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

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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 Regional Insights

The regional trends and factors influencing the Application Modernization Tools Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Application Modernization Tools Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Application Modernization Tools Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Application Modernization Tools Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Application Modernization Tools Market are:

1. Advanced Computer Software Group Limited
2. Aspire Systems (India) Pvt. Ltd
3. Asysco Software BV
4. Atos SE
5. Blu Age

Disclaimer: The companies listed above are not ranked in any particular order.

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