According to the latest report by IMARC Group, titled “Application Transformation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ The global application transformation market reached a value of US$ 12.65 Billion in 2021. Application transformation solution modernizes existing business-critical applications to meet the requirements of different organizations. It helps improve the overall operational reliability, automate delivery, and reduce infrastructure maintenance costs of businesses. It is also used for optimizing the applications to comply with government and compliance requirements. As a result, it finds application in banking, financial services and insurance (BFSI), manufacturing, healthcare, retail, information technology (IT) and telecommunication industries.
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The widespread implementation of cloud computing and big data technologies in small and medium and large-sized organizations represents one of the key factors propelling market growth. Moreover, organizations worldwide are using application transformation solutions for functioning in agile environments and mitigating the risks and problems associated with the existing systems. This, along with rapid advancements in brick-and-mortar retail stores, is positively influencing the market. Furthermore, major market players are integrating connected devices with the Internet of Things (IoT), 5G and edge computing solutions, which is projected to strengthen the market growth. 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.
- Accenture plc
- Atos SE
- Capgemini SE
- 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
- Unisys Corporation.
Key Market Segmentation:
Breakup by Service Type:
- Cloud Application Migration
- Application Integration
- Application Replatforming
- Application Portfolio Assessment
- UI/UX Modernizations
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by End Use Industry:
- IT and Telecom
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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