Market Analysis: Global Application Transformation Market
Global application transformation market is expected to rise to an estimated value of USD 21.20 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. Increasing digital transformation and rising modernization in legacy system are the major factor for the growth of this market.
Market Definition: Global Application Transformation Market
Application transformation is a term which decreases the number of applications in the organization to moving application so that the application can get required governance and compliance. There main aim is to help the IT department so that they can solve the problems related to social media and mobile computing with in the enterprise. Some of the common services are cloud application migration, UI modernization, application portfolio assessment, post modernization among others. They are widely used in industries such as banking, manufacturing, healthcare, retail, IT and telecommunication.
- Low maintenance cost as compared to the other application will drive the market
- Rising requirement for an adaptable, operating cycle that provides efficiency of businesses will drive market
- Technological advancement and development in application transformation will propel the market
- Increasing modernization in legacy system will contribute as a factor for the growth of this market
- Difficulty associated with legacy system will hamper the market
- Long planning and processing time will also restraint the growth
Segmentation: Global Application Transformation Market
- Application Portfolio Assessment
- Cloud Application Migration
- Application Replatforming, Application Integration
- UI Modernization
- Post Modernization
By Organization Size
- Small and Medium-Sized Businesses
- Large Enterprises
- Retail, IT and Telecommunication
- Financial Services, and Insurance
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2019, HCL Technologies announced that they have acquired Strong-Bridge Envision so that they can 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 launched a new solution which has the ability to transform the legacy applications 50% faster. They have the ability to re- design; transform and re-generate and re-write the entire legacy applications. This new solution can handle most complex legacy applications and will helps the organizations adopt new technologies so that they can modernize legacy applications.
Competitive Analysis: Global Application Transformation Market
Global application transformation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of application transformation market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players: Global Application Transformation Market
Few of the major competitors currently working in the global application transformation market are Atos SE, Tech Mahindra Limited, FUJITSU, HCL Technologies Limited, Cognizant, Pivotal Software, Inc., Accenture, IBM Corporation, Tata Consultancy Services Limited, Unisys, Hexaware Technologies, Oracle, Micro Focus, Bell Integrator, Microsoft.
Research Methodology: Global Application Transformation Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved