Application Modernization Tools Market to Reach US$ 36.86 Bn at a CAGR of 18.7% in 2027

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.

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.

Market Insights

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

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Application Modernization Tools Market: Strategic Insights

Application Modernization Tools Market

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  CAGR (2018 - 2027)

  18.7%
• Market Size 2018
  US$ 8.04 Billion
• Market Size 2027
  US$ 36.86 Billion

Market Dynamics

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OPPORTUNITIES

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Key Players

• 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

Regional Overview

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

Market Segmentation

Product Type

• COBOL
• ADA
• RPG
• Assembler
• PowerBuilder

Application

• Emulation
• Translation
• Business Rules Extraction

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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.

Product Type Insights

The global application modernization tools market by product type was led by COBOL segment. The application modernization process is quite challenging with the traditional methods, but with the adoption of agile technologies, it became easy and more accurate. COBOL is a high-level programming language that generates fully web-based applications and reengineers project within the timeframe, along with executing standards and following specifications for a better look and feel, with the modernization in .NET and Java applications. Various platforms available in the market transform the existing codes into advanced languages.

Application Insights

The global application modernization tools market by application was led by emulation segment in 2018. Also, the segment is expected to hold the largest application modernization tools market share by 2027. Emulation is a process to rehost/re-platform the modernization approach used to provide an environment that compiles on distributed platforms by emulating the legacy operating environment. The emulation capability reduces the amount, and the changes occurred at the time when the legacy system migrates to a distributed platform. The emulation process offers the fastest technique to migrate workloads off a mainframe and a comparatively low-cost, low-risk way to decrease the operating costs as well as uphold the business value. These factors expected to upsurge the demand for emulation applications in application modernization tools market.

Application Modernization Tools Market Report Scope

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The market players present in application modernization tool market are mainly focusing on product enhancements by implementing advance technologies. Few of the recent developments are listed below:

• 2019 : Atos announced the enhancement of Atos Managed OpenShift (AMOS) platform, with the help of new integrated automation features from the SyntBots automation platform. This up-gradation is a result of the collaboration between Atos and Red Hat.
• 2018 : Micro Focus announced the general availability of Visual Enterprise Suite 4.0 and COBOL 4.0, marking a key step in implementing its digital transformation vision to facilitate customers to update core business processes as well as technology.
• 2017 : Blu Age announced its partnership with Advanced, for offering its game-changing solution - COBOL Migration and data modernization to Advanced. With this partnership, the company delivers its automated solution for transforming its legacy COBOL applications to Java and .NET.

Global Application Modernization Tools Market Segmentation

By Product Type

• COBOL
• ADA
• RPG
• Assembler
• PowerBuilder
• Others

By Application

• Emulation
• Translation
• Business Rules Extraction

By Geography

• North America

  • U.S.
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • UK
  • Russia
  • Italy
  • Rest of Europe

• Asia Pacific (APAC)

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

• Middle East & Africa (MEA)

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• 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