DUBLIN--(BUSINESS WIRE)--The "Application Modernization Services Market by Service (Application Portfolio Assessment, Cloud Application Migration, Application Replatforming, Application Integration, UI Modernization), Organization Size, Vertical & Region- Global Forecast to 2022" report has been added to Research and Markets' offering.
The application modernization services market size is expected to grow from USD 6.87 Billion in 2017 to USD 16.67 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period.
The major driver for the upsurge in demand for the application modernization services market is the adoption of cloud computing in the application modernization strategy. The major restraining factor is the large investments made on legacy systems, which have delayed the application modernization plans.
The manufacturing vertical is expected to witness the highest growth rate during the forecast period, owing to the need of improving the operational process, reducing the cost, and rolling out products in a quick time frame, further eliminating the location barriers. In addition, there is high penetration of advance technologies, such as cloud computing, big data and analytics, mobility, and artificial intelligence, which are transforming the manufacturing vertical.
The large enterprises segment is expected to hold the largest market share during the forecast period, owing to the need to reduce the high Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). Large enterprises have dedicated in-house IT resources, and with large IT budgets, they can consider a variety of application modernization strategies. In addition, they have a global presence, high market share, technical expertise, and an effective business strategy.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview And Industry Trends
6 Application Modernization Services Market Analysis, By Service
7 Application Modernization Services Market Analysis,By Organization Size
8 Application Modernization Services Market Analysis, By Vertical
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- Bell Integrator
- Macrosoft Inc.
- Micro Focus
- Tech Mahindra
- UST Global
For more information about this report visit https://www.researchandmarkets.com/research/sdpgv7/application