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Application Transformation Market by Service (Cloud Application Migration, Application Replatforming, Application Integration), Organization Size, Vertical (Retail, IT & Telecom, Government, Healthcare, Manufacturing), and Region - Global Forecast to 2024

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Date: 05-Jun-2019
No. of pages: 114
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Global application transformation market size to grow at a CAGR of 11.6% during the forecast period

The global application transformation market size to grow from USD 9.7 billion in 2019 to USD 16.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.6% during 2019–2024.Major growth factors for the market include the need for a robust and agile environment to increase scalability and efficiency in the existing business landscape, high maintenance cost of existing legacy applications, and leveraging emerging technologies and increasing efficiencies of existing applications. These factors are expected to drive the global application transformation market. However, the complexity of legacy systems may limit market growth.

SMBs segment to grow at a higher CAGR during the forecast period

SMBs are defined as entities with the number of employees below 1,000. The SMBs segment is the faster-growing segment in the organization size. They generally face 3 critical challenges namely, capital, skills and scalability, and management control. To overcome these issues, SMBs adopt the lift-and-shift migration strategy, which enables their businesses to scale and grow faster. As per the Organization for Economic Co-operation and Development (OECD) data, 30%–60% of SMBs in OECD countries bring innovation in their ecosystem to grow faster. Instead of having less research and development (R&D) budget, SMBs are re-engineering their existing business process to meet the market demand.

Asia Pacific (APAC) to grow at the highest growth rate during the forecast period

APAC has the world’s fastest-growing economies, and technology penetration in the region is high. As per the 2016 Cloud Readiness Index released by the Asia Cloud Computing Association (ACCA), APAC would lead the next wave of global innovation and technology. The region is expected to experience the highest growth during the forecast period. The growth is expected to be driven by factors, such as increased spending on improving the infrastructure and the emergence of advanced and secure cloud-based solutions, tax reformation, smart cities initiatives, and the rise of the digital economy. The major countries that are expected to witness the high growth rates in the region include China, Japan, Singapore, Australia, New Zealand, and the rest of the ASEAN countries.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the application transformation market.

The following list provides the breakup of primary respondents’ profiles:


  • By Company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%

  • By Designation: C level Executives: 35%,Director Level: 25%, and Others: 40%

  • By Region: North America: 45%, Europe: 20%, APAC: 30%, and Rest of the World: 5%


Major vendors in the global application transformation market include Atos (France), Tech Mahindra (India), Fujitsu (Japan), HCL (India), Cognizant (US), Pivotal Software (US), Accenture (Ireland), IBM (US), TCS (India), Asysco (Netherlands), Unisys (US), Hexaware (India), Oracle (US), Micro Focus (UK), Bell Integrator (US), and Microsoft (US).

Research coverage:

The report includes an in-depth competitive analysis of the key players in the application transformation market, along with their company profiles, recent developments, and key market strategies. The report segments the global application transformation market by services, organization size, vertical, and region.

Key benefits of buying the report:

The report would provide the market leaders/new entrants in the application transformation market, information on the closest approximations of the revenue numbers for the overall application transformation market and sub segments. The report would also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

Application Transformation Market by Service (Cloud Application Migration, Application Replatforming, Application Integration), Organization Size, Vertical (Retail, IT & Telecom, Government, Healthcare, Manufacturing), and Region - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Competitive Leadership Mapping Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Application Transformation Market
4.2 Global Market Share of Top 2 Services and Regions
4.3 Market By Region
4.4 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Need for A Robust and Agile Environment to Increase Scalability and Efficiency in the Existing Business Landscape
5.2.1.2 High Maintenance Cost of Existing Legacy Applications
5.2.1.3 Leveraging Emerging Technologies and Increasing Efficiencies of Existing Applications
5.2.2 Restraints
5.2.2.1 Complexity of Legacy Systems
5.2.3 Opportunities
5.2.3.1 Modernization of Legacy Systems Offering Revenue Opportunities
5.2.3.2 Digital Transformation Driving Application Transformation
5.2.4 Challenges
5.2.4.1 Long Planning Process and Time Investment Required for Application Transformation
5.3 Use Cases
5.3.1 Fujitsu
5.3.2 Tech Mahindra
5.3.3 Atos
5.3.4 Micro Focus
5.3.5 HCL
5.3.6 Unisys

6 Application Transformation Market By Service
6.1 Introduction
6.2 Application Portfolio Assessment
6.2.1 Application Portfolio Assessment to Provide Important Information for Making Better Decision on Application Transformation Strategy
6.3 Cloud Application Migration
6.3.1 Increased Scalability and Business Agility, and Reduced Capital and Operating Costs to Drive the Growth for Cloud Application Migration Services
6.4 Application Replatforming
6.4.1 Application Replatforming to Grow at the Fastest Rate as Transforming of Applications Requires New Platforms
6.5 Application Integration
6.5.1 Application Integration Necessary for Organizations to Optimize Their It Landscapes and Gain Business Agility
6.6 UI Modernization
6.6.1 UI Modernization Service Gives A New and Better Experience to Legacy Applications
6.7 Post Modernization
6.7.1 24/7 Assistance and Relevant Skills to Address the Risk Application Replatforming to Drive the Growth of Post Modernization

7 Application Transformation Market By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Businesses
7.2.1 High Adoption of Lift-and-Shift Migration Strategy Leading to A Faster Growth Rate of the Small and Medium-Sized Businesses Segment
7.3 Large Enterprises
7.3.1 Large Enterprises Spending Significant Amounts to Migrate Their Legacy Applications to the Cloud

8 Application Transformation Market By Vertical
8.1 Introduction
8.2 Retail
8.2.1 Retailers to Adopt Innovative Technologies for Increasing Their Visibility and Presence in the Market
8.3 IT and Telecommunication
8.3.1 Need for Tailored Applications to Deliver A Hyper-Personalized Experience in IT and Telecom Vertical to Drive the Market Growth
8.4 Healthcare
8.4.1 Healthcare Vertical to Upgrade and Migrate Its Existing Applications to New Platforms and Technologies
8.5 Banking, Financial Services, and Insurance
8.5.1 BFSI Vertical to Accelerate Its Digital Transformation Strategy By Implementing New Technologies and Transforming Its Existing Applications
8.6 Government
8.6.1 Governments to Adopt New Technologies and Upgrade Their Legacy Applications By Migrating Them to New Environments and Open-Source Middleware Platforms
8.7 Manufacturing
8.7.1 Manufacturing Vertical to Migrate Its Existing Applications to New Open-Source Infrastructure for Getting Rid of Vendor Lock-Ins, Improving Agility, and Bringing Innovation in the Ecosystem
8.8 Others

9 Application Transformation Market By Region
9.1 Introduction
9.2 North America
9.2.1 Strong Government Vision and Huge It Spending in North America is Driving the Demand of Market
9.3 Europe
9.3.1 Strong Technical Expertise and Bigger It Budget is Driving the Market in Europe
9.4 Asia Pacific
9.4.1 APAC Growing Economies, and High Technology Penetration is Expected to Drive the Market
9.5 Middle East and Africa
9.5.1 MEA is Witnessing A High Technology Adoption and Strong Investments in the Ict Sector, Which is Expected to Drive the Application Transformation Market in Forecast Period
9.6 Latin America
9.6.1 Companies in the Region are Transforming Their Legacy Applications and is Expected to Drive the Market in the Forecast Period

10 Competitive Landscape
10.1 Overview
10.2 Competitive Leadership Mapping
10.2.1 Visionary Leaders
10.2.2 Dynamic Differentiators
10.2.3 Innovators
10.2.4 Emerging Companies
10.3 Ranking of Key Players
10.4 Competitive Scenario
10.4.1 New Product Launches and Product Enhancements
10.4.2 Partnerships, Collaborations, and Agreements
10.4.3 Mergers and Acquisitions

11 Company Profiles
11.1 Introduction
(Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
11.2 Atos
11.3 Tech Mahindra
11.4 Fujitsu
11.5 HCL
11.6 Cognizant
11.7 Pivotal Software
11.8 Accenture
11.9 IBM
11.10 TCS
11.11 Asysco
11.12 Unisys
11.13 Hexaware
11.14 Oracle
11.15 Micro Focus
11.16 Bell Integrator
11.17 Macrosoft

*Details on Business Overview, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details

List of Tables

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Application Transformation Market Size, By Service, 2017–2024 (USD Million)
Table 4 Application Portfolio Assessment: Market Size By Region, 2017–2024 (USD Million)
Table 5 Cloud Application Migration: Market Size By Region, 2017–2024 (USD Million)
Table 6 Application Replatforming: Market Size By Region, 2017–2024 (USD Million)
Table 7 Application Integration: Market Size By Region, 2017–2024 (USD Million)
Table 8 UI Modernization: Market Size By Region, 2017–2024 (USD Million)
Table 9 Post Modernization: Market Size By Region, 2017–2024 (USD Million)
Table 10 Application Transformation Market Size, By Organization Size, 2017–2024 (USD Million)
Table 11 Small and Medium-Sized Businesses: Market Size By Region, 2017–2024 (USD Million)
Table 12 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 13 Application Transformation Market Size, By Vertical, 2017–2024 (USD Million)
Table 14 Retail: Market Size By Region, 2017–2024 (USD Million)
Table 15 IT and Telecommunication: Market Size By Region, 2017–2024 (USD Million)
Table 16 Healthcare: Market Size By Region, 2017–2024 (USD Million)
Table 17 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 18 Government: Market Size By Region, 2017–2024 (USD Million)
Table 19 Manufacturing: Market Size By Region, 2017–2024 (USD Million)
Table 20 Others: Market Size By Region, 2017–2024 (USD Million)
Table 21 Market Size By Region, 2017–2024 (USD Million)
Table 22 North America: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 23 North America: Market Size By Service, 2017–2024 (USD Million)
Table 24 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 25 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 26 Europe: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 27 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 28 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 29 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 30 Asia Pacific: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 31 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 32 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 33 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 34 Middle East and Asia: Application Transformation Market Size, By Country, 2017–2024 (USD Million)
Table 35 Middle East and Asia: Market Size By Service, 2017–2024 (USD Million)
Table 36 Middle East and Asia: Market Size By Organization Size, 2017–2024 (USD Million)
Table 37 Middle East and Asia: Market Size By Vertical, 2017–2024 (USD Million)
Table 38 Latin America: Application Transformation Market Size, By Service, 2017–2024 (USD Million)
Table 39 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 40 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 41 Evaluation Criteria
Table 42 New Product Launches and Product Enhancements, 2017–2018
Table 43 Partnerships, Collaborations, and Agreements, 2017–2019
Table 44 Mergers and Acquisitions, 2016–2019

List of Figures

Figure 1 Application Transformation Market: Research Design
Figure 2 Market Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping Matrix: Criteria Weightage
Figure 4 Market Top 3 Segments, 2019
Figure 5 Large Enterprises Segment to Have A Higher Market Share in 2019
Figure 6 Aging Legacy Application Technologies and the Availability of Cost-Effective Cloud Technology to Drive the Market Growth
Figure 7 Application Integration and North America to Hold the Highest Market Shares in 2019
Figure 8 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 9 North America to Emerge as the Best Market for Investments Over the Next 5 Years
Figure 10 Drivers, Restraints, Opportunities, and Challenges: Application Transformation Market
Figure 11 Cloud Application Migration Segment to Grow at the Highest CAGR During the Forecast Period
Figure 12 Small and Medium-Sized Businesses Segment to Grow at A Higher CAGR During the Forecast Period
Figure 13 Retail Vertical to Hold the Highest Market Share During the Forecast Period
Figure 14 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 15 North America: Market Snapshot
Figure 16 Asia Pacific: Market Snapshot
Figure 17 Application Transformation Market (Global), Competitive Leadership Mapping, 2018
Figure 18 Ranking of Key Players in the Market 2018
Figure 19 Key Developments By the Leading Players in the Application Transformation Market During 2017–2019
Figure 20 Atos: Company Snapshot
Figure 21 Tech Mahindra: Company Snapshot
Figure 22 Fujitsu: Company Snapshot
Figure 23 HCL: Company Snapshot
Figure 24 Cognizant: Company Snapshot
Figure 25 Pivotal Software: Company Snapshot
Figure 26 Accenture: Company Snapshot
Figure 27 IBM: Company Snapshot
Figure 28 TCS: Company Snapshot

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