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Mainframe Modernization Services Market Skyrockets to $86.14 Billion by 2031 Dominated by Tech Giants – Accenture, Capgemini and Cognizant | The Insight Partners

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The global mainframe modernization services market is set for explosive growth, with projections indicating a surge to $86.14 billion by 2031. This remarkable expansion, driven by rising adoption of mainframe modernization services and increasing digital transformation across the globe.

NEW YORK, Nov. 12, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, “Mainframe Modernization Services Market Size and Forecast (2021 – 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Services (Application Modernization, Cloud Migration, and Data Modernization), Enterprise Size (Large Enterprises and SMEs), End-Use Industry (IT and Telecom, BFSI, Healthcare, Manufacturing, Retail, Education, and Others), and Geography”.

For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/mainframe-modernization-services-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the mainframe modernization services market comprises a vast array of services enterprise size, end users and geography which are expected to register strength during the coming years.

For More Information and To Stay Updated on The Latest Developments in The Mainframe Modernization Services Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00028613/

Market Overview and Growth Trajectory:

Mainframe Modernization Services Market Growth: According to an exhaustive report by The Insight Partners, the Mainframe Modernization Services Market is experiencing significant growth, driven by digital transformation across the globe and growing adoption of cloud computing. The market, valued at $33.55 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 12.5% during 2023–2031.

Technological Innovations: The integration of AI and machine learning is emerging as a key trend in the mainframe modernization services market, transforming how organizations approach legacy system modernization. Mainframe users nowadays are searching for ways to leverage AI and machine learning to enhance availability and performance, proactively detect problems, and accelerate application releases and DevOps procedures. Artificial intelligence, generative AI and machine learning can help accelerate mainframe modernization services. AI and ML technologies can analyze vast amounts of legacy code and data, helping to streamline the modernization process. These tools can automatically identify dependencies, assess code quality, and even suggest optimization strategies. This not only accelerates the modernization timeline but also reduces the risk of errors that can occur during manual code analysis.

The Rise in Adoption of Mainframe Modernization Services in Various Sectors: The IT and telecom sector experienced significant growth with the integration of emerging technologies such as the Internet of Things (IoT), automation, machine learning, and artificial intelligence (AI). Technologically advanced companies are prioritizing mainframe modernization services for the efficient operation of the systems. The mainframe modernization services help in migrating the mainframe applications to the cloud applications using API, microservices, and DevOps. Mainframe systems combine high-performance hardware, software tools, and large individual programmed applications that need modernization services for efficient operation.

Stay Updated on The Latest Mainframe Modernization Services Market Trends: https://www.theinsightpartners.com/sample/TIPRE00028613/

Digital Transformation Across the Globe: Digital technologies are transforming communications, business, health, education, finance, etc. The COVID-19 pandemic increased the adoption of digital technologies and enhanced productivity. Digitization saved many companies during the pandemic by adapting to remote work cultures and online operations. Developing economies such as India, China, South Africa, Brazil, and Argentina are adopting advanced digital technologies in various sectors, such as healthcare, manufacturing, energy and power, and IT & telecom, to enhance productivity and economic growth. For instance, the Digital India initiatives launched by the Indian government improved the online infrastructure and increased internet accessibility in most of the rural areas. According to Cisco, by 2024, around 75% of start-ups in Canada will have a digital-first strategy. Moreover, over 50% of SMEs re-organized their company structure in Canada. Such rising adoptions of digital technologies have increased the demand for robust IT infrastructure and are driving the mainframe modernization services market.

Geographical Insights: North America dominated the mainframe modernization services market in 2023. Europe is the second-largest contributor to the global mainframe modernization services market, followed by Asia Pacific.

Mainframe Modernization Services Market Segmentation, Applications, Geographical Insights:

Based on services, the mainframe modernization services market is segmented into application modernization, cloud migration, and data modernization. The application modernization segment dominated the market in 2023.By enterprise size, the market is bifurcated into SMEs and large enterprises. The large enterprises segment dominated the market in 2023.In terms of end-use industry, the market is segmented into IT and telecom, BFSI, retail, healthcare, government, media and entertainment, manufacturing, education, and others. The IT and telecom segment held the largest market share in 2023.The mainframe modernization services market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

Purchase Premium Copy of Global Mainframe Modernization Services Market Size and Growth Report (2023-2031) at: https://www.theinsightpartners.com/buy/TIPRE00028613/

Key Players and Competitive Landscape:

The Mainframe Modernization Services Market is characterized by the presence of several major players, including:

AccentureCapgeminiCognizantAmazon Web Services, Inc.Infosys LimitedFujitsuHCL Technologies LimitedWipro DigitalIBMEnsonoTata Consultancy Services LimitedAtos SEHexaware Technologies LimitedMicrosoftDXC Technology CompanyEPAM Systems, Inc.Innova SolutionsOracle; MphasisSoftware AG

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Mainframe Modernization Services Market Recent Developments and Innovations:

‘Accenture Federal Services had been awarded the US Army’s Enterprise Application Modernization and Migration (EAMM) contract with a potential value of US$ 127 million. Accenture Federal Services will use its cloud migration and modernization approach to perform large-scale application assessments, migrations, and modernizations to the cloud.”Fujitsu announced the Japan market launch of its successful modernization automation service ‘Fujitsu PROGRESSION,’ building on a proven track of over 50 global use cases in which it migrated legacy systems to the Fujitsu mainframe ‘GS21 Series.’ ‘Fujitsu PROGRESSION’ is a service that automatically converts script written in COBOL into Java or C# while preserving the functionality of applications built on mainframes. It delivers modernization services for end-to-end support, from drafting migration plans based on customer systems audits to asset migration through to testing and operation.’

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Mainframe Modernization Services Market Drivers, Challenges, Future Outlook and Opportunities:

In terms of revenue, North America dominated the mainframe modernization services market share, followed by Europe and APAC. According to the International Trade Administration, the US accounts for one-third of the US$ 5 trillion worldwide information technology (IT) market, making it the world’s largest. In addition, the IT sector supports the employment of 12.1 million people and contributes ~US$ 1.9 trillion to the US value-added GDP. Furthermore, according to CompTIA, there are over 557,000 software and IT service companies in the US. As per the International Trade Administration, the ICT industry in Canada comprises more than 43,200 businesses. The majority of these companies operate in the computer services and software sectors. The industry is primarily made up of small businesses, with ~35,500 employing fewer than ten people. There are nearly 100 significant companies, including subsidiaries of international multinational corporations, that employ more than 500 people. Having such a big IT industry in the region is raising the need for mainframe modernization services. According to the Canada Health Infoway, Canadians are embracing digital health services, and it is also estimated that the demand for digital healthcare services will increase in the coming year. According to an online survey conducted in November 2022 with 12,445 Canadians, 94% of Canadians were interested in accessing digital health services. Thus, growing digitization in the healthcare sector is projected to raise the need for mainframe modernization services.

Cloud computing adoption is a strategic move by companies to reduce costs, mitigate risks, and achieve scalability of database functions. Industries such as healthcare, marketing & advertising, retail, finance, and education are highly benefitted from the adoption of cloud computing. For instance, due to digital and social consumer behavior and the rising demand for accessible and secure electronic health records (EHRs), hospitals, clinics, and other medical institutions are increasingly utilizing cloud computing for document storage, marketing, and human resources management. In addition, efficient expense management, human resources, and customer communications are the key business needs of financial organizations, driving the need for cloud computing for placing their email platforms and marketing tools on the cloud. According to the Flexera 2022 State of the Cloud Report, the Americas has 63% heavy cloud users, 23% moderate cloud users, and 14% light cloud users.

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Modernized mainframe systems seamlessly integrate with other systems, applications, and data sources, enabling the creation of new business models and revenue streams. Additionally, modernization helps companies address the challenges of an aging workforce, reduce maintenance and operational costs, and improve system performance and scalability. In December 2022, AWS partnered with IBM to drive the mainframe modernization. Through this partnership, organizations bridge the gap by leveraging a hybrid strategy (e.g., mainframe modernization), integrating on-premises mainframe with cloud development, and beginning to leverage the scalability and agility benefits of cloud computing.

Conclusion:

The concept of modernization has expanded as companies explore different approaches to deliver robust enterprise-level IT services, from interface and platform updates to data management and language innovation. This trend toward more comprehensive modernization strategies has recently gained momentum. Over the past year, both new and established players have consolidated their presence in this market, indicating the potential of this space for significant returns. The movement among providers represents a decisive and positive change and promotes healthy debate within the industry.

Key factors driving the growth of the mainframe modernization services market include the rise in the adoption of mainframe modernization services in various sectors, digital transformation across the globe, and the growing adoption of cloud computing. However, challenges faced by IT companies in mainframe modernization are the key restraints in the market. Nevertheless, the growth of the data analytics industry across the globe is expected to create opportunities for the key players operating in the mainframe modernization services market. Furthermore, an increase in investment toward the transformation of IT infrastructure to provide efficient operation and services to consumers is expected to be the key future trend in the mainframe modernization services market from 2023 to 2031.

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With projected growth to $86.14 billion by 2031, the Mainframe Modernization Services Market represents a significant opportunity for software and services providers, system integrators, investors, industry stakeholders and end users. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

Related Report Titles:

Application Modernization Services Market Size and Forecasts (2021 – 2031)Application Modernization Tools Market to Reach US$ 36.86 Bn at a CAGR of 18.7% in 2027Cloud Migration Services Market Statistics Report – Size, Share & Forecast 2030Cloud Migration Market Size and Forecasts (2021 – 2031)Cloud Computing Services Market Size and Forecasts (2021 – 2031)Cloud Computing Market Share, Size and Trends| 2028Artificial Intelligence Market Size and Forecasts (2021 – 2031)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com 
Phone: +1-646-491-9876
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Cineverse Podcast Network Expands with Midnight Pulp and RetroCrush Audio Series, and New True Crime Show Creepy Places

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New Shows Join Top-10 Podcast Network as it Celebrates Record Growth Driven by Popular Horror Lineup Under the BloodyFM Sub-brand

LOS ANGELES, Nov. 25, 2024 /PRNewswire/ — Cineverse Podcast Network, the audio division of next-gen entertainment studio Cineverse (Nasdaq: CNVS), has today announced a major expansion that goes well beyond its horror roots. Now home to popular entertainment, true crime and horror podcasts, the Cineverse Podcast Network is well-positioned to build upon its recent success.

In fact, Cineverse has grown its podcast revenue 98% during the fiscal quarter that ended Sept. 30 year over year and 60% from the previous quarter. The Cineverse Podcast Network also recorded 15 million downloads and listens in October, setting a new monthly record.

Among the drivers of this growth is Creepy Places: A True Crime Podcast, which recently launched via a partnership between Cineverse’s fan-first horror brand Bloody Disgusting and host Jon Grilz. The popular show at the intersection of true crime and historical hauntings has attracted 1.3 million monthly downloads since premiering in September and joins other additions to Cineverse’s growing podcast portfolio:

The iconic horror brand Dead Meat brings its dedicated fan base and over 200 episodes to Cineverse with the recently signed Dead Meat Podcast, hosted by Chelsea Rebecca and James A. Janisse, creators of the Dead Meat YouTube channel with over 6.6 million subscribers.Extending Cineverse’s popular action/cult movie streaming brand of the same name, Midnight Pulp will premiere in 2025. Hosted by Diana Prince, who plays “Darcy the Mail Girl” on Shudder’s top series The Last Drive-in with Joe Bob Briggs, each episode of the podcast will explore an entry from the streaming video channel, with Prince taking questions from listeners on everything from relationship advice to movie recommendations.Following a soft launch earlier this year, RetroCrush is Cineverse’s first official podcast created for anime fans. Hosts Malcolm Crawford, C2 and “it’s Eman” – three well-known anime fans – explore the hidden gems and popular shows featured on Cineverse’s RetroCrush streaming channel in weekly episodes.

“From partnering with talent and IP that come with pre-existing fan bases, to leveraging our owned-and-operated brands like Bloody Disgusting, Midnight Pulp and RetroCrush – all part of the company through strategic acquisitions from the past few years – we have quietly built one of the industry’s top podcast networks,” said Cineverse President and Chief Strategy Officer Erick Opeka. “Creators and partners – including advertisers, platforms and studios – are seeing this success and now coming to us to explore opportunities to work together in audio, and we are well-positioned to grow even further in the new year.”

These new podcasts follow other recently released shows on the Cineverse Podcast Network:

Mayfair Watchers Society: The chart-topping fiction podcast returned in May with Season 2, featuring 24 episodes every other week. Created in partnership with Trevor Henderson, the author of Scarewaves and prominent horror artist, the series brings Henderson’s creatures to life and features a full cast, original music and immersive sound design.Nightmare Soup: The horror fiction anthology podcast also premiered earlier this year, taking listeners back to their favorite horror stories from childhood. Inspired by iconic books like Scary Stories to Tell in the Dark and Goosebumps, the 10-episode series airs every other Sunday.

Now home to more than 50 shows and ranking among the top 10 podcast networks by audience, the Cineverse Podcast Network has set the stage for significant ad sales growth over the next few quarters.

ABOUT CINEVERSE

On a mission to uplift storytellers and entertain fans with the power of technology, Cineverse  (NASDAQ: CNVS) distributes over 71,000 premium films, series, and podcasts. Engaging over 150 million unique monthly users, Cineverse delivers more than one billion minutes of curated content each month – connecting fans with stories that resonate.

With properties like the box office sensation Terrifier 3, iconic horror destination Bloody Disgusting, the Bob Ross Channel, women’s entertainment channel Dove, and a leading podcast network, Cineverse is the first stop for audiences seeking authentic and experiential content. From a vibrant range of content and fandom channels, to next-gen advertising offerings and streaming solutions, Cineverse is setting the stage for a new era of entertainment.

Press Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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Neighborly Appoints Stacy Lynn Bourgeois as Chief Marketing Officer

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WACO, Texas, Nov. 25, 2024 /PRNewswire/ —  Neighborly®, the world’s largest home services company, today announced the appointment of Stacy Lynn Bourgeois as its new Chief Marketing Officer (CMO), effective December 2. She will serve as a member of Neighborly’s corporate leadership team and report directly to CEO Mike Davis.

Stacy Lynn brings a wide array of experience in business and brand strategy, organizational leadership, customer insight, data analytics, and marketing technology,” said Davis. “Her expertise and innovative approach to marketing will be instrumental in helping us better connect with our customers, differentiating our brands, making Neighborly and our service brands ridiculously easy to do business with while navigating an increasingly competitive landscape.”

The fanatical focus on the end consumer also serves Neighborly’s core mission of driving same-store sales growth with its franchise business owners. Bourgeois’ mixed background in both franchising and non-franchised business makes her uniquely qualified to deliver for both our customers, end-consumers, and franchise business owners.

Bourgeois is a strategic marketer who has driven double-digit growth while compiling a breadth of experiences. Throughout her career, she has launched new physical and digital products as well as a new restaurant concept at Yum! brands, stood up several new teams such as performance marketing and data science, implemented a new marketing technology stack, and led Pizza Hut through an agency review and countless creative campaigns.

She joins Neighborly from Amazon, where she broadened her scope from marketing to business more holistically in roles such as Global Head of Product, Quality & Operations for Amazon Renewed or U.S. Head of Musical Instruments. In her time with Amazon, she’s enhanced the discoverability of preowned products, increased conversion rates, simplified customer experience, improved operations, and owned a multibillion-dollar P&L. Even in general management-focused roles, she’s anchored on driving growth through the customer – such as offering free lessons with an instrument purchase on Amazon.

I am thrilled to be joining the incredible team at Neighborly and support our franchise owners,” said Bourgeois. “Customers invite Neighborly and our brands into their homes, which is deeply personal and requires tremendous trust. My goal is to earn this trust by listening to and innovating for customers in a way that builds lasting relationships with our amazing brands.”

Bourgeois will be based in Irving, Texas.

About Neighborly®

Neighborly® is the world’s largest home services company with more than 30 brands and 5,500 franchises collectively serving 14 million+ customers by repairing, maintaining, and enhancing their homes and businesses. Through Neighborly.com and the Neighborly mobile app, we connect consumers to local service providers that meet rigorous franchisor standards across 19 service categories. More information about Neighborly, and its franchise concepts, is available at Neighborlybrands.com. To learn about franchising opportunities with Neighborly, click here.

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SOURCE Neighborly

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EHA Highlights Commitment to Innovation and Collaboration at ASH Annual Meeting

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THE HAGUE, Netherlands, Nov. 25, 2024 /PRNewswire/ — The European Hematology Association (EHA) will showcase its dedication to advancing research and fostering collaboration at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition from December 7-10, 2024, in San Diego, California, USA.

The partnership between EHA and ASH is testament to both organizations’ commitment to progress and improving patient care. The EHA-ASH Joint Symposium, scheduled for Sunday, December 8 from 12:30-13:30 (PDT), will focus on myelodysplastic syndromes, showcasing expert insights from Amy DeZern of Johns Hopkins University and Matteo Della Porta of Humanitas Cancer Center. EHA President Antonio Almeida remarked, “The collaboration between EHA and ASH holds immense significance for the global medical community. Both organizations serve as pivotal platforms for advancing the understanding, research, education, and treatment of blood disorders. […] By combining our strengths, together, we can enhance research, education, advocacy, and patient care, generating significant benefits that resonate across nations and communities.” This joint session is another milestone in a fruitful collaboration that continues to shape the future of hematology.

In 2024, EHA reached unprecedented levels of engagement, connecting more professionals than ever. Membership surged by 25%, bringing EHA’s community to over 8,300 members, and the EHA2024 Congress attracted a record-breaking 17,900 delegates. This growth reflects EHA’s commitment to a member-focused approach, empowering professionals to exchange knowledge, collaborate on research, and share best practices on a global scale.

HemaSphere, EHA’s peer-reviewed journal, has recently achieved a significant milestone with a 2023 Impact Factor of 11.9, ranking it seventh among hematology journals globally. This development is a testament to the high-quality, cutting-edge research that HemaSphere publishes and its value to the hematology community.

With a vision for “Borderless Hematology,” EHA will continue to drive global connectivity, innovation, and excellence.

ASH delegates are invited to learn about EHA at booth #300.

About EHA

The European Hematology Association (EHA) is a membership organization serving a community of over 8,000 medical professionals, researchers, and scientists with an active interest in hematology. EHA is the largest Europe-based organization connecting hematologists worldwide and supports career development and research, harmonizes hematology education, and advocates for hematologists and hematology.

Website: www.ehaweb.org

“Towards prevention, cure, and quality of life for all patients with blood disorders”.

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SOURCE European Hematology Association (EHA)

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