4.2 Strategic choices made
11.1.1.4.3 Weaknesses and competitive threats
11.1.2 HCL TECHNOLOGIES
11.1.2. Business overview
11.1.2.2 Products/Solutions/Services offered
11.1.2.3 Recent developments
11.1.2.3. Product launches
11.1.2.3.2 Deals
11.1.2.4 MnM view
11.1.2.4. Key strengths
11.1.2.4.2 Strategic choices made
11.1.2.4.3 Weaknesses and competitive threats
11.1.3 ATOS
11.1.3. Business overview
11.1.3.2 Platforms/Solutions/Services offered
11.1.3.3 Recent developments
11.1.3.3. Product launches
11.1.3.3.2 Deals
11.1.3.4 MnM view
11.1.3.4. Key strengths
11.1.3.4.2 Strategic choices made
11.1.3.4.3 Weaknesses and competitive threats
11.1.4 CAPGEMINI
11.1.4. Business overview
11.1.4.2 Platforms/Solutions/Services offered
11.1.4.3 Recent developments
11.1.4.3. Product launches
11.1.4.3.2 Deals
11.1.4.4 MnM view
11.1.4.4. Key strengths
11.1.4.4.2 Strategic choices made
11.1.4.4.3 Weaknesses and competitive threats
11.1.5 ACCENTURE
11.1.5. Business overview
11.1.5.2 Platforms/Solutions/Services offered
11.1.5.3 Recent developments
11.1.5.3. Product launches
11.1.5.3.2 Deals
11.1.5.4 MnM view
11.1.5.4. Key strengths
11.1.5.4.2 Strategic choices made
11.1.5.4.3 Weaknesses and competitive threats
11.1.6 MICROSOFT
11.1.6. Business overview
11.1.6.2 Products/Solutions/Services offered
11.1.6.3 Recent developments
11.1.6.3. Product launches
11.1.6.3.2 Deals
11.1.6.4 MnM view
11.1.6.4. Key strengths
11.1.6.4.2 Strategic choices made
11.1.6.4.3 Weaknesses and competitive threats
11.1.7 ORACLE
11.1.7. Business overview
11.1.7.2 Products/Solutions/Services offered
11.1.7.3 Recent developments
11.1.7.3. Product launches
11.1.7.3.2 Deals
11.1.7.4 MnM view
11.1.7.4. Key strengths
11.1.7.4.2 Strategic choices made
11.1.7.4.3 Weaknesses and competitive threats
11.1.8 COGNIZANT
11.1.8. Business overview
11.1.8.2 Platforms/Solutions/Services offered
11.1.8.3 Recent developments
11.1.8.3. Product launches
11.1.8.3.2 Deals
11.1.9 TCS
11.1.9. Business overview
11.1.9.2 Platforms/Solutions/Services offered
11.1.9.3 Recent developments
11.1.9.3. Product launches
11.1.9.3.2 Deals
11.1.10 INNOVA SOLUTIONS
11.1.1 EPAM SYSTEMS
11.1.12 ASPIRE SYSTEMS
11.1.13 NTT DATA
11.1.14 DELL TECHNOLOGIES
11.1.15 DXC TECHNOLOGY
11.1.16 LTIMINDTREE
11.1.17 INFOSYS
11.1.18 WIPRO
11.1.19 ROCKET SOFTWARE, INC.
11.1.20 FUJITSU
11.1.2 HEXAWARE TECHNOLOGIES
11.1.22 VIRTUSA
11.1.23 MONGODB
11.2 STARTUPS/SMES
11.2. SOFTURA
11.2.2 CLOUDHEDGE TECHNOLOGIES PVT. LTD.
11.2.3 D3V TECHNOLOGY
11.2.4 BAYSHORE INTELLIGENCE SOLUTIONS
11.2.5 OPINOV8
11.2.6 ICREON
11.2.7 SYMPHONY SOLUTIONS
11.2.8 CLEVEROAD
11.2.9 TECHAHEAD
11.2.10 GEOMOTIV
11.2.1 SOFT SUAVE
12 ADJACENT/RELATED MARKETS
12. INTRODUCTION
12.1. RELATED MARKETS
12.2 CLOUD PROFESSIONAL SERVICES MARKET
12.2. MARKET DEFINITION
12.3 SYSTEM INTEGRATION SERVICES MARKET
12.3. MARKET DEFINITION
13 APPENDIX
13. DISCUSSION GUIDE
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 CUSTOMIZATION OPTIONS
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
1. STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3. MARKET SEGMENTATION
1.3.2 INCLUSIONS & EXCLUSIONS
1.4 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2. RESEARCH DATA
2.1. SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2. Primary interviews with experts
2.1.2.2 Breakdown of primary profiles
2.1.2.3 Key insights from industry experts
2.2 MARKET SIZE ESTIMATION
2.2. TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
2.3 DATA TRIANGULATION
2.4 LIMITATIONS AND RISK ASSESSMENT
2.5 RESEARCH ASSUMPTIONS
2.6 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4. OPPORTUNITIES FOR KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET
4.2 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE
4.3 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE
4.4 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL
4.5 NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET: TOP THREE SERVICE TYPES AND VERTICALS
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5. INTRODUCTION
5.2 MARKET DYNAMICS
5.2. DRIVERS
5.2.1. Rise in digital transformation initiatives
5.2.1.2 Demand for flexibility and scalability through cloud computing
5.2.1.3 Rapid technological advancements
5.2.1.4 Shift toward modernization by cloud-native technologies
5.2.1.5 Stringent regulatory compliance and security
5.2.2 RESTRAINTS
5.2.2. High costs and complexity
5.2.2.2 Legacy system dependencies
5.2.3 OPPORTUNITIES
5.2.3. Proliferation of Kubernetes and containerization
5.2.3.2 Evolution of open standards for software development
5.2.3.3 Emerging markets and SMEs
5.2.3.4 Existence of large number of legacy applications
5.2.4 CHALLENGES
5.2.4. Vendor lock-in and platform dependencies
5.2.4.2 Managing technical debt
5.3 BRIEF HISTORY OF APPLICATION MODERNIZATION SERVICES
5.4 ECOSYSTEM ANALYSIS
5.5 CASE STUDY ANALYSIS
5.5. MODERNIZATION OF ATRUVIA AG’S BANKING APPLICATION
5.5.2 LEGACY SYSTEMS’ MODERNIZATION FOR BIOPHARMA BY HCL ON AWS
5.5.3 APPLICATION MODERNIZATION FOR LEADING MEDICAL LABORATORY RESULTING IN BETTER ROI
5.5.4 UNIPER ENERGY’S UK TRADING SOLUTIONS MODERNIZED BY INFOSYS
5.6 SUPPLY CHAIN ANALYSIS
5.7 REGULATORY LANDSCAPE
5.7. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2 REGULATIONS
5.7.2. North America
5.7.2.1. US
5.7.2.1.2 Canada
5.7.2.2 Europe
5.7.2.2. UK
5.7.2.2.2 Germany
5.7.2.3 Asia Pacific
5.7.2.3. South Korea
5.7.2.3.2 China
5.7.2.3.3 Japan
5.7.2.3.4 India
5.7.2.4 Middle East & Africa
5.7.2.4. UAE
5.7.2.4.2 KSA
5.7.2.5 Latin America
5.7.2.5. Brazil
5.7.2.5.2 Mexico
5.8 PRICING ANALYSIS
5.8. AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SERVICE TYPE
5.8.2 INDICATIVE PRICING ANALYSIS, BY SERVICE FEATURE
5.9 PORTER’S FIVE FORCES ANALYSIS
5.9. THREAT OF NEW ENTRANTS
5.9.2 THREAT OF SUBSTITUTES
5.9.3 BARGAINING POWER OF BUYERS
5.9.4 BARGAINING POWER OF SUPPLIERS
5.9.5 INTENSITY OF COMPETITIVE RIVALRY
5.10 TECHNOLOGY ANALYSIS
5.10. KEY TECHNOLOGIES
5.10.1. Cloud platforms
5.10.1.2 Containerization
5.10.1.3 DevOps tools and CI/CD pipelines
5.10.1.4 Microservices architecture
5.10.1.5 API management platforms
5.10.1.6 Low-code/No-code platforms
5.10.2 ADJACENT TECHNOLOGIES
5.10.2. Edge computing
5.10.2.2 5G and Next-generation networks
5.10.2.3 Blockchain
5.10.2.4 Quantum computing
5.10.2.5 Augmented reality (AR) and virtual reality (VR)
5.10.3 COMPLEMENTARY TECHNOLOGIES
5.10.3. AI/ML integration
5.10.3.2 Robotic process automation (RPA)
5.10.3.3 Identity and access management (IAM)
5.10.3.4 Data lakes and data warehousing
5.10.3.5 Enterprise service bus (ESB)
5.1 PATENT ANALYSIS
5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA
5.13. KEY STAKEHOLDERS IN BUYING PROCESS
5.13.2 BUYING CRITERIA
5.14 KEY CONFERENCES AND EVENTS, 2024–2025
5.15 TECHNOLOGY ROADMAP FOR APPLICATION MODERNIZATION SERVICES MARKET
5.15. SHORT-TERM ROADMAP (2023–2025)
5.15.2 MID-TERM ROADMAP (2026–2028)
5.15.3 LONG-TERM ROADMAP (2029–2030)
5.16 BEST PRACTICES IN APPLICATION MODERNIZATION SERVICES MARKET
5.16. CONDUCT THOROUGH ASSESSMENT
5.16.2 DEFINE CLEAR GOALS AND OBJECTIVES
5.16.3 DEVELOP MODERNIZATION ROADMAP
5.16.4 CHOOSE RIGHT MODERNIZATION APPROACH
5.16.5 PRIORITIZE APPLICATIONS FOR MODERNIZATION
5.16.6 OPTIMIZE FOR CLOUD
5.16.7 ENSURE CONTINUOUS MONITORING AND OPTIMIZATION
5.16.8 ENGAGE STAKEHOLDERS THROUGHOUT PROCESS
5.17 CURRENT AND EMERGING BUSINESS MODELS
5.17. PLATFORM-AS-A-SERVICE (PAAS)
5.17.2 CONSULTATIVE SERVICES MODEL
5.17.3 OUTCOME-BASED MODELS
5.17.4 OPEN-SOURCE MODEL
5.17.5 CO-DEVELOPMENT MODEL
5.17.6 AUTOMATED MODELS
5.18 APPLICATION MODERNIZATION SERVICE TOOLS, FRAMEWORKS, AND TECHNIQUES
5.19 INVESTMENT AND FUNDING SCENARIO
5.20 IMPACT OF ARTIFICIAL INTELLIGENCE (AI)/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES
5.20. IMPACT OF AI/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES
5.20.2 USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES
5.2 7 ‘R’S OF APPLICATION MODERNIZATION
5.21. REHOST
5.21.2 RE-PLATFORM
5.21.3 REFACTOR
5.21.4 REVISE
5.21.5 REBUILD
5.21.6 REPLACE
5.21.7 RETIRE
6 APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE
6. INTRODUCTION
6.1. SERVICE TYPE: MARKET DRIVERS
6.1.2 APPLICATION PORTFOLIO ASSESSMENT
6.1.2. Need for strategic evaluation to streamline modernization paths to drive initial adoption of portfolio assessments
6.1.3 CLOUD APPLICATION MIGRATION
6.1.3. Rapid adoption of cloud infrastructure to support these services as businesses seek scalability and cost-efficiency
6.1.4 APPLICATION RE-PLATFORMING
6.1.4. Demand for performance optimization without complete rewrites
6.1.5 APPLICATION INTEGRATION
6.1.5. Increase in complexity of hybrid environments to drive need for seamless application integration across cloud and legacy systems
6.1.6 UI/UX MODERNIZATION
6.1.6. Growth in emphasis on user-centric digital experiences to sustain demand for UI/UX modernization
6.1.7 POST-MODERNIZATION SERVICES
6.1.7. Ongoing need for support in maintaining modernized applications to ensure steady, albeit slower, growth of post-modernization services
7 APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE
7. INTRODUCTION
7.1. APPLICATION TYPE: MARKET DRIVERS
7.1.2 LEGACY APPLICATIONS
7.1.2. Need to reduce operational costs of legacy applications and integrate with modern technologies; their dominance set to decline as businesses shift to cloud solutions
7.1.3 CLOUD-HOSTED APPLICATIONS
7.1.3. Growth in demand for scalable and cost-efficient IT infrastructure to fuel adoption of cloud-hosted application modernization
7.1.4 CLOUD-NATIVE APPLICATIONS
7.1.4. Push for innovation, scalability, and speed in digital transformation to drive rapid adoption of cloud-native applications
8 APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL
8. INTRODUCTION
8.1. VERTICAL: MARKET DRIVERS
8.2 BFSI
8.2. NEED FOR SECURE, SCALABLE, AND EFFICIENT FINANCIAL SERVICES
8.2.2 BFSI: APPLICATION MODERNIZATION SERVICE USE CASES
8.2.2. Core banking system modernization
8.2.2.2 Claims processing overhaul
8.2.2.3 Digital customer portals
8.2.2.4 Real-time risk management
8.2.2.5 Payment gateway integration
8.3 IT & ITES
8.3. NEED FOR AGILE SERVICE DELIVERY AND TECHNOLOGICAL INTEGRATION
8.3.2 IT & ITES: APPLICATION MODERNIZATION SERVICE USE CASES
8.3.2. ERP cloud migration
8.3.2.2 Unified IT management systems
8.3.2.3 Customer support systems modernization
8.3.2.4 Cloud-native software optimization
8.3.2.5 Hybrid cloud management systems
8.4 HEALTHCARE & LIFE SCIENCES
8.4. NEED FOR IMPROVED PATIENT CARE, DIGITAL HEALTH SOLUTIONS, AND EFFICIENT DATA MANAGEMENT
8.4.2 HEALTHCARE & LIFE SCIENCES: APPLICATION MODERNIZATION SERVICE USE CASES
8.4.2. EHR cloud migration
8.4.2.2 Pharmaceutical research modernization
8.4.2.3 Health insurance claims
8.4.2.4 Telemedicine platforms
8.4.2.5 Medical device connectivity
8.5 MANUFACTURING
8.5. DRIVE TOWARD SMART FACTORIES AND REAL-TIME SUPPLY CHAIN OPTIMIZATION
8.5.2 MANUFACTURING: APPLICATION MODERNIZATION SERVICE USE CASES
8.5.2. Smart factory implementations
8.5.2.2 Predictive maintenance solutions
8.5.2.3 Integrated supply chain management
8.5.2.4 Quality control enhancements
8.5.2.5 Collaborative robotics integration
8.6 TELECOM
8.6. RAPID GROWTH OF 5G NETWORKS AND DEMAND FOR ENHANCED SERVICE DELIVERY
8.6.2 TELECOM: APPLICATION MODERNIZATION SERVICE USE CASES
8.6.2. 5G network management modernization
8.6.2.2 Cloud-based CRM systems
8.6.2.3 Billing system integration
8.6.2.4 Network automation
8.6.2.5 Self-service Portal modernization
8.7 TRANSPORTATION & LOGISTICS
8.7. DEMAND FOR REAL-TIME VISIBILITY AND OPERATIONAL EFFICIENCY
8.7.2 TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICE USE CASES
8.7.2. Cloud-based fleet management systems
8.7.2.2 Integrated warehouse management
8.7.2.3 Enhanced shipping portals
8.7.2.4 Visibility and responsiveness improvements
8.7.2.5 Predictive analytics for demand forecasting
8.8 MEDIA & ENTERTAINMENT
8.8. NEED FOR INNOVATIVE CONTENT DELIVERY AND PERSONALIZED VIEWER EXPERIENCES
8.8.2 MEDIA & ENTERTAINMENT: APPLICATION MODERNIZATION SERVICE USE CASES
8.8.2. Cloud-based Content Delivery Networks
8.8.2.2 Personalized User Experiences
8.8.2.3 Digital Asset Management Systems
8.8.2.4 Enhanced Audience Analytics
8.8.2.5 Integrated Marketing Solutions
8.9 RETAIL & ECOMMERCE
8.9. ADOPTION OF PERSONALIZED CUSTOMER EXPERIENCES AND STREAMLINED OPERATIONS
8.9.2 RETAIL & ECOMMERCE: APPLICATION MODERNIZATION SERVICE USE CASES
8.9.2. Cloud-based inventory management
8.9.2.2 Customer loyalty program modernization
8.9.2.3 POS and eCommerce integration
8.9.2.4 Demand forecasting modernization
8.9.2.5 Scalable eCommerce platforms
8.10 GOVERNMENT
8.10. NEED FOR ENHANCED CITIZEN ENGAGEMENT AND EFFICIENT SERVICE DELIVERY
8.10.2 GOVERNMENT: APPLICATION MODERNIZATION SERVICE USE CASES
8.10.2. Citizen services cloud migration
8.10.2.2 Document management system overhaul
8.10.2.3 Inter-agency communication integration
8.10.2.4 User-friendly public service apps
8.10.2.5 Disaster recovery planning
8.1 OTHER VERTICALS
8.11. OTHER VERTICALS: APPLICATION MODERNIZATION SERVICE USE CASES
8.11.1. Cloud-based booking systems
8.11.1.2 Personalized travel recommendations
8.11.1.3 Cloud-based student information systems
8.11.1.4 Interactive virtual classrooms
8.11.1.5 Adaptive learning platforms
9 APPLICATION MODERNIZATION SERVICES MARKET, BY REGION
9. INTRODUCTION
9.2 NORTH AMERICA
9.2. NORTH AMERICA: MACROECONOMIC OUTLOOK
9.2.2 US
9.2.2. Rise in prevalence of AI advancements, automation, and next-gen network technologies
9.2.3 CANADA
9.2.3. Government-backed digital initiatives and cloud adoption to fuel modernization across public and private sectors
9.3 EUROPE
9.3. EUROPE: MACROECONOMIC OUTLOOK
9.3.2 UK
9.3.2. Stringent regulations support adoption of application modernization services in UK
9.3.3 GERMANY
9.3.3. Strong focus on Industry 4.0 and smart manufacturing and need for advanced networking solutions
9.3.4 FRANCE
9.3.4. Increased demand for digital services and automation to boost modernization across sectors
9.3.5 ITALY
9.3.5. Transformation of legacy infrastructure, particularly in finance and telecom
9.3.6 SPAIN
9.3.6. Fast-paced digital transformation environment to push modernization across verticals such as retail and government
9.3.7 NORDICS
9.3.7. Strong cloud-native adoption and focus on digital-first strategies to lead modernization efforts
9.3.8 REST OF EUROPE
9.4 ASIA PACIFIC
9.4. ASIA PACIFIC: MACROECONOMIC OUTLOOK
9.4.2 CHINA
9.4.2. Significant investments by key players and need for rapid development and adoption of new technologies
9.4.3 JAPAN
9.4.3. Increase in adoption of advanced technologies and integration with AI and automation
9.4.4 INDIA
9.4.4. Growing focus on cloud and network connectivity powered by AI technology
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.5. Stricter data protection regulations to influence development of secure solutions
9.4.6 SOUTH KOREA
9.4.6. Heavy investments by businesses and governments toward digital transformation
9.4.7 SOUTHEAST ASIA
9.4.7. Adoption of cloud-native solutions to act as primary driver of modernization across industries
9.4.8 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5. MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK
9.5.1. MIDDLE EAST
9.5.1.2 UAE
9.5.1.2. Economic Vision 2030’s focus on digital transformation to key driver for modernization in public and private sectors
9.5.1.3 KSA
9.5.1.3. Saudi’s need for digital transformation driven by Vision 2030 agenda
9.5.1.4 Kuwait
9.5.1.4. Modernization and digital infrastructure improvements to boost application modernization services market growth
9.5.1.5 Bahrain
9.5.1.5. Need for cloud-first policies and government-driven digitalization
9.5.1.6 Rest of the Middle East
9.5.2 AFRICA
9.5.2. Growing need for digital infrastructure and modernized telecom and financial systems
9.6 LATIN AMERICA
9.6. LATIN AMERICA: MACROECONOMIC OUTLOOK
9.6.2 BRAZIL
9.6.2. Ongoing investments in telecom infrastructure and modernization projects
9.6.3 MEXICO
9.6.3. Shift toward cloud modernization in public and financial sectors
9.6.4 REST OF LATIN AMERICA
10 COMPETITIVE LANDSCAPE
10. INTRODUCTION
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
10.3 REVENUE ANALYSIS
10.4 MARKET SHARE ANALYSIS
10.4. MARKET RANKING ANALYSIS
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
10.5. STARS
10.5.2 EMERGING LEADERS
10.5.3 PERVASIVE PLAYERS
10.5.4 PARTICIPANTS
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
10.5.5. Company footprint
10.5.5.2 Service type footprint
10.5.5.3 Application type footprint
10.5.5.4 Vertical footprint
10.5.5.5 Regional footprint
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
10.6. PROGRESSIVE COMPANIES
10.6.2 RESPONSIVE COMPANIES
10.6.3 DYNAMIC COMPANIES
10.6.4 STARTING BLOCKS
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
10.6.5. Key startups/SMEs
10.6.5.2 Competitive benchmarking of key startups/SMEs
10.7 COMPANY VALUATION AND FINANCIAL METRICS
10.8 BRAND/PRODUCT COMPARISON
10.9 COMPETITIVE SCENARIO AND TRENDS
10.9. PRODUCT LAUNCHES
10.9.2 DEALS
1 COMPANY PROFILES
11. KEY PLAYERS
11.1. IBM
11.1.1. Business overview
11.1.1.2 Products/Solutions/Services offered
11.1.1.3 Recent developments
11.1.1.3. Product launches
11.1.1.3.2 Deals
11.1.1.4 MnM view
11.1.1.4. Key strengths
11.1.1.4.2 Strategic choices made
11.1.1.4.3 Weaknesses and competitive threats
11.1.2 HCL TECHNOLOGIES
11.1.2. Business overview
11.1.2.2 Products/Solutions/Services offered
11.1.2.3 Recent developments
11.1.2.3. Product launches
11.1.2.3.2 Deals
11.1.2.4 MnM view
11.1.2.4. Key strengths
11.1.2.4.2 Strategic choices made
11.1.2.4.3 Weaknesses and competitive threats
11.1.3 ATOS
11.1.3. Business overview
11.1.3.2 Platforms/Solutions/Services offered
11.1.3.3 Recent developments
11.1.3.3. Product launches
11.1.3.3.2 Deals
11.1.3.4 MnM view
11.1.3.4. Key strengths
11.1.3.4.2 Strategic choices made
11.1.3.4.3 Weaknesses and competitive threats
11.1.4 CAPGEMINI
11.1.4. Business overview
11.1.4.2 Platforms/Solutions/Services offered
11.1.4.3 Recent developments
11.1.4.3. Product launches
11.1.4.3.2 Deals
11.1.4.4 MnM view
11.1.4.4. Key strengths
11.1.4.4.2 Strategic choices made
11.1.4.4.3 Weaknesses and competitive threats
11.1.5 ACCENTURE
11.1.5. Business overview
11.1.5.2 Platforms/Solutions/Services offered
11.1.5.3 Recent developments
11.1.5.3. Product launches
11.1.5.3.2 Deals
11.1.5.4 MnM view
11.1.5.4. Key strengths
11.1.5.4.2 Strategic choices made
11.1.5.4.3 Weaknesses and competitive threats
11.1.6 MICROSOFT
11.1.6. Business overview
11.1.6.2 Products/Solutions/Services offered
11.1.6.3 Recent developments
11.1.6.3. Product launches
11.1.6.3.2 Deals
11.1.6.4 MnM view
11.1.6.4. Key strengths
11.1.6.4.2 Strategic choices made
11.1.6.4.3 Weaknesses and competitive threats
11.1.7 ORACLE
11.1.7. Business overview
11.1.7.2 Products/Solutions/Services offered
11.1.7.3 Recent developments
11.1.7.3. Product launches
11.1.7.3.2 Deals
11.1.7.4 MnM view
11.1.7.4. Key strengths
11.1.7.4.2 Strategic choices made
11.1.7.4.3 Weaknesses and competitive threats
11.1.8 COGNIZANT
11.1.8. Business overview
11.1.8.2 Platforms/Solutions/Services offered
11.1.8.3 Recent developments
11.1.8.3. Product launches
11.1.8.3.2 Deals
11.1.9 TCS
11.1.9. Business overview
11.1.9.2 Platforms/Solutions/Services offered
11.1.9.3 Recent developments
11.1.9.3. Product launches
11.1.9.3.2 Deals
11.1.10 INNOVA SOLUTIONS
11.1.1 EPAM SYSTEMS
11.1.12 ASPIRE SYSTEMS
11.1.13 NTT DATA
11.1.14 DELL TECHNOLOGIES
11.1.15 DXC TECHNOLOGY
11.1.16 LTIMINDTREE
11.1.17 INFOSYS
11.1.18 WIPRO
11.1.19 ROCKET SOFTWARE, INC.
11.1.20 FUJITSU
11.1.2 HEXAWARE TECHNOLOGIES
11.1.22 VIRTUSA
11.1.23 MONGODB
11.2 STARTUPS/SMES
11.2. SOFTURA
11.2.2 CLOUDHEDGE TECHNOLOGIES PVT. LTD.
11.2.3 D3V TECHNOLOGY
11.2.4 BAYSHORE INTELLIGENCE SOLUTIONS
11.2.5 OPINOV8
11.2.6 ICREON
11.2.7 SYMPHONY SOLUTIONS
11.2.8 CLEVEROAD
11.2.9 TECHAHEAD
11.2.10 GEOMOTIV
11.2.1 SOFT SUAVE
12 ADJACENT/RELATED MARKETS
12. INTRODUCTION
12.1. RELATED MARKETS
12.2 CLOUD PROFESSIONAL SERVICES MARKET
12.2. MARKET DEFINITION
12.3 SYSTEM INTEGRATION SERVICES MARKET
12.3. MARKET DEFINITION
13 APPENDIX
13. DISCUSSION GUIDE
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 CUSTOMIZATION OPTIONS
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
