The global Application Modernization Services Market size was valued at USD 17.19 billion in 2023 and is projected to reach from USD 19.24 Billion in 2024 to USD 60.87 Billion by 2032, growing at a CAGR of 15.48% during the forecast period (2024–2032).
Global Application Modernization Services Market Analysis, Size, Share, Growth, Trends, and Opportunities
Global Application Modernization Services Market Size
The global Application Modernization Services Market size was valued at USD 17.19 billion in 2023 and is projected to reach from USD 19.24 Billion in 2024 to USD 60.87 Billion by 2032, growing at a CAGR of 15.48% during the forecast period (2024–2032).
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Drivers in the Application Modernization Services Market
The increasing demand for cloud-based services, the need for businesses to stay competitive, and the growing requirement for efficient and agile IT infrastructure are driving the growth of the Application Modernization Services Market.
Key Developments in the Application Modernization Services Market
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Partnerships and Collaborations: Key players in the market are forming partnerships and collaborations to expand their offerings and improve their market presence.
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Investments in Emerging Technologies: Companies are investing in emerging technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT) to enhance their application modernization services.
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Growing Adoption of Cloud-Native Applications: The growing adoption of cloud-native applications is driving the demand for application modernization services.
Top Key Players
Some of the top key players in the Application Modernization Services Market include:
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Accenture
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Infosys
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IBM
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Innova Solutions
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LTI
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Atos
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HCL
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Microfocus
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Capgemini
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MongoDB
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Bell Integrator
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NTT Data
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Blu Age
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Oracle
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Cognizant
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Softura
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Aspire Systems
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TCS
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Dell
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Virtusa
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DXC Technology
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Wipro
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EPAM Systems
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Fujitsu
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Hexaware
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Segmentation Analysis of the Application Modernization Services Market
The Application Modernization Services Market can be segmented into several categories, including:
By Service
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Application Portfolio Assessment
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Cloud Application Migration
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Application Re-Platforming
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Application Integration
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UI Modernization
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Post Modernization
By Vertical
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BFSI
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Healthcare and Life Sciences
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Telecommunications
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Retail and Consumer Goods
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Government and Public Sector
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Energy and Utilities
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Manufacturing
By Cloud Deployment
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Public Cloud
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Private Cloud
By Organization Size
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Large enterprises
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Small and Medium Enterprises (SMEs)
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About Straits Research
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Phone: +1 646 905 0080 (US), +91 8087085354 (India), +44 203 695 0070 (UK)
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