Companies are increasingly investing in application modernization to update outdated software, with the market expected to grow from $19.82 billion in 2024 to $39.62 billion by 2029. This process aims to enhance software reliability, scalability, and security, often realized through effective modernization initiatives. A survey revealed that 58% of companies saw improved security, while many noted gains in scalability and reliability. Experts highlight trends like low-code/no-code development and cloud computing as key to efficient navigation during modernization efforts.
The application modernization services market, estimated at $19.82 billion in 2024, is projected to reach $39.62 billion by 2029, reflecting significant industry growth.
According to the 2024 Konveyor.io survey, 58% of companies reported enhanced software security, 53% improved scalability, and 52% increased reliability post-modernization.
Low-code and no-code development enable companies to build app prototypes rapidly, shortening the time to market for new solutions and accelerating modernization efforts.
Modernization drives such as cloud computing are trending in application development, helping businesses align legacy systems with contemporary technology standards.
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