Application Transformation Market Size- KBV Research

Posted July 23, 2019 by kusum21

The Global Application Transformation Market size is expected to reach $18.6 billion by 2025, rising at a market growth of 12.3% CAGR during the forecast period.

Application transformation market is surfacing due to the cloud and big data technologies, which further raises the transformation process to the next level. Enterprises strive to achieve a competitive edge, which can be easily achieved with the application transformation process. There is a constant need to be updated with innovative technologies and improve the return on investment (ROI), which involves an agile methodology and scientific approach for mitigating the key challenges and risks involved in the legacy applications.

What is application transformation?

Application transformation includes everything ranging from decreasing the number of applications within an enterprise to moving the applications directly to the cloud just to confirm that these apps meet the updated compliance and government requirements. The transformation process creates a management program and application portfolio. Application transformation products and offerings help IT departments in tackling with the increasing adoption of mobile computing and social media in organizations.

The application transformation method mainly includes the three main steps: replatforming, organization transformation, and modernization. Replatforming simply means moving a small group of existing applications to an innovative platform. Moving ahead, with modernization, the level of cloud maturity in case of a replatformed application increases with larger and more complex applications that are also transformed. Lastly, organization transformation reconfigures an organization by improving small, stable teams, which provide software products.

Why is there a need for application transformation?

Increasing customer demands are influencing the companies to innovate at a faster rate. Moreover, many developers work together with legacy applications that use outdated platforms along with antiquated tools. The cloud obstructs a complex application portfolio that is combined and sparsely documented. Above all, an organization’s growth is often impeded by manual, tedious processes planned to reduce the risk and maintain compliance. Reason being, software releases are infrequent and time-consuming. Application transformation services help to ease out the journey of transformation to the cloud and provide confidence at every step of the journey. This technology works alongside to change from the legacy portfolio to cloud-native, which also reduces cost, time, and operational inefficiencies and also maintains security, compliance, and resilience. In large organizations, the plans and their executions that are based on application transformation increases the cloud maturity of an individual app portfolio.

Which industries are implementing application transformation at a large scale?

• Retail Sector

Retailers are implementing innovative technologies for increasing their visibility and presence in the industry. The retail verticals are observing a huge transformation phase. Retailers are updating their brick-and-mortar stores for providing better services to their customers. Moreover, numerous retail stores have established an online path to increase their revenue. Retailers have adopted novel and other innovative technologies, such as big data analytics, cloud computing, digital stores, and social networks, to increase their visibility and presence globally.

• Manufacturing Sector

The manufacturing industry, across the globe, is continuously under the pressure of increasing their output and refining the quality, that too at a minimum cost. In this era of competition, organizations aim towards growing their global presence and move ahead. It is essential to cope up with the rising expectations of customers and stakeholders. This calls for the commencement of innovative and strategic measures with the motive of becoming more responsible, economical and also cost-sensitive.

• Government Sector

Governments have also taken initiatives in adopting innovative technologies and promoting their legacy applications by moving them to new environments and open-source middleware platforms. Since the legacy applications power core government services ranging from case management and eligibility systems till permitting, licensing, and homeland security— all these will continue to increase the technical debt. Government IT teams identify that maintaining infrastructure silos is very expensive. They are already aware that purpose-built applications are complicated to change and that traditional software development increases the delivery cycle.

Benefits of using the application transformation technology

Custom applications offer significant advantages over out-of-the-box solutions – especially when it comes to business process management and application transformation. Customer satisfaction is usually a primary benefit, but, improving efficiency is a major drive for application transformation.

Organizations are drifting away from manual interventions, as effectiveness becomes the crucial phrase.
When a manual process is replaced with electronic versions, there are quicker process flows which are put into place. This further makes the organization efficiency model a success story to reckon. Improved customer satisfaction levels, escalate the application transformation success rate for enterprises. The higher the profits, the better it is for the motivation of the employees, and more significant becomes the trust of the customers in the brand. When the profit increases, better decisions are taken towards improving the efficacy in business processes. This can be further geared towards making the customer services better.

To Sum Up

The application transformation market is growing due to a wide range of factors. The major factors influencing this boost include continuous developments, new technologies, and improvements in return on investment, which needs a scientific approach and agile methodology to reduce the key challenges and risks involved in the existing legacy applications. Multicloud is a fairly new concept for the cloud conversation and this movement has a major significance, no matter which workloads are being run in which cloud. The experience for IT and those that are utilizing the applications need to be seamless, secure and streamlined. Moreover, the Global Application Transformation Market is expected to rise at a market growth of CAGR 12.3% over the forecast period.
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Tags Application Transformation Market Growth , Application Transformation Market Analysis , Application Transformation Market Size , KBV Research , Application Transformation Market , Application Transformation
Last Updated July 23, 2019