Global Application Modernization Services
Market Report
2025
Application Modernization Services market size is USD 145892.0 million in 2024 and will expand at a compound annual growth rate (CAGR) of 14.89% from 2024 to 2031.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Application Modernization Services market size is USD 145892.0 million in 2024 and will expand at a compound annual growth rate (CAGR) of 14.89% from 2024 to 2031.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Application Modernization Services Market Sales Revenue | $ 145892 Million | 121212 | 121212 | 121212 | 14.89% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Service |
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Market Split by Deployment |
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Market Split by Organization |
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Market Split by Verticals |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Application Modernization Services Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The application modernization services (AMS) market addresses the evolving needs of businesses to update and enhance their existing software applications to meet contemporary technological standards. This market encompasses a range of services aimed at modernizing legacy applications, including re-platforming, re-hosting, re-architecting, and re-engineering. With the rapid pace of technological advancement, organizations face challenges in maintaining legacy systems, such as compatibility issues, security vulnerabilities, and limited scalability. AMS providers offer expertise in modern technologies like cloud computing, microservices architecture, containerization, and DevOps practices to revitalize legacy applications, improve agility, reduce costs, and enhance user experience. The demand for AMS is driven by the imperative for businesses to stay competitive, innovate faster, and adapt to changing market dynamics while leveraging their existing investments in software assets.
Digital Transformation Initiatives to Increase the Demand Globally - One key driver in the Application Modernization Services market is the proliferation of digital transformation initiatives across industries. In today's digital age, businesses are under pressure to innovate rapidly, deliver personalized user experiences, and leverage emerging technologies. Application modernization is a crucial component of digital transformation strategies. It enables organizations to modernize their IT infrastructure, streamline operations, accelerate time-to-market for new products and services, and enhance overall business agility and resilience. Legacy System Obsolescence- The increasing obsolescence of legacy systems is a significant driver for the Application Modernization Services market. Businesses relying on outdated software face challenges in maintaining compatibility, security, and efficiency.
Legacy System Complexity- The complexity of legacy systems, including intertwined dependencies, outdated technologies, and undocumented functionalities, often complicates the modernization process, leading to delays and increased costs. Resistance to Change- Organizational resistance to change, stemming from factors like cultural inertia, fear of disruption, and reluctance to invest in modernization efforts, can hinder the adoption of Application Modernization Services.
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In August 2021, Cognizant acquired TQS Integration, an Irish consulting firm specializing in digital transformation services, to improve its capabilities in the life sciences and manufacturing sectors.
(Source: https://www.cognizant.com/in/en)
Top Companies Market Share in Application Modernization Services Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue as it houses a large number of established enterprises with legacy systems in need of modernization. Further, the region boasts a robust ecosystem of technology vendors, consulting firms, and cloud service providers offering specialized modernization solutions. Additionally, North America benefits from the early adoption of emerging technologies and a strong culture of innovation, driving demand for modernization services. These factors collectively contribute to North America's leadership in the AMS market.
Asia-Pacific stands out as the fastest-growing region in the Application Modernization Services market due to the rising digital transformation initiatives among businesses, particularly in emerging economies like India and China, which are driving the demand for modernizing legacy applications to enhance agility and competitiveness. Additionally, the increasing adoption of cloud technologies and the proliferation of mobile devices are fueling the need for application modernization services. Moreover, favorable government policies and investments in IT infrastructure further stimulate market growth in the region.
The current report Scope analyzes Application Modernization Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Application Modernization Services Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Application Modernization Services Industry growth. Application Modernization Services market has been segmented with the help of its Service, Deployment Organization, and others. Application Modernization Services market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
We have designed the scope of Application Modernization Services market through our primary and secondary research methodology. The type segment/horizontal segment analysis of Application Modernization Services market provides detailed information of key leading segment revenue and share along with reasons behind its dominance across the global as well as region level. Additionally, we have also incorporated revenue and Y-O-Y growth of each segment with detailed qualitative analysis.
Application Modernization Services market types/products segment analysis enables clients to expand into new markets and diversify their customer base. Thus, this section helps to creates additional revene streams and strengthens their competitive position in the market. we also design customized scope as per clinet requirement. In case of any requirment kindly connect with our research team.
Service of Application Modernization Services analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Application Modernization Services Industry. Request a Free Sample PDF!
This industry is one of the most dynamic industries, mainly fuelled by advanced technological, changing customer needs, and regulatory environments. In this chapter, we have included Application Modernization Services market size, revenue share and growth rate for each application/end-user segment across the globe as well as regional level.
Moreover, we have also provides qualitative analysis such as driving and restraining factors which affects the Application Modernization Services market growth. This section helps companies to gain a deeper understanding of the market trends, challenges and technological advancements. Thus this analysis allows companies to build strategies and make informed decisions in a highly competitive and rapidly evolving market.
Some of the key Deployment of Application Modernization Services are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to Cognitive Market Research, BFSI is the dominating category. BFSI organizations often rely heavily on legacy systems to manage critical operations such as core banking, transaction processing, and risk management. These systems become outdated over time, necessitating modernization to improve efficiency, security, and compliance. Additionally, BFSI firms face intense competition and regulatory pressures, compelling them to adopt agile, innovative solutions to stay ahead. As a result, they invest significantly in AMS to enhance customer experiences, streamline operations, and leverage emerging technologies like AI and blockchain for competitive advantage.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modeling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product positioning and will assist you to understand opportunities and threats around the globe.
The Global Application Modernization Services Market is witnessing significant growth in the near future.
In 2023, the Application Portfolio Assessment segment accounted for noticeable share of global Application Modernization Services Market and is projected to experience significant growth in the near future.
The Public Cloud segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies HCL Technologies Ltd , Infosys Limited and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Service | Application Portfolio Assessment, Cloud Application Migration, Application Re-Platforming, Application Integration, UI Modernization, Post-Modernization |
Deployment | Public Cloud, Private Cloud |
Organization | Large Enterprises, SMEs |
Verticals | BFSI, Healthcare & Life Sciences, IT & Telecommunication, Retail & Consumer Goods, Government & Public Sector, Energy & Utilities, Manufacturing, Others |
List of Competitors | HCL Technologies Ltd, IBM Corporation, Infosys Limited, Micro Focus International plc, Mindtree Limited, Mphasis Ltd., NTT Data Corporation, Oracle Corporation, SAP SE, Tata Consultancy Services Limited, Tech Mahindra Ltd., Unisys Corporation, Virtusa Corporation, Wipro Limited, Zensar Technologies Ltd. |
This chapter will help you gain GLOBAL Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review Global Application Modernization Services Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review North America Application Modernization Services Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review Europe Application Modernization Services Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review Asia Pacific Application Modernization Services Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review South America Application Modernization Services Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review Middle East Application Modernization Services Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Application Modernization Services. Further deep in this chapter, you will be able to review Middle East Application Modernization Services Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Application Modernization Services. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Service Analysis 2019 -2031, will provide market size split by Service. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Service Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Deployment Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Organization Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Verticals Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Application Modernization Services market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Application Portfolio Assessment have a significant impact on Application Modernization Services market? |
What are the key factors affecting the Application Portfolio Assessment and Cloud Application Migration of Application Modernization Services Market? |
What is the CAGR/Growth Rate of Public Cloud during the forecast period? |
By type, which segment accounted for largest share of the global Application Modernization Services Market? |
Which region is expected to dominate the global Application Modernization Services Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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