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アプリケーションモダナイゼーションサービス市場規模、シェア、動向、2031年までの世界予測

Application Modernization Services Market - Global Forecast To 2031

Application Modernization Services Market by Service Type (Cloud Application Migration, Application Re-Platforming, Post Modernization), Application Type (Legacy, Cloud-hosted, Cloud-native) - Global Forecast to 2031

商品番号 : SMB-29657

出版社MarketsandMarkets
出版年月2025年10月
ページ数340
図表数328
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

アプリケーションモダナイゼーションサービス市場 – サービスタイプ（クラウドアプリケーション移行、アプリケーション再プラットフォーム化、ポストモダナイゼーション）、アプリケーションタイプ（レガシー、クラウドホスト、クラウドネイティブ） – 2031年までの世界予測

アプリケーションモダナイゼーションサービス市場は、2025 年に 226.7 億米ドルに達すると推定され、年平均成長率 (CAGR) 14.6% で 2031 年までに 514.5 億米ドルに達すると予想されています。

アプリケーションモダナイゼーションサービス市場が成長を遂げている要因はいくつかあります。急速な技術進歩の時代において、企業は競争力を維持し、効率性を向上させるために、時代遅れのアプリケーションを更新する必要性を無視することはできません。多くの場合、ビジネスの範囲、カバレッジ、ネットワークが十分に拡大すると、既存のレガシーシステムは、規模、柔軟性、そして新技術との統合によって制約され、現在のビジネスニーズを満たすことが難しくなります。クラウド技術の利用増加も重要な推進力であり、多くの組織が運用の拡張性と費用対効果を理由にクラウドプロバイダーの活用を目指しています。こうしたデジタル進化の結果、企業はアプリケーションの変革を迫られています。これは、アプリケーションが人工知能、機械学習、モノのインターネットなどの先進技術とシームレスに統合することが不可欠だからです。

本市場調査は、様々なセグメントにおけるアプリケーションモダナイゼーションサービス市場の規模を網羅しています。サービスタイプ、アプリケーションタイプ、業種、地域など、様々なセグメントにわたる市場規模と成長の可能性を予測することを目的としています。サービスタイプには、アプリケーションポートフォリオ評価、クラウドアプリケーション移行、アプリケーション再プラットフォーム化、アプリケーション統合、UI/UXモダナイゼーション、ポストモダナイゼーションが含まれます。さらに、アプリケーションタイプには、レガシーアプリケーション、クラウドホスト型アプリケーション、クラウドネイティブアプリケーションが含まれます。業種には、BFSI、ヘルスケア・ライフサイエンス、通信、IT・ITeS、小売・eコマース、政府機関、エネルギー・公益事業、運輸・物流、メディア・エンターテインメント、製造業が含まれます。アプリケーションモダナイゼーションサービス市場の地域分析は、北米、ヨーロッパ、アジア太平洋、中東・アフリカ、ラテンアメリカを網羅しています。本調査には、主要市場プレーヤー、企業プロファイル、製品および事業提供に関する主要な観察事項、最近の動向、市場戦略に関する詳細な競合分析が含まれています。

本レポートは、市場リーダーおよび新規参入企業にとって、世界のアプリケーションモダナイゼーションサービス市場の収益数値とサブセグメントに関する近似値に関する情報を提供するのに役立ちます。また、ステークホルダーが競争環境を理解し、自社のポジショニングを改善し、適切な市場開拓戦略を策定するための貴重な洞察を得るのに役立ちます。さらに、本レポートは、市場の動向に関する洞察に加え、主要な市場牽引要因、制約要因、課題、そして機会に関する情報も提供します。

本レポートでは、以下の点について洞察を提供しています。

  • アプリケーションモダナイゼーションサービス市場の成長に影響を与える主要な推進要因（デジタルトランスフォーメーションの取り組みの増加、クラウドコンピューティングによる柔軟性と拡張性への需要、急速な技術進歩）、制約要因（高コストと複雑性、レガシーシステムへの依存）、機会（新興市場と中小企業、ソフトウェア開発におけるオープンスタンダードの進化）、課題（ベンダーロックインとプラットフォームへの依存、技術的負債の管理）の分析。
  • 製品開発／イノベーション：アプリケーションモダナイゼーションサービス市場における今後の技術、研究開発活動、製品・サービスの投入に関する詳細な洞察。
  • 市場開発：有望な市場に関する包括的な情報。本レポートでは、様々な地域におけるアプリケーションモダナイゼーションサービス市場を分析しています。
  • 市場の多様化：アプリケーションモダナイゼーションサービス市場における新製品・サービス、未開拓地域、最近の動向、投資に関する包括的な情報。
  • 競合評価：Oracle（米国）、IBM（米国）、Microsoft（米国）、AWS（米国）、HCL Technologies（インド）、Accenture（アイルランド）、ATOS SE（フランス）、Capgemini（フランス）、Cognizant（米国）、Tata Consultancy Services（インド）、Aspire Systems（インド）、NTTデータグループ（日本）、Infosys（インド）、Dell Technologies（米国）、Innova Solutions（米国）、EPAM Systems（米国）、DXC Technology（米国）、MongoDB（米国）、LTIMindtree（インド）、Wipro（インド）、Rocket Software（米国）、富士通（日本）、Hexaware Technologies（インド）、Virtusa（米国）、Softura（米国）、CloudHedge（米国）、D3V Technology（米国）、Bayshore Intelligence（米国）、Opinov8（英国）、Icreon（米国）、Symphony Solutions（オランダ）、Cleveroad（ウクライナ）、Soft Suaveなどの主要企業の市場シェア、成長戦略、サービス提供に関する詳細な評価。 (インド)、TechAhead (米国)、Geomotiv (米国)、PalmDigitalz (インド)、AveriSource (米国)、ScienceSoft (米国)、Simform (米国)、Utthunga (インド)、Rishabh Software (インド)、および Veritis (米国)。

Report Description

The Application modernization services market was estimated to be USD 22.67 billion in 2025 and is expected to reach USD 51.45 billion by 2031 at a compound annual growth rate (CAGR) of 14.6%.

There are a few factors owing to which the application modernization services market is experiencing growth. In the era of rapid technological advancements, a business cannot afford to overlook the need to update its outdated applications in order to stay competitive and improve its efficiency. Often, when a business has grown sufficiently in scope, coverage, and network, the legacy systems in place can hardly meet current business demands because they are constrained by scale, flexibility, and integration with new-age technologies. The increased use of cloud technology is another key driver, with many organizations aiming to utilize cloud providers due to the scalability and cost-effectiveness of their operations. As a result of this digital evolution, companies have been compelled to undergo application transformation, as it is essential that such applications integrate seamlessly with advanced technologies such as Artificial Intelligence, machine learning, and the Internet of Things.

アプリケーションモダナイゼーションサービス市場規模、シェア、動向、2031年までの世界予測
Application Modernization Services Market – Global Forecast To 2031

Moreover, with the increasing focus on securing data and compliance, organizations are also actively migrating their deployments to newer versions of applications developed to meet the changing needs of regulations aimed at addressing cybersecurity issues. Additionally, better performance of applications and improving user experience with such applications are other reasons for enhanced modernization trends, since every business strives to improve how its customers interact with the business digitally. The need to reduce operating costs while increasing agility and speed to market is also a major factor, as application modernization enables the rollout of new features and services in a shorter period. Overall, these are the reasons for the high demand for services related to application modernization, as organizations seek to redesign their technological frameworks in response to their strategic objectives and operational effectiveness.

アプリケーションモダナイゼーションサービス市場規模、シェア、動向、2031年までの世界予測 - by service type
Application Modernization Services Market – Global Forecast To 2031 – by service type

“The healthcare & life sciences vertical is expected to have the second-largest market size during the forecast period.”

The healthcare sector is expected to capture a significant share of the application modernization services market, second only to the telecom industry, during the forecast period. This growth is driven by the rising demand for advanced digital solutions. The sector is undergoing a major transformation fueled by the increasing adoption of electronic health records, telemedicine, and AI-driven diagnostics. To support these advancements, healthcare providers require more efficient IT systems that enhance operational efficiency, improve patient care, and ensure compliance with regulatory standards. Additionally, the growing demand for cloud-based solutions that offer both security and scalability, along with seamless integration of new technologies into existing systems, continues to accelerate growth in this space.

“The cloud-native applications segment will witness the highest growth rate during the forecast period.”

In the application modernization services, owing to their vast potential for growth in aspects such as scalability, flexibility, and efficiency over and above the others, cloud-native applications are projected to have a greater increase within the forecasted period. On the other hand, while legacy applications offer services as a single unit and often rely on underlying physical structures, such as servers and data centers, cloud-native applications are cloud-centric and are constructed using enhanced architectural designs, including those of microservices, containerized booting, and scheduling management systems. This allows players in the industry to adapt to changes in the business environment, increase resources when needed, and minimize unnecessary operational costs. Additionally, the increased use of cloud-based solutions and the maturation of cloud technologies are driving the need for cloud-native applications, as such solutions have overcome market challenges to deliver faster, better results, and an optimized user experience. The most important technological trend has also been the continuous and sustained drive towards digitalizing businesses’ processes for improved efficiency, which therefore means the development of able and responsive system solutions to the modern need for cloud based solutions will make transition to the more use of cloud-native applications faster hence this explains the expected higher growth rate of such applications in the application modernization services market.

アプリケーションモダナイゼーションサービス市場規模、シェア、動向、2031年までの世界予測 - 地域
Application Modernization Services Market – Global Forecast To 2031 – region

“Asia Pacific to register the highest growth rate during the forecast period.”

The application modernization services market in the forecast period is expected to grow at a higher pace in the Asia-Pacific region, driven by several underlying factors. One of the reasons is the digital transformation of the region, which has been facilitated by the growing adoption of cloud computing and other emerging technologies, as well as the pursuit of efficiency in business operations. There is an increase in IT spending and digital activities in countries like China and India, creating a need for services to modernize aging management systems and incorporate new technologies. The growth of the sector is also enhanced by the efforts of global technology providers and the influx of local enterprises, which are enhancing competition. The increasing affluence of the population, along with the trend towards a more technologically inclined population, is another major factor driving the need for sophisticated and high-capacity application modernization services within the region.

Breakdown of primaries

The study offers insights from a range of industry experts, including solution vendors and Tier 1 companies. The break-up of the primaries is as follows:

  • By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
  • By Designation: C-level –50%, D-level – 30%, and Others – 20%
  • By Region: North America – 38%, Europe – 15%, Asia Pacific – 35%, Middle East & Africa – 7%, and Latin America – 5%.

The major players in the Application modernization services market include Oracle (US), IBM (US), Microsoft (US), AWS (US), HCL Technologies (India), Accenture (Ireland), ATOS (France), Capgemini (France), Cognizant (US), TCS (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), EPAM Systems  (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US), Geomotiv (US), PalmDigitalz (India), AveriSource (US), ScienceSoft (US), Simform (US), Utthunga (India), Rishabh Software (India), and Veritis (US). These players have adopted various growth strategies, including partnerships, agreements, collaborations, product launches, enhancements, and acquisitions, to expand their footprint in the application modernization services market.

アプリケーションモダナイゼーションサービス市場規模、シェア、動向、2031年までの世界予測 - 対象企業
Application Modernization Services Market – Global Forecast To 2031 – ecosystem

Research Coverage

The market study covers the size of the application modernization services market across various segments. It aims to estimate the market size and growth potential across different segments, including service types, application types, verticals, and regions. The service type includes application portfolio assessment, cloud application migration, application re-platforming, application integration, UI/UX modernization, and post-modernization. Further, the application types include legacy applications, cloud-hosted applications, and cloud-native applications. The verticals include BFSI, healthcare & life sciences, telecom, IT & ITeS, retail & e-commerce, government, energy & utilities, transportation & logistics, media & entertainment, and manufacturing. The regional analysis of the Application modernization services market covers North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help market leaders/new entrants with information on the closest approximations of the global Application Modernization Services market’s revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain valuable insights to better position their businesses and plan suitable go-to-market strategies. Moreover, the report will provide stakeholders with insights into the market’s pulse, as well as information on key market drivers, restraints, challenges, and opportunities.

The report provides insights into the following pointers:

  • Analysis of key drivers (rising digital transformation initiatives, demand for flexibility and scalability through cloud computing, rapid technological advancements), restraints (high costs and complexity, legacy system dependencies), opportunities (emerging markets and SMEs, evolution of open standards for software development), and challenges (vendor lock-in and platform dependencies, managing technical debt) influencing the growth of the application modernization services market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product & service launches in the application modernization services market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses the application modernization services market across various regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the application modernization services market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players such as Oracle (US), IBM (US), Microsoft (US), AWS (US), HCL Technologies (India), Accenture (Ireland), ATOS SE (France), Capgemini (France), Cognizant (US), Tata Consultancy Services (India), Aspire Systems (India), NTT Data Group Corporation (Japan), Infosys (India), Dell Technologies (US), Innova Solutions (US), EPAM Systems (US), DXC Technology (US), MongoDB (US), LTIMindtree (India), Wipro (India), Rocket Software (US), Fujitsu (Japan), Hexaware Technologies (India), Virtusa (US), Softura (US), CloudHedge (US), D3V Technology (US), Bayshore Intelligence (US), Opinov8 (UK), Icreon (US), Symphony Solutions (Netherlands), Cleveroad (Ukraine), Soft Suave (India), TechAhead (US), Geomotiv (US), PalmDigitalz (India), AveriSource (US), ScienceSoft (US), Simform (US), Utthunga (India), Rishabh Software (India), and Veritis (US).

Table of Contents

1               INTRODUCTION              32

1.1           STUDY OBJECTIVES       32

1.2           MARKET DEFINITION   32

1.3           STUDY SCOPE   33

1.3.1        MARKET SEGMENTATION AND REGIONS COVERED                 33

1.3.2        INCLUSIONS & EXCLUSIONS       34

1.4           YEARS CONSIDERED      35

1.5           CURRENCY CONSIDERED            35

1.6           STAKEHOLDERS               36

1.7           SUMMARY OF CHANGES               36

2               RESEARCH METHODOLOGY       37

2.1           RESEARCH DATA              37

2.1.1        SECONDARY DATA          38

2.1.2        PRIMARY DATA 38

2.1.2.1    Primary interviews with experts         38

2.1.2.2    Breakdown of primary profiles           39

2.1.2.3    Key insights from industry experts    39

2.2           MARKET SIZE ESTIMATION         40

2.2.1        TOP-DOWN APPROACH                40

2.2.2        BOTTOM-UP APPROACH              41

2.3           DATA TRIANGULATION                44

2.4           LIMITATIONS AND RISK ASSESSMENT   45

2.5           RESEARCH ASSUMPTIONS           45

2.6           LIMITATIONS    46

3               EXECUTIVE SUMMARY  47

4               PREMIUM INSIGHTS       49

4.1           ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET      49

4.2           APPLICATION MODERNIZATION SERVICES MARKET,  BY SERVICE TYPE             49

4.3           APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE 50

4.4           APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL            50

4.5           NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE AND APPLICATION TYPE                 51

5               MARKET OVERVIEW AND INDUSTRY TRENDS    52

5.1           INTRODUCTION              52

5.2           MARKET DYNAMICS       52

5.2.1        DRIVERS               53

5.2.1.1    Rise in digital transformation initiatives           53

5.2.1.2    Demand for flexibility and scalability through cloud computing                 53

5.2.1.3    Rapid technological advancements    53

5.2.1.4    Shift toward modernization by cloud-native technologies                 54

5.2.1.5    Stringent regulatory compliance and security 54

5.2.2        RESTRAINTS      54

5.2.2.1    High costs and complexity  54

5.2.2.2    Legacy system dependencies              54

5.2.3        OPPORTUNITIES              55

5.2.3.1    Proliferation of Kubernetes and containerization            55

5.2.3.2    Evolution of open standards for software development 55

5.2.3.3    Emerging markets and SMEs             55

5.2.3.4    Existence of large number of legacy applications            55

5.2.4        CHALLENGES    56

5.2.4.1    Vendor lock-in and platform dependencies     56

5.2.4.2    Managing technical debt     56

5.3           EVOLUTION OF APPLICATION MODERNIZATION SERVICES             56

5.4           APPLICATION MODERNIZATION SERVICES: ECOSYSTEM ANALYSIS  57

5.5           CASE STUDY ANALYSIS 59

5.5.1        AIRBNB MODERNIZED RUBY ON RAILS MONOLITH USING KUBERNETES TO REDUCE TECH DEBT   59

5.5.2        MODERNIZATION OF ATRUVIA AG’S BANKING APPLICATION   60

5.5.3        LEGACY SYSTEMS’ MODERNIZATION FOR BIOPHARMA BY HCL ON AWS                60

5.5.4        APPLICATION MODERNIZATION FOR LEADING MEDICAL LABORATORY RESULTING IN BETTER ROI      61

5.5.5        UNIPER ENERGY’S UK TRADING SOLUTIONS MODERNIZED BY INFOSYS          61

5.6           SUPPLY CHAIN ANALYSIS             62

5.7           REGULATORY LANDSCAPE         63

5.7.1        REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             63

5.7.2        REGULATIONS  68

5.7.2.1    North America      68

5.7.2.1.1 US           68

5.7.2.1.2 Canada   68

5.7.2.2    Europe   68

5.7.2.2.1 UK          68

5.7.2.2.2 Germany                 68

5.7.2.3    Asia Pacific            69

5.7.2.3.1 South Korea           69

5.7.2.3.2 China      69

5.7.2.3.3 Japan      69

5.7.2.3.4 India       69

5.7.2.4    Middle East & Africa            69

5.7.2.4.1 UAE        69

5.7.2.4.2 KSA        69

5.7.2.5    Latin America       70

5.7.2.5.1 Brazil      70

5.7.2.5.2 Mexico   70

5.8           PRICING ANALYSIS          70

5.8.1        AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE, 2024           70

5.8.2        INDICATIVE PRICING ANALYSIS, BY SERVICE FEATURE, 2024        72

5.9           PORTER’S FIVE FORCES ANALYSIS           72

5.9.1        THREAT OF NEW ENTRANTS      73

5.9.2        THREAT OF SUBSTITUTES          73

5.9.3        BARGAINING POWER OF BUYERS             74

5.9.4        BARGAINING POWER OF SUPPLIERS       74

5.9.5        INTENSITY OF COMPETITIVE RIVALRY 74

5.10         TECHNOLOGY ANALYSIS             74

5.10.1      KEY TECHNOLOGIES     74

5.10.1.1  Cloud platforms    74

5.10.1.2  Containerization   74

5.10.1.3  DevOps tools and CI/CD pipelines  74

5.10.1.4  Microservices architecture  75

5.10.1.5  API management platforms                75

5.10.1.6  Low-code/No-code platforms            75

5.10.2      ADJACENT TECHNOLOGIES       75

5.10.2.1  Edge computing   75

5.10.2.2  5G and next-generation networks     75

5.10.2.3  Blockchain             75

5.10.2.4  Quantum computing            75

5.10.2.5  Augmented reality (AR) and virtual reality (VR)            75

5.10.3      COMPLEMENTARY TECHNOLOGIES       76

5.10.3.1  AI/ML integration                76

5.10.3.2  Robotic process automation (RPA)   76

5.10.3.3  Identity and access management (IAM)           76

5.10.3.4  Data lakes and data warehousing       76

5.10.3.5  Enterprise service bus (ESB)              76

5.11         PATENT ANALYSIS          77

5.12         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES       82

5.13         KEY STAKEHOLDERS AND BUYING CRITERIA     83

5.13.1      KEY STAKEHOLDERS IN BUYING PROCESS           83

5.13.2      BUYING CRITERIA           84

5.14         KEY CONFERENCES AND EVENTS, 2025–2026        85

5.15         TECHNOLOGY ROADMAP FOR APPLICATION MODERNIZATION SERVICES MARKET    85

5.15.1      SHORT-TERM ROADMAP (2026–2027)      85

5.15.2      MID-TERM ROADMAP (2028–2029)            86

5.15.3      LONG-TERM ROADMAP (2030–2031)        86

5.16         BEST PRACTICES IN APPLICATION MODERNIZATION SERVICES MARKET          86

5.16.1      CONDUCT THOROUGH ASSESSMENT   86

5.16.2      DEFINE CLEAR GOALS AND OBJECTIVES              86

5.16.3      DEVELOP MODERNIZATION ROADMAP                86

5.16.4      CHOOSE RIGHT MODERNIZATION APPROACH 87

5.16.5      PRIORITIZE APPLICATIONS FOR MODERNIZATION                 87

5.16.6      OPTIMIZE FOR CLOUD 87

5.16.7      ENSURE CONTINUOUS MONITORING AND OPTIMIZATION                87

5.16.8      ENGAGE STAKEHOLDERS THROUGHOUT PROCESS                 87

5.17         CURRENT AND EMERGING BUSINESS MODELS 87

5.17.1      PLATFORM-AS-A-SERVICE (PAAS)            87

5.17.2      CONSULTATIVE SERVICES MODEL          87

5.17.3      OUTCOME-BASED MODELS        87

5.17.4      OPEN-SOURCE MODEL 88

5.17.5      CO-DEVELOPMENT MODEL       88

5.17.6      AUTOMATED MODELS 88

5.18         INVESTMENT AND FUNDING SCENARIO               88

5.19         IMPACT OF GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES MARKET    89

5.19.1      IMPACT OF AI/GENERATIVE AI ON APPLICATION MODERNIZATION SERVICES       89

5.19.2      USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES       90

5.19.3      BEST PRACTICES              91

5.19.3.1  BFSI Industry        91

5.19.3.2  IT & ITeS Industry               91

5.19.3.3  Telecom Industry 91

5.19.4      CASE STUDIES OF GENERATIVE AI IMPLEMENTATION                 92

5.19.4.1  Modernizing a mission critical banking app     92

5.19.4.2  Cloud‑first ERP renewal for a manufacturer   92

5.19.4.3  Zero‑downtime auction platform scale‑out      92

5.19.5      CLIENT READINESS AND IMPACT ASSESSMENT 92

5.19.5.1  Client A: Global retail bank                 93

5.19.5.2  Client B: Industrial manufacturer      93

5.19.5.3  Client C: Digital marketplace             93

5.20         IMPACT OF 2025 US TARIFF – OVERVIEW              93

5.20.1      INTRODUCTION              93

5.21         KEY TARIFF RATES          94

5.22         PRICE IMPACT ANALYSIS             95

5.23         IMPACT ON COUNTRY/REGION                96

5.23.1      NORTH AMERICA             96

5.23.2      EUROPE               97

5.23.3      APAC     98

5.24         INDUSTRIES       98

5.25         7 ‘R’S OF APPLICATION MODERNIZATION           99

5.25.1      REHOST                100

5.25.2      RE-PLATFORM  100

5.25.3      REFACTOR          100

5.25.4      REVISE 100

5.25.5      REBUILD              100

5.25.6      REPLACE              100

5.25.7      RETIRE 100

6               APPLICATION MODERNIZATION SERVICES MARKET,  BY SERVICE TYPE             101

6.1           INTRODUCTION              102

6.1.1        SERVICE TYPE: MARKET DRIVERS            102

6.1.2        APPLICATION PORTFOLIO ASSESSMENT              104

6.1.2.1    Need for strategic evaluation to streamline modernization paths to drive initial adoption of portfolio assessments            104

6.1.3        CLOUD APPLICATION MIGRATION         105

6.1.3.1    Rapid adoption of cloud infrastructure to support these services as businesses seek scalability and cost-efficiency             105

6.1.4        APPLICATION RE-PLATFORMING             106

6.1.4.1    Demand for performance optimization without complete rewrites                 106

6.1.5        APPLICATION INTEGRATION    107

6.1.5.1    Increase in complexity of hybrid environments to drive need for seamless application integration across cloud and legacy systems                 107

6.1.6        UI/UX MODERNIZATION              108

6.1.6.1    Growth in emphasis on user-centric digital experiences to sustain demand for UI/UX modernization    108

6.1.7        POST-MODERNIZATION SERVICES          109

6.1.7.1    Ongoing need for support in maintaining modernized applications to ensure steady, albeit slower, growth of post-modernization services  109

7               APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE 111

7.1           INTRODUCTION              112

7.1.1        APPLICATION TYPE: MARKET DRIVERS 112

7.1.2        LEGACY APPLICATIONS                113

7.1.2.1    Need to reduce operational costs of legacy applications and integrate with modern technologies  113

7.1.3        CLOUD-HOSTED APPLICATIONS              114

7.1.3.1    Growth in demand for scalable and cost-efficient IT infrastructure to fuel adoption of cloud-hosted application modernization                 114

7.1.4        CLOUD-NATIVE APPLICATIONS                115

7.1.4.1    Push for innovation, scalability, and speed in digital transformation to drive rapid adoption of cloud-native applications                 115

8               APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL            117

8.1           INTRODUCTION              118

8.1.1        VERTICAL: MARKET DRIVERS    118

8.2           BFSI       120

8.2.1        NEED FOR SECURE, SCALABLE, AND EFFICIENT FINANCIAL SERVICES     120

8.2.2        BFSI: APPLICATION MODERNIZATION SERVICE USE CASES   121

8.2.2.1    Core banking system modernization 121

8.2.2.2    Claims processing overhaul 121

8.2.2.3    Digital customer portals      121

8.2.2.4    Real-time risk management                 121

8.2.2.5    Payment gateway integration              121

8.3           IT & ITES              122

8.3.1        NEED FOR AGILE SERVICE DELIVERY AND TECHNOLOGICAL INTEGRATION            122

8.3.2        IT & ITES: APPLICATION MODERNIZATION SERVICE USE CASES           122

8.3.2.1    ERP cloud migration            122

8.3.2.2    Unified IT management systems       122

8.3.2.3    Customer support systems modernization       122

8.3.2.4    Cloud-native software optimization  123

8.3.2.5    Hybrid cloud management systems   123

8.4           HEALTHCARE & LIFE SCIENCES 124

8.4.1        NEED FOR IMPROVED PATIENT CARE, DIGITAL HEALTH SOLUTIONS,

AND EFFICIENT DATA MANAGEMENT   124

8.4.2        HEALTHCARE & LIFE SCIENCES: APPLICATION MODERNIZATION

SERVICE USE CASES        124

8.4.2.1    EHR cloud migration           124

8.4.2.2    Pharmaceutical research modernization           124

8.4.2.3    Health insurance claims      124

8.4.2.4    Telemedicine platforms       124

8.4.2.5    Medical device connectivity                124

8.5           MANUFACTURING          125

8.5.1        DRIVE TOWARD SMART FACTORIES AND REAL-TIME SUPPLY CHAIN OPTIMIZATION 125

8.5.2        MANUFACTURING: APPLICATION MODERNIZATION SERVICE USE CASES        126

8.5.2.1    Smart factory implementations          126

8.5.2.2    Predictive maintenance solutions      126

8.5.2.3    Integrated supply chain management                126

8.5.2.4    Quality control enhancements            126

8.5.2.5    Collaborative robotics integration      126

8.6           TELECOM            127

8.6.1        RAPID GROWTH OF 5G NETWORKS AND DEMAND FOR ENHANCED SERVICE DELIVERY                127

8.6.2        TELECOM: APPLICATION MODERNIZATION SERVICE USE CASES           127

8.6.2.1    5G network management modernization          127

8.6.2.2    Cloud-based CRM systems 127

8.6.2.3    Billing system integration   127

8.6.2.4    Network automation             128

8.6.2.5    Self-service portal modernization      128

8.7           TRANSPORTATION & LOGISTICS              129

8.7.1        DEMAND FOR REAL-TIME VISIBILITY AND OPERATIONAL EFFICIENCY        129

8.7.2        TRANSPORTATION & LOGISTICS: APPLICATION MODERNIZATION SERVICE USE CASES  129

8.7.2.1    Cloud-based fleet management systems           129

8.7.2.2    Integrated warehouse management   129

8.7.2.3    Enhanced shipping portals 129

8.7.2.4    Visibility and responsiveness improvements    129

8.7.2.5    Predictive analytics for demand forecasting     129

8.8           MEDIA & ENTERTAINMENT        130

8.8.1        NEED FOR INNOVATIVE CONTENT DELIVERY AND PERSONALIZED VIEWER EXPERIENCES 130

8.8.2        MEDIA & ENTERTAINMENT: APPLICATION MODERNIZATION SERVICE USE CASES  131

8.8.2.1    Cloud-based content delivery networks            131

8.8.2.2    Personalized user experiences            131

8.8.2.3    Digital asset management systems    131

8.8.2.4    Enhanced audience analytics              131

8.8.2.5    Integrated marketing solutions          131

8.9           RETAIL & E-COMMERCE                132

8.9.1        ADOPTION OF PERSONALIZED CUSTOMER EXPERIENCES AND STREAMLINED OPERATIONS              132

8.9.2        RETAIL & E-COMMERCE: APPLICATION MODERNIZATION SERVICE USE CASES  132

8.9.2.1    Cloud-based inventory management 132

8.9.2.2    Customer loyalty program modernization        132

8.9.2.3    POS and e-commerce integration      132

8.9.2.4    Demand forecasting modernization  133

8.9.2.5    Scalable e-commerce platforms          133

8.10         GOVERNMENT 134

8.10.1      NEED FOR ENHANCED CITIZEN ENGAGEMENT AND EFFICIENT SERVICE DELIVERY  134

8.10.2      GOVERNMENT: APPLICATION MODERNIZATION SERVICE USE CASES        134

8.10.2.1  Citizen services cloud migration        134

8.10.2.2  Document management system overhaul         134

8.10.2.3  Inter-agency communication integration          134

8.10.2.4  User-friendly public service apps       134

8.10.2.5  Disaster recovery planning 134

8.11         OTHER VERTICALS         135

8.11.1      OTHER VERTICALS: APPLICATION MODERNIZATION SERVICE USE CASES        136

8.11.1.1  Cloud-based booking systems             136

8.11.1.2  Personalized travel recommendations               136

8.11.1.3  Cloud-based student information systems       136

8.11.1.4  Interactive virtual classrooms             136

8.11.1.5  Adaptive learning platforms                136

9               APPLICATION MODERNIZATION SERVICES MARKET, BY REGION                138

9.1           INTRODUCTION              139

9.2           NORTH AMERICA             140

9.2.1        NORTH AMERICA: MACROECONOMIC OUTLOOK                 140

9.2.2        US           144

9.2.2.1    Rise in prevalence of AI advancements, automation, and next-gen network technologies           144

9.2.3        CANADA               147

9.2.3.1    Government-backed digital initiatives and cloud adoption to fuel modernization across public and private sectors             147

9.3           EUROPE               150

9.3.1        EUROPE: MACROECONOMIC OUTLOOK               150

9.3.2        UK          154

9.3.2.1    Stringent regulations support adoption of application modernization services in UK             154

9.3.3        GERMANY           157

9.3.3.1    Strong focus on Industry 4.0 and smart manufacturing, and need for advanced networking solutions    157

9.3.4        FRANCE                160

9.3.4.1    Increased demand for digital services and automation to boost modernization across sectors              160

9.3.5        ITALY    163

9.3.5.1    Transformation of legacy infrastructure, particularly in finance and telecom           163

9.3.6        REST OF EUROPE             166

9.4           ASIA PACIFIC     169

9.4.1        ASIA PACIFIC: MACROECONOMIC OUTLOOK     169

9.4.2        CHINA  173

9.4.2.1    Significant investments by key players and need for rapid development and adoption of new technologies              173

9.4.3        JAPAN   176

9.4.3.1    Increase in adoption of advanced technologies and integration

with AI and automation       176

9.4.4        INDIA    179

9.4.4.1    Growing focus on cloud and network connectivity powered

by AI technology   179

9.4.5        REST OF ASIA PACIFIC   182

9.5           MIDDLE EAST & AFRICA                185

9.5.1        MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK                 186

9.5.2        UAE        189

9.5.2.1    Economic Vision 2030’s focus on digital transformation to key driver for modernization in public and private sectors   189

9.5.3        KSA        192

9.5.3.1    Saudi’s need for digital transformation driven by Vision 2030 agenda    192

9.5.4        AFRICA 195

9.5.4.1    Growing need for digital infrastructure and modernized telecom and financial systems           195

9.5.5        REST OF MIDDLE EAST & AFRICA             198

9.6           LATIN AMERICA                201

9.6.1        LATIN AMERICA: MACROECONOMIC OUTLOOK                 202

9.6.2        BRAZIL 205

9.6.2.1    Ongoing investments in telecom infrastructure and modernization projects        205

9.6.3        MEXICO                208

9.6.3.1    Shift toward cloud modernization in public and financial sectors                 208

9.6.4        REST OF LATIN AMERICA             210

10            COMPETITIVE LANDSCAPE         214

10.1         INTRODUCTION              214

10.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022-2025                 214

10.3         MARKET SHARE ANALYSIS           216

10.3.1      MARKET RANKING ANALYSIS     219

10.4         REVENUE ANALYSIS, 2020-2024   220

10.5         BRAND/PRODUCT COMPARISON             221

10.6         COMPANY VALUATION AND FINANCIAL METRICS                 222

10.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 223

10.7.1      STARS   223

10.7.2      EMERGING LEADERS     223

10.7.3      PERVASIVE PLAYERS      223

10.7.4      PARTICIPANTS 223

10.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         225

10.7.5.1  Company footprint               225

10.7.5.2  Service type footprint           226

10.7.5.3  Application type footprint   227

10.7.5.4  Vertical footprint  229

10.7.5.5  Regional footprint                 230

10.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        232

10.8.1      PROGRESSIVE COMPANIES         232

10.8.2      RESPONSIVE COMPANIES            232

10.8.3      DYNAMIC COMPANIES  232

10.8.4      STARTING BLOCKS         232

10.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 234

10.8.5.1  Key startups/SMEs              234

10.8.5.2  Competitive benchmarking of key startups/SMEs          235

10.9         COMPETITIVE SCENARIO             236

10.9.1      PRODUCT LAUNCHES   236

10.9.2      DEALS  238

11            COMPANY PROFILES      241

11.1         KEY PLAYERS     241

11.1.1      IBM        241

11.1.1.1  Business overview 241

11.1.1.2  Products/Solutions/Services offered 242

11.1.1.3  Recent developments           243

11.1.1.3.1                Product launches  243

11.1.1.3.2                Deals      244

11.1.1.4  MnM view              244

11.1.1.4.1                Key strengths        244

11.1.1.4.2                Strategic choices   245

11.1.1.4.3                Weaknesses and competitive threats 245

11.1.2      MICROSOFT       246

11.1.2.1  Business overview 246

11.1.2.2  Products/Solutions/Services offered 247

11.1.2.3  Recent developments           248

11.1.2.3.1                Product launches  248

11.1.2.3.2                Deals      249

11.1.2.4  MnM view              251

11.1.2.4.1                Key strengths        251

11.1.2.4.2                Strategic choices   251

11.1.2.4.3                Weaknesses and competitive threats 251

11.1.3      HCL TECHNOLOGIES     252

11.1.3.1  Business overview 252

11.1.3.2  Products/Solutions/Services offered 253

11.1.3.3  Recent developments           254

11.1.3.3.1                Product launches  254

11.1.3.3.2                Deals      255

11.1.3.4  MnM view              256

11.1.3.4.1                Key strengths        256

11.1.3.4.2                Strategic choices   256

11.1.3.4.3                Weaknesses and competitive threats 256

11.1.4      ACCENTURE      257

11.1.4.1  Business overview 257

11.1.4.2  Platforms/Solutions/Services offered                258

11.1.4.3  Recent developments           259

11.1.4.3.1                Deals      259

11.1.4.4  MnM view              261

11.1.4.4.1                Key strengths        261

11.1.4.4.2                Strategic choices   261

11.1.4.4.3                Weaknesses and competitive threats 261

11.1.5      AWS       262

11.1.5.1  Business overview 262

11.1.5.2  Products/Solutions/Services offered 263

11.1.5.3  Recent developments           264

11.1.5.3.1                Deals      264

11.1.5.4  MnM view              265

11.1.5.4.1                Right to win           265

11.1.5.4.2                Strategic choices   265

11.1.5.4.3                Weaknesses and competitive threats 265

11.1.6      ATOS     266

11.1.6.1  Business overview 266

11.1.6.2  Platforms/Solutions/Services offered                267

11.1.6.3  Recent developments           268

11.1.6.3.1                Product launches  268

11.1.6.3.2                Deals      268

11.1.6.4  MnM view              270

11.1.6.4.1                Key strengths        270

11.1.6.4.2                Strategic choices   270

11.1.6.4.3                Weaknesses and competitive threats 270

11.1.7      CAPGEMINI        271

11.1.7.1  Business overview 271

11.1.7.2  Platforms/Solutions/Services offered                272

11.1.7.3  Recent developments           273

11.1.7.3.1                Product launches  273

11.1.7.3.2                Deals      273

11.1.7.4  MnM view              275

11.1.7.4.1                Key strengths        275

11.1.7.4.2                Strategic choices   275

11.1.7.4.3                Weaknesses and competitive threats 275

11.1.8      ORACLE                276

11.1.8.1  Business overview 276

11.1.8.2  Products/Solutions/Services offered 277

11.1.8.3  Recent developments           278

11.1.8.3.1                Product launches  278

11.1.8.3.2                Deals      279

11.1.8.4  MnM view              280

11.1.8.4.1                Key strengths        280

11.1.8.4.2                Strategic choices   281

11.1.8.4.3                Weaknesses and competitive threats 281

11.1.9      COGNIZANT      282

11.1.9.1  Business overview 282

11.1.9.2  Platforms/Solutions/Services offered                283

11.1.9.3  Recent developments           284

11.1.9.3.1                Deals      284

11.1.10   TCS        286

11.1.10.1                 Business overview 286

11.1.10.2                 Platforms/Solutions/Services offered                287

11.1.10.3                 Recent developments           288

11.1.10.3.1             Product launches  288

11.1.10.3.2             Deals      289

11.1.11   INNOVA SOLUTIONS     292

11.1.12   EPAM SYSTEMS 293

11.1.13   ASPIRE SYSTEMS              294

11.1.14   NTT DATA          295

11.1.15   DELL TECHNOLOGIES  296

11.1.16   DXC TECHNOLOGY        297

11.1.17   LTIMINDTREE  298

11.1.18   INFOSYS               299

11.1.19   WIPRO  300

11.1.20   ROCKET SOFTWARE, INC.            302

11.1.21   FUJITSU                303

11.1.22   HEXAWARE TECHNOLOGIES      304

11.1.23   VIRTUSA              305

11.1.24   MONGODB         306

11.1.25   SCIENCESOFT   307

11.1.26   SIMFORM             308

11.1.27   UTTHUNGA        309

11.1.28   RISHABH SOFTWARE     310

11.2         STARTUPS/SMES              311

11.2.1      SOFTURA             311

11.2.2      CLOUDHEDGE TECHNOLOGIES PVT. LTD.          312

11.2.3      D3V TECHNOLOGY         313

11.2.4      BAYSHORE INTELLIGENCE SOLUTIONS                314

11.2.5      OPINOV8             315

11.2.6      ICREON                316

11.2.7      SYMPHONY SOLUTIONS               317

11.2.8      CLEVEROAD      318

11.2.9      TECHAHEAD      319

11.2.10   GEOMOTIV         320

11.2.11   SOFT SUAVE      321

11.2.12   PALMDIGITALZ                322

11.2.13   AVERISOURCE  323

11.2.14   VERITIS                324

12            ADJACENT AND RELATED MARKETS      325

12.1         INTRODUCTION              325

12.2         DIGITAL TRANSFORMATION MARKET  325

12.2.1      MARKET DEFINITION   325

12.3         MAINFRAME MODERNIZATION MARKET              329

12.3.1      MARKET DEFINITION   329

13            APPENDIX           333

13.1         DISCUSSION GUIDE        333

13.2         KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL                336

13.3         CUSTOMIZATION OPTIONS        338

13.4         RELATED REPORTS         338

13.5         AUTHOR DETAILS           339

LIST OF TABLES

TABLE 1                USD EXCHANGE RATES, 2020–2024            35

TABLE 2                APPLICATION MODERNIZATION SERVICES MARKET: ECOSYSTEM   58

TABLE 3                NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  63

TABLE 4                EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  64

TABLE 5                ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 65

TABLE 6                ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,

AND OTHER ORGANIZATIONS  67

TABLE 7                AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE, 2024         71

TABLE 8                INDICATIVE PRICING LEVELS OF APPLICATION MODERNIZATION SERVICES, 2024             72

TABLE 9                PORTER’S FIVE FORCES IMPACT ON APPLICATION MODERNIZATION

SERVICES MARKET          72

TABLE 10              LIST OF KEY PATENTS   78

TABLE 11              INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS   83

TABLE 12              KEY BUYING CRITERIA FOR TOP THREE VERTICALS         84

TABLE 13              APPLICATION MODERNIZATION SERVICES MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2025–2026              85

TABLE 14              US-ADJUSTED RECIPROCAL TARIFF RATES                 94

TABLE 15              EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE MARKET DUE

TO TARIFF IMPACT         95

TABLE 16              APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,

2018–2024 (USD MILLION)            103

TABLE 17              APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,

2025–2031 (USD MILLION)            103

TABLE 18              APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            104

TABLE 19              APPLICATION PORTFOLIO ASSESSMENT SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            105

TABLE 20              CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            105

TABLE 21              CLOUD APPLICATION MIGRATION SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            106

TABLE 22              APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            106

TABLE 23              APPLICATION RE-PLATFORMING SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            107

TABLE 24              APPLICATION INTEGRATION SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            107

TABLE 25              APPLICATION INTEGRATION SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            108

TABLE 26              UI/UX MODERNIZATION SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            108

TABLE 27              UI/UX MODERNIZATION SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            109

TABLE 28              POST-MODERNIZATION SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            109

TABLE 29              POST-MODERNIZATION SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            110

TABLE 30              APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE,

2018–2024 (USD MILLION)            113

TABLE 31              APPLICATION MODERNIZATION SERVICES MARKET, BY APPLICATION TYPE,

2025–2031 (USD MILLION)            113

TABLE 32              LEGACY APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            114

TABLE 33              LEGACY APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            114

TABLE 34              CLOUD-HOSTED APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,  2018–2024 (USD MILLION) 115

TABLE 35              CLOUD-HOSTED APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,  2025–2031 (USD MILLION) 115

TABLE 36              CLOUD-NATIVE APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,  2018–2024 (USD MILLION) 116

TABLE 37              CLOUD-NATIVE APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,  2025–2031 (USD MILLION) 116

TABLE 38              APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            119

TABLE 39              APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            120

TABLE 40              APPLICATION MODERNIZATION SERVICES MARKET IN BFSI, BY REGION,

2018–2024 (USD MILLION)            121

TABLE 41              APPLICATION MODERNIZATION SERVICES MARKET IN BFSI, BY REGION,

2025–2031 (USD MILLION)            122

TABLE 42              APPLICATION MODERNIZATION SERVICES MARKET IN IT & ITES, BY REGION,  2018–2024 (USD MILLION)                 123

TABLE 43              APPLICATION MODERNIZATION SERVICES MARKET IN IT & ITES, BY REGION,  2025–2031 (USD MILLION)                 123

TABLE 44              APPLICATION MODERNIZATION SERVICES MARKET IN HEALTHCARE & LIFE SCIENCES,  BY REGION, 2018–2024 (USD MILLION)       125

TABLE 45              APPLICATION MODERNIZATION SERVICES MARKET IN HEALTHCARE & LIFE SCIENCES,  BY REGION, 2025–2031 (USD MILLION)       125

TABLE 46              APPLICATION MODERNIZATION SERVICES MARKET IN MANUFACTURING,

BY REGION,  2018–2024 (USD MILLION)                 126

TABLE 47              APPLICATION MODERNIZATION SERVICES MARKET IN MANUFACTURING,

BY REGION,  2025–2031 (USD MILLION)                 127

TABLE 48              APPLICATION MODERNIZATION SERVICES MARKET IN TELECOM, BY REGION,  2018–2024 (USD MILLION)                 128

TABLE 49              APPLICATION MODERNIZATION SERVICES MARKET IN TELECOM, BY REGION,  2025–2031 (USD MILLION)                 128

TABLE 50              APPLICATION MODERNIZATION SERVICES MARKET IN TRANSPORTATION & LOGISTICS,  BY REGION, 2018–2024 (USD MILLION)            130

TABLE 51              APPLICATION MODERNIZATION SERVICES MARKET IN TRANSPORTATION & LOGISTICS,  BY REGION, 2025–2031 (USD MILLION)            130

TABLE 52              APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT,  BY REGION, 2018–2024 (USD MILLION) 131

TABLE 53              APPLICATION MODERNIZATION SERVICES MARKET IN MEDIA & ENTERTAINMENT,  BY REGION, 2025–2031 (USD MILLION) 132

TABLE 54              APPLICATION MODERNIZATION SERVICES MARKET IN RETAIL & E-COMMERCE,

BY REGION, 2018–2024 (USD MILLION)   133

TABLE 55              APPLICATION MODERNIZATION SERVICES MARKET IN RETAIL & E-COMMERCE,

BY REGION, 2025–2031 (USD MILLION)   133

TABLE 56              APPLICATION MODERNIZATION SERVICES MARKET IN GOVERNMENT, BY REGION,  2018–2024 (USD MILLION)            135

TABLE 57              APPLICATION MODERNIZATION SERVICES MARKET IN GOVERNMENT, BY REGION,  2025–2031 (USD MILLION)            135

TABLE 58              APPLICATION MODERNIZATION SERVICES MARKET IN OTHER VERTICALS,

BY REGION, 2018–2024 (USD MILLION)   136

TABLE 59              APPLICATION MODERNIZATION SERVICES MARKET IN OTHER VERTICALS,

BY REGION, 2025–2031 (USD MILLION)   137

TABLE 60              APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,

2018–2024 (USD MILLION)            139

TABLE 61              APPLICATION MODERNIZATION SERVICES MARKET, BY REGION,

2025–2031 (USD MILLION)            139

TABLE 62              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE,  2018–2024 (USD MILLION)   141

TABLE 63              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE,  2025–2031 (USD MILLION)   141

TABLE 64              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2018–2024 (USD MILLION)           142

TABLE 65              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2025–2031 (USD MILLION)           142

TABLE 66              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL,  2018–2024 (USD MILLION)            142

TABLE 67              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL,  2025–2031 (USD MILLION)            143

TABLE 68              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY COUNTRY,  2018–2024 (USD MILLION)            143

TABLE 69              NORTH AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY COUNTRY,  2025–2031 (USD MILLION)            143

TABLE 70              US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,

2018–2024 (USD MILLION)            144

TABLE 71              US: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,

2025–2031 (USD MILLION)            145

TABLE 72              US: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)                 145

TABLE 73              US: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)                 145

TABLE 74              US: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            146

TABLE 75              US: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            146

TABLE 76              CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            147

TABLE 77              CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            148

TABLE 78              CANADA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            148

TABLE 79              CANADA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            148

TABLE 80              CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            149

TABLE 81              CANADA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            149

TABLE 82              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            151

TABLE 83              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            151

TABLE 84              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            151

TABLE 85              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            152

TABLE 86              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)          152

TABLE 87              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            153

TABLE 88              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,

2018–2024 (USD MILLION)            153

TABLE 89              EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,

2025–2031 (USD MILLION)            154

TABLE 90              UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,

2018–2024 (USD MILLION)            155

TABLE 91              UK: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,

2025–2031 (USD MILLION)            155

TABLE 92              UK: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)                 155

TABLE 93              UK: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)                 156

TABLE 94              UK: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            156

TABLE 95              UK: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)          157

TABLE 96              GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            158

TABLE 97              GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            158

TABLE 98              GERMANY: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            158

TABLE 99              GERMANY: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            159

TABLE 100            GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,  2018–2024 (USD MILLION)                 159

TABLE 101            GERMANY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,  2025–2031 (USD MILLION)                 160

TABLE 102            FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            161

TABLE 103            FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            161

TABLE 104            FRANCE: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            161

TABLE 105            FRANCE: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            162

TABLE 106            FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            162

TABLE 107            FRANCE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            163

TABLE 108            ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            164

TABLE 109            ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            164

TABLE 110            ITALY: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            164

TABLE 111            ITALY: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            165

TABLE 112            ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            165

TABLE 113            ITALY: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            166

TABLE 114            REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE, 2018–2024 (USD MILLION)       167

TABLE 115            REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)       167

TABLE 116            REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2018–2024 (USD MILLION)           167

TABLE 117            REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2025–2031 (USD MILLION)           168

TABLE 118            REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL,  2018–2024 (USD MILLION)            168

TABLE 119            REST OF EUROPE: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL,  2025–2031 (USD MILLION)            169

TABLE 120            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            170

TABLE 121            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            171

TABLE 122            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            171

TABLE 123            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            171

TABLE 124            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,  2018–2024 (USD MILLION)                 172

TABLE 125            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,  2025–2031 (USD MILLION)                 172

TABLE 126            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,  2018–2024 (USD MILLION)                 173

TABLE 127            ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,  2025–2031 (USD MILLION)                 173

TABLE 128            CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            174

TABLE 129            CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            174

TABLE 130            CHINA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            174

TABLE 131            CHINA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            175

TABLE 132            CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            175

TABLE 133            CHINA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)          176

TABLE 134            JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            177

TABLE 135            JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            177

TABLE 136            JAPAN: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            177

TABLE 137            JAPAN: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            178

TABLE 138            JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            178

TABLE 139            JAPAN: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            179

TABLE 140            INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            180

TABLE 141            INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            180

TABLE 142            INDIA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            180

TABLE 143            INDIA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            181

TABLE 144            INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            181

TABLE 145            INDIA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            182

TABLE 146            REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE, 2018–2024 (USD MILLION)      183

TABLE 147            REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE, 2025–2031 (USD MILLION)      183

TABLE 148            REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2018–2024 (USD MILLION)         183

TABLE 149            REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2025–2031 (USD MILLION)           184

TABLE 150            REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL,  2018–2024 (USD MILLION)            184

TABLE 151            REST OF ASIA PACIFIC: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL,  2025–2031 (USD MILLION)            185

TABLE 152            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE, 2018–2024 (USD MILLION)      186

TABLE 153            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE, 2025–2031 (USD MILLION)      187

TABLE 154            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2018–2024 (USD MILLION)           187

TABLE 155            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2025–2031 (USD MILLION)           187

TABLE 156            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL, 2018–2024 (USD MILLION)               188

TABLE 157            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL, 2025–2031 (USD MILLION)               188

TABLE 158            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY COUNTRY, 2018–2024 (USD MILLION)               189

TABLE 159            MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY COUNTRY, 2025–2031 (USD MILLION)               189

TABLE 160            UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            190

TABLE 161            UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            190

TABLE 162            UAE: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            190

TABLE 163            UAE: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            191

TABLE 164            UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            191

TABLE 165            UAE: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            192

TABLE 166            KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)                 193

TABLE 167            KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)                 193

TABLE 168            KSA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)                 193

TABLE 169            KSA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)                 194

TABLE 170            KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            194

TABLE 171            KSA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            195

TABLE 172            AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            196

TABLE 173            AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            196

TABLE 174            AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            196

TABLE 175            AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            197

TABLE 176            AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            197

TABLE 177            AFRICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            198

TABLE 178            REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY SERVICE TYPE, 2018–2024 (USD MILLION)       199

TABLE 179            REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY SERVICE TYPE, 2025–2031 (USD MILLION)       199

TABLE 180            REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            199

TABLE 181            REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            200

TABLE 182            REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY VERTICAL, 2018–2024 (USD MILLION) 200

TABLE 183            REST OF MIDDLE EAST & AFRICA: APPLICATION MODERNIZATION SERVICES MARKET,  BY VERTICAL, 2025–2031 (USD MILLION) 201

TABLE 184            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)       202

TABLE 185            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)       202

TABLE 186            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2018–2024 (USD MILLION)           203

TABLE 187            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2025–2031 (USD MILLION)           203

TABLE 188            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,  2018–2024 (USD MILLION) 203

TABLE 189            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,  2025–2031 (USD MILLION) 204

TABLE 190            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,  2018–2024 (USD MILLION)       204

TABLE 191            LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET, BY COUNTRY,  2025–2031 (USD MILLION)       204

TABLE 192            BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            205

TABLE 193            BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            206

TABLE 194            BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            206

TABLE 195            BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            206

TABLE 196            BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            207

TABLE 197            BRAZIL: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            207

TABLE 198            MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2018–2024 (USD MILLION)            208

TABLE 199            MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY SERVICE TYPE,  2025–2031 (USD MILLION)            208

TABLE 200            MEXICO: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2018–2024 (USD MILLION)            209

TABLE 201            MEXICO: APPLICATION MODERNIZATION SERVICES MARKET,  BY APPLICATION TYPE, 2025–2031 (USD MILLION)            209

TABLE 202            MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2018–2024 (USD MILLION)            209

TABLE 203            MEXICO: APPLICATION MODERNIZATION SERVICES MARKET, BY VERTICAL,

2025–2031 (USD MILLION)            210

TABLE 204            REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE, 2018–2024 (USD MILLION)      211

TABLE 205            REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY SERVICE TYPE, 2025–2031 (USD MILLION)      211

TABLE 206            REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2018–2024 (USD MILLION)           211

TABLE 207            REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY APPLICATION TYPE, 2025–2031 (USD MILLION)           212

TABLE 208            REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL, 2018–2024 (USD MILLION)               212

TABLE 209            REST OF LATIN AMERICA: APPLICATION MODERNIZATION SERVICES MARKET,

BY VERTICAL, 2025–2031 (USD MILLION)               213

TABLE 210            OVERVIEW OF STRATEGIES ADOPTED BY KEY APPLICATION MODERNIZATION SERVICES PLAYERS, JANUARY 2022-JULY 2025   214

TABLE 211            APPLICATION MODERNIZATION SERVICES MARKET: DEGREE OF COMPETITION    217

TABLE 212            SERVICE TYPE FOOTPRINT, 2024               226

TABLE 213            APPLICATION TYPE FOOTPRINT, 2024   227

TABLE 214            VERTICAL FOOTPRINT, 2024       229

TABLE 215            REGIONAL FOOTPRINT, 2024      230

TABLE 216            APPLICATION MODERNIZATION SERVICES MARKET: KEY STARTUPS/SMES, 2024      234

TABLE 217            APPLICATION MODERNIZATION SERVICES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES, 2024   235

TABLE 218            APPLICATION MODERNIZATION SERVICES MARKET: PRODUCT LAUNCHES, JANUARY 2022–AUGUST 2024                 236

TABLE 219            APPLICATION MODERNIZATION SERVICES MARKET: DEALS,

JANUARY 2022–AUGUST 2024       238

TABLE 220            IBM: COMPANY OVERVIEW         241

TABLE 221            IBM: PRODUCTS/SOLUTIONS/SERVICES OFFERED             242

TABLE 222            IBM: PRODUCT LAUNCHES         243

TABLE 223            IBM: DEALS        244

TABLE 224            MICROSOFT: COMPANY OVERVIEW        246

TABLE 225            MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED    247

TABLE 226            MICROSOFT: PRODUCT LAUNCHES        248

TABLE 227            MICROSOFT: DEALS       249

TABLE 228            HCL TECHNOLOGIES: COMPANY OVERVIEW                 252

TABLE 229            HCL TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED    253

TABLE 230            HCL TECHNOLOGIES: PRODUCT LAUNCHES                 254

TABLE 231            HCL TECHNOLOGIES: DEALS     255

TABLE 232            ACCENTURE: COMPANY OVERVIEW       257

TABLE 233            ACCENTURE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    258

TABLE 234            ACCENTURE: DEALS       259

TABLE 235            AWS: COMPANY OVERVIEW        262

TABLE 236            AWS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             263

TABLE 237            AWS: DEALS       264

TABLE 238            ATOS: COMPANY OVERVIEW      266

TABLE 239            ATOS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             267

TABLE 240            ATOS: PRODUCT LAUNCHES      268

TABLE 241            ATOS: DEALS     268

TABLE 242            CAPGEMINI: COMPANY OVERVIEW         271

TABLE 243            CAPGEMINI: PRODUCTS/SOLUTIONS/SERVICES OFFERED    272

TABLE 244            CAPGEMINI: PRODUCT LAUNCHES         273

TABLE 245            CAPGEMINI: DEALS        273

TABLE 246            ORACLE: COMPANY OVERVIEW                276

TABLE 247            ORACLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED             277

TABLE 248            ORACLE: PRODUCT LAUNCHES                 278

TABLE 249            ORACLE: DEALS                279

TABLE 250            COGNIZANT: COMPANY OVERVIEW       282

TABLE 251            COGNIZANT: PRODUCTS/SOLUTIONS/SERVICES OFFERED    283

TABLE 252            COGNIZANT: DEALS       284

TABLE 253            TCS: COMPANY OVERVIEW         286

TABLE 254            TCS: PRODUCTS/SOLUTIONS/SERVICES OFFERED             287

TABLE 255            TCS: PRODUCT LAUNCHES         288

TABLE 256            TCS: DEALS        289

TABLE 257            DIGITAL TRANSFORMATION MARKET, BY OFFERING, 2019–2023 (USD MILLION)     326

TABLE 258            DIGITAL TRANSFORMATION MARKET, BY OFFERING, 2024–2030 (USD MILLION)     326

TABLE 259            DIGITAL TRANSFORMATION MARKET, BY TECHNOLOGY,

2019–2023 (USD BILLION)             326

TABLE 260            DIGITAL TRANSFORMATION MARKET, BY TECHNOLOGY,

2024–2030 (USD BILLION)             327

TABLE 261            DIGITAL TRANSFORMATION MARKET, BY BUSINESS FUNCTION,

2019–2023 (USD BILLION)             327

TABLE 262            DIGITAL TRANSFORMATION MARKET, BY BUSINESS FUNCTION,

2024–2030 (USD BILLION)             327

TABLE 263            DIGITAL TRANSFORMATION MARKET, BY VERTICAL, 2019–2023 (USD BILLION)      328

TABLE 264            DIGITAL TRANSFORMATION MARKET, BY VERTICAL, 2024–2030 (USD BILLION)      328

TABLE 265            DIGITAL TRANSFORMATION MARKET, BY REGION, 2019–2023 (USD BILLION)           329

TABLE 266            DIGITAL TRANSFORMATION MARKET, BY REGION, 2024–2030 (USD BILLION)           329

TABLE 267            MAINFRAME MODERNIZATION MARKET, BY OFFERING,

2019–2024 (USD MILLION)            329

TABLE 268            MAINFRAME MODERNIZATION MARKET, BY OFFERING,

2025–2030 (USD MILLION)            330

TABLE 269            MAINFRAME MODERNIZATION MARKET, BY ORGANIZATION SIZE,

2019–2024 (USD MILLION)            330

TABLE 270            MAINFRAME MODERNIZATION MARKET, BY ORGANIZATION SIZE,

2025–2030 (USD MILLION)            330

TABLE 271            MAINFRAME MODERNIZATION MARKET, BY VERTICAL, 2019–2024 (USD MILLION)     331

TABLE 272            MAINFRAME MODERNIZATION MARKET, BY VERTICAL, 2025–2030 (USD MILLION)     331

TABLE 273            MAINFRAME MODERNIZATION MARKET, BY REGION, 2019–2024 (USD MILLION)          332

TABLE 274            MAINFRAME MODERNIZATION MARKET, BY REGION, 2025–2030 (USD MILLION)          332

LIST OF FIGURES

FIGURE 1              APPLICATION MODERNIZATION SERVICES MARKET SEGMENTATION           33

FIGURE 2              APPLICATION MODERNIZATION SERVICES MARKET: RESEARCH DESIGN     37

FIGURE 3              BREAKDOWN OF PRIMARY INTERVIEWS, BY COMPANY TYPE, DESIGNATION,

AND REGION     39

FIGURE 4              KEY INDUSTRY INSIGHTS             39

FIGURE 5              APPLICATION MODERNIZATION SERVICES MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES 40

FIGURE 6              APPROACH 1 (SUPPLY SIDE): REVENUE OF VENDORS IN APPLICATION MODERNIZATION SERVICES MARKET               41

FIGURE 7              APPROACH 2 (DEMAND SIDE): APPLICATION MODERNIZATION  SERVICES MARKET 42

FIGURE 8              MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS             42

FIGURE 9              MARKET SIZE ESTIMATION USING BOTTOM-UP APPROACH         43

FIGURE 10            DATA TRIANGULATION                44

FIGURE 11            APPLICATION MODERNIZATION SERVICES MARKET, 2024–2031 (USD MILLION)        47

FIGURE 12            APPLICATION MODERNIZATION SERVICES MARKET, BY REGION     48

FIGURE 13            RAPID ADOPTION OF CLOUD-NATIVE TECHNOLOGIES AND AI-DRIVEN AUTOMATION ACTS AS OPPORTUNITY IN APPLICATION MODERNIZATION SERVICES MARKET               49

FIGURE 14            CLOUD APPLICATION MIGRATION SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD    49

FIGURE 15            LEGACY APPLICATIONS SEGMENT TO DOMINATE MARKET DURING

FORECAST PERIOD       50

FIGURE 16            BFSI SEGMENT TO ACCOUNT FOR SIGNIFICANT MARKET SHARE                50

FIGURE 17            CLOUD APPLICATION MIGRATION AND LEGACY APPLICATION SEGMENTS TO ACCOUNT FOR SIGNIFICANT MARKET SHARES IN 2025  51

FIGURE 18            DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: APPLICATION MODERNIZATION SERVICES MARKET               52

FIGURE 19            EVOLUTION OF APPLICATION MODERNIZATION SERVICES       56

FIGURE 20            KEY PLAYERS IN APPLICATION MODERNIZATION SERVICES MARKET ECOSYSTEM          59

FIGURE 21            APPLICATION MODERNIZATION SERVICES MARKET: SUPPLY CHAIN ANALYSIS         62

FIGURE 22            AVERAGE SELLING PRICE OF KEY PLAYERS, BY SERVICE TYPE, 2024 (USD)           70

FIGURE 23            APPLICATION MODERNIZATION SERVICES MARKET: PORTER’S

FIVE FORCES ANALYSIS 73

FIGURE 24            PATENT ANALYSIS FOR APPLICATION MODERNIZATION SERVICES,

2016–2025              77

FIGURE 25            TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES           82

FIGURE 26            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS   83

FIGURE 27            KEY BUYING CRITERIA FOR TOP THREE VERTICALS         84

FIGURE 28            INVESTMENT AND FUNDING SCENARIO, 2022–2024 (USD MILLION)       88

FIGURE 29            USE CASES OF GENERATIVE AI IN APPLICATION MODERNIZATION SERVICES       90

FIGURE 30            GENERATIVE AI BEST PRACTICES ACROSS MAJOR INDUSTRIES       92

FIGURE 31            CLOUD APPLICATION MIGRATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD                 102

FIGURE 32            CLOUD-NATIVE APPLICATIONS TO GROW AT HIGHEST CAGR DURING

FORECAST PERIOD         112

FIGURE 33            TELECOM SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD          119

FIGURE 34            NORTH AMERICA: MARKET SNAPSHOT 140

FIGURE 35            ASIA PACIFIC: MARKET SNAPSHOT          170

FIGURE 36            SHARE OF LEADING COMPANIES IN APPLICATION MODERNIZATION SERVICES MARKET, 2024                 216

FIGURE 37            MARKET RANKING ANALYSIS OF TOP FIVE PLAYERS              219

FIGURE 38            REVENUE ANALYSIS OF KEY PLAYERS, 2020–2024 (USD MILLION) 220

FIGURE 39            APPLICATION MODERNIZATION SERVICES MARKET: BRAND/PRODUCT COMPARISON         221

FIGURE 40            FINANCIAL METRICS OF KEY APPLICATION MODERNIZATION

SERVICES VENDORS, 2025             222

FIGURE 41            COMPANY VALUATION, 2025      222

FIGURE 42            APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024                 224

FIGURE 43            COMPANY FOOTPRINT, 2024      225

FIGURE 44            APPLICATION MODERNIZATION SERVICES MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024        233

FIGURE 45            IBM: COMPANY SNAPSHOT         242

FIGURE 46            MICROSOFT: COMPANY SNAPSHOT        247

FIGURE 47            HCL TECHNOLOGIES: COMPANY SNAPSHOT                 253

FIGURE 48            ACCENTURE: COMPANY SNAPSHOT       258

FIGURE 49            AWS: COMPANY SNAPSHOT        263

FIGURE 50            ATOS: COMPANY SNAPSHOT     267

FIGURE 51            CAPGEMINI: COMPANY SNAPSHOT         272

FIGURE 52            ORACLE: COMPANY SNAPSHOT                277

FIGURE 53            COGNIZANT: COMPANY SNAPSHOT       283

FIGURE 54            TCS: COMPANY SNAPSHOT         287

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