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| A11545 | Pages: NA | Aug 2021 | 140 Views | | |
| Author(s) : Vineet Kumar | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Application Modernization Services Market
Request Now !Application modernization is the exercise of renovating old software to new by updating its latest computing approaches, which include new infrastructure platform, languages, and frameworks. This exercise of renovating is also known as legacy application modernization. In addition, software development is capable of renovating the old software, making improvements in its efficiency, safety, structural integrity, and others. However, by retiring an existing system or replacing it fully, application modernization lengthens the lifespan of an organization’s applications and takes advantage of technical innovations. Furthermore, various organizations adopt application modernization services to increase the efficiency and reliability of organizations, thereby driving the growth of the application modernization services market.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value (USD) |
Segments Covered | Component, Deployment Model, Enterprise Size, Application, End User, and Region |
Regions Covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
Companies Covered | Accenture, IBM Corporation, HCL Technologies Limited, Microsoft Corporation, Oracle Corporation, Cognizant Technology Solutions, Tata Consultancy Services, Fujitsu Limited, Capgemini SE, Infosys Limited |
COVID-19 Impact Analysis
Increase in adoption of advanced software among industries for better functionality in business application is expected to propel the growth of the application modernization services market. In addition, with the changing customer demands, companies are focusing to invest more on application modernization services to get competitive advantage over other rivalry companies, thereby propelling the growth of the market. However, lack of expertise in technology and complicated process of implementation hamper the growth of the market. Furthermore, technological advancement and cloud-based services are also expected to supplement the growth of the application modernization services market.
Cloud application migration service is the service of moving data, application, or other business functions to the cloud computing environment from a local or on-premises data center. The benefits of cloud computing are to provide a user-friendly environment with additional features such as security, performance, and cost. In addition, cloud application provides more flexibility and reliability to the organization, which drive the growth of the application modernization services market.
Small & medium enterprises look forward to adopting application modernization services to amplify their business operations and reduce total operational cost of the organization. This is expected to propel the growth of application modernization in the small & medium enterprises segment. The adoption of application modernization services has been increasing significantly in small & medium enterprises as it helps organizations to manage their capital spending and efficiently operate their business functions, which drive the growth of the market.
Key Segments Covered
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