Application Modernization Services Market
Application Modernization Services Market Forecasts to 2030 - Global Analysis By Service Type (Application Integration, Application Portfolio Assignment, Application Re-platforming, Post Modernisation and Other Service Types), Deployment Type (Public Cloud, Private Cloud and Hybrid Cloud), Enterprise Size (Small & Medium-sized Enterprises and Large Enterprises), End User and By Geography
According to Stratistics MRC, the Global Application Modernization Services Market is accounted for $21.2 billion in 2024 and is expected to reach $59.8 billion by 2030 growing at a CAGR of 18.9% during the forecast period. Application Modernization Services involve updating and transforming legacy applications to enhance performance, scalability, and user experience. This process typically includes migrating applications to cloud environments, re-architecting them using microservices, and adopting modern development practices like Agile and DevOps. By integrating new technologies, such as artificial intelligence and machine learning, organizations can improve functionality and responsiveness to changing business needs.
According to a McKinsey analysis, governments worldwide are boosting their digital transformation initiatives, with spending estimated to exceed USD 1 trillion by 2025.
Market Dynamics:
Driver:
Rising digital transformation initiatives
Rising digital transformation initiatives are substantially enhancing Application Modernization Services by driving organizations to adopt more agile, cloud-based and scalable solutions. As businesses increasingly prioritize speed and efficiency, modernizing legacy applications becomes essential for staying competitive. This transformation involves re-engineering existing software to leverage contemporary technologies, such as microservices, containerization, and serverless architectures. By integrating these modern approaches, companies can improve application performance, enhance user experiences, and reduce operational costs.
Restraint:
Compliance and regulatory issues
Compliance and regulatory issues pose significant challenges to Application Modernization Services, hindering organizations from effectively updating their systems. As businesses seek to modernize their applications to enhance efficiency and innovation, they often encounter complex regulatory frameworks that vary by industry and geography. These regulations, which include data protection laws like GDPR and industry-specific compliance requirements, can restrict the use of certain technologies or necessitate additional security measures. This not only complicates the modernization process but can also lead to increased costs and extended timelines.
Opportunity:
Surge in adoption of mobile services
As consumers increasingly rely on mobile devices for daily activities, organizations must ensure their applications are not only accessible but also optimized for mobile performance and user experience. This shift compels companies to modernize their existing applications by integrating cloud technologies, microservices architecture, and responsive design principles. Such modernization allows for greater scalability, faster deployment cycles and improved security features. Moreover, with the rise of mobile-first strategies, businesses can leverage advanced analytics and user feedback to refine their applications continuously.
Threat:
Data security concerns
Data security concerns are a significant barrier to effective application modernization services. As organizations strive to upgrade their legacy systems to more agile, cloud-based architectures, they face increasing risks associated with data breaches, compliance violations, and unauthorized access. Sensitive information, often embedded in outdated applications, poses a challenge during migration processes. The integration of new technologies can inadvertently expose vulnerabilities, making it critical for businesses to implement robust security measures. However, companies must invest in advanced encryption, identity management, and continuous monitoring to safeguard data throughout the modernization journey.
Covid-19 Impact:
The COVID-19 pandemic significantly accelerated the demand for application modernization services as organizations sought to adapt to rapid digital transformation. With remote work becoming the norm, businesses needed agile, scalable and secure applications to support their operations and enhance customer experiences. Many legacy systems proved inadequate for the sudden shift to online services, prompting companies to invest in cloud-based solutions and modern application architectures. This shift not only improved operational efficiency but also facilitated better data integration and analytics capabilities. However, the crisis highlighted the importance of resilience and adaptability in technology strategies, leading organizations to prioritize modernization efforts to future-proof their operations.
The Application Re-platforming segment is expected to be the largest during the forecast period
Application Re-platforming segment is expected to dominate the largest share over the estimated period, which focuses on updating existing applications to leverage modern platforms and technologies while minimizing disruption. This process involves moving applications from legacy systems to more flexible cloud environments or contemporary architectures, such as microservices or serverless computing. By re-platforming, organizations can improve scalability, performance, and maintainability, enabling faster deployment of new features and services. This transition often involves re-architecting certain components without a complete overhaul, allowing businesses to retain valuable functionality while enhancing their applications’ responsiveness to market changes.
The Automotive segment is expected to have the highest CAGR during the forecast period
Automotive segment is estimated to grow at a rapid pace during the forecast period. As vehicles become more connected and integrated with software solutions, the need for modernized applications that can support functionalities like advanced driver-assistance systems (ADAS), vehicle-to-everything (V2X) communication, and over-the-air (OTA) updates has surged. By leveraging cloud computing, artificial intelligence, and big data analytics, automotive companies are transforming legacy systems into agile, scalable platforms that enhance operational efficiency and improve the customer experience. This modernization not only facilitates real-time data processing and predictive maintenance but also enables automakers to innovate faster and respond to market changes more effectively.
Region with largest share:
North America region is poised to hold the largest share of the market throughout the extrapolated period as it streamline operations and improve efficiency. By connecting outdated systems with modern technologies, businesses can leverage existing investments while adopting innovative solutions. This integration allows for better data accessibility, real-time analytics, and improved user experiences. Companies can replace siloed processes with seamless workflows, fostering collaboration and agility.
Region with highest CAGR:
Europe region is estimated to witness the highest CAGR during the projected time frame by promoting standards that ensure data security, privacy, and interoperability. Initiatives such as the General Data Protection Regulation (GDPR) compel organizations to modernize their applications to comply with stringent data handling requirements. This drives businesses to adopt cloud technologies and microservices architectures that enhance agility and scalability. The European Union's focus on fostering a digital single market further stimulates innovation, as businesses must adapt their applications to operate seamlessly across borders.
Key players in the market
Some of the key players in Application Modernization Services market include Accenture, Capgemini, Cognizant, Deloitte, HCL Technologies Limited, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, NTT DATA Corporation, Oracle Corporation, Tata Consultancy Services Limited, Tech Mahindra Limited and Wipro Limited.
Key Developments:
In January 2024, AveriSource launched the AveriSource Platform 2.0, a solution for analyzing and modernizing applications. This version offers enterprises an enhanced user experience whether they are transitioning from mainframe to cloud or accelerating their modernization efforts. Featuring visually appealing and interactive dashboards, along with comprehensive reporting and analytics, the AveriSource Platform 2.0 provides intelligent guidance throughout every stage of the application modernization process.
In January 2024, IBM Corporation acquired application modernization capabilities from Advanced, increasing IBM Consulting's offerings in mainframe application and data modernization services. The acquisition is intended to enhance IBM's ability to provide a comprehensive range of options for modernizing mainframe applications, aligning with the abilities of IBM Watsonx Code Assistant for Z, a generative AI-assisted tool designed to expedite mainframe application modernization.
In November 2023, Rocket Software acquired OpenText's Application Modernization and Connectivity business (AMC). AMC offers top-tier tools such as COBOL and host connectivity. These tools enable organizations to utilize their core applications and provide adaptability for modernization, enabling them to operate applications in various environments. Through this acquisition, Rocket Software expands its modernization portfolio to better cater to customer needs, whether on-premises or via a hybrid cloud approach.
In November 2023, Kyndryl collaborated with Amazon Web Services (AWS) to streamline customers' efforts in modernizing their mainframe systems. Furthermore, Kyndryl's integration of AWS services with its Kyndryl Bridge open integration platform offers real-time visibility into operational data. This integration facilitates improved planning, utilization, and understanding of mainframe applications and data in the cloud, thereby enhancing overall business outcomes.
Service Types Covered:
• Application Integration
• Application Portfolio Assignment
• Application Re-platforming
• Post Modernisation
• Other Service Types
Deployment Types Covered:
• Public Cloud
• Private Cloud
• Hybrid Cloud
Enterprise Sizes Covered:
• Small & Medium-sized Enterprises
• Large Enterprises
End Users Covered:
• Automotive
• Banking, Financial Services and Insurance
• Consumer Goods and Retail
• Energy and Utilities
• Healthcare
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Application Modernization Services Market, By Service Type
5.1 Introduction
5.2 Application Integration
5.3 Application Portfolio Assignment
5.4 Application Re-platforming
5.5 Post Modernisation
5.6 Other Service Types
6 Global Application Modernization Services Market, By Deployment Type
6.1 Introduction
6.2 Public Cloud
6.3 Private Cloud
6.4 Hybrid Cloud
7 Global Application Modernization Services Market, By Enterprise Size
7.1 Introduction
7.2 Small & Medium-sized Enterprises
7.3 Large Enterprises
8 Global Application Modernization Services Market, By End User
8.1 Introduction
8.2 Automotive
8.3 Banking, Financial Services and Insurance
8.4 Consumer Goods and Retail
8.5 Energy and Utilities
8.6 Healthcare
8.7 Other End Users
9 Global Application Modernization Services Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Accenture
11.2 Capgemini
11.3 Cognizant
11.4 Deloitte
11.5 HCL Technologies Limited
11.6 Infosys Limited
11.7 International Business Machines Corporation
11.8 Microsoft Corporation
11.9 NTT DATA Corporation
11.10 Oracle Corporation
11.11 Tata Consultancy Services Limited
11.12 Tech Mahindra Limited
11.13 Wipro Limited
List of Tables
1 Global Application Modernization Services Market Outlook, By Region (2022-2030) ($MN)
2 Global Application Modernization Services Market Outlook, By Service Type (2022-2030) ($MN)
3 Global Application Modernization Services Market Outlook, By Application Integration (2022-2030) ($MN)
4 Global Application Modernization Services Market Outlook, By Application Portfolio Assignment (2022-2030) ($MN)
5 Global Application Modernization Services Market Outlook, By Application Re-platforming (2022-2030) ($MN)
6 Global Application Modernization Services Market Outlook, By Post Modernisation (2022-2030) ($MN)
7 Global Application Modernization Services Market Outlook, By Other Service Types (2022-2030) ($MN)
8 Global Application Modernization Services Market Outlook, By Deployment Type (2022-2030) ($MN)
9 Global Application Modernization Services Market Outlook, By Public Cloud (2022-2030) ($MN)
10 Global Application Modernization Services Market Outlook, By Private Cloud (2022-2030) ($MN)
11 Global Application Modernization Services Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
12 Global Application Modernization Services Market Outlook, By Enterprise Size (2022-2030) ($MN)
13 Global Application Modernization Services Market Outlook, By Small & Medium-sized Enterprises (2022-2030) ($MN)
14 Global Application Modernization Services Market Outlook, By Large Enterprises (2022-2030) ($MN)
15 Global Application Modernization Services Market Outlook, By End User (2022-2030) ($MN)
16 Global Application Modernization Services Market Outlook, By Automotive (2022-2030) ($MN)
17 Global Application Modernization Services Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
18 Global Application Modernization Services Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
19 Global Application Modernization Services Market Outlook, By Energy and Utilities (2022-2030) ($MN)
20 Global Application Modernization Services Market Outlook, By Healthcare (2022-2030) ($MN)
21 Global Application Modernization Services Market Outlook, By Other End Users (2022-2030) ($MN)
22 North America Application Modernization Services Market Outlook, By Country (2022-2030) ($MN)
23 North America Application Modernization Services Market Outlook, By Service Type (2022-2030) ($MN)
24 North America Application Modernization Services Market Outlook, By Application Integration (2022-2030) ($MN)
25 North America Application Modernization Services Market Outlook, By Application Portfolio Assignment (2022-2030) ($MN)
26 North America Application Modernization Services Market Outlook, By Application Re-platforming (2022-2030) ($MN)
27 North America Application Modernization Services Market Outlook, By Post Modernisation (2022-2030) ($MN)
28 North America Application Modernization Services Market Outlook, By Other Service Types (2022-2030) ($MN)
29 North America Application Modernization Services Market Outlook, By Deployment Type (2022-2030) ($MN)
30 North America Application Modernization Services Market Outlook, By Public Cloud (2022-2030) ($MN)
31 North America Application Modernization Services Market Outlook, By Private Cloud (2022-2030) ($MN)
32 North America Application Modernization Services Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
33 North America Application Modernization Services Market Outlook, By Enterprise Size (2022-2030) ($MN)
34 North America Application Modernization Services Market Outlook, By Small & Medium-sized Enterprises (2022-2030) ($MN)
35 North America Application Modernization Services Market Outlook, By Large Enterprises (2022-2030) ($MN)
36 North America Application Modernization Services Market Outlook, By End User (2022-2030) ($MN)
37 North America Application Modernization Services Market Outlook, By Automotive (2022-2030) ($MN)
38 North America Application Modernization Services Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
39 North America Application Modernization Services Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
40 North America Application Modernization Services Market Outlook, By Energy and Utilities (2022-2030) ($MN)
41 North America Application Modernization Services Market Outlook, By Healthcare (2022-2030) ($MN)
42 North America Application Modernization Services Market Outlook, By Other End Users (2022-2030) ($MN)
43 Europe Application Modernization Services Market Outlook, By Country (2022-2030) ($MN)
44 Europe Application Modernization Services Market Outlook, By Service Type (2022-2030) ($MN)
45 Europe Application Modernization Services Market Outlook, By Application Integration (2022-2030) ($MN)
46 Europe Application Modernization Services Market Outlook, By Application Portfolio Assignment (2022-2030) ($MN)
47 Europe Application Modernization Services Market Outlook, By Application Re-platforming (2022-2030) ($MN)
48 Europe Application Modernization Services Market Outlook, By Post Modernisation (2022-2030) ($MN)
49 Europe Application Modernization Services Market Outlook, By Other Service Types (2022-2030) ($MN)
50 Europe Application Modernization Services Market Outlook, By Deployment Type (2022-2030) ($MN)
51 Europe Application Modernization Services Market Outlook, By Public Cloud (2022-2030) ($MN)
52 Europe Application Modernization Services Market Outlook, By Private Cloud (2022-2030) ($MN)
53 Europe Application Modernization Services Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
54 Europe Application Modernization Services Market Outlook, By Enterprise Size (2022-2030) ($MN)
55 Europe Application Modernization Services Market Outlook, By Small & Medium-sized Enterprises (2022-2030) ($MN)
56 Europe Application Modernization Services Market Outlook, By Large Enterprises (2022-2030) ($MN)
57 Europe Application Modernization Services Market Outlook, By End User (2022-2030) ($MN)
58 Europe Application Modernization Services Market Outlook, By Automotive (2022-2030) ($MN)
59 Europe Application Modernization Services Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
60 Europe Application Modernization Services Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
61 Europe Application Modernization Services Market Outlook, By Energy and Utilities (2022-2030) ($MN)
62 Europe Application Modernization Services Market Outlook, By Healthcare (2022-2030) ($MN)
63 Europe Application Modernization Services Market Outlook, By Other End Users (2022-2030) ($MN)
64 Asia Pacific Application Modernization Services Market Outlook, By Country (2022-2030) ($MN)
65 Asia Pacific Application Modernization Services Market Outlook, By Service Type (2022-2030) ($MN)
66 Asia Pacific Application Modernization Services Market Outlook, By Application Integration (2022-2030) ($MN)
67 Asia Pacific Application Modernization Services Market Outlook, By Application Portfolio Assignment (2022-2030) ($MN)
68 Asia Pacific Application Modernization Services Market Outlook, By Application Re-platforming (2022-2030) ($MN)
69 Asia Pacific Application Modernization Services Market Outlook, By Post Modernisation (2022-2030) ($MN)
70 Asia Pacific Application Modernization Services Market Outlook, By Other Service Types (2022-2030) ($MN)
71 Asia Pacific Application Modernization Services Market Outlook, By Deployment Type (2022-2030) ($MN)
72 Asia Pacific Application Modernization Services Market Outlook, By Public Cloud (2022-2030) ($MN)
73 Asia Pacific Application Modernization Services Market Outlook, By Private Cloud (2022-2030) ($MN)
74 Asia Pacific Application Modernization Services Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
75 Asia Pacific Application Modernization Services Market Outlook, By Enterprise Size (2022-2030) ($MN)
76 Asia Pacific Application Modernization Services Market Outlook, By Small & Medium-sized Enterprises (2022-2030) ($MN)
77 Asia Pacific Application Modernization Services Market Outlook, By Large Enterprises (2022-2030) ($MN)
78 Asia Pacific Application Modernization Services Market Outlook, By End User (2022-2030) ($MN)
79 Asia Pacific Application Modernization Services Market Outlook, By Automotive (2022-2030) ($MN)
80 Asia Pacific Application Modernization Services Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
81 Asia Pacific Application Modernization Services Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
82 Asia Pacific Application Modernization Services Market Outlook, By Energy and Utilities (2022-2030) ($MN)
83 Asia Pacific Application Modernization Services Market Outlook, By Healthcare (2022-2030) ($MN)
84 Asia Pacific Application Modernization Services Market Outlook, By Other End Users (2022-2030) ($MN)
85 South America Application Modernization Services Market Outlook, By Country (2022-2030) ($MN)
86 South America Application Modernization Services Market Outlook, By Service Type (2022-2030) ($MN)
87 South America Application Modernization Services Market Outlook, By Application Integration (2022-2030) ($MN)
88 South America Application Modernization Services Market Outlook, By Application Portfolio Assignment (2022-2030) ($MN)
89 South America Application Modernization Services Market Outlook, By Application Re-platforming (2022-2030) ($MN)
90 South America Application Modernization Services Market Outlook, By Post Modernisation (2022-2030) ($MN)
91 South America Application Modernization Services Market Outlook, By Other Service Types (2022-2030) ($MN)
92 South America Application Modernization Services Market Outlook, By Deployment Type (2022-2030) ($MN)
93 South America Application Modernization Services Market Outlook, By Public Cloud (2022-2030) ($MN)
94 South America Application Modernization Services Market Outlook, By Private Cloud (2022-2030) ($MN)
95 South America Application Modernization Services Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
96 South America Application Modernization Services Market Outlook, By Enterprise Size (2022-2030) ($MN)
97 South America Application Modernization Services Market Outlook, By Small & Medium-sized Enterprises (2022-2030) ($MN)
98 South America Application Modernization Services Market Outlook, By Large Enterprises (2022-2030) ($MN)
99 South America Application Modernization Services Market Outlook, By End User (2022-2030) ($MN)
100 South America Application Modernization Services Market Outlook, By Automotive (2022-2030) ($MN)
101 South America Application Modernization Services Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
102 South America Application Modernization Services Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
103 South America Application Modernization Services Market Outlook, By Energy and Utilities (2022-2030) ($MN)
104 South America Application Modernization Services Market Outlook, By Healthcare (2022-2030) ($MN)
105 South America Application Modernization Services Market Outlook, By Other End Users (2022-2030) ($MN)
106 Middle East & Africa Application Modernization Services Market Outlook, By Country (2022-2030) ($MN)
107 Middle East & Africa Application Modernization Services Market Outlook, By Service Type (2022-2030) ($MN)
108 Middle East & Africa Application Modernization Services Market Outlook, By Application Integration (2022-2030) ($MN)
109 Middle East & Africa Application Modernization Services Market Outlook, By Application Portfolio Assignment (2022-2030) ($MN)
110 Middle East & Africa Application Modernization Services Market Outlook, By Application Re-platforming (2022-2030) ($MN)
111 Middle East & Africa Application Modernization Services Market Outlook, By Post Modernisation (2022-2030) ($MN)
112 Middle East & Africa Application Modernization Services Market Outlook, By Other Service Types (2022-2030) ($MN)
113 Middle East & Africa Application Modernization Services Market Outlook, By Deployment Type (2022-2030) ($MN)
114 Middle East & Africa Application Modernization Services Market Outlook, By Public Cloud (2022-2030) ($MN)
115 Middle East & Africa Application Modernization Services Market Outlook, By Private Cloud (2022-2030) ($MN)
116 Middle East & Africa Application Modernization Services Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
117 Middle East & Africa Application Modernization Services Market Outlook, By Enterprise Size (2022-2030) ($MN)
118 Middle East & Africa Application Modernization Services Market Outlook, By Small & Medium-sized Enterprises (2022-2030) ($MN)
119 Middle East & Africa Application Modernization Services Market Outlook, By Large Enterprises (2022-2030) ($MN)
120 Middle East & Africa Application Modernization Services Market Outlook, By End User (2022-2030) ($MN)
121 Middle East & Africa Application Modernization Services Market Outlook, By Automotive (2022-2030) ($MN)
122 Middle East & Africa Application Modernization Services Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
123 Middle East & Africa Application Modernization Services Market Outlook, By Consumer Goods and Retail (2022-2030) ($MN)
124 Middle East & Africa Application Modernization Services Market Outlook, By Energy and Utilities (2022-2030) ($MN)
125 Middle East & Africa Application Modernization Services Market Outlook, By Healthcare (2022-2030) ($MN)
126 Middle East & Africa Application Modernization Services Market Outlook, By Other End Users (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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