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Best Application Modernization Services 2022

Report Code: TC 5645 - 360K

Published Date: Oct 2025

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Comparing 65 vendors in Application Modernization Services across 81 criteria.

The Application Modernization Services market focuses on upgrading and transforming legacy applications to modern, cloud-enabled, and scalable platforms that support digital business strategies. Organizations across industries are increasingly modernizing their core systems to enhance agility, improve performance, strengthen security, and reduce operational costs. The market is driven by rapid cloud adoption, growing demand for microservices architecture, DevOps implementation, containerization, and API-led integration. Enterprises are shifting from monolithic systems to flexible, modular environments to enable faster innovation and better customer experiences. Rising investments in digital transformation initiatives and the integration of AI, automation, and analytics further accelerate market growth.

Businesses are also motivated by the need to comply with regulatory standards and mitigate risks associated with outdated infrastructure. Service offerings typically include application assessment, rehosting, refactoring, replatforming, rearchitecting, and managed services. Large enterprises dominate adoption due to complex IT landscapes, while small and medium-sized enterprises are increasingly leveraging cost-effective cloud solutions. North America holds a significant market share due to advanced IT infrastructure, while Asia-Pacific is emerging as a high-growth region driven by expanding technology investments. Competitive competition among global IT service providers encourages innovation and strategic partnerships. Overall, the market is expected to witness sustained growth as organizations prioritize resilient, scalable, and future-ready application environments.

The Application Modernization Services Market Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Application Modernization Services Market. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 250 companies, of which the Top 35 Companies were categorized and recognized as quadrant leaders.

The 360 Quadrant maps the Application Modernization Services Market companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Application Modernization Services Market quadrant. The top criteria for product footprint evaluation included By Service Type (Application Portfolio Assessment, Cloud Application Migration, Application Re-platforming, Application Integration, UI/UX Modernization, Post-modernization), By Application Type (Legacy Applications, Cloud-hosted Applications, Cloud-native Applications) and  By Vertical (BFSI, Healthcare & Life Sciences, Telecom, IT & ITeS, Retail & E-commerce, Government, Energy & Utilities, Transportation & Logistics, Media & Entertainment, Manufacturing, Other Verticals).

Key players in the Application Modernization Services Market include major global corporations and specialized innovators such as ACCENTURE, TCS, IBM, COGNIZANT, INFOSYS, CAPGEMINI, NTT DATA, HCL TECHNOLOGIES, MICROSOFT, WIPRO, LTIMINDTREE, EPAM SYSTEMS, ATOS, DXC TECHNOLOGY, FUJITSU, ORACLE, HEXAWARE TECHNOLOGIES, INNOVA SOLUTIONS, DELL TECHNOLOGIES, VIRTUSA, SIMFORM, ASPIRE SYSTEMS, MONGODB, CLOUDHEDGE TECHNOLOGIES PVT LTD, SOFTURA, ECHAHEAD, ICREON, BAYSHORE INTELLIGENCE SOLUTIONS, D3V TECHNOLOGY, OPINOV8, SYMPHONY SOLUTIONS, CLEVEROAD, GEOMOTIV, SOFT SUAVE, PALMDIGITALZ. These companies are actively investing in research and development, forming strategic partnerships, and engaging in collaborative initiatives to drive innovation, expand their global footprint, and maintain a competitive edge in this rapidly evolving market.

Top 3 Companies

Accenture

Accenture is a global professional services company specializing in digital transformation, cloud migration, and application modernization. It provides end-to-end services including legacy system transformation, cloud-native development, DevOps implementation, and AI-driven modernization strategies. Accenture partners with major cloud providers to help enterprises modernize complex IT landscapes across industries.

Tata Consultancy Services

Tata Consultancy Services (TCS) is one of the world’s leading IT services and consulting firms, offering comprehensive application modernization solutions. TCS focuses on replatforming, refactoring, microservices adoption, and cloud enablement to improve business agility and operational efficiency. It serves global clients across banking, healthcare, retail, and manufacturing sectors.

Simform

Simform is a digital product engineering company that provides cloud-native development and application modernization services. It helps businesses transform legacy applications into scalable, secure, and high-performing systems using modern frameworks, DevOps practices, and agile methodologies. Simform primarily supports startups, SMEs, and enterprise clients seeking cost-effective modernization solutions.
Market Leadership Quadrant
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    1.1 Study Objectives
    1.2 Market Definition
    1.3 Study Scope

        1.3.1 Market Segmentation and Regions Covered
        1.3.2 Inclusions & Exclusions

    1.4 Years Considered
    1.5 Currency Considered
    1.6 Stakeholders
    1.7 Summary of Changes
 

    2.1 Introduction
    2.2 Market Dynamics

        2.2.1 Drivers

            2.2.1.1 Rise in Digital Transformation Initiatives
            2.2.1.2 Demand for Flexibility and Scalability  Through Cloud
                    Computing
            2.2.1.3 Rapid Technological Advancements
            2.2.1.4 Shift Toward Modernization   By Cloud-native Technologies
            2.2.1.5 Stringent Regulatory Compliance   and Security

        2.2.2 Restraints

            2.2.2.1 High Costs and Complexity
            2.2.2.2 Legacy System Dependencies

        2.2.3 Opportunities

            2.2.3.1 Proliferation of Kubernetes and  Containerization
            2.2.3.2 Evolution of Open Standards for   Software Development
            2.2.3.3 Emerging Markets and SMEs
            2.2.3.4 Existence of Large Number of   Legacy Applications

        2.2.4 Challenges

            2.2.4.1 Vendor Lock-in and Platform  Dependencies
            2.2.4.2 Managing Technical Debt

    2.3 Evolution of Application Modernization Services
    2.4 Application Modernization Services: Ecosystem Analysis
    2.5 Supply Chain Analysis
    2.6 Porter’s Five Forces Analysis

        2.6.1 Threat of New Entrants
        2.6.2 Threat of Substitutes
        2.6.3 Bargaining Power of Buyers
        2.6.4 Bargaining Power of Suppliers
        2.6.5 Intensity of Competitive Rivalry

    2.7 Technology Analysis

        2.7.1 Key Technologies

            2.7.1.1 Cloud Platforms
            2.7.1.2 Containerization
            2.7.1.3 Devops Tools and CI/CD Pipelines
            2.7.1.4 Microservices Architecture
            2.7.1.5 API Management Platforms
            2.7.1.6 Low-code/No-code Platforms

        2.7.2 Adjacent Technologies

            2.7.2.1 Blockchain
            2.7.2.2 Quantum Computing
            2.7.2.3 Augmented Reality (AR) and Virtual  Reality (VR)

        2.7.3 Complementary Technologies

            2.7.3.1 AI/ML Integration
            2.7.3.2 Robotic Process Automation (RPA)
            2.7.3.3 Identity and Access Management (IAM)
            2.7.3.4 Data Lakes and Data Warehousing
            2.7.3.5 Enterprise Service Bus (ESB)

    2.8 Patent Analysis
    2.9 Trends/disruptions Impacting Customers’ Businesses
    2.10 Key Conferences and Events, 2025–2026
    2.11 Technology Roadmap for Application Modernization   Services Market

        2.11.1 Short-term Roadmap (2026–2027)
        2.11.2 Mid-term Roadmap (2028–2029)
        2.11.3 Long-term Roadmap (2030–2031)

    2.12 Best Practices in Application Modernization Services Market

        2.12.1 Conduct Thorough Assessment
        2.12.2 Define Clear Goals and Objectives
        2.12.3 Develop Modernization Roadmap
        2.12.4 Choose Right Modernization Approach
        2.12.5 Prioritize Applications for Modernization
        2.12.6 Optimize for Cloud
        2.12.7 Ensure Continuous Monitoring and Optimization
        2.12.8 Engage Stakeholders Throughout Process

    2.13 Current and Emerging Business Models

        2.13.1 Platform-as-a-Service (PaaS)
        2.13.2 Consultative Services Model
        2.13.3 Outcome-based Models
        2.13.4 Open-source Model
        2.13.5 Co-Development Model
        2.13.6 Automated Models

    2.14 Impact of Generative AI on Application Modernization  Services Market

        2.14.1 Impact of AI/generative AI on Application  Modernization Services
        2.14.2 Use Cases of Generative AI in Application  Modernization Services
        2.14.3 Best Practices

            2.14.3.1 BFSI Industry
            2.14.3.2 IT & ITeS Industry

    2.15 7‘R’s of Application Modernization

        2.15.1 Rehost
        2.15.2 Re-platform
        2.15.3 Refactor
        2.15.4 Revise
        2.15.5 Rebuild
        2.15.6 Replace
        2.15.7 Retire

    3.1 Introduction
    3.2 Key Player Strategies/Right to Win, 2022-2025
    3.3 Market Share Analysis

        3.3.1 Market Ranking Analysis

    3.4 Revenue Analysis, 2020-2024
    3.5 Brand/product Comparison
    3.6 Company Valuation and Financial Metrics
    3.7 Company Evaluation Matrix: Key Players, 2024

        3.7.1 Stars
        3.7.2 Emerging Leaders
        3.7.3 Pervasive Players
        3.7.4 Participants
        3.7.5 Company Footprint: Key Players, 2024

            3.7.5.1 Company Footprint
            3.7.5.2 Service Type Footprint
            3.7.5.3 Application Type Footprint
            3.7.5.4 Vertical Footprint
            3.7.5.5 Regional Footprint

    3.8 Competitive Scenario

        3.8.1 Product Launches
        3.8.2 Deals

    4.1 ACCENTURE

        4.1.1 Business overview
        4.1.2 Products/Solutions/Services offered
        4.1.3 Recent developments

    4.2 TCS

        4.2.1 Business overview
        4.2.2 Products/Solutions/Services offered
        4.2.3 Recent developments

    4.3 IBM

        4.3.1 Business overview
        4.3.2 Products/Solutions/Services offered
        4.3.3 Recent developments

    4.4 COGNIZANT

        4.4.1 Business overview
        4.4.2 Products/Solutions/Services offered
        4.4.3 Recent developments

    4.5 INFOSYS

        4.5.1 Business overview
        4.5.2 Products/Solutions/Services offered
        4.5.3 Recent developments

    4.6 CAPGEMINI

        4.6.1 Business overview
        4.6.2 Products/Solutions/Services offered
        4.6.3 Recent developments

    4.7 NTT DATA

        4.7.1 Business overview
        4.7.2 Products/Solutions/Services offered
        4.7.3 Recent developments

    4.8 HCL TECHNOLOGIES

        4.8.1 Business overview
        4.8.2 Products/Solutions/Services offered
        4.8.3 Recent developments

    4.9 MICROSOFT

        4.9.1 Business overview
        4.9.2 Products/Solutions/Services offered
        4.9.3 Recent developments

    4.10 WIPRO

        4.10.1 Business overview
        4.10.2 Products/Solutions/Services offered
        4.10.3 Recent developments

    4.11 LTIMINDTREE

        4.11.1 Business overview
        4.11.2 Products/Solutions/Services offered
        4.11.3 Recent developments

    4.12 EPAM SYSTEMS

        4.12.1 Business overview
        4.12.2 Products/Solutions/Services offered
        4.12.3 Recent developments

    4.13 ATOS

        4.13.1 Business overview
        4.13.2 Products/Solutions/Services offered
        4.13.3 Recent developments

    4.14 DXC TECHNOLOGY

        4.14.1 Business overview
        4.14.2 Products/Solutions/Services offered
        4.14.3 Recent developments

    4.15 FUJITSU

        4.15.1 Business overview
        4.15.2 Products/Solutions/Services offered
        4.15.3 Recent developments

    4.16 ORACLE

        4.16.1 Business overview
        4.16.2 Products/Solutions/Services offered
        4.16.3 Recent developments

    4.17 HEXAWARE TECHNOLOGIES

        4.17.1 Business overview
        4.17.2 Products/Solutions/Services offered
        4.17.3 Recent developments

    4.18 INNOVA SOLUTIONS

        4.18.1 Business overview
        4.18.2 Products/Solutions/Services offered
        4.18.3 Recent developments

    4.19 DELL TECHNOLOGIES

        4.19.1 Business overview
        4.19.2 Products/Solutions/Services offered
        4.19.3 Recent developments

    4.20 VIRTUSA

        4.20.1 Business overview
        4.20.2 Products/Solutions/Services offered
        4.20.3 Recent developments

    4.21 SIMFORM

        4.21.1 Business overview
        4.21.2 Products/Solutions/Services offered
        4.21.3 Recent developments

    4.22 ASPIRE SYSTEMS

        4.22.1 Business overview
        4.22.2 Products/Solutions/Services offered
        4.22.3 Recent developments

    4.23 MONGODB

        4.23.1 Business overview
        4.23.2 Products/Solutions/Services offered
        4.23.3 Recent developments

    4.24 CLOUDHEDGE TECHNOLOGIES PVT. LTD.

        4.24.1 Business overview
        4.24.2 Products/Solutions/Services offered
        4.24.3 Recent developments

    4.25 SOFTURA

        4.25.1 Business overview
        4.25.2 Products/Solutions/Services offered
        4.25.3 Recent developments

    4.26 TECHAHEAD

        4.26.1 Business overview
        4.26.2 Products/Solutions/Services offered
        4.26.3 Recent developments

    4.27 ICREON

        4.27.1 Business overview
        4.27.2 Products/Solutions/Services offered
        4.27.3 Recent developments

    4.28 BAYSHORE INTELLIGENCE SOLUTIONS

        4.28.1 Business overview
        4.28.2 Products/Solutions/Services offered
        4.28.3 Recent developments

    4.29 D3V TECHNOLOGY

        4.29.1 Business overview
        4.29.2 Products/Solutions/Services offered
        4.29.3 Recent developments

    4.30 OPINOV8

        4.30.1 Business overview
        4.30.2 Products/Solutions/Services offered
        4.30.3 Recent developments

    4.31 SYMPHONY SOLUTIONS

        4.31.1 Business overview
        4.31.2 Products/Solutions/Services offered
        4.31.3 Recent developments

    4.32 CLEVEROAD

        4.32.1 Business overview
        4.32.2 Products/Solutions/Services offered
        4.32.3 Recent developments

    4.33 GEOMOTIV

        4.33.1 Business overview
        4.33.2 Products/Solutions/Services offered
        4.33.3 Recent developments

    4.34 SOFT SUAVE

        4.34.1 Business overview
        4.34.2 Products/Solutions/Services offered
        4.34.3 Recent developments

    4.35 PALMDIGITALZ

        4.35.1 Business overview
        4.35.2 Products/Solutions/Services offered
        4.35.3 Recent developments

 
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Icon Company
Icon Headquarters
Icon Year Founded
Icon Holding Type
ACCENTURE Dublin, Ireland 1989 Public
ASPIRE SYSTEMS Tamil Nadu, India 1996
ATOS Bezons, Paris, France 1972 Public
CAPGEMINI Paris, France 1967 Public
COGNIZANT New Jersey, USA 1994
 

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