IMARC Group, a leading market research company, has recently releases report titled “Application Transformation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global application transformation market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the application transformation market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 14.5 Billion |
| Market Forecast in 2028 | US$ 30.0 Billion |
| Growth rate (2023 to 2028) | CAGR of 13.1% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What are application transformation?
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.
What are the growth prospects and trends in the application transformation industry?
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.
Who are the key players operating in the industry?
The report covers the major market players including:
- 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
- Unisys Corporation.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Service Type:
- Cloud Application Migration
- Application Integration
- Application Replatforming
- Application Portfolio Assessment
- UI/UX Modernizations
- Others
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by End Use Industry:
- BFSI
- IT and Telecom
- Government
- Healthcare
- Retail
- Manufacturing
- Others
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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