Global Application Transformation Market, By Service (Portfolio Assessment, Cloud Migration, Replatforming, Integration, UI Modernization, Post Modernization), Organization Size (Small and Medium-Sized Businesses, Large Enterprises), Vertical (Retail, IT and Telecommunication, Healthcare, Banking, Financial Services, and Insurance, Government, Manufacturing) – Industry Trends and Forecast to 2030.
Application Transformation Market Analysis and Size
The market for application transformation is developing because enterprises are demanding to modify their business models and build business value in a lucrative manner in the era of digital transformation. Moreover, next-generation industrial solutions will be cloud-based solutions, and they will require a platform to show off their digital business capabilities. As a result, the demand for the application transformation increase which will enhance the market growth in this region.
Data Bridge Market Research analyses that the application transformation market is expected to reach USD 33.93 billion by 2030, which is USD 10.94 billion in 2022, at a CAGR of 15.20% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Application Transformation Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Service (Portfolio Assessment, Cloud Migration, Replatforming, Integration, UI Modernization, Post Modernization), Organization Size (Small and Medium-Sized Businesses, Large Enterprises), Vertical (Retail, IT and Telecommunication, Healthcare, Banking, Financial Services, and Insurance, Government, Manufacturing)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Accenture (Ireland), Atos S.E. (France), Bell Integrator, Capgemini (France), Cognizant (U.S.), Fujitsu (Japan), HCL Technologies Limited (India), IBM (U.S.), Infosys Limited (India), Microsoft (U.S.), Micro Focus (U.K.), Orcale (U.S.), Trianz (U.S.), Tech Mahindra Limited (India), Hexaware Technologies Limited (India), Tata Consultancy Services Limited (India)
Application transformation is the process of updating outdated applications to meet and fulfill current demands. Their main goal of this application transformation is to help IT department so that they can resolve problems related to mobile computing and social media within the enterprise. It extensively finds its application to stay flexible as the systems change, accelerate improvements and maintain a competitive edge.
Application Transformation Market
- Increasing concern regarding data privacy and security
Data security and privacy remain the major apprehension among organizations where use of data transmission, information and storage must be digitally protected. According to the survey, approximately 60 percent of the data or information on hard drives is stored in an unsecured manner. Thus, application transformation services vendors provide some important security services such as integration, authorization management, data encryption, access control, communication security. As a result of this, the demand for the application transformation increases which is expected to drive the market growth rate.
- Increasing demand for application transformation in healthcare sector
The healthcare sector is expected to witness the highest growth in the application transformation market over the forecast period due to the increasing adoption of digital technologies in this sector. Furthermore, blockchain electronic health records, artificial intelligence (AI)-enabled medical device, and telemedicine are some of the major technological innovations in which use of cloud deployments and enterprise applications is likely to increase the utilization of application transformation products and solutions. Therefore, increasing demand for application transformation in healthcare sector is expected to drive the market growth rate.
- Multiple benefits associated with application transformation
Application transformation aids in incorporating the efficiency of the organization through productivity enhancements and automation. The use of AI techniques and intelligent automation will improve the way development, testing, and maintaining of applications. Furthermore, the subscription-based or pay per use model offered by the service providers has delivered flexibility to various enterprises to grow with their optimum potential. Although, as a result of some factors such as integration with other legacy systems and security concerns will likely to maintain a high growth pace in upcoming years. These all are the major factors which will create immense opportunities for the growth of the market.
- Lack of awareness and concern associated with application transformation
Rise in the issue associated with long planning and processing time and legacy system are some of the manor factors which are expected to restrain the growth of the market and will further challenge the application transformation market during the above mentioned forecast period.
This application transformation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the application transformation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Application Transformation Market
An increasing number of businesses are shifting toward cloud-based platforms from traditional IT architecture throughout the world due to COVID-19 pandemic. Moreover, infrastructure reconfiguration is becoming necessary to match the organization's needs. As a result, there has been a surge in demand for older programs to be advanced so they can easily run on the cloud. The application transformation market is mainly driven by this factor. Furthermore, key players created revolutionary application transformation products throughout the pandemic to provide enhanced application transformation services. For instance, in 2021, TIBCO Software a leading provider of application integration services has announced TIBCO Responsive Application Mesh. It directs customers into streamlining their architecture.
- In 2020, International Business Machines Corporation and Infosys Ltd. announced to form a global alliance to support enterprises with the use of IBM cloud in their digital transformation journey. This collaboration will aid organization in regulated sector such as financial services, insurance and healthcare to transition, modernize and transform, their workloads and applications by using open innovation, security functions and enterprise capabilities of IBM cloud. Furthermore, Infosys will also provide access to Red Hat’s to its users. The offerings and partnerships provide enterprises a greater level of scale, resources and capabilities to accelerate their cloud-driven transformation.
Global Application Transformation Market Scope
The application transformation market is segmented on the basis of service, organization size and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Portfolio Assessment
- Cloud Migration
- UI Modernization
- Post Modernization
- Small and Medium-Sized Businesses
- Large Enterprises
- IT and Telecommunication
- Banking, Financial Services, and Insurance
Application Transformation Market Regional Analysis/Insights
The application transformation market is analyzed and market size insights and trends are provided by country, service, organization size and vertical as referenced above.
The countries covered in the application transformation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the application transformation market in terms of revenue and market owing to increase in the presence of various vendors and surge in the adoption of application transformation solutions in this region. Furthermore, increase in technological development and advancement in application transformation market will further boost the market growth in this region.
Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 owing to the presence of major companies in this region such as HCL Technologies Ltd. Infosys Ltd. and many other.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Application Transformation Market Share Analysis
The application transformation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to application transformation market.
Some of the major players operating in the application transformation market are:
- Accenture (Ireland)
- Atos S.E. (France)
- Bell Integrator
- Capgemini (France)
- Cognizant (U.S.)
- Fujitsu (Japan)
- HCL Technologies Limited (India)
- IBM (U.S.)
- Infosys Limited (India)
- Microsoft (U.S.)
- Micro Focus (U.K.)
- Orcale (U.S.)
- Trianz (U.S.)
- Tech Mahindra Limited (India)
- Hexaware Technologies Limited (India)
- Tata Consultancy Services Limited (India)