The global Application Modernization Services market, valued at USD 17.82 Billion in 2023, is projected to reach USD 77.14 Billion by 2032, growing at a compound annual growth rate (CAGR) of 18.73% during the forecast period.
Application modernization service is the process of updating legacy applications to make them more efficient, scalable, and secure. The market for application modernization services has expanded as a result of the surge in the popularity of mobile payments and digital wallets, which allow users to complete transactions quickly and easily. According to Christine Wagner of the American multinational fintech company Fidelity National Information Services, Inc., mobile wallet use for checkout at Point of Sale is expected to expand by 60% in 2021. According to a report by Gartner, 59% of companies plan to invest in application modernization services in 2023. This is up from 50% in 2022. The market for application modernization services is therefore expected to be driven by the rise in the use of online payments and digital wallets. Mobile wallets also give users the flexibility and convenience to swiftly make online purchases, use ATM withdrawals, and send money to others. Mobile payments, therefore, continue to be popular because of their quickness, convenience, and security. As businesses adopt more and more cloud-based applications, they are looking for ways to improve the performance of these applications. Application modernization services can help businesses to improve application performance by optimizing code, migrating to a faster infrastructure, and using caching and load-balancing techniques. Legacy applications are often not secure and can be vulnerable to cyberattacks. Application modernization can help to improve security by migrating applications to a more secure platform or by implementing security controls. Overall, the application modernization services market is expected to grow significantly in the coming years. This is due to the increasing demand for application performance, cost reduction, and security. The market is also being shaped by the increasing use of AI, the growing popularity of microservices architecture, and the increasing demand for agile development.
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KEY DRIVERS
Growing adoption of mobile services is one of the prime factors driving the development and popularity of the application modernization services market
The increasing use of artificial intelligence
Smartphones and other mobile devices are a common choice for many individuals throughout the world to access the internet and carry out daily tasks. The Pew Research Center reports that between 2016 and 2021, adults aged 18 and older will use cell phones at a rate of 61%.
RESTRAIN
The risk of disruption
Application modernization can disrupt business operations if it is not done properly. This can be a major concern for businesses that cannot afford to have their applications offline for any period of time.
OPPORTUNITY
The increasing adoption of DevOps
The growing demand for security is creating new opportunities for application modernization services
The increasing adoption of DevOps is creating new opportunities for application modernization services. DevOps is a methodology that combines development, operations, and security teams to deliver applications faster and more reliably. Application modernization services can help businesses to adopt DevOps by automating the application deployment process and providing visibility into the application infrastructure.
CHALLENGES
Limited resources and funding
Database migration can result in lost or corrupted data, which is a significant challenge.
Organizations often have limited resources and funding to modernize their applications, which can be a significant challenge
Due to supply chain disruptions, rising costs, and uncertainty brought on by the war, implementing AMS solutions is becoming more challenging and expensive. Since the financial services sector depends so heavily on technology, the battle is generating problems in the hardware and software supply chain. Financial services organizations are finding it more expensive and difficult to update their applications as a result. An international consulting firm that provides AMS services is Capgemini. According to the company, the demand for AMS services from its clients in the retail and transportation industries has decreased. Overall, the AMS market has been significantly impacted by the Russia-Ukraine conflict. However, the market is also undergoing certain adjustments that could strengthen its resilience.
IMPACT OF ONGOING RECESSION
The market for application modernization services has been greatly impacted by the continuing recession. Businesses are under pressure to reduce expenses, which is causing them to spend less in AMS. Additionally, the recession is disrupting the supply chain, which increases the difficulty and cost of implementing AMS solutions. Global technology giant, IBM provides AMS services. According to the business, AMS sales fell 10% in the first quarter of 2023. This is a sharp decrease from the 5% growth rate that was anticipated prior to the recession. The manner that AMS is used is changing as a result of the recession. Businesses are increasingly seeking for AMS-related solutions to cut expenses and boost productivity. In addition, businesses are looking for ways to use AMS to improve customer experience. The recession is having a negative impact on the AMS market in the short term. However, the market is expected to rebound in the long term as businesses seek to improve efficiency and reduce costs.
By Deployment Mode
Public Cloud
Private Cloud
By Service Type
Application Integration
Application Portfolio Assessment
Cloud Application Migration
UI Modernization
Application Re-Platforming
Post-Modernization
By Organization Size
Large Enterprises
Small and Medium Enterprises
By Industry Verticals
Energy and Utilities
IT and ITeS
Retail and Consumer Goods
Government and Public Sector
Manufacturing
BFSI
Telecommunication
Others
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North America
USA
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSIS
In North America, the AMS market is expected to grow at a CAGR of 12% from 2023 to 2030. This growth is being driven by Cloud computing is a major driver of AMS in North America. Cloud-based platforms are more efficient, scalable, and secure than traditional on-premises platforms. This makes them a good choice for modernizing legacy applications. Businesses in North America are increasingly demanding agility from their IT systems. This means that they need to be able to quickly and easily change their applications to meet new business needs. AMS can help businesses to achieve this agility by making it easier to change applications.
In the Asia Pacific region, the AMS market is expected to grow at a CAGR of 15% from 2023 to 2030. This growth is being driven by the rapid economic growth in the Asia Pacific region: The rapid economic growth in the Asia Pacific region is leading to an increase in the demand for IT services. This includes AMS services. The growth of mobile and web applications is also driving the growth of the AMS market in the Asia Pacific region. These applications are often built on modern technologies, which makes them easier to modernize than legacy applications.
The major players are HCL Technologies Limited, Oracle Corporation, Infosys Limited, DXC Technology Company, IBM Corporation, Cognizant, Accenture, Wipro, Tata Consultancy Services Ltd., Atos SE, and other players.
Infosys: In 26th April 2023, Infosys collaborated with LexisNexis, a data and analytics company to offer comprehensive information services for all of their content, business, and product applications. These services will offer life cycle upgrades, application modernization, application maintenance and support, application development and validation, and content modernization.
Wipro: In 28th October 2021, Wipro collaborated with Micro Focus and launched Legacy Migration and Modernization Lab collaborating with Amazon Web Services. The lab combines the technological know-how of Wipro, Micro Focus, and AWS to allow a cloud-ready IT ecosystem by assisting clients in becoming more flexible, lowering operating costs, and mitigating application modernization risks.
| Report Attributes | Details |
| Market Size in 2023 | US$ 17.82 Bn |
| Market Size by 2032 | US$ 77.14 Bn |
| CAGR | CAGR of 18.73% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Deployment Mode (Public Cloud, Private Cloud) • By Service Type (Application Integration, Application Portfolio Assessment, Cloud Application Migration, UI Modernization, Application Re-Platforming, Post-Modernization) • By Organization Size (Large Enterprises, Small and Medium Enterprises) • By Industry Verticals (Energy and Utilities, IT and ITeS, Retail and Consumer Goods, Government and Public Sector, Manufacturing, BFSI, Telecommunication & Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | HCL Technologies Limited, Oracle Corporation, Infosys Limited, DXC Technology Company, IBM Corporation, Cognizant, Accenture, Wipro, Tata Consultancy Services Ltd., Atos SE |
| Key Drivers | • Growing adoption of mobile services is one of the prime factors driving the development and popularity of the application modernization services market • The increasing use of artificial intelligence |
| Market Restraints | • The risk of disruption |
Ans. The Application Modernization Services Market will grow at a CAGR of 18.73% From 2024 to 2032.
Ans. The Application Modernization Services Market size was valued at USD 17.82 billion in 2023.
Ans. The key players profiled in the report include HCL Technologies Limited, Oracle Corporation, Infosys Limited, DXC Technology Company, IBM Corporation, Cognizant, Accenture, Wipro, Tata Consultancy Services Ltd., Atos SE
Ans. Increase in integration of cloud and DevOps technology in application modernization and rise in demand for improved software functionalities are driving the growth of this market. In addition, rise in government support for promoting the use of application modernization services is fueling the market growth.
Ans. The key growth strategies of Application modernization services market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Ukraine- Russia War
4.2 Impact of Recession
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Application Modernization Services Market Segmentation, By Deployment Mode
8.1 Public Cloud
8.2 Private Cloud
9. Application Modernization Services Market Segmentation, By Service Type
9.1 Application Integration
9.2 Application Portfolio Assessment
9.3 Cloud Application Migration
9.4 UI Modernization
9.5 Application Re-Platforming
9.6 Post-Modernization
10. Application Modernization Services Market Segmentation, By Organization Size
10.1 Large Enterprises
10.2 Small and Medium Enterprises
11. Application Modernization Services Market Segmentation, By Industry Verticals
11.1 Energy and Utilities
11.2 IT and ITeS
11.3 Retail and Consumer Goods
11.4 Government and Public Sector
11.5 Manufacturing
11.6 BFSI
11.7 Telecommunication
11.8 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Application Modernization Services Market by Country
12.2.2North America Application Modernization Services Market by Component
12.2.3 North America Application Modernization Services Market by Function
12.2.4 North America Application Modernization Services Market by Organization Size
12.2.5 North America Application Modernization Services Market by End-User
12.2.6 USA
12.2.6.1 USA Application Modernization Services Market by Component
12.2.6.2 USA Application Modernization Services Market by Function
12.2.6.3 USA Application Modernization Services Market by Organization Size
12.2.6.4 USA Application Modernization Services Market by End-User
12.2.7 Canada
12.2.7.1 Canada Application Modernization Services Market by Component
12.2.7.2 Canada Application Modernization Services Market by Function
12.2.7.3 Canada Application Modernization Services Market by Organization Size
12.2.7.4 Canada Application Modernization Services Market by End-User
12.2.8 Mexico
12.2.8.1 Mexico Application Modernization Services Market by Component
12.2.8.2 Mexico Application Modernization Services Market by Function
12.2.8.3 Mexico Application Modernization Services Market by Organization Size
12.2.8.4 Mexico Application Modernization Services Market by End-User
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Application Modernization Services Market by Country
12.3.1.2 Eastern Europe Application Modernization Services Market by Component
12.3.1.3 Eastern Europe Application Modernization Services Market by Function
12.3.1.4 Eastern Europe Application Modernization Services Market by Organization Size
12.3.1.5 Eastern Europe Application Modernization Services Market by End-User
12.3.1.6 Poland
12.3.1.6.1 Poland Application Modernization Services Market by Component
12.3.1.6.2 Poland Application Modernization Services Market by Function
12.3.1.6.3 Poland Application Modernization Services Market by Organization Size
12.3.1.6.4 Poland Application Modernization Services Market by End-User
12.3.1.7 Romania
12.3.1.7.1 Romania Application Modernization Services Market by Component
12.3.1.7.2 Romania Application Modernization Services Market by Function
12.3.1.7.3 Romania Application Modernization Services Market by Organization Size
12.3.1.7.4 Romania Application Modernization Services Market by End-User
12.3.1.8 Hungary
12.3.1.8.1 Hungary Application Modernization Services Market by Component
12.3.1.8.2 Hungary Application Modernization Services Market by Function
12.3.1.8.3 Hungary Application Modernization Services Market by Organization Size
12.3.1.8.4 Hungary Application Modernization Services Market by End-User
12.3.1.9 Turkey
12.3.1.9.1 Turkey Application Modernization Services Market by Component
12.3.1.9.2 Turkey Application Modernization Services Market by Function
12.3.1.9.3 Turkey Application Modernization Services Market by Organization Size
12.3.1.9.4 Turkey Application Modernization Services Market by End-User
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Application Modernization Services Market by Component
12.3.1.10.2 Rest of Eastern Europe Application Modernization Services Market by Function
12.3.1.10.3 Rest of Eastern Europe Application Modernization Services Market by Organization Size
12.3.1.10.4 Rest of Eastern Europe Application Modernization Services Market by End-User
12.3.2 Western Europe
12.3.2.1 Western Europe Application Modernization Services Market by Country
12.3.2.2 Western Europe Application Modernization Services Market by Component
12.3.2.3 Western Europe Application Modernization Services Market by Function
12.3.2.4 Western Europe Application Modernization Services Market by Organization Size
12.3.2.5 Western Europe Application Modernization Services Market by End-User
12.3.2.6 Germany
12.3.2.6.1 Germany Application Modernization Services Market by Component
12.3.2.6.2 Germany Application Modernization Services Market by Function
12.3.2.6.3 Germany Application Modernization Services Market by Organization Size
12.3.2.6.4 Germany Application Modernization Services Market by End-User
12.3.2.7 France
12.3.2.7.1 France Application Modernization Services Market by Component
12.3.2.7.2 France Application Modernization Services Market by Function
12.3.2.7.3 France Application Modernization Services Market by Organization Size
12.3.2.7.4 France Application Modernization Services Market by End-User
12.3.2.8 UK
12.3.2.8.1 UK Application Modernization Services Market by Component
12.3.2.8.2 UK Application Modernization Services Market by Function
12.3.2.8.3 UK Application Modernization Services Market by Organization Size
12.3.2.8.4 UK Application Modernization Services Market by End-User
12.3.2.9 Italy
12.3.2.9.1 Italy Application Modernization Services Market by Component
12.3.2.9.2 Italy Application Modernization Services Market by Function
12.3.2.9.3 Italy Application Modernization Services Market by Organization Size
12.3.2.9.4 Italy Application Modernization Services Market by End-User
12.3.2.10 Spain
12.3.2.10.1 Spain Application Modernization Services Market by Component
12.3.2.10.2 Spain Application Modernization Services Market by Function
12.3.2.10.3 Spain Application Modernization Services Market by Organization Size
12.3.2.10.4 Spain Application Modernization Services Market by End-User
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Application Modernization Services Market by Component
12.3.2.11.2 Netherlands Application Modernization Services Market by Function
12.3.2.11.3 Netherlands Application Modernization Services Market by Organization Size
12.3.2.11.4 Netherlands Application Modernization Services Market by End-User
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Application Modernization Services Market by Component
12.3.2.12.2 Switzerland Application Modernization Services Market by Function
12.3.2.12.3 Switzerland Application Modernization Services Market by Organization Size
12.3.2.12.4 Switzerland Application Modernization Services Market by End-User
12.3.2.13 Austria
12.3.2.13.1 Austria Application Modernization Services Market by Component
12.3.2.13.2 Austria Application Modernization Services Market by Function
12.3.2.13.3 Austria Application Modernization Services Market by Organization Size
12.3.2.13.4 Austria Application Modernization Services Market by End-User
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Application Modernization Services Market by Component
12.3.2.14.2 Rest of Western Europe Application Modernization Services Market by Function
12.3.2.14.3 Rest of Western Europe Application Modernization Services Market by Organization Size
12.3.2.14.4 Rest of Western Europe Application Modernization Services Market by End-User
12.4 Asia-Pacific
12.4.1 Asia Pacific Application Modernization Services Market by Country
12.4.2 Asia Pacific Application Modernization Services Market by Component
12.4.3 Asia Pacific Application Modernization Services Market by Function
12.4.4 Asia Pacific Application Modernization Services Market by Organization Size
12.4.5 Asia Pacific Application Modernization Services Market by End-User
12.4.6 China
12.4.6.1 China Application Modernization Services Market by Component
12.4.6.2 China Application Modernization Services Market by Function
12.4.6.3 China Application Modernization Services Market by Organization Size
12.4.6.4 China Application Modernization Services Market by End-User
12.4.7 India
12.4.7.1 India Application Modernization Services Market by Component
12.4.7.2 India Application Modernization Services Market by Function
12.4.7.3 India Application Modernization Services Market by Organization Size
12.4.7.4 India Application Modernization Services Market by End-User
12.4.8 Japan
12.4.8.1 Japan Application Modernization Services Market by Component
12.4.8.2 Japan Application Modernization Services Market by Function
12.4.8.3 Japan Application Modernization Services Market by Organization Size
12.4.8.4 Japan Application Modernization Services Market by End-User
12.4.9 South Korea
12.4.9.1 South Korea Application Modernization Services Market by Component
12.4.9.2 South Korea Application Modernization Services Market by Function
12.4.9.3 South Korea Application Modernization Services Market by Organization Size
12.4.9.4 South Korea Application Modernization Services Market by End-User
12.4.10 Vietnam
12.4.10.1 Vietnam Application Modernization Services Market by Component
12.4.10.2 Vietnam Application Modernization Services Market by Function
12.4.10.3 Vietnam Application Modernization Services Market by Organization Size
12.4.10.4 Vietnam Application Modernization Services Market by End-User
12.4.11 Singapore
12.4.11.1 Singapore Application Modernization Services Market by Component
12.4.11.2 Singapore Application Modernization Services Market by Function
12.4.11.3 Singapore Application Modernization Services Market by Organization Size
12.4.11.4 Singapore Application Modernization Services Market by End-User
12.4.12 Australia
12.4.12.1 Australia Application Modernization Services Market by Component
12.4.12.2 Australia Application Modernization Services Market by Function
12.4.12.3 Australia Application Modernization Services Market by Organization Size
12.4.12.4 Australia Application Modernization Services Market by End-User
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Application Modernization Services Market by Component
12.4.13.2 Rest of Asia-Pacific Application Modernization Services Market by Function
12.4.13.3 Rest of Asia-Pacific Application Modernization Services Market by Organization Size
12.4.13.4 Rest of Asia-Pacific Application Modernization Services Market by End-User
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Application Modernization Services Market by Country
12.5.1.2 Middle East Application Modernization Services Market by Component
12.5.1.3 Middle East Application Modernization Services Market by Function
12.5.1.4 Middle East Application Modernization Services Market by Organization Size
12.5.1.5 Middle East Application Modernization Services Market by End-User
12.5.1.6 UAE
12.5.1.6.1 UAE Application Modernization Services Market by Component
12.5.1.6.2 UAE Application Modernization Services Market by Function
12.5.1.6.3 UAE Application Modernization Services Market by Organization Size
12.5.1.6.4 UAE Application Modernization Services Market by End-User
12.5.1.7 Egypt
12.5.1.7.1 Egypt Application Modernization Services Market by Component
12.5.1.7.2 Egypt Application Modernization Services Market by Function
12.5.1.7.3 Egypt Application Modernization Services Market by Organization Size
12.5.1.7.4 Egypt Application Modernization Services Market by End-User
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Application Modernization Services Market by Component
12.5.1.8.2 Saudi Arabia Application Modernization Services Market by Function
12.5.1.8.3 Saudi Arabia Application Modernization Services Market by Organization Size
12.5.1.8.4 Saudi Arabia Application Modernization Services Market by End-User
12.5.1.9 Qatar
12.5.1.9.1 Qatar Application Modernization Services Market by Component
12.5.1.9.2 Qatar Application Modernization Services Market by Function
12.5.1.9.3 Qatar Application Modernization Services Market by Organization Size
12.5.1.9.4 Qatar Application Modernization Services Market by End-User
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Application Modernization Services Market by Component
12.5.1.10.2 Rest of Middle East Application Modernization Services Market by Function
12.5.1.10.3 Rest of Middle East Application Modernization Services Market by Organization Size
12.5.1.10.4 Rest of Middle East Application Modernization Services Market by End-User
12.5.2. Africa
12.5.2.1 Africa Application Modernization Services Market by Country
12.5.2.2 Africa Application Modernization Services Market by Component
12.5.2.3 Africa Application Modernization Services Market by Function
12.5.2.4 Africa Application Modernization Services Market by Organization Size
12.5.2.5 Africa Application Modernization Services Market by End-User
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Application Modernization Services Market by Component
12.5.2.6.2 Nigeria Application Modernization Services Market by Function
12.5.2.6.3 Nigeria Application Modernization Services Market by Organization Size
12.5.2.6.4 Nigeria Application Modernization Services Market by End-User
12.5.2.7 South Africa
12.5.2.7.1 South Africa Application Modernization Services Market by Component
12.5.2.7.2 South Africa Application Modernization Services Market by Function
12.5.2.7.3 South Africa Application Modernization Services Market by Organization Size
12.5.2.7.4 South Africa Application Modernization Services Market by End-User
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Application Modernization Services Market by Component
12.5.2.8.2 Rest of Africa Application Modernization Services Market by Function
12.5.2.8.3 Rest of Africa Application Modernization Services Market by Organization Size
12.5.2.8.4 Rest of Africa Application Modernization Services Market by End-User
12.6. Latin America
12.6.1 Latin America Application Modernization Services Market by Country
12.6.2 Latin America Application Modernization Services Market by Component
12.6.3 Latin America Application Modernization Services Market by Function
12.6.4 Latin America Application Modernization Services Market by Organization Size
12.6.5 Latin America Application Modernization Services Market by End-User
12.6.6 Brazil
12.6.6.1 Brazil Application Modernization Services Market by Component
12.6.6.2 Brazil Africa Application Modernization Services Market by Function
12.6.6.3 Brazil Application Modernization Services Market by Organization Size
12.6.6.4 Brazil Application Modernization Services Market by End-User
12.6.7 Argentina
12.6.7.1 Argentina Application Modernization Services Market by Component
12.6.7.2 Argentina Application Modernization Services Market by Function
12.6.7.3 Argentina Application Modernization Services Market by Organization Size
12.6.7.4 Argentina Application Modernization Services Market by End-User
12.6.8 Colombia
12.6.8.1 Colombia Application Modernization Services Market by Component
12.6.8.2 Colombia Application Modernization Services Market by Function
12.6.8.3 Colombia Application Modernization Services Market by Organization Size
12.6.8.4 Colombia Application Modernization Services Market by End-User
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Application Modernization Services Market by Component
12.6.9.2 Rest of Latin America Application Modernization Services Market by Function
12.6.9.3 Rest of Latin America Application Modernization Services Market by Organization Size
12.6.9.4 Rest of Latin America Application Modernization Services Market by End-User
13. Company profile
13.1 HCL Technologies Limited
13.1.1 Company Overview
13.1.2 Financials
13.1.3Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Oracle Corporation
13.2.1 Company Overview
13.2.2 Financials
13.2.3Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Infosys Limited
13.3.1 Company Overview
13.3.2 Financials
13.3.3Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 DXC Technology Company
13.4.1 Company Overview
13.4.2 Financials
13.4.3Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 IBM Corporation
13.5.1 Company Overview
13.5.2 Financials
13.5.3Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Cognizant
13.6.1 Company Overview
13.6.2 Financials
13.6.3Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Accenture
13.7.1 Company Overview
13.7.2 Financials
13.7.3Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Wipro
13.8.1 Company Overview
13.8.2 Financial
13.8.3Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Tata Consultancy Services Ltd
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Product/Service/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Atos SE
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/Service/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Company Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
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Data Center Networking Market was worth USD 27.37 billion in 2023 and is predicted to be worth USD 76.87 billion by 2032, growing at a CAGR of 12.19% between 2024 and 2032.
The Web Real-Time Communication Market size was valued at USD 7.3 billion in 2023 and is expected to reach USD 128.2 Billion by 2032, growing at a CAGR of 37.51% over the forecast period of 2024-2032.
The Edge Computing Market size was valued at USD 16.21 Billion in 2023 and is expected to reach USD 245.30 Billion in 2032 and grow at a CAGR of 35.24% over the forecast period 2024-2032.
The Web Content Management (WCM) Market was valued at USD 9.26 billion in 2023 and is anticipated to reach USD 34.94 billion by 2032, expanding at a robust CAGR of 15.90% over the forecast period from 2024 to 2032.
The India Capability Centers Market will reach USD 149.31 bn by 2032 and was valued at USD 38.03 bn in 2023. The estimated CAGR is 14.61% for 2024-2032.
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