Application modernization is the refactoring, re-purposing or consolidation of legacy software programming to align it more closely with current business needs.The goal of an application modernization project is to create new business value from existing applications. An application is a program designed to perform a specific function directly for the user or, in some cases, for another application program. Keeping legacy applications running smoothly can be a time-consuming, resource-intensive process, especially when the software becomes so outdated that it becomes incompatible with newer versions of the underlying operating system (OS) or system hardware.
Application Modernization Tools is mainly divided into three subdivisions: Emulation, Translation and Business rules extraction. And Emulation was the most widely used area which took up about 45.43% of the global total in 2017. However, in the further, Business rules extraction is growing fast and will occupy more share. By language, Application Modernization Services market can be divided into Cobol, ADA, PL/1, RPG, Assembler and PowerBuilder, Cobol is the largest subdivision with the market share of 63.32% in 2017.
United States is the largest consumption countries of Application Modernization Services in the world in the past few years and it will keep leader position in the next few years. United States market took up about 34.51% the global market in 2017, while Europe was about 30.70%.
United States is now the key developers of Application Modernization Services; most companies are in USA. Others are in Europe, Japan and India.
The global Application Modernization Services market is valued at 10400 million USD in 2018 and is expected to reach 25600 million USD by the end of 2024, growing at a CAGR of 16.3% between 2019 and 2024.
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The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Application Modernization Services.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.This report studies the Application Modernization Services market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Application Modernization Services market by product type and applications/end industries.
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