Application Modernization Services Market Size, Share, Growth Analysis, By Vertical(Healthcare, IT, Telecommunication, Energy and utilities), By Deployment Type(Hybrid Cloud, Private Cloud and Public Cloud), By Application(Post Modernization, Application Portfolio Assignment, UI Modernization, Cloud Application Mitigation), By Region - Industry Forecast 2024-2031

Global Application Modernization Services Market Drivers

Growing Complexity of Legacy Applications

• Legacy applications can be complex and difficult to maintain, update, and integrate with modern technologies. Application modernization services can help simplify and streamline legacy applications and make them more compatible with modern platforms.

Increasing Demand for Cloud-based Solutions

• The demand for cloud-based solutions is growing, as companies seek to improve scalability, flexibility, and security while reducing costs. Application modernization services can help companies to modernize their legacy applications and make them cloud-ready.

Global Application Modernization Services Market Restraints

Security Concerns

• Security is a major concern for companies looking to modernize their legacy applications. Modernization services may introduce new security risks, which need to be carefully managed and addressed. This, in turn, may impact the overall growth of this market in the forecast period.

Lack of Skilled Professionals

• There is a shortage of skilled professionals who can help companies modernize their legacy applications. This can make it difficult for companies to find the right expertise and resources to complete their modernization projects.