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The global application transformation market reached a value of US$ 12.65 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 26.71 Billion by 2027, exhibiting at a CAGR of 13.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Application transformation refers to the process of updating existing business-critical applications to meet the current requirements of the organizations. It involves assessing the software and application platforms and migrating to cloud and hybrid environments. Some of the commonly used application transformation solutions include cloud application migration, user interface (UI) modernization, application portfolio assessment and post-modernization services. These transformation solutions are also utilized for optimizing the applications to meet the government and compliance requirements. Application transformation can aid in enhancing the overall operational reliability, automating delivery and minimizing the cost of maintaining the infrastructure. As a result, it finds extensive applications across various industries, including banking, financial services and insurance (BFSI), manufacturing, healthcare, retail, information technology (IT) and telecommunication.
Significant growth in the IT industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the widespread adoption of cloud computing and big data technologies in small, medium and large-sized organizations is providing a thrust to the market growth. Organizations are extensively utilizing application transformation solutions for operating in agile environments and mitigating the risks and challenges associated with the existing systems. In line with this, the rapid modernization of brick-and-mortar retail stores is also contributing to the growth of the market. Retailers are increasingly utilizing digital and social media solutions to reach a wider consumer base and attract more customers. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), 5G and edge computing solutions, for real-time analytics, improved collaboration, data consistency and process flexibility is favoring the market growth. Other factors, including the increasing penetration of high-speed internet, along with the emerging trend of legacy modernization, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global application transformation market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service type, enterprise size and end use industry.
Breakup by Service Type:
Breakup by Enterprise Size:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, Atos SE, Capgemini SE, Cognizant, Fujitsu Limited, HCL Technologies Limited (HCL Enterprise), Infosys Limited, International Business Machines Corporation, Micro Focus International plc, Microsoft Corporation, Oracle Corporation, Tata Consultancy Services Limited and Unisys Corporation.
|Base Year of the Analysis||2021|
|Segment Coverage||Service Type, Enterprise Size, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Accenture plc, Atos SE, Capgemini SE, Cognizant, Fujitsu Limited, HCL Technologies Limited (HCL Enterprise), Infosys Limited, International Business Machines Corporation, Micro Focus International plc, Microsoft Corporation, Oracle Corporation, Tata Consultancy Services Limited and Unisys Corporation|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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