Global Application Transformation Market Overview:
Application transformation is the process of modernizing dated applications to meet current demands, by bringing business-critical legacy applications to modern infrastructures and technology utilization. The process involves the establishment of an application portfolio and management program. With the help of application transformation services, the enterprises able to accelerate digital transformation initiatives, enhance the developer experience, and automate deployments that will further increase productivity. North America accounted for the major revenue share of over 27% in 2019 owing to the early adoption of application transformation solutions. High investments in research and developments in countries such as the United States and Canada make the application transformation market in North America highly competitive. Moreover, the increasing pressure for reducing IT costs and the large size of the outsourcing industry in the region are compelling companies to find alternative ways to control spending.
As per latest study released by AMA Research, the Global Application Transformation market is expected to see growth rate of 10.5%Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Use of Mobile Computing and Social Media in Enterprise and Use of Technologies Such As Cloud and Big Data, As Well As Principles of DevOps and Agile Development
Market Growth Drivers:
The rapid increase in digitalization among industries, the growing penetration of the internet and mobile devices across the world, and an increase in the consumption of big data are the primary factors fostering the market growth., Low Maintenance Cost As Compared To the Other Application, Technological Advancement and Development in Application Transformation Services and Increasing Modernization in Legacy System
Challenges:
Lack of Skilled Workforce and Intense Competition among Industry Players
Restraints:
Privacy and Data Security Concerns among Organizations and Difficulty Associated With the Legacy System
Opportunities:
Technological Advancements Such As Internet of Things (IoT), 5G, Edge Computing and Use of Real-Time Analytics Enabled By Machine Learning and Artificial Intelligence
Competitive Landscape:
Application transformation market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are IBM Corporation (United States), Microsoft Corporation (United States), Oracle Corporation (United States), Bell Integrator (United States), Cognizant (United States), Pivotal Software (United States), Salesforce.com, Inc. (United States), Unisys (United States), Accenture PLC (Ireland) and Atos SA (France). Additionally, following companies can also be profiled that are part of our coverage like Capgemini SE (France), CleverIS Technologies (Germany), Fujitsu Ltd. (Japan), HCL Technologies Ltd. (India), Infosys Limited (India) and Micro Focus International PLC (United Kingdom). Analyst at AMA Research see United States Players to retain maximum share of Global Application Transformation market by 2028. Considering Market by Services, the sub-segment i.e. Application Integration will boost the Application Transformation market. Considering Market by Enterprise Size, the sub-segment i.e. Large Enterprises will boost the Application Transformation market. Considering Market by Deployment, the sub-segment i.e. Public Cloud will boost the Application Transformation market.
Latest Market Insights:
In March 2020, Infosys Ltd. and IBM Corporation have announced to form a global alliance to aid enterprises in their digital transformation journey with the use of IBM cloud. The collaboration will help organizations in regulated sectors such as insurance, financial services, and healthcare to transition, transform, and modernize their workloads and applications by using open innovation, enterprise capabilities, and security functions of the IBM Cloud. and In March 2019, HCL Technologies has announced that they have acquired Strong-Bridge Envision to expand their digital consulting offerings by improving their digital strategy development, business transformation, and organizational change management. This acquisition will help the companies to provide better services to their customers with new technologies.
In June 2016, CleverIS Technologies has launched a new solution that has the ability to transform the legacy applications 50% faster. This new solution can handle most complex legacy applications and will help the organizations adopt new technologies so that they can modernize legacy applications.
What Can be Explored with the Application Transformation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Application Transformation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Application Transformation
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Application Transformation market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Application Transformation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Application Transformation Service Providers, Software Developers and Integrators, IT Professionals, Partners/Investors, End-Use Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.