Application Modernization Services Market Size

Application Modernization Services Market Size

Application Modernization Services Market size was valued at USD 19.8 billion in 2022 and is projected to witness over 10% CAGR from 2023 to 2032.

The market growth is as many businesses are spending heavily on their IT budgets to maintain their outdated technology. Organizations are looking to switch from mainframe-based systems to distributed environments for reasons of cost savings. In order to compete and provide better services to their customers, many organizations must update their rigid legacy programs to more adaptive web infrastructures. The needs of other organizations for the integration of their legacy applications necessitate the use of web service technologies and service-oriented architectures. Organizations need to ensure that their software can be modified and upgraded as per requirements along with technology development.
 

The absence of sufficient skills and proper knowledge are some of the key barriers to modernizing apps. There are several reasons for this, some of which include the fact that the original programmers are no longer employed by the company or working on the same project, the lack of or outdatedness of technical documentation, the inaccessibility of external resources or libraries, and the extensive rewriting of the source code. The presence of various older programs, the emergence of open standards for software development, the expansion of Kubernetes, and containerization are all opportunities.