North America application modernization tools market in is expected to grow from US$ 4.25 Bn in 2018 to US$ 16.56 Bn by the year 2027. This represents a CAGR of 16.5% from the year 2018 to 2027.
Digital transformation or digitization of businesses refers to the integration of digital technology in various business processes, organizational activities, and business models. End-to-end business process optimization, increased operational efficiency, improved customer experience, and reduced costs are few of the factors driving the application modernization tools market. The paradigm shift of enterprises from traditional channels to digital and automated channels results in multiple benefits ranging from improved efficiency to reduced cost and increased revenue opportunities.
In addition to this, the rising technological advancements in cloud computing and storage technology, the power of cloud-based platforms has increased multi-fold during the past few years. Digital transformation implies new business models and engagement models with customers, stakeholders, and partners. Companies are transforming their business digitally to compete effectively in the digital era. This digital transformation has a high impact on the application modernization tools market growth and is expected to drive the application modernization market significantly during the forecast period.
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Top Companies Profiled In This Report:
- Advanced Computer Software Group Limited
- Aspire Systems
- Atos SE
- Blu Age
- Deloitte Touche Tohmatsu Limited
- FreeSoft, Inc.
- Language Portability Solutions
- Micro Focus
- Mphasis Limited.
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