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The Application Modernization Services Market was valued at USD 17.49 billion in 2023 and is expected to reach USD 67.87 billion by 2032, growing at a CAGR of 16.32% from 2024-2032.
Application modernization services focus on updating legacy systems to align with current business needs, leveraging cloud, microservices, containers, and DevOps practices. These services ensure agility, scalability, and maintainability.
Market Analysis
Legacy systems limit innovation. Businesses are turning to modernization to improve performance, reduce costs, and accelerate digital transformation. IT service providers are offering consulting, migration, re-platforming, and refactoring services.
Market Opportunities
Opportunities exist in AI-driven assessment tools, automation of code refactoring, and low-code platforms. Sectors like BFSI, healthcare, and manufacturing are top adopters due to complex legacy infrastructure.
Market Key Factors
Key factors include risk mitigation, cost-effectiveness, minimal downtime, and alignment with business goals. Providers that ensure security, compliance, and quick ROI will succeed.
Conclusion
Modernizing applications is key to staying competitive. As cloud adoption rises, modernization services will continue to see robust demand.
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