Application Transformation Market: Global Industry Analysis and Forecast (2022-2027) by Services, Enterprise Size, End-Use, and Region.

Application Transformation Market size was valued at US$ 12.08 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 11.6% from 2022 to 2027, reaching nearly US$ 23.34 Bn.

Application Transformation Market Overview:

Application Transformation Market is expected to reach US$ 23.34 Bn. by 2027. Application transformation is a broad word that refers to everything from lowering the amount of applications in an organisation to migrating apps to the cloud and ensuring that programmes comply with new compliance and governance requirements. This report focuses on the different segments of the Application Transformation market (Services, Enterprise Size, End-Use, and Region). The major industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It offers a comprehensive examination of today's rapid advancements in a variety of areas. The major data analysis for the historical era from 2017 to 2020 is presented using facts and numbers, visualisations, and presentations. The market drivers, restraints, opportunities, and challenges for Application Transformation are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Application Transformation market. Application Transformation Market To know about the Research Methodology:-Request Free Sample Report Impact of COVID-19 on the Application Transformation Market: A growing number of businesses throughout the world are migrating to cloud-based platforms from traditional IT architecture because of the COVID-19 pandemic. Furthermore, infrastructure reconfiguration to match the organization's needs is becoming increasingly necessary. As a result, there has been an increase in demand for older programs to be upgraded so that they can run on the cloud. The application transformation market is primarily driven by this factor. Furthermore, throughout the pandemic, market players created revolutionary application transformation products to offer improved application transformation services. For example, TIBCO Software, a leading provider of application integration services, announced TIBCO Responsive Application Mesh, a blueprint and capabilities for modern application design, in June 2020. It directs customers into modernizing their architecture.

Application Transformation Market Dynamics:

The major factors driving market growth include increased digitalization across industries, increased internet and mobile device adoption around the world, and increased big data consumption. Enterprises are increasingly demanding to alter their business models and create business value in a cost-effective manner in the age of digital transformation. Next-generation industrial solutions will be cloud-based, and they will need a platform to show off their digital business capabilities. Furthermore, new technologies such as the Internet of Things (IoT), 5G, edge computing, and real-time analytics enabled by machine learning and artificial intelligence are likely to push businesses to adopt these solutions. Application transformation advances due to technological advancements. The growing desire for faster business transformation across industry verticals has prompted important vendors to create and introduce novel products. Such advancements provide a wiser and speedier approach to organisational application transitions. Accenture, for example, developed myNav, a cloud platform in November 2019 to assist enterprises simulate and create alternative cloud solutions and discover the ones that are best suited to their business requirements. In addition, the platform advises its clients to use the application transformation approach to expedite their cloud innovation. In addition, IBM announced a comprehensive range of advanced artificial intelligence (AI)-powered services and capabilities in May 2020 to assist chief information officers (CIOs) with automating many elements of IT development, operations, and infrastructure. This release features an accelerator for AI-powered application modernization, as well as IBM Watson AIOps, which uses AI to safely run enterprise applications. Such innovations and advancements are driving the global application transformation market growth. Legacy modernisation is a rising trend. Legacy Modernization is the process of changing legacy systems in an organisation to lower IT costs and complexity, facilitate cross-platform collaboration, improve data consistency, and boost process flexibility. Traditional application models and systems in the organisation are not capable of meeting modern business expectations due to limited adaptability to change, slow delivery, and inefficient operations. As a result, the trend of legacy modernisation among organisations is on the rise, allowing businesses to align their aims with their business goals in order to serve consumers more efficiently, grow products and services, and improve customer experience. In addition, legacy modernization has advanced digital transformation activities, increased productivity through automated deployments, and improved developer experience. Because application transformation is a major contributor to legacy modernisation, the application transformation market is expected to grow.

Application Transformation Market Segment Analysis:

The Application Transformation Market is segmented by Services, Enterprise Size, and End-Use. Based on the Services, the market is segmented into Application Integration, Cloud Application Migration, Application Portfolio Assessment, Application Replatforming, UI Modernization, and Others. Application Integration segment is expected to hold the largest market share of xx% by 2027. The increased demand for merging outdated legacy programs and databases with new generation apps might be ascribed to the growth. Integration allows apps to link quickly and easily, allowing for seamless data sharing, process automation, and increased IT infrastructure flexibility. Furthermore, integration creates a single point of access to information, allowing staff to spend less time looking for information. Furthermore, application integration is expected to assist businesses in recognising and responding to impending opportunities as well as market developments from a single interface. Application Transformation Market Based on the Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Large Enterprises segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. Due to more flexibility, better collaboration, lower operational costs, and improved speed to market, large enterprises have been the primary users of the industry. Companies have traditionally used the cloud to develop apps and rehost infrastructure, but they are now leveraging it to update essential business applications and processes. Furthermore, the requirement to adopt both fundamental and niche technologies to increase agility, security, and performance is expected to accelerate market adoption during the forecast period among large enterprises. Small & Medium Enterprises segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. CSPs' flexible pricing strategies have resulted in more collaboration and innovation, as well as increased staff productivity. SMEs will benefit from application transformation in areas like as project management, marketing and promotion, financial management, and customer connection building, among others. Furthermore, these solutions are expected to assist businesses in cost management and optimization, putting up policies for using specific services, and determining which cloud service to use to run specific applications. Based on the End-Use, the market is segmented into Retail, BFSI, Healthcare, IT and Telecom, Retail, Government, Manufacturing, and Others. BFSI segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. This is due to the growing use of cloud services by financial institutions for internal processes. To stay competitive in the application transformation market, financial technology companies (fintechs) have begun disrupting the sector using bitcoin, blockchain, and other technologies. Online payments, digital wallets, payment gateways, and excellent customer service are also likely to play a big role in the banking business, encouraging the adoption of these technologies. Manufacturing industry segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. Manufacturing industry digital transformation has benefited businesses in reaching out to clients more effectively. Furthermore, the industry's application transformation will be critical in enabling and democratising new production systems like the Industrial Internet of Things (IIoT), 3D printing, and generative design. With the introduction of telemedicine and e-health facilities, these technologies will also assist the healthcare sector.

Application Transformation Market Regional Insights:

The North American region is expected to dominate the Application Transformation Market during the forecast period 2022-2027. The North American region is expected to hold the largest market share of xx% by 2027. North America is constituted of developed countries like the United States and Canada. These countries have made large investments in research and development, resulting in the development of innovative technology. Because countries like the United States and Canada are focused on R&D and innovation, the application transformation market in North America is very competitive. These countries are pioneers in a variety of technological fields. Retail, financial services, banking, and other areas such as transportation and manufacturing are largely dominated by the United States and Canada. Asia Pacific region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. Alibaba Cloud announced a digital transformation push in the region in 2018, including new products and a collaboration programme called the ASEAN Partner Alliance Program, which is expected to support the region grow. Furthermore, India has emerged as a major centre for IT services and solutions. Infosys Ltd. and HCL Technologies Ltd. are two prominent organisations in the country that provide application transformation services both inside and outside the country. Europe region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. This is due to the increasing demand for the application transformation in the various industries in the Europe region such as Retail, BFSI, Healthcare, IT and Telecom, Retail, Government, Manufacturing, and Others as application transformation offers plenty of benefits to these industries. Modernizing existing corporate applications is nearly always more cost-effective than investing in fresh new apps and technology when it comes to application transformation. Because of their consulting and integration experience, application transformation suppliers in the Europe region are likely in high demand. Enterprises are also searching for vendors with a diverse portfolio, including alternatives for application flexibility like containerization and in-house service capabilities. Furthermore, suppliers are likely to use product diversification and upgradation to acquire an advantage over other market competitors. The objective of the report is to present a comprehensive analysis of the Global Application Transformation Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Application Transformation Market dynamic and structure by analyzing the market segments and projecting the Global Application Transformation Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Application Transformation Market make the report investor’s guide.

Application Transformation Market Scope: Inquire before buying

Global Application Transformation Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 12.08 Bn
Forecast Period 2022 to 2027 CAGR: 11.6% Market Size in 2027: US $ 23.34 Bn
Segments Covered: by Services • Application Integration • Cloud Application Migration • Application Portfolio Assessment • Application Replatforming • UI Modernization • Others
by Enterprise Size • Large Enterprises • Small & Medium Enterprises
by End-use • Retail • BFSI • Healthcare • IT and Telecom • Retail • Government • Manufacturing • Others

Application Transformation Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Application Transformation Market Key Players

Atos • Tech Mahindra • Fujitsu • Cognizant • Pivotal Software • Accenture • CleverIS Technologies • Bell Integrator • Capgemini • Micro Focus International PLC • Infosys • Microsoft • Oracle • Asysco B.V. • Unisys Corp. • SAP • Adobe Systems • Dell Technologies • Pyramid Consulting, Inc. • Tata Consultancy Services Limited • Hexaware Technologies • HCL Technologies Limited • IBM Corporation Frequently Asked Questions: 1] Which region is expected to hold the highest share in the Application Transformation Market? Ans. North America is expected to hold the highest share in the Application Transformation Market. 2] Who are the top key players in the Application Transformation Market? Ans. Atos, Tech Mahindra, Fujitsu, Cognizant, Pivotal Software, and Accenture are the top key players in the Application Transformation Market. 3] Which segment is expected to hold the largest market share in the Application Transformation Market by 2027? Ans. Application Integration segment is expected to hold the largest market share in the Application Transformation Market by 2027. 4] What is the market size of the Application Transformation Market by 2027? Ans. The market size of the Application Transformation Market is expected to reach US $23.34 Bn. by 2027. 5] What was the market size of the Application Transformation Market in 2021? Ans. The market size of the Application Transformation Market was worth US $12.08 Bn. in 2021.
1. Global Application Transformation Market: Research Methodology 2. Global Application Transformation Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Application Transformation Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Application Transformation Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Application Transformation Market Segmentation 4.1 Global Application Transformation Market, by Services (2022-2027) • Application Integration • Cloud Application Migration • Application Portfolio Assessment • Application Replatforming • UI Modernization • Others 4.2 Global Application Transformation Market, by Enterprise Size (2022-2027) • Large Enterprises • Small & Medium Enterprises 4.3 Global Application Transformation Market, by End-use (2022-2027) • Retail • BFSI • Healthcare • IT and Telecom • Retail • Government • Manufacturing • Others 5. North America Application Transformation Market (2022-2027) 5.1 North America Application Transformation Market, by Services (2022-2027) • Application Integration • Cloud Application Migration • Application Portfolio Assessment • Application Replatforming • UI Modernization • Others 5.2 North America Application Transformation Market, by Enterprise Size (2022-2027) • Large Enterprises • Small & Medium Enterprises 5.3 North America Application Transformation Market, by End-use (2022-2027) • Retail • BFSI • Healthcare • IT and Telecom • Retail • Government • Manufacturing • Others 5.4 North America Application Transformation Market, by Country (2022-2027) • United States • Canada • Mexico 6. Europe Application Transformation Market (2022-2027) 6.1. Europe Application Transformation Market, by Services (2022-2027) 6.2. Europe Application Transformation Market, by Enterprise Size (2022-2027) 6.3. Europe Application Transformation Market, by End-use (2022-2027) 6.4. Europe Application Transformation Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Application Transformation Market (2022-2027) 7.1. Asia Pacific Application Transformation Market, by Services (2022-2027) 7.2. Asia Pacific Application Transformation Market, by Enterprise Size (2022-2027) 7.3. Asia Pacific Application Transformation Market, by End-use (2022-2027) 7.4. Asia Pacific Application Transformation Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. South America Application Transformation Market (2022-2027) 8.1. South America Application Transformation Market, by Services (2022-2027) 8.2. South America Application Transformation Market, by Enterprise Size (2022-2027) 8.3. South America Application Transformation Market, by End-use (2022-2027) 8.4. South America Application Transformation Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 9. Middle East and Africa Application Transformation Market (2022-2027) 9.1 Middle East and Africa Application Transformation Market, by Services (2022-2027) 9.2. Middle East and Africa Application Transformation Market, by Enterprise Size (2022-2027) 9.3. Middle East and Africa Application Transformation Market, by End-use (2022-2027) 9.4. Middle East and Africa Application Transformation Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 10. Company Profile: Key players 10.1 Atos 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Tech Mahindra 10.3 Fujitsu 10.4 Cognizant 10.5 Pivotal Software 10.6 Accenture 10.7 CleverIS Technologies 10.8 Bell Integrator 10.9 Capgemini 10.10 Micro Focus International PLC 10.11 Infosys 10.12 Microsoft 10.13 Oracle 10.14 Asysco B.V. 10.15 Unisys Corp. 10.16 SAP 10.17 Adobe Systems 10.18 Dell Technologies 10.19 Pyramid Consulting, Inc. 10.20 Tata Consultancy Services Limited 10.21 Hexaware Technologies 10.22 HCL Technologies Limited 10.23 IBM Corporation

About This Report

Report ID 92796
Category Information Technology & Telecommunication
Published Date April 2021
Updated Date May 2022
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