The global market for IT Modernization Service was valued at US$ 30730 million in the year 2024 and is projected to reach a revised size of US$ 64730 million by 2031, growing at a CAGR of 11.4% during the forecast period.
IT Modernization Service refers to the process of updating and upgrading an organization's information technology infrastructure, systems, and processes to align with current industry standards and best practices. This may involve migrating legacy systems to cloud-based platforms, implementing new software and hardware solutions, enhancing cybersecurity measures, and improving overall efficiency and performance. By modernizing their IT environment, organizations can increase productivity, reduce costs, enhance security, and better position themselves for future growth and innovation.
The IT Modernization Service Market has been witnessing significant growth and transformation in recent times.This growth is reflective of the overall IT modernization service market as businesses across industries recognize the need to update their IT infrastructure.​
Major sales regions for IT modernization services span globally, with North America often leading the pack. The region has a high concentration of technology - savvy enterprises and a culture that readily adopts new IT solutions. The presence of major technology hubs like Silicon Valley further fuels the demand for IT modernization. Europe also holds a substantial market share, driven by its large - scale enterprises and a focus on digital transformation to remain competitive globally. Asia - Pacific is emerging as a rapidly growing market. Countries like China and India have a booming technology startup scene and large enterprises that are increasingly investing in IT modernization to enhance efficiency and competitiveness.​
The market concentration in the IT modernization service space is somewhat fragmented. There are numerous players, ranging from large global technology service providers to niche, specialized firms. Key players include industry giants such as Accenture, IBM, and Capgemini. These companies have a wide range of IT modernization service offerings, from cloud migration and application modernization to infrastructure upgrade services. They leverage their global presence, large talent pools, and extensive technological expertise to capture a significant portion of the market. However, smaller, more specialized firms are also making inroads by offering highly customized solutions, often focusing on specific industries or technologies.​
Market opportunities in IT modernization are abundant. The increasing adoption of cloud computing presents a huge opportunity. This growth is further spurred by the integration of artificial intelligence (AI) and machine learning (ML) into cloud services, which many organizations are eager to adopt. Additionally, the development of industry - specific cloud platforms, or "industry clouds," is another significant opportunity. These platforms are tailored to the unique data and regulatory needs of industries like finance, healthcare, and retail, and are expected to see a high adoption rate.
However, the market also faces several challenges. One major challenge is the threat landscape, especially as more IT operations move to the cloud. According to a recent security survey, over 80% of new security breaches were found in the cloud. Data breaches, such as the one suffered by the Pentagon due to a misconfiguration in their cloud environment, highlight the importance of robust security measures. Another challenge is the shortage of skilled developers, which impacts the implementation of low - code and no - code development platforms that are part of the IT modernization trend.​
Future product trends in IT modernization services will likely revolve around sustainability. Technology providers like AWS, Google, and Microsoft are all planning to become carbon - neutral or negative within the next ten years. This will drive the development of more energy - efficient cloud data centers, which may rely on renewable energy sources like wind and solar. Additionally, enhanced edge computing and the integration of Internet of Things (IoT) devices will continue to be a trend. With the advent of 5G technology, edge computing can fully benefit from the cloud, enabling real - time analytics and alerts through IoT devices in various sectors such as retail, manufacturing, and entertainment.
This report aims to provide a comprehensive presentation of the global market for IT Modernization Service, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding IT Modernization Service.
The IT Modernization Service market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global IT Modernization Service market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the IT Modernization Service companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
IBM
CGI
Accenture
Wipro
TCS
Capgemini
Cognizant
HCL Technologies
Tech Mahindra
Fujitsu
Atos
Infosys
DXC Technology
RSM
NTT DATA
HPE
EPAM
Mphasis
Leidos
AWS
Maximus
Innova Solutions
IGT Solutions
UST
Deloitte
PwC
Sparkhound
Mindbowser Infosolutions
USmax Corporation
Infopulse
Veritis Group
Auxis
Aspire Systems
Cloud4C
Chameleon
SHI
AWS
Innowise
Technik
Rocket Software
Eagle Hill
ScienceSoft
Radixweb
Computer Task Group
TierPoint
TEKsystems
CDW
Denodo
Bridgenext
UST
CBTS
Sun Technologies
Nutanix
Segment by Type
Application Modernization
Infrastructure Modernization
Data Modernization
Business Process Modernization
Segment by Application
Government
BFSI
Manufacturing
Telecom and Media
Healthcare
Other
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of IT Modernization Service company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.
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1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global IT Modernization Service Market Size Growth Rate by Type: 2020 VS 2024 VS 2031
1.2.2 Application Modernization
1.2.3 Infrastructure Modernization
1.2.4 Data Modernization
1.2.5 Business Process Modernization
1.3 Market by Application
1.3.1 Global IT Modernization Service Market Growth by Application: 2020 VS 2024 VS 2031
1.3.2 Government
1.3.3 BFSI
1.3.4 Manufacturing
1.3.5 Telecom and Media
1.3.6 Healthcare
1.3.7 Other
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Growth Trends
2.1 Global IT Modernization Service Market Perspective (2020-2031)
2.2 Global IT Modernization Service Growth Trends by Region
2.2.1 Global IT Modernization Service Market Size by Region: 2020 VS 2024 VS 2031
2.2.2 IT Modernization Service Historic Market Size by Region (2020-2025)
2.2.3 IT Modernization Service Forecasted Market Size by Region (2026-2031)
2.3 IT Modernization Service Market Dynamics
2.3.1 IT Modernization Service Industry Trends
2.3.2 IT Modernization Service Market Drivers
2.3.3 IT Modernization Service Market Challenges
2.3.4 IT Modernization Service Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top IT Modernization Service Players by Revenue
3.1.1 Global Top IT Modernization Service Players by Revenue (2020-2025)
3.1.2 Global IT Modernization Service Revenue Market Share by Players (2020-2025)
3.2 Global Top IT Modernization Service Players by Company Type and Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Global Key Players Ranking by IT Modernization Service Revenue
3.4 Global IT Modernization Service Market Concentration Ratio
3.4.1 Global IT Modernization Service Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by IT Modernization Service Revenue in 2024
3.5 Global Key Players of IT Modernization Service Head office and Area Served
3.6 Global Key Players of IT Modernization Service, Product and Application
3.7 Global Key Players of IT Modernization Service, Date of Enter into This Industry
3.8 Mergers & Acquisitions, Expansion Plans
4 IT Modernization Service Breakdown Data by Type
4.1 Global IT Modernization Service Historic Market Size by Type (2020-2025)
4.2 Global IT Modernization Service Forecasted Market Size by Type (2026-2031)
5 IT Modernization Service Breakdown Data by Application
5.1 Global IT Modernization Service Historic Market Size by Application (2020-2025)
5.2 Global IT Modernization Service Forecasted Market Size by Application (2026-2031)
6 North America
6.1 North America IT Modernization Service Market Size (2020-2031)
6.2 North America IT Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
6.3 North America IT Modernization Service Market Size by Country (2020-2025)
6.4 North America IT Modernization Service Market Size by Country (2026-2031)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe IT Modernization Service Market Size (2020-2031)
7.2 Europe IT Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
7.3 Europe IT Modernization Service Market Size by Country (2020-2025)
7.4 Europe IT Modernization Service Market Size by Country (2026-2031)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific IT Modernization Service Market Size (2020-2031)
8.2 Asia-Pacific IT Modernization Service Market Growth Rate by Region: 2020 VS 2024 VS 2031
8.3 Asia-Pacific IT Modernization Service Market Size by Region (2020-2025)
8.4 Asia-Pacific IT Modernization Service Market Size by Region (2026-2031)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America IT Modernization Service Market Size (2020-2031)
9.2 Latin America IT Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
9.3 Latin America IT Modernization Service Market Size by Country (2020-2025)
9.4 Latin America IT Modernization Service Market Size by Country (2026-2031)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa IT Modernization Service Market Size (2020-2031)
10.2 Middle East & Africa IT Modernization Service Market Growth Rate by Country: 2020 VS 2024 VS 2031
10.3 Middle East & Africa IT Modernization Service Market Size by Country (2020-2025)
10.4 Middle East & Africa IT Modernization Service Market Size by Country (2026-2031)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 IBM
11.1.1 IBM Company Details
11.1.2 IBM Business Overview
11.1.3 IBM IT Modernization Service Introduction
11.1.4 IBM Revenue in IT Modernization Service Business (2020-2025)
11.1.5 IBM Recent Development
11.2 CGI
11.2.1 CGI Company Details
11.2.2 CGI Business Overview
11.2.3 CGI IT Modernization Service Introduction
11.2.4 CGI Revenue in IT Modernization Service Business (2020-2025)
11.2.5 CGI Recent Development
11.3 Accenture
11.3.1 Accenture Company Details
11.3.2 Accenture Business Overview
11.3.3 Accenture IT Modernization Service Introduction
11.3.4 Accenture Revenue in IT Modernization Service Business (2020-2025)
11.3.5 Accenture Recent Development
11.4 Wipro
11.4.1 Wipro Company Details
11.4.2 Wipro Business Overview
11.4.3 Wipro IT Modernization Service Introduction
11.4.4 Wipro Revenue in IT Modernization Service Business (2020-2025)
11.4.5 Wipro Recent Development
11.5 TCS
11.5.1 TCS Company Details
11.5.2 TCS Business Overview
11.5.3 TCS IT Modernization Service Introduction
11.5.4 TCS Revenue in IT Modernization Service Business (2020-2025)
11.5.5 TCS Recent Development
11.6 Capgemini
11.6.1 Capgemini Company Details
11.6.2 Capgemini Business Overview
11.6.3 Capgemini IT Modernization Service Introduction
11.6.4 Capgemini Revenue in IT Modernization Service Business (2020-2025)
11.6.5 Capgemini Recent Development
11.7 Cognizant
11.7.1 Cognizant Company Details
11.7.2 Cognizant Business Overview
11.7.3 Cognizant IT Modernization Service Introduction
11.7.4 Cognizant Revenue in IT Modernization Service Business (2020-2025)
11.7.5 Cognizant Recent Development
11.8 HCL Technologies
11.8.1 HCL Technologies Company Details
11.8.2 HCL Technologies Business Overview
11.8.3 HCL Technologies IT Modernization Service Introduction
11.8.4 HCL Technologies Revenue in IT Modernization Service Business (2020-2025)
11.8.5 HCL Technologies Recent Development
11.9 Tech Mahindra
11.9.1 Tech Mahindra Company Details
11.9.2 Tech Mahindra Business Overview
11.9.3 Tech Mahindra IT Modernization Service Introduction
11.9.4 Tech Mahindra Revenue in IT Modernization Service Business (2020-2025)
11.9.5 Tech Mahindra Recent Development
11.10 Fujitsu
11.10.1 Fujitsu Company Details
11.10.2 Fujitsu Business Overview
11.10.3 Fujitsu IT Modernization Service Introduction
11.10.4 Fujitsu Revenue in IT Modernization Service Business (2020-2025)
11.10.5 Fujitsu Recent Development
11.11 Atos
11.11.1 Atos Company Details
11.11.2 Atos Business Overview
11.11.3 Atos IT Modernization Service Introduction
11.11.4 Atos Revenue in IT Modernization Service Business (2020-2025)
11.11.5 Atos Recent Development
11.12 Infosys
11.12.1 Infosys Company Details
11.12.2 Infosys Business Overview
11.12.3 Infosys IT Modernization Service Introduction
11.12.4 Infosys Revenue in IT Modernization Service Business (2020-2025)
11.12.5 Infosys Recent Development
11.13 DXC Technology
11.13.1 DXC Technology Company Details
11.13.2 DXC Technology Business Overview
11.13.3 DXC Technology IT Modernization Service Introduction
11.13.4 DXC Technology Revenue in IT Modernization Service Business (2020-2025)
11.13.5 DXC Technology Recent Development
11.14 RSM
11.14.1 RSM Company Details
11.14.2 RSM Business Overview
11.14.3 RSM IT Modernization Service Introduction
11.14.4 RSM Revenue in IT Modernization Service Business (2020-2025)
11.14.5 RSM Recent Development
11.15 NTT DATA
11.15.1 NTT DATA Company Details
11.15.2 NTT DATA Business Overview
11.15.3 NTT DATA IT Modernization Service Introduction
11.15.4 NTT DATA Revenue in IT Modernization Service Business (2020-2025)
11.15.5 NTT DATA Recent Development
11.16 HPE
11.16.1 HPE Company Details
11.16.2 HPE Business Overview
11.16.3 HPE IT Modernization Service Introduction
11.16.4 HPE Revenue in IT Modernization Service Business (2020-2025)
11.16.5 HPE Recent Development
11.17 EPAM
11.17.1 EPAM Company Details
11.17.2 EPAM Business Overview
11.17.3 EPAM IT Modernization Service Introduction
11.17.4 EPAM Revenue in IT Modernization Service Business (2020-2025)
11.17.5 EPAM Recent Development
11.18 Mphasis
11.18.1 Mphasis Company Details
11.18.2 Mphasis Business Overview
11.18.3 Mphasis IT Modernization Service Introduction
11.18.4 Mphasis Revenue in IT Modernization Service Business (2020-2025)
11.18.5 Mphasis Recent Development
11.19 Leidos
11.19.1 Leidos Company Details
11.19.2 Leidos Business Overview
11.19.3 Leidos IT Modernization Service Introduction
11.19.4 Leidos Revenue in IT Modernization Service Business (2020-2025)
11.19.5 Leidos Recent Development
11.20 AWS
11.20.1 AWS Company Details
11.20.2 AWS Business Overview
11.20.3 AWS IT Modernization Service Introduction
11.20.4 AWS Revenue in IT Modernization Service Business (2020-2025)
11.20.5 AWS Recent Development
11.21 Maximus
11.21.1 Maximus Company Details
11.21.2 Maximus Business Overview
11.21.3 Maximus IT Modernization Service Introduction
11.21.4 Maximus Revenue in IT Modernization Service Business (2020-2025)
11.21.5 Maximus Recent Development
11.22 Innova Solutions
11.22.1 Innova Solutions Company Details
11.22.2 Innova Solutions Business Overview
11.22.3 Innova Solutions IT Modernization Service Introduction
11.22.4 Innova Solutions Revenue in IT Modernization Service Business (2020-2025)
11.22.5 Innova Solutions Recent Development
11.23 IGT Solutions
11.23.1 IGT Solutions Company Details
11.23.2 IGT Solutions Business Overview
11.23.3 IGT Solutions IT Modernization Service Introduction
11.23.4 IGT Solutions Revenue in IT Modernization Service Business (2020-2025)
11.23.5 IGT Solutions Recent Development
11.24 UST
11.24.1 UST Company Details
11.24.2 UST Business Overview
11.24.3 UST IT Modernization Service Introduction
11.24.4 UST Revenue in IT Modernization Service Business (2020-2025)
11.24.5 UST Recent Development
11.25 Deloitte
11.25.1 Deloitte Company Details
11.25.2 Deloitte Business Overview
11.25.3 Deloitte IT Modernization Service Introduction
11.25.4 Deloitte Revenue in IT Modernization Service Business (2020-2025)
11.25.5 Deloitte Recent Development
11.26 PwC
11.26.1 PwC Company Details
11.26.2 PwC Business Overview
11.26.3 PwC IT Modernization Service Introduction
11.26.4 PwC Revenue in IT Modernization Service Business (2020-2025)
11.26.5 PwC Recent Development
11.27 Sparkhound
11.27.1 Sparkhound Company Details
11.27.2 Sparkhound Business Overview
11.27.3 Sparkhound IT Modernization Service Introduction
11.27.4 Sparkhound Revenue in IT Modernization Service Business (2020-2025)
11.27.5 Sparkhound Recent Development
11.28 Mindbowser Infosolutions
11.28.1 Mindbowser Infosolutions Company Details
11.28.2 Mindbowser Infosolutions Business Overview
11.28.3 Mindbowser Infosolutions IT Modernization Service Introduction
11.28.4 Mindbowser Infosolutions Revenue in IT Modernization Service Business (2020-2025)
11.28.5 Mindbowser Infosolutions Recent Development
11.29 USmax Corporation
11.29.1 USmax Corporation Company Details
11.29.2 USmax Corporation Business Overview
11.29.3 USmax Corporation IT Modernization Service Introduction
11.29.4 USmax Corporation Revenue in IT Modernization Service Business (2020-2025)
11.29.5 USmax Corporation Recent Development
11.30 Infopulse
11.30.1 Infopulse Company Details
11.30.2 Infopulse Business Overview
11.30.3 Infopulse IT Modernization Service Introduction
11.30.4 Infopulse Revenue in IT Modernization Service Business (2020-2025)
11.30.5 Infopulse Recent Development
11.31 Veritis Group
11.31.1 Veritis Group Company Details
11.31.2 Veritis Group Business Overview
11.31.3 Veritis Group IT Modernization Service Introduction
11.31.4 Veritis Group Revenue in IT Modernization Service Business (2020-2025)
11.31.5 Veritis Group Recent Development
11.32 Auxis
11.32.1 Auxis Company Details
11.32.2 Auxis Business Overview
11.32.3 Auxis IT Modernization Service Introduction
11.32.4 Auxis Revenue in IT Modernization Service Business (2020-2025)
11.32.5 Auxis Recent Development
11.33 Aspire Systems
11.33.1 Aspire Systems Company Details
11.33.2 Aspire Systems Business Overview
11.33.3 Aspire Systems IT Modernization Service Introduction
11.33.4 Aspire Systems Revenue in IT Modernization Service Business (2020-2025)
11.33.5 Aspire Systems Recent Development
11.34 Cloud4C
11.34.1 Cloud4C Company Details
11.34.2 Cloud4C Business Overview
11.34.3 Cloud4C IT Modernization Service Introduction
11.34.4 Cloud4C Revenue in IT Modernization Service Business (2020-2025)
11.34.5 Cloud4C Recent Development
11.35 Chameleon
11.35.1 Chameleon Company Details
11.35.2 Chameleon Business Overview
11.35.3 Chameleon IT Modernization Service Introduction
11.35.4 Chameleon Revenue in IT Modernization Service Business (2020-2025)
11.35.5 Chameleon Recent Development
11.36 SHI
11.36.1 SHI Company Details
11.36.2 SHI Business Overview
11.36.3 SHI IT Modernization Service Introduction
11.36.4 SHI Revenue in IT Modernization Service Business (2020-2025)
11.36.5 SHI Recent Development
11.37 AWS
11.37.1 AWS Company Details
11.37.2 AWS Business Overview
11.37.3 AWS IT Modernization Service Introduction
11.37.4 AWS Revenue in IT Modernization Service Business (2020-2025)
11.37.5 AWS Recent Development
11.38 Innowise
11.38.1 Innowise Company Details
11.38.2 Innowise Business Overview
11.38.3 Innowise IT Modernization Service Introduction
11.38.4 Innowise Revenue in IT Modernization Service Business (2020-2025)
11.38.5 Innowise Recent Development
11.39 Technik
11.39.1 Technik Company Details
11.39.2 Technik Business Overview
11.39.3 Technik IT Modernization Service Introduction
11.39.4 Technik Revenue in IT Modernization Service Business (2020-2025)
11.39.5 Technik Recent Development
11.40 Rocket Software
11.40.1 Rocket Software Company Details
11.40.2 Rocket Software Business Overview
11.40.3 Rocket Software IT Modernization Service Introduction
11.40.4 Rocket Software Revenue in IT Modernization Service Business (2020-2025)
11.40.5 Rocket Software Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.1.1 Research Programs/Design
13.1.1.2 Market Size Estimation
13.1.1.3 Market Breakdown and Data Triangulation
13.1.2 Data Source
13.1.2.1 Secondary Sources
13.1.2.2 Primary Sources
13.2 Author Details
13.3 Disclaimer
IBM
CGI
Accenture
Wipro
TCS
Capgemini
Cognizant
HCL Technologies
Tech Mahindra
Fujitsu
Atos
Infosys
DXC Technology
RSM
NTT DATA
HPE
EPAM
Mphasis
Leidos
AWS
Maximus
Innova Solutions
IGT Solutions
UST
Deloitte
PwC
Sparkhound
Mindbowser Infosolutions
USmax Corporation
Infopulse
Veritis Group
Auxis
Aspire Systems
Cloud4C
Chameleon
SHI
AWS
Innowise
Technik
Rocket Software
Eagle Hill
ScienceSoft
Radixweb
Computer Task Group
TierPoint
TEKsystems
CDW
Denodo
Bridgenext
UST
CBTS
Sun Technologies
Nutanix
Ìý
Ìý
*If Applicable.