Global Application Modernization Services Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 2/24/2023
- NO OF PAGES
- 254
- CATEGORY
- Information Technology
Market Overview:
The global Application Modernization Services Market size was valued at USD 17.56 billion in 2022, and is projected to reach USD 33.57 billion by 2032 at a CAGR of 18.5% from 2022 to 2032.
Application modernization services refer to the process of updating or revamping existing legacy applications to keep up with the latest technology trends and meet current business requirements. This involves upgrading the application's underlying technology platform, improving its functionality and usability, and ensuring its compatibility with newer systems and devices. The goal of application modernization is to enhance the performance, scalability, security, and maintainability of applications while reducing operational costs and increasing agility. The application modernization services market has witnessed significant growth in recent years, driven by the increasing need for businesses to transform their legacy applications and adopt cloud-native architectures.
One of the key trends in the application modernization services market is the growing adoption of cloud-native architectures. Cloud-native applications are designed to run on cloud platforms, leveraging the benefits of scalability, flexibility, and agility. This requires a complete overhaul of legacy applications, including re-architecting, re-platforming, and re-factoring. The increasing demand for cloud-native applications is driving the need for application modernization services that can help businesses migrate their applications to the cloud and adopt a cloud-native architecture.
Another trend in the market is the rising popularity of DevOps practices. DevOps is an approach to software development that emphasizes collaboration, automation, and continuous delivery. By adopting DevOps practices, businesses can accelerate their application modernization efforts and achieve faster time-to-market. This has led to the emergence of DevOps-focused application modernization services that offer a range of services, including automation, testing, and deployment. Moreover, the increasing adoption of artificial intelligence (AI) and machine learning (ML) is driving the need for application modernization services that can help businesses integrate these technologies into their existing applications. AI and ML can help businesses improve their decision-making processes, automate repetitive tasks, and enhance the user experience. However, integrating AI and ML into legacy applications requires significant re-engineering efforts, which can be addressed through application modernization services.
Growing demand for modernizing legacy applications is propelling the market growth.
Legacy applications are software systems that were developed using older technology and programming languages, often on older hardware and infrastructure. These applications may have been designed to meet the needs of a different era, and as such, may not be able to keep up with the rapidly changing technological landscape and the evolving demands of modern business. As a result, many businesses are turning to application modernization services to update their legacy applications and make them more efficient, secure, and scalable. Application modernization services can involve various techniques such as re-architecting, re-platforming, re-hosting, refactoring, and containerizing legacy applications.
The need for application modernization services is driven by several factors, including the increasing importance of digital transformation, the growing adoption of cloud computing, and the need to improve business agility and innovation. Modernized applications are also critical for improving customer experience, reducing operational costs, and ensuring regulatory compliance. As a result, the application modernization services market is expected to continue to grow in the coming years, as more and more businesses seek to modernize their legacy applications and stay competitive in the digital age.
Segmentation:
By Service Type
· Application Portfolio Assessment
· Cloud Application Migration
· Application Re-platforming
· Application Integration
· UI Modernization
· Application Development & Maintenance
By End User
· BFSI
· Healthcare
· Manufacturing
· Retail
· IT and Telecom
Geography:
The Application Modernization Services Market is a global market, and the dominance of a particular region can vary depending on the factors such as the presence of major market players, the level of technology adoption, and the demand for modernization services in various industries. According to recent market reports, North America currently dominates the Application Modernization Services Market, followed by Europe and the Asia-Pacific region. This can be attributed to the high adoption rate of advanced technologies, such as cloud computing and digital transformation, in the North American market, especially in the United States.
In addition, North America has a large number of established IT service providers and consulting firms, which are major players in the application modernization services market. The region also has a high demand for application modernization services in various industries, such as BFSI, healthcare, and manufacturing, which further contributes to its dominance. However, the Asia-Pacific region is expected to witness the fastest growth in the application modernization services market due to the increasing adoption of cloud computing, digital transformation, and the growing demand for modernization services in emerging economies such as India and China.
Impact of COVID-19 on the global Application Modernization Services Market:
The COVID-19 pandemic has had a significant impact on the Application Modernization Services Market. The pandemic has accelerated the adoption of digital transformation and cloud computing, which has led to an increased demand for application modernization services. The pandemic has forced businesses to shift their operations to remote work, which has resulted in an increased demand for modernized applications that can be accessed from anywhere. This has led to an increased demand for cloud-based application modernization services that can enable remote work and collaboration.
Additionally, the pandemic has resulted in budget constraints for many businesses, which has led to a higher demand for cost-effective application modernization services. This has driven the market towards more flexible pricing models, such as pay-per-use and subscription-based models, which have become more popular during the pandemic. However, the pandemic has also resulted in supply chain disruptions, reduced business activity, and economic uncertainty, which have impacted the growth of the Application Modernization Services Market. Some businesses have delayed their application modernization projects due to budget constraints or uncertainty about the future, which has slowed down the market growth.
Overall, the impact of COVID-19 on the Application Modernization Services Market has been mixed, with some positive effects due to increased demand for cloud-based solutions and some negative effects due to economic uncertainty and budget constraints.
Impact of the Russia-Ukraine War on the global Application Modernization Services Market:
The ongoing Russia-Ukraine war has had a limited impact on the Application Modernization Services Market, as it is primarily a regional conflict with a relatively limited impact on the global economy. However, there are some potential effects that may be observed, such as:
Geopolitical risk: The conflict has raised concerns about geopolitical risks in the region, which may impact the investment climate and business confidence. This may lead to a slowdown in the growth of the market as businesses delay or reduce their investment in modernization services due to uncertainty about the future.
Economic sanctions: The war has led to economic sanctions against Russia by some Western countries, which may impact the ability of Russian companies to access international markets for application modernization services. This may lead to a decrease in the market share of Russian companies and an increase in the market share of companies from other regions.
Cybersecurity concerns: The conflict has raised concerns about cybersecurity risks, as both sides have been accused of cyberattacks against each other. This may lead to increased demand for cybersecurity-related modernization services, such as application security testing and vulnerability management.
Overall, the impact of the Russia-Ukraine war on the Application Modernization Services Market is likely to be limited, as it is primarily a regional conflict that may have some indirect effects on the global economy and the investment climate. However, it is important to monitor the situation and assess any potential risks or opportunities for the market.
Company Profiles:
· Accenture
· Capgemini
· Cognizant
· DXC Technology
· HCL Technologies
· IBM Corporation
· Infosys Limited
· Mindtree Limited
· Mphasis Limited
· NTT Data Corporation
· Tech Mahindra Limited
· Tata Consultancy Services Limited
· Wipro Limited
· Atos SE
· CGI Inc.
Global Application Modernization Services Market: Regional AnalysisThe countries covered in the regional analysis of the Global Application Modernization Services market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Application Modernization Services market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Application Modernization Services would help in identifying future applications in this market.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Objectives of the Study:
• To provide with an exhaustive analysis on the Application Modernization Services Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Historic Year: 2016-2022
Forecast: 2024-2035
1 Application Modernization Services Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Application Modernization Services
1.3 Application Modernization Services Market Scope and Market Size Estimation
1.3.1 Market Concentration Ratio and Market Maturity Analysis
1.3.2 Global Application Modernization Services Revenue and Growth Rate from 2016-2026
1.4 Market Segmentation
1.4.1 Types of Application Modernization Services
1.4.2 Applications of Application Modernization Services
1.4.3 Research Regions
1.5 Market Dynamics
1.5.1 Application Modernization Services Industry Trends
1.5.2 Application Modernization Services Drivers
1.5.3 Application Modernization Services Market Challenges
1.5.4 Application Modernization Services Market Restraints
1.6 Industry News and Policies by Regions
1.6.1 Industry News
1.6.2 Industry Policies
1.7 Mergers & Acquisitions, Expansion Plans
1.8 Application Modernization Services Industry Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 Influence of COVID-19 Outbreak on Application Modernization Services Industry Development
2 Industry Chain Analysis
2.1 Upstream Raw Material Supply and Demand Analysis
2.1.1 Global Application Modernization Services Major Upstream Raw Material and Suppliers
2.1.2 Raw Material Source Analysis
2.2 Major Players of Application Modernization Services
2.2.1 Major Players Manufacturing Base of Application Modernization Services in 2020
2.2.2 Major Players Market Distribution in 2020
2.3 Application Modernization Services Manufacturing Cost Structure Analysis
2.3.1 Production Process Analysis
2.3.2 Manufacturing Cost Structure of Application Modernization Services
2.3.3 Labor Cost of Application Modernization Services
2.4 Market Channel Analysis of Application Modernization Services
2.5 Major Down Stream Customers by Application
3 Global Application Modernization Services Market, by Type
3.1 Global Application Modernization Services Revenue and Market Share by Type (2016-2021)
3.2 Global Application Modernization Services Production and Market Share by Type (2016-2021)
3.3 Global Application Modernization Services Revenue and Growth Rate by Type (2016-2021)
3.3.1 Global Application Modernization Services Revenue and Growth Rate of Cobol
3.3.2 Global Application Modernization Services Revenue and Growth Rate of ADA
3.3.3 Global Application Modernization Services Revenue and Growth Rate of PL/1
3.3.4 Global Application Modernization Services Revenue and Growth Rate of RPG
3.3.5 Global Application Modernization Services Revenue and Growth Rate of Assembler
3.3.6 Global Application Modernization Services Revenue and Growth Rate of PowerBuilder
3.3.7 Global Application Modernization Services Revenue and Growth Rate of Others
3.4 Global Application Modernization Services Price Analysis by Type (2016-2021)
3.4.1 Explanation of Different Type Product Price Trends
4 Application Modernization Services Market, by Application
4.1 Downstream Market Overview
4.2 Global Application Modernization Services Consumption and Market Share by Application (2016-2021)
4.3 Global Application Modernization Services Consumption and Growth Rate by Application (2016-2021)
4.3.1 Global Application Modernization Services Consumption and Growth Rate of Emulation (2016-2021)
4.3.2 Global Application Modernization Services Consumption and Growth Rate of Translation (2016-2021)
4.3.3 Global Application Modernization Services Consumption and Growth Rate of Business Rules Extraction (2016-2021)
5 Global Application Modernization Services Consumption, Revenue ($) by Region (2016-2021)
5.1 Global Application Modernization Services Revenue and Market Share by Region (2016-2021)
5.2 Global Application Modernization Services Consumption and Market Share by Region (2016-2021)
5.3 Global Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4 North America Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4.1 North America Application Modernization Services Market Under COVID-19
5.4.2 North America Application Modernization Services SWOT Analysis
5.5 Europe Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.5.1 Europe Application Modernization Services Market Under COVID-19
5.5.2 Europe Application Modernization Services SWOT Analysis
5.6 China Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.6.1 China Application Modernization Services Market Under COVID-19
5.6.2 China Application Modernization Services SWOT Analysis
5.7 Japan Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.7.1 Japan Application Modernization Services Market Under COVID-19
5.7.2 Japan Application Modernization Services SWOT Analysis
5.8 Middle East and Africa Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.8.1 Middle East and Africa Application Modernization Services Market Under COVID-19
5.8.2 Middle East and Africa Application Modernization Services SWOT Analysis
5.9 India Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.9.1 India Application Modernization Services Market Under COVID-19
5.9.2 India Application Modernization Services SWOT Analysis
5.10 South America Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.10.1 South America Application Modernization Services Market Under COVID-19
5.10.2 South America Application Modernization Services SWOT Analysis
5.11 South Korea Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.11.1 South Korea Application Modernization Services Market Under COVID-19
5.11.2 South Korea Application Modernization Services SWOT Analysis
5.12 Southeast Asia Application Modernization Services Consumption, Revenue, Price and Gross Margin (2016-2021)
5.12.1 Southeast Asia Application Modernization Services Market Under COVID-19
5.12.2 Southeast Asia Application Modernization Services SWOT Analysis
6 Global Application Modernization Services Production by Top Regions (2016-2021)
6.1 Global Application Modernization Services Production by Top Regions (2016-2021)
6.2 North America Application Modernization Services Production and Growth Rate
6.3 Europe Application Modernization Services Production and Growth Rate
6.4 China Application Modernization Services Production and Growth Rate
6.5 Japan Application Modernization Services Production and Growth Rate
6.6 India Application Modernization Services Production and Growth Rate
7 Global Application Modernization Services Consumption by Regions (2016-2021)
7.1 Global Application Modernization Services Consumption by Regions (2016-2021)
7.2 North America Application Modernization Services Consumption and Growth Rate
7.3 Europe Application Modernization Services Consumption and Growth Rate
7.4 China Application Modernization Services Consumption and Growth Rate
7.5 Japan Application Modernization Services Consumption and Growth Rate
7.6 Middle East & Africa Application Modernization Services Consumption and Growth Rate
7.7 India Application Modernization Services Consumption and Growth Rate
7.8 South America Application Modernization Services Consumption and Growth Rate
7.9 South Korea Application Modernization Services Consumption and Growth Rate
7.10 Southeast Asia Application Modernization Services Consumption and Growth Rate
8 Competitive Landscape
8.1 Competitive Profile
8.2 Macrosoft Market Performance Analysis
8.2.1 Company Profiles
8.2.2 Application Modernization Services Product Profiles, Application and Specification
8.2.3 Macrosoft Sales, Revenue, Price, Gross Margin 2016-2021
8.2.4 Company Recent Development
8.2.5 Strategies for Company to Deal with the Impact of COVID-19
8.3 Accenture Market Performance Analysis
8.3.1 Company Profiles
8.3.2 Application Modernization Services Product Profiles, Application and Specification
8.3.3 Accenture Sales, Revenue, Price, Gross Margin 2016-2021
8.3.4 Company Recent Development
8.3.5 Strategies for Company to Deal with the Impact of COVID-19
8.4 IBM Market Performance Analysis
8.4.1 Company Profiles
8.4.2 Application Modernization Services Product Profiles, Application and Specification
8.4.3 IBM Sales, Revenue, Price, Gross Margin 2016-2021
8.4.4 Company Recent Development
8.4.5 Strategies for Company to Deal with the Impact of COVID-19
8.5 Wipro Market Performance Analysis
8.5.1 Company Profiles
8.5.2 Application Modernization Services Product Profiles, Application and Specification
8.5.3 Wipro Sales, Revenue, Price, Gross Margin 2016-2021
8.5.4 Company Recent Development
8.5.5 Strategies for Company to Deal with the Impact of COVID-19
8.6 Atos Market Performance Analysis
8.6.1 Company Profiles
8.6.2 Application Modernization Services Product Profiles, Application and Specification
8.6.3 Atos Sales, Revenue, Price, Gross Margin 2016-2021
8.6.4 Company Recent Development
8.6.5 Strategies for Company to Deal with the Impact of COVID-19
8.7 TCS Market Performance Analysis
8.7.1 Company Profiles
8.7.2 Application Modernization Services Product Profiles, Application and Specification
8.7.3 TCS Sales, Revenue, Price, Gross Margin 2016-2021
8.7.4 Company Recent Development
8.7.5 Strategies for Company to Deal with the Impact of COVID-19
8.8 Bell Integrator Market Performance Analysis
8.8.1 Company Profiles
8.8.2 Application Modernization Services Product Profiles, Application and Specification
8.8.3 Bell Integrator Sales, Revenue, Price, Gross Margin 2016-2021
8.8.4 Company Recent Development
8.8.5 Strategies for Company to Deal with the Impact of COVID-19
8.9 TechMahindra Market Performance Analysis
8.9.1 Company Profiles
8.9.2 Application Modernization Services Product Profiles, Application and Specification
8.9.3 TechMahindra Sales, Revenue, Price, Gross Margin 2016-2021
8.9.4 Company Recent Development
8.9.5 Strategies for Company to Deal with the Impact of COVID-19
8.10 DXC Market Performance Analysis
8.10.1 Company Profiles
8.10.2 Application Modernization Services Product Profiles, Application and Specification
8.10.3 DXC Sales, Revenue, Price, Gross Margin 2016-2021
8.10.4 Company Recent Development
8.10.5 Strategies for Company to Deal with the Impact of COVID-19
8.11 Infosys Market Performance Analysis
8.11.1 Company Profiles
8.11.2 Application Modernization Services Product Profiles, Application and Specification
8.11.3 Infosys Sales, Revenue, Price, Gross Margin 2016-2021
8.11.4 Company Recent Development
8.11.5 Strategies for Company to Deal with the Impact of COVID-19
8.12 HCL Market Performance Analysis
8.12.1 Company Profiles
8.12.2 Application Modernization Services Product Profiles, Application and Specification
8.12.3 HCL Sales, Revenue, Price, Gross Margin 2016-2021
8.12.4 Company Recent Development
8.12.5 Strategies for Company to Deal with the Impact of COVID-19
8.13 Cognizant Market Performance Analysis
8.13.1 Company Profiles
8.13.2 Application Modernization Services Product Profiles, Application and Specification
8.13.3 Cognizant Sales, Revenue, Price, Gross Margin 2016-2021
8.13.4 Company Recent Development
8.13.5 Strategies for Company to Deal with the Impact of COVID-19
8.14 Fujitsu Market Performance Analysis
8.14.1 Company Profiles
8.14.2 Application Modernization Services Product Profiles, Application and Specification
8.14.3 Fujitsu Sales, Revenue, Price, Gross Margin 2016-2021
8.14.4 Company Recent Development
8.14.5 Strategies for Company to Deal with the Impact of COVID-19
8.15 Capgemini Market Performance Analysis
8.15.1 Company Profiles
8.15.2 Application Modernization Services Product Profiles, Application and Specification
8.15.3 Capgemini Sales, Revenue, Price, Gross Margin 2016-2021
8.15.4 Company Recent Development
8.15.5 Strategies for Company to Deal with the Impact of COVID-19
9 Global Application Modernization Services Market Analysis and Forecast by Type and Application
9.1 Global Application Modernization Services Market Revenue & Volume Forecast, by Type (2021-2026)
9.1.1 Cobol Market Revenue and Volume Forecast (2021-2026)
9.1.2 ADA Market Revenue and Volume Forecast (2021-2026)
9.1.3 PL/1 Market Revenue and Volume Forecast (2021-2026)
9.1.4 RPG Market Revenue and Volume Forecast (2021-2026)
9.1.5 Assembler Market Revenue and Volume Forecast (2021-2026)
9.1.6 PowerBuilder Market Revenue and Volume Forecast (2021-2026)
9.1.7 Others Market Revenue and Volume Forecast (2021-2026)
9.2 Global Application Modernization Services Market Revenue & Volume Forecast, by Application (2021-2026)
9.2.1 Emulation Market Revenue and Volume Forecast (2021-2026)
9.2.2 Translation Market Revenue and Volume Forecast (2021-2026)
9.2.3 Business Rules Extraction Market Revenue and Volume Forecast (2021-2026)
10 Application Modernization Services Market Supply and Demand Forecast by Region
10.1 North America Market Supply and Demand Forecast (2021-2026)
10.2 Europe Market Supply and Demand Forecast (2021-2026)
10.3 China Market Supply and Demand Forecast (2021-2026)
10.4 Japan Market Supply and Demand Forecast (2021-2026)
10.5 Middle East and Africa Market Supply and Demand Forecast (2021-2026)
10.6 India Market Supply and Demand Forecast (2021-2026)
10.7 South America Market Supply and Demand Forecast (2021-2026)
10.8 South Korea Market Supply and Demand Forecast (2021-2026)
10.9 Southeast Asia Market Supply and Demand Forecast (2021-2026)
10.10 Explanation of Market Size Trends by Region
10.11 Application Modernization Services Market Trends Analysis
11 New Project Feasibility Analysis
11.1 Industry Barriers and New Entrants SWOT Analysis
11.2 Analysis and Suggestions on New Project Investment
12 Expert Interview Record
13 Research Finding and Conclusion
14 Appendix
14.1 Methodology
14.2 Research Data Source
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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