Application modernization is the refactoring, re-purposing or consolidation of legacy software programming to align it more closely with current business needs.
The goal of an application modernization project is to create new business value from existing applications. An application is a program designed to perform a specific function directly for the user or, in some cases, for another application program. Keeping legacy applications running smoothly can be a time-consuming, resource-intensive process, especially when the software becomes so outdated that it becomes incompatible with newer versions of the underlying operating system (OS) or system hardware.
Application Modernization Tools is mainly divided into three subdivisions: Emulation, Translation and Business rules extraction. And Emulation was the most widely used area which took up about 45.43% of the global total in 2017. However, in the further, Business rules extraction is growing fast and will occupy more share. By language, Application Modernization Services market can be divided into Cobol, ADA, PL/1, RPG, Assembler and PowerBuilder, Cobol is the largest subdivision with the market share of 63.32% in 2017.
Market Analysis and Insights: Global Application Modernization Services Market
The global Application Modernization Services market size is projected to reach US$ 43350 million by 2027, from US$ 16200 million in 2020, at a CAGR of 15.1% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Application Modernization Services market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Application Modernization Services market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Application Modernization Services market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Application Modernization Services market.
Global Application Modernization Services Scope and Market Size
Application Modernization Services market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Application Modernization Services market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.
Segment by Type
Segment by Application
- Business Rules Extraction
- North America
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- Bell Integrator
- Macrosoft Inc.
- Tech Mahindra
- Blu Age
- Modern Systems
- Trinity Millennium
- Micro Focus
- Software Mining
- Semantic Designs
- Fresche Solutions Inc.
- MOST Technologies
- Language Portability Solutions
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- Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
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Table of content
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Application Modernization Services Market Size Growth Rate by Type: 2016 VS 2021 VS 2027
1.3 Market by Application
1.3.1 Global Application Modernization Services Market Share by Application: 2016 VS 2021 VS 2027
1.3.4 Business Rules Extraction
1.4 Study Objectives
1.5 Years Considered
2 Global Growth Trends
2.1 Global Application Modernization Services Market Perspective (2016-2027)
2.2 Application Modernization Services Growth Trends by Regions
2.2.1 Application Modernization Services Market Size by Regions: 2016 VS 2021 VS 2027
2.2.2 Application Modernization Services Historic Market Share by Regions (2016-2021)
2.2.3 Application Modernization Services Forecasted Market Size by Regions (2022-2027)
2.3 Application Modernization Services Industry Dynamic
2.3.1 Application Modernization Services Market Trends
2.3.2 Application Modernization Services Market Drivers
2.3.3 Application Modernization Services Market Challenges
2.3.4 Application Modernization Services Market Restraints
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