Growing Cloud Adoption Globally Driving Application Modernization Services Market

Global application modernization services market is anticipated to grow at a significant CAGR of 17.0% during the forecast period (2024-2031). The growing adoption of cloud computing across several end-user verticals has driven the demand for the application modernization services market. This is due to the complexity of migrating existing applications to the cloud, the need for cloud-native development, and the potential benefits of modernization. These services help companies adapt their existing applications to new paradigms, unlocking cloud benefits such as scalability, performance, agility, and integration with cloud services. Therefore, key players are actively focusing on the advancement of these services to meet the growing demand from consumers.  

Browse the full report description of “Application Modernization Services Market Size, Share & Trends Analysis Report by Type (Application Portfolio Assessment, Cloud Application Migration, Application Re-Platforming, and Others), by Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), by Size (Large Enterprise and SMEs), and by Industry Vertical Outlook (BFSI, Retail & E-Commerce, Manufacturing, IT & Telecommunication and Others) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/application-modernization-services-market

Market Strategy 

• In May 2023, Kyndryl launched a range of innovative services and features aimed at assisting Red Hat OpenShift customers in bolstering and broadening their capacity to seamlessly modernize and transition core business applications to hybrid cloud environments.

• In March 2024, Fujitsu Ltd. partnered with Amazon Web Services (AWS) to accelerate the modernization of legacy applications through deployment on the AWS Cloud. Fujitsu and AWS deliver evaluation, migration, and enhancement services for legacy mission-critical applications currently operating on on-premises mainframes and UNIX servers, facilitating their transition to the AWS Cloud.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Deployment

o By Size

o By Industry Vertical

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- IBM Corp., Accenture plc, Infosys Ltd., Cognizant, Capgemini, and DXC Technology, among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Application Modernization Services Market Report Segment

By Type

• Application Portfolio Assessment
• Cloud Application Migration
• Application Re-Platforming
• Others (Application Integration, UI Modernization, Post-Modernization)

By Deployment

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Size

• Large Enterprises
• SMEs

By Industry Vertical

• BFSI
• Retail & E-commerce
• Manufacturing
• IT & Telecommunication
• Others

Global Application Modernization Services Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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