Application Transformation Market Outlook

The global application transformation market was valued at US$ 12.1 Billion in 2021, and is projected to register a Y-o-Y increase of 11.6% in 2022 to be valued at US$ 13.5 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 10% value CAGR, likely to reach US$ 34.9 Billion by the end of the said forecast period.

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Key Segments Covered in the Application Transformation Industry Report

• Application Transformation by Organization Size

  • Application Transformation for SMEs
  • Application Transformation for Large Enterprises

• Application Transformation by Vertical

  • Application Transformation for Retail
  • Application Transformation for BFSI
  • Application Transformation for Healthcare
  • Application Transformation for IT & Telecom
  • Application Transformation for Government
  • Application Transformation for Manufacturing
  • Application Transformation for Other Verticals

• Application Transformation by Service

  • Application Portfolio Assessment
  • Cloud Application Migration
  • Application Re-Platforming
  • Application Integration
  • UI Application Modernization
  • Post Modernization Application Transformation

• Application Transformation by Region

  • North America Application Transformation Market
  • Latin America Application Transformation Market
  • Europe Application Transformation Market
  • Asia Pacific Application Transformation Market
  • Middle East & Africa Application Transformation Market

Competitive Landscape

The global market for application transformation is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.

• In April 2022, Fujitsu Limited introduced its Fujitsu Computing as a Service (CaaS) portfolio. This service will accelerate digital transformation and empower customers globally by offering access to some of the world’s most advanced computing technologies via the cloud for commercial use. This encompasses Fujitsu’s Digital Annealer quantum technology and software applications to solve AI and ML issues
• In December 2021, Cognizant acquired Devbridge, a privately owned software consultancy and product development company in Chicago. The acquisition expanded Cognizant’s software product engineering capabilities and global delivery footprint by adding over 600 engineers, designers and product managers across multiple countries
• Atos has announced recently in April 2022 that it intends to forge a 5-year contractual agreement to deliver managed services for digital operations, applications and cybersecurity for Independent Health (IH). Atos’ operational solutions will leverage infrastructure and digital platforms to optimize operating costs and generate efficiencies across the business landscape.