The global application modernization tools market accounted at US$ 8.04 Bn in 2018 and is expected to grow at a CAGR of 18.7% during the forecast period 2019 – 2027, to account to US$ 36.86 Bn by 2027.
Application
Modernization Tools Market to 2027 - Global Analysis and Forecasts by
Product Type (COBOL, ADA, RPG, Assembler, PowerBuilder, and Others);
Application (Emulation, Translation, and Business Rules Extraction)
North America is
expected to hold the largest application modernization tools market share by
2027. The governments are maximizing their digital investments by strategically
leveraging new technologies, as well as data and advanced analytics, for
optimizing policies and programs, and updating their legacy systems. Improving
and aligning processes; attracting new investors; bringing smart, data-driven
approach in government operations; providing better access to and improving
management of information; enhancing citizen satisfaction and trust;
transforming government transaction services; and meeting the needs of rapidly
changing demographics and balancing cost while optimizing efficiency are all
playing major role in the ongoing IT transformation across the government,
public, and private sectors.
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Increasing digital transformation across the industries
is propelling the demand for application modernization tools market
End-to-end business process optimization, increased operational efficiency, improved customer experience, and reduced costs are few of the factors driving the application modernization tools market. The paradigm shift of enterprises from traditional channels to digital and automated channels results in multiple benefits ranging from improved efficiency to reduced cost and increased revenue opportunities, thus bolstering the growth of application modernization tools market
The high degree of integration with other solutions offer
a lucrative opportunity to the application modernization tools market
The players in application modernization tools market are integrating various solutions with the applications and front ended on tablets, mobile, and web. It is a cost-effective and quick way to provide new business processes across any applications. Services providers integrate solutions such as robotic process automation (RPA) which is an as-a-service automation platform. It enables to replicate the interaction of technology and human to automate a wide range of operations and support processes cost-effectively and increases the reliability.
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GLOBAL APPLICATION MODERNIZATION TOOLS – MARKET
SEGMENTATION
By Product Type:
· COBOL
· ADA
· RPG
· Assembler
· PowerBuilder
· Others
By Application:
· Emulation
· Translation
· Business Rules Extraction
Companies Profiled in
this report includes:
· Advanced Computer Software Group Limited
· Aspire Systems (India) Pvt. Ltd
· Asysco Software BV
· Atos SE
· Blu Age
· Deloitte Touche Tohmatsu Limited
· FreeSoft, Inc.
· Language Portability Solutions
· Micro Focus International plc
· Mphasis Limited
· Semantic Designs, Incorporated
· SoftwareMining Technologies
· The Software Revolution Inc. (TSRI)
· Virtusa Corporation
Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position is explained to help make a well informed decision. Competitive landscape of Application Modernization Tools market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.
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