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UK Industry Vertical Modernization Services Market By Type (Industry Vertical Portfolio Assessment, Cloud Industry Vertical Migration, Industry Vertical Replatforming, Industry Vertical Integration, Industry Vertical Retirements); By Industry Vertical (BFSI, IT and Telecom, Retail and E-commerce, Healthcare, Others); By Deployment Mode (On-Premises, Cloud); By Enterprise Size (Small and Medium Enterprises (SMEs), Large Enterprises); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

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Published: | Report ID: 70641 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period  2019-2022
Base Year  2023
Forecast Period  2024-2032
UK Industry Vertical Modernization Services Market Size 2023  USD 76.54 Million
UK Industry Vertical Modernization Services Market, CAGR  14.55%
UK Industry Vertical Modernization Services Market Size 2032  USD 226.88 Million

Market Overview

The UK Industry Vertical Modernization Services Market is projected to grow from USD 76.54 million in 2023 to USD 226.88 million by 2032, with a compound annual growth rate (CAGR) of 14.55%.

The UK Industry Vertical Modernization Services market is driven by the increasing demand for digital transformation across various industries, including manufacturing, retail, and healthcare. Organizations are adopting modernization strategies to enhance operational efficiency, improve customer experiences, and reduce costs. The rise of automation, cloud computing, and data analytics is further fueling the demand for modernization services, enabling businesses to stay competitive in an evolving market. Additionally, the need to upgrade legacy systems to support advanced technologies and ensure regulatory compliance is a significant driver. The market is also experiencing a shift toward scalable, cloud-based solutions that offer flexibility and cost-effectiveness. Furthermore, the growing focus on sustainability and energy efficiency in industrial operations is pushing companies to adopt modernized, eco-friendly systems. As businesses continue to prioritize innovation and adaptability, the UK Industry Vertical Modernization Services market is poised for substantial growth over the coming years.

The UK Industry Vertical Modernization Services market is characterized by regional diversity, with key players offering tailored solutions to meet the needs of various sectors. London, Manchester, Birmingham, and Scotland are the primary regions driving demand, with each focusing on different aspects of digital transformation. Key players such as Capgemini, Atos SE, SAP SE, Siemens AG, and Accenture play a pivotal role in shaping the market by providing services such as cloud migration, system integration, and portfolio assessments. These companies have a strong presence across various industries, including BFSI, IT and Telecom, healthcare, and retail, helping businesses modernize their legacy systems and implement advanced technologies. As the demand for industry-specific solutions grows, these global players are well-positioned to lead the market by offering customized, scalable, and cost-effective modernization services tailored to the diverse needs of businesses across the UK.

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Market Insights

  • The UK Industry Vertical Modernization Services market is projected to grow from USD 76.54 million in 2023 to USD 226.88 million by 2032, at a CAGR of 14.55%.
  • Increased digital transformation across various industries, including manufacturing, retail, and healthcare, is driving the demand for modernization services.
  • Cloud adoption, data-driven decision-making, and automation technologies are key market trends pushing businesses towards modernization.
  • Companies like Capgemini, Atos SE, SAP SE, and Accenture dominate the competitive landscape, offering tailored solutions for legacy system modernization and cloud migration.
  • High implementation costs and resistance to change within organizations are major restraints in the market.
  • Regional analysis reveals London and Manchester as the leading regions, with a significant focus on digital transformation initiatives in healthcare, retail, and BFSI.
  • The increasing focus on sustainability and energy-efficient solutions presents a growing opportunity for modernization services.

Market Drivers

Digital Transformation Across Industries

One of the key drivers of the UK Industry Vertical Modernization Services market is the growing demand for digital transformation. As industries such as manufacturing, retail, and healthcare increasingly adopt advanced technologies, modernization services are essential for improving operational efficiency and staying competitive. For instance, a report by the UK Government Digital Service (GDS) highlighted that digital transformation initiatives have significantly improved operational efficiency and service delivery across various sectors. Companies are implementing automation, artificial intelligence, and machine learning solutions to optimize their processes, which in turn drives the need for modernized systems that can handle these innovations effectively.

Shift Towards Cloud-Based Solutions

The shift to cloud-based services is another significant driver. As businesses seek more scalable and cost-effective solutions, cloud computing has become a critical component of industry vertical modernization. Cloud-based platforms enable businesses to enhance their flexibility, ensure better data storage, and access real-time analytics, thereby improving decision-making. This trend is accelerating the adoption of modernization services, with companies moving away from traditional infrastructure to cloud technologies that allow for seamless integration and enhanced agility.

Need to Upgrade Legacy Systems

The growing need to upgrade legacy systems is a major factor driving the market. Many organizations in the UK are operating with outdated technology that is unable to support modern business requirements. Upgrading these legacy systems is essential for improving functionality, security, and scalability. For instance, a report by the Office for National Statistics (ONS) emphasized that legacy systems are a significant barrier to digital transformation in the public sector, highlighting the need for modernization. Legacy systems often hinder the ability to adopt new technologies, resulting in lost opportunities and inefficiencies. Modernization services help businesses replace or re-engineer legacy platforms to better align with contemporary needs, ensuring smoother operations and compliance with current regulations.

Focus on Sustainability and Efficiency

Sustainability and energy efficiency are becoming increasingly important in business strategies. Companies across industries are adopting more environmentally friendly and energy-efficient systems to meet regulatory standards and reduce operational costs. Modernization services are playing a pivotal role in this transition, providing solutions that reduce energy consumption and carbon footprints. For instance, according to the Office for National Statistics, UK businesses are increasingly taking action to reduce their greenhouse gas emissions and improve energy efficiency. By updating equipment, processes, and infrastructure to be more sustainable, businesses can not only enhance their operational efficiency but also contribute to broader environmental goals, thus driving the demand for modernization services.

Market Trends

Adoption of Advanced Technologies

A prominent trend in the UK Industry Vertical Modernization Services market is the widespread adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), and Internet of Things (IoT). These technologies are revolutionizing various industries by enabling smarter decision-making, process automation, and enhanced data insights. For instance, the UK government’s AI Opportunities Action Plan highlights the country’s ambition to lead in AI adoption across sectors like life sciences and financial services. Modernization services are increasingly integrating these innovations into legacy systems, helping organizations unlock new capabilities and improve overall business performance. The continuous advancement of AI and ML technologies is fostering a shift toward more intelligent, data-driven operations, further propelling the demand for modernization services.

Focus on Data-Driven Decision Making

Another key trend is the growing emphasis on data-driven decision-making. With businesses accumulating vast amounts of data, the ability to analyze and utilize it effectively has become crucial. Modernization services are helping organizations transition to data-centric environments, enabling real-time analytics, predictive insights, and enhanced decision-making. Companies are increasingly investing in advanced data management systems that support these capabilities, leading to greater operational efficiencies and competitive advantages. The need to harness the power of big data is driving a surge in modernization services across sectors.

Shift Towards Industry-Specific Solutions

A notable trend is the increasing demand for industry-specific modernization solutions. While many businesses have traditionally relied on generic modernization approaches, there is now a growing trend toward tailored solutions that address the unique challenges of specific industries. For example, manufacturing firms may require modernization services focused on automation and production optimization, while healthcare organizations might prioritize the integration of electronic health records and patient management systems. Customization and specialization in modernization services are allowing businesses to address their specific pain points more effectively, contributing to market growth.

Emphasis on Cybersecurity and Compliance

With the increasing digitization of industries, there is a heightened focus on cybersecurity and regulatory compliance. Modernized systems are designed to be more secure, protecting businesses from cyber threats and ensuring adherence to industry regulations. Organizations are recognizing the importance of integrating robust security measures into their modernization strategies, driving the demand for services that prioritize cybersecurity. As businesses face growing scrutiny from regulators and customers alike, investing in secure, compliant systems has become a critical trend within the market.

Market Challenges Analysis

High Implementation Costs

One of the primary challenges in the UK Industry Vertical Modernization Services market is the high cost of implementation. Modernizing legacy systems often requires significant investment in new technologies, infrastructure, and skilled labor. For instance, the UK Budget 2024 highlighted that rising employment costs and increased National Insurance Contributions are putting additional financial pressure on SMEs. Many businesses, particularly small and medium-sized enterprises, face budget constraints that make it difficult to allocate funds for comprehensive modernization projects. These upfront costs, coupled with the potential for unforeseen expenses during implementation, can create a barrier to modernization. As companies navigate tight budgets and economic uncertainty, finding cost-effective solutions that still deliver the required performance and scalability remains a key challenge.

Resistance to Change and Skill Gaps

Another challenge in the market is the resistance to change within organizations and the lack of skilled professionals to support modernization efforts. Many businesses have been relying on outdated systems for years and are hesitant to overhaul them due to concerns about disruptions, downtime, and the potential risks of migrating to new platforms. Additionally, there is a shortage of skilled professionals who possess the expertise to handle the complexities of modernization projects, including integrating advanced technologies like AI, IoT, and cloud computing. This skill gap exacerbates the challenges faced by organizations seeking to implement modernization services, potentially leading to delays, increased costs, and project failures. Addressing these barriers requires effective change management strategies and investment in training and development programs to upskill the workforce.

Market Opportunities

Expansion of Cloud-Based Solutions

One of the key opportunities in the UK Industry Vertical Modernization Services market lies in the expansion of cloud-based solutions. As businesses increasingly migrate to the cloud, there is a growing demand for modernization services that facilitate seamless transitions. Cloud computing offers several benefits, including scalability, cost-effectiveness, and flexibility, making it an attractive option for organizations across various sectors. Modernization services that support the migration to cloud environments, integration with existing systems, and optimization for performance are in high demand. With the ongoing shift towards remote work and the need for enhanced data management, businesses in the UK are actively seeking modernization solutions that can enhance their cloud capabilities, presenting a significant growth opportunity for service providers.

Focus on Industry-Specific Solutions and Sustainability

Another promising opportunity is the growing demand for industry-specific modernization services. Tailoring solutions to meet the unique needs of sectors such as manufacturing, healthcare, and retail can provide businesses with a competitive edge by addressing their specific challenges. Additionally, the increasing focus on sustainability and energy efficiency presents another avenue for modernization services. Companies are prioritizing eco-friendly, energy-efficient systems as part of their modernization strategies to reduce their environmental impact and comply with regulatory standards. Service providers that offer solutions focused on sustainability, alongside industry-specific optimizations, are well-positioned to capitalize on these emerging trends. As businesses strive for greater efficiency and environmental responsibility, modernization services can play a pivotal role in driving both operational and environmental improvements.

Market Segmentation Analysis:

By Type:

The UK Industry Vertical Modernization Services market is segmented by type into several categories that address distinct business needs. Industry Vertical Portfolio Assessment involves evaluating existing systems and identifying areas for modernization, helping organizations optimize their technology landscape. Cloud Industry Vertical Migration focuses on transitioning legacy systems to cloud platforms, offering scalability and enhanced performance. Industry Vertical Replatforming targets the process of moving applications to new platforms to improve functionality, while Industry Vertical Integration ensures seamless interoperability between disparate systems. Finally, Industry Vertical Retirements focuses on the decommissioning of outdated systems and ensuring smooth transitions to more advanced technologies. These services cater to businesses seeking to improve operational efficiency, reduce costs, and leverage cutting-edge technologies.

By Industry Vertical:

The market is also segmented based on industry verticals, with each sector adopting modernization services to address its specific challenges. The BFSI sector is increasingly focusing on digital transformation to enhance customer experiences and comply with regulatory standards. The IT and Telecom industry is prioritizing cloud migration and system integration to stay competitive. Retail and E-commerce businesses are leveraging modernization services to improve supply chain management, customer engagement, and data analytics. The Healthcare sector is embracing digital solutions to streamline patient care and enhance operational efficiency. Additionally, other industries such as manufacturing and education are also investing in modernization services to optimize their operations and adapt to the digital age. These segments highlight the diverse range of applications for modernization services across different industries in the UK market.

Segments:

Based on Type:

  • Industry Vertical Portfolio Assessment
  • Cloud Industry Vertical Migration
  • Industry Vertical Replatforming
  • Industry Vertical Integration
  • Industry Vertical Retirements

Based on Industry Vertical:

  • BFSI
  • IT and Telecom
  • Retail and E-commerce
  • Healthcare
  • Others

Based on Deployment Mode:

  • On-Premises
  • Cloud

Based on Enterprise Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

Based on the Geography:

  • London
  • Manchester
  • Birmingham
  • Scotland

Regional Analysis

London

London, as the capital and economic hub of the UK, holds the largest market share in the Industry Vertical Modernization Services sector, accounting for approximately 35% of the overall market. The region’s dominance is attributed to the presence of numerous multinational corporations, financial institutions, and technology-driven businesses that continually seek to modernize their operations to stay competitive. London is home to many sectors, including BFSI, IT and Telecom, and Retail, which heavily invest in digital transformation initiatives. Additionally, London’s infrastructure supports extensive cloud adoption and advanced digital services, driving the demand for modernization services. Businesses in the capital are increasingly focusing on cloud migration, system integration, and digital portfolio assessments to improve efficiency, security, and customer engagement. The region’s concentration of skilled professionals, along with its robust technological ecosystem, further enhances its position in the market.

Manchester

Manchester ranks second, holding around 25% of the UK Industry Vertical Modernization Services market share. As a leading city in the North, Manchester has established itself as a strong contender in the digital transformation landscape. The region is increasingly adopting modernization services, particularly in the IT and Telecom, healthcare, and retail sectors. Manchester’s strong industrial background has facilitated a shift toward more technology-driven solutions, especially in manufacturing and supply chain operations. The city’s growing tech hub is fostering innovation and attracting businesses looking to optimize their legacy systems and improve operational performance. Furthermore, Manchester benefits from government initiatives that promote digital innovation and support businesses in adopting modernization services. This has led to an increased demand for cloud industry vertical migration and industry-specific replatforming solutions in the region.

Birmingham

Birmingham holds around 20% of the market share in the UK Industry Vertical Modernization Services sector. As a prominent industrial and commercial center in the Midlands, Birmingham is witnessing significant growth in demand for modernization services, particularly in sectors such as healthcare, retail, and BFSI. The region is undergoing substantial digital transformation, with a focus on integrating cloud technologies, optimizing legacy systems, and improving business agility. Birmingham’s position as a hub for advanced manufacturing and logistics also drives modernization efforts in these sectors. Companies in the region are increasingly looking to adopt industry-specific solutions, such as cloud-based services and system integration, to enhance efficiency and ensure compliance with evolving industry regulations. The growth of technology-focused businesses and the rise of digital adoption in Birmingham are expected to continue fueling the demand for modernization services.

Scotland

Scotland represents approximately 20% of the market share in the UK Industry Vertical Modernization Services. The region is seeing a rise in digital transformation initiatives, particularly in industries like healthcare, energy, and finance. Scotland’s strong focus on innovation and sustainability has led to an increased adoption of eco-friendly modernization solutions, such as energy-efficient data centers and cloud-based systems. Modernization services in Scotland are being driven by a mix of public sector investments and private sector demand for enhanced business performance. In particular, the healthcare sector is prioritizing the integration of electronic health records and patient management systems, while the energy sector is looking for ways to optimize operations through digital solutions. With Edinburgh and Glasgow emerging as key tech hubs, the demand for industry vertical replatforming and migration services is expected to rise steadily, as businesses seek to modernize their operations and improve competitiveness.

Key Player Analysis

  • Capgemini
  • Atos SE
  • SAP SE
  • Siemens AG
  • Accenture
  • TCS (Tata Consultancy Services)
  • Cognizant
  • IBM Corporation
  • Infosys
  • Wipro

Competitive Analysis

The UK Industry Vertical Modernization Services market is highly competitive, with several global players dominating the landscape. Leading companies such as Capgemini, Atos SE, SAP SE, Siemens AG, Accenture, TCS (Tata Consultancy Services), Cognizant, IBM Corporation, Infosys, and Wipro are major contributors to the market’s growth. These companies offer comprehensive modernization solutions that cater to various industry verticals, including BFSI, healthcare, retail, and IT & Telecom. They focus on key services like cloud migration, system integration, industry-specific portfolio assessments, and replatforming to help businesses optimize their legacy systems and adopt advanced technologies. For instance, Capgemini’s collaboration with the UK government on digital transformation projects has significantly enhanced public sector services. Many of these companies leverage their technological capabilities, large-scale infrastructure, and strategic alliances to deliver scalable and cost-effective modernization services to a broad customer base. The competition is further intensified by the growing demand for automation and data-driven solutions, which has driven many players to invest in cutting-edge technologies such as AI, machine learning, and IoT. As businesses seek to modernize their legacy systems and adopt advanced technologies, companies offering comprehensive, customized solutions have a significant competitive advantage. To stay ahead, market leaders focus on continuous innovation, research and development, and the expansion of their service portfolios. The ability to offer industry-specific, tailored modernization services that align with the unique needs of various sectors is a key factor in differentiating competitive players in this dynamic market.

Recent Developments

  • In August 2024, Capgemini signed an agreement to acquire Syniti, one of the leading companies in the enterprise data management software and services including platform and migration services. This acquisition will strengthen Capgemini’s data-driven solutions, especially for large-scale SAP transformations like the shift to SAP S/4HANA.
  • In June 2024, Cognizant expanded its partnership with Cengage Group. This move highlights the trend of modernizing educational platforms by integrating advanced technologies to enhance digital learning experiences, reflecting the broader push towards modernizing application infrastructures across sectors.
  • In January 2024, IBM Corporation acquired application modernization capabilities from Advanced, increasing IBM Consulting’s offerings in mainframe application and data modernization services. The acquisition is intended to enhance IBM’s ability to provide a comprehensive range of options for modernizing mainframe applications, aligning with the abilities of IBM Watsonx Code Assistant for Z, a generative AI-assisted tool designed to expedite mainframe application modernization.
  • In January 2024, Accenture acquired Work & Co, enhancing its capabilities in creating innovative digital products. This acquisition reflects the increasing importance of blending design and technology to modernize applications, helping clients improve user experiences and stay competitive in the digital age.

Market Concentration & Characteristics

The UK Industry Vertical Modernization Services market exhibits moderate concentration, with a mix of established global players and emerging regional service providers. Large multinational firms dominate the market, offering comprehensive modernization solutions across various sectors, including BFSI, healthcare, retail, and IT & Telecom. These companies leverage their extensive expertise, technological infrastructure, and large-scale operations to cater to the diverse needs of businesses undergoing digital transformation. However, smaller, specialized firms are gaining traction by offering niche services, such as industry-specific cloud migration or replatforming solutions tailored to particular market segments. The market is characterized by rapid technological advancements, with companies continuously adopting innovative tools and methodologies to enhance their service offerings. Automation, AI-driven solutions, and cloud integration are key features of the modernization services provided. As businesses increasingly demand customized and cost-effective solutions, service providers are adapting to meet these expectations by developing flexible and scalable offerings. Another significant characteristic of the market is the growing emphasis on sustainability, with businesses seeking modernization solutions that optimize energy usage and reduce carbon footprints. Overall, the UK Industry Vertical Modernization Services market is dynamic, with a competitive landscape shaped by both large corporations and agile niche players offering tailored solutions.

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Report Coverage

The research report offers an in-depth analysis based on Type, Industry Vertical, Deployment Mode, Enterprise Size and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

  1. The UK Industry Vertical Modernization Services market is expected to continue its strong growth, driven by the ongoing digital transformation across industries.
  2. Cloud migration will remain a key focus, with businesses increasingly adopting cloud-based solutions to enhance scalability and flexibility.
  3. Automation and AI technologies will play a crucial role in optimizing operations, improving efficiency, and reducing costs for businesses.
  4. Industry-specific solutions will see rising demand, as companies seek tailored modernization services to address unique challenges.
  5. The shift towards sustainable and energy-efficient technologies will present new opportunities in the modernization services sector.
  6. Data-driven decision-making will become more central, with businesses investing in modernized systems that enable real-time analytics and insights.
  7. The healthcare and BFSI sectors will continue to drive market growth due to their urgent need for digital transformation and regulatory compliance.
  8. Small and medium-sized enterprises (SMEs) will increasingly adopt modernization services, driven by the need to remain competitive in the digital age.
  9. Partnerships and collaborations between service providers will increase, enhancing service offerings and extending market reach.
  10. The demand for cybersecurity solutions will rise, as businesses modernize their systems and look to secure sensitive data against growing cyber threats.

CHAPTER NO. 1 : INTRODUCTION 20
1.1.1. Report Description 20
Purpose of the Report 20
USP & Key Offerings 20
1.1.2. Key Benefits for Stakeholders 20
1.1.3. Target Audience 21
1.1.4. Report Scope 21
CHAPTER NO. 2 : EXECUTIVE SUMMARY 22
2.1. Industry Vertical Modernization Services Market Snapshot 22
2.1.1. UK Industry Vertical Modernization Services Market, 2018 – 2032 (USD Million) 23
CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 24
3.1. Russia-Ukraine and Israel-Palestine War Impacts 24
CHAPTER NO. 4 : INDUSTRY VERTICAL MODERNIZATION SERVICES MARKET – INDUSTRY ANALYSIS 25
4.1. Introduction 25
4.2. Market Drivers 26
4.2.1. Increasing adoption of cloud-based technologies 26
4.2.2. Growing need for enhanced scalability and flexibility in IT infrastructure 27
4.3. Market Restraints 28
4.3.1. High costs associated with legacy system transformation 28
4.4. Market Opportunities 29
4.4.1. Rising demand for AI-driven modernization solutions 29
4.5. Porter’s Five Forces Analysis 30
4.6. Buying Criteria 31
CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 32
5.1. Import Analysis by UK 32
5.1.1. UK Industry Vertical Modernization Services Market Import Volume/Revenue, By UK, 2018 – 2023 32
5.2. Export Analysis by UK 33
5.2.1. UK Industry Vertical Modernization Services Market Export Volume/Revenue, By UK, 2018 – 2023 33
CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34
6.1. Demand Analysis by UK 34
6.1.1. UK Industry Vertical Modernization Services Market Demand Volume/Revenue, By UK, 2018 – 2023 34
6.2. Supply Analysis by UK 35
6.2.1. UK Industry Vertical Modernization Services Market Supply Volume/Revenue, By UK, 2018 – 2023 35
CHAPTER NO. 7 : PRODUCTION ANALYSIS 36
7.1. Production Analysis by UK 36
7.1.1. UK Industry Vertical Modernization Services Market Production Volume/Revenue, By UK, 2018 – 2023 36
CHAPTER NO. 8 : PRICE ANALYSIS 37
8.1. Price Analysis by Type 37
8.1.1. UK Industry Vertical Modernization Services Market Price, By Type, 2018 – 2023 37
8.1.2. UK Type Market Price, By Type, 2018 – 2023 37
CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 38
9.1. Key Raw Materials and Suppliers 38
9.2. Key Raw Materials Price Trend 38
CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 39
10.1. Manufacturing Cost Analysis 39
10.2. Manufacturing Process 39
CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 40
11.1. Company Market Share Analysis – 2023 40
11.2. Value Chain Analysis 40
11.2.1. UK Industry Vertical Modernization Services Market: Company Market Share, by Volume, 2023 41
11.2.2. UK Industry Vertical Modernization Services Market: Company Market Share, by Revenue, 2023 42
11.2.3. UK Industry Vertical Modernization Services Market: Top 6 Company Market Share, by Revenue, 2023 42
11.2.4. UK Industry Vertical Modernization Services Market: Top 3 Company Market Share, by Revenue, 2023 43
11.3. UK Industry Vertical Modernization Services Market Company Volume Market Share, 2023 44
11.4. UK Industry Vertical Modernization Services Market Company Revenue Market Share, 2023 45
11.5. Company Assessment Metrics, 2023 45
11.5.1. Stars 45
11.5.2. Emerging Leaders 45
11.5.3. Pervasive Players 45
11.5.4. Participants 45
11.6. Start-ups /SMEs Assessment Metrics, 2023 45
11.6.1. Progressive Companies 46
11.6.2. Responsive Companies 46
11.6.3. Dynamic Companies 46
11.6.4. Starting Blocks 46
11.7. Strategic Developments 47
11.7.1. Acquisitions & Mergers 47
New Product Launch 47
UK Expansion 47
11.8. Key Players Product Matrix 48
CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 49
12.1. PESTEL 49
12.1.1. Political Factors 49
12.1.2. Economic Factors 49
12.1.3. Social Factors 49
12.1.4. Technological Factors 49
12.1.5. Environmental Factors 49
12.1.6. Legal Factors 49
12.2. Adjacent Market Analysis 49
CHAPTER NO. 13 : INDUSTRY VERTICAL MODERNIZATION SERVICES MARKET – BY TYPE SEGMENT ANALYSIS 50
13.1. Industry Vertical Modernization Services Market Overview, by Type Segment 50
13.1.1. Industry Vertical Modernization Services Market Revenue Share, By Type, 2023 & 2032 51
13.1.2. Industry Vertical Modernization Services Market Attractiveness Analysis, By Type 52
13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 52
13.1.4. Industry Vertical Modernization Services Market Revenue, By Type, 2018, 2023, 2027 & 2032 53
13.2. Industry Vertical Portfolio Assessment 54
13.3. Cloud Industry Vertical Migration 55
13.4. Industry Vertical Replatforming 56
13.5. Industry Vertical Integration 57
13.6. Application Retirements 58
CHAPTER NO. 14 : INDUSTRY VERTICAL MODERNIZATION SERVICES MARKET – BY INDUSTRY VERTICAL SEGMENT ANALYSIS 59
14.1. Industry Vertical Modernization Services Market Overview, by Industry Vertical Segment 59
14.1.1. Industry Vertical Modernization Services Market Revenue Share, By Industry Vertical, 2023 & 2032 60
14.1.2. Industry Vertical Modernization Services Market Attractiveness Analysis, By Industry Vertical 61
14.1.3. Incremental Revenue Growth Opportunity, by Industry Vertical, 2024 – 2032 61
14.1.4. Industry Vertical Modernization Services Market Revenue, By Industry Vertical, 2018, 2023, 2027 & 2032 62
14.2. BFSI 63
14.3. IT and Telecom 64
14.4. Retail and E-commerce 65
14.5. Healthcare 66
14.6. Others 67
CHAPTER NO. 15 : INDUSTRY VERTICAL MODERNIZATION SERVICES MARKET – BY DEPLOYMENT MODE SEGMENT ANALYSIS 68
15.1. Industry Vertical Modernization Services Market Overview, by Deployment Mode Segment 68
15.1.1. Industry Vertical Modernization Services Market Revenue Share, By Deployment Mode, 2023 & 2032 69
15.1.2. Industry Vertical Modernization Services Market Attractiveness Analysis, By Deployment Mode 70
15.1.3. Incremental Revenue Growth Opportunity, by Deployment Mode, 2024 – 2032 70
15.1.4. Industry Vertical Modernization Services Market Revenue, By Deployment Mode, 2018, 2023, 2027 & 2032 71
15.2. On-Premises 72
15.3. Cloud 73
CHAPTER NO. 16 : INDUSTRY VERTICAL MODERNIZATION SERVICES MARKET – BY ENTERPRISE SIZE SEGMENT ANALYSIS 74
16.1. Industry Vertical Modernization Services Market Overview, by Enterprise Size Segment 74
16.1.1. Industry Vertical Modernization Services Market Revenue Share, By Enterprise Size, 2023 & 2032 75
16.1.2. Industry Vertical Modernization Services Market Attractiveness Analysis, By Enterprise Size 76
16.1.3. Incremental Revenue Growth Opportunity, by Enterprise Size, 2024 – 2032 76
16.1.4. Industry Vertical Modernization Services Market Revenue, By Enterprise Size, 2018, 2023, 2027 & 2032 77
16.2. Small and Medium Enterprises (SMEs) 78
16.3. Large Enterprises 79
CHAPTER NO. 17 : INDUSTRY VERTICAL MODERNIZATION SERVICES MARKET – UK ANALYSIS 80
17.1. Type 80
17.1.1. UK Industry Vertical Modernization Services Market Revenue, By Type, 2018 – 2023 (USD Million) 80
17.2. UK Industry Vertical Modernization Services Market Revenue, By Type, 2024 – 2032 (USD Million) 80
17.3. Industry Vertical 82
17.3.1. UK Industry Vertical Modernization Services Market Revenue, By Industry Vertical, 2018 – 2023 (USD Million) 82
17.3.2. UK Industry Vertical Modernization Services Market Revenue, By Industry Vertical, 2024 – 2032 (USD Million) 82
17.4. Deployment Mode 83
17.4.1. UK Industry Vertical Modernization Services Market Revenue, By Deployment Mode, 2018 – 2023 (USD Million) 83
17.4.2. UK Industry Vertical Modernization Services Market Revenue, By Deployment Mode, 2024 – 2032 (USD Million) 83
17.5. Enterprise Size 84
17.5.1. UK Industry Vertical Modernization Services Market Revenue, By Enterprise Size, 2018 – 2023 (USD Million) 84
17.5.2. UK Industry Vertical Modernization Services Market Revenue, By Enterprise Size, 2024 – 2032 (USD Million) 84
CHAPTER NO. 18 : COMPANY PROFILES 85
18.1. Capgemini 85
18.1.1. Company Overview 85
18.1.2. Product Portfolio 85
18.1.3. Swot Analysis 85
18.1.4. Business Strategy 86
18.1.5. Financial Overview 86
18.2. Atos SE 87
18.3. SAP SE 87
18.4. Siemens AG 87
18.5. Accenture 87
18.6. TCS (Tata Consultancy Services) 87
18.7. Cognizant 87
18.8. IBM Corporation 87
18.9. Infosys 87
18.10. Wipro 87

List of Figures
FIG NO. 1. UK Industry Vertical Modernization Services Market Revenue, 2018 – 2032 (USD Million) 23
FIG NO. 2. Porter’s Five Forces Analysis for UK Industry Vertical Modernization Services Market 30
FIG NO. 3. UK Industry Vertical Modernization Services Market Import Volume/Revenue, By UK, 2018 – 2023 32
FIG NO. 4. UK Industry Vertical Modernization Services Market Export Volume/Revenue, By UK, 2018 – 2023 33
FIG NO. 5. UK Industry Vertical Modernization Services Market Demand Volume/Revenue, By UK, 2018 – 2023 34
FIG NO. 6. UK Industry Vertical Modernization Services Market Supply Volume/Revenue, By UK, 2018 – 2023 35
FIG NO. 7. UK Industry Vertical Modernization Services Market Production Volume/Revenue, By UK, 2018 – 2023 36
FIG NO. 8. UK Industry Vertical Modernization Services Market Price, By Type, 2018 – 2023 37
FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 38
FIG NO. 10. Manufacturing Cost Analysis 39
FIG NO. 11. Manufacturing Process 39
FIG NO. 12. Value Chain Analysis for UK Industry Vertical Modernization Services Market 40
FIG NO. 13. Company Share Analysis, 2023 41
FIG NO. 14. Company Share Analysis, 2023 42
FIG NO. 15. Company Share Analysis, 2023 42
FIG NO. 16. Company Share Analysis, 2023 43
FIG NO. 17. Industry Vertical Modernization Services Market – Company Volume Market Share, 2023 44
FIG NO. 18. Industry Vertical Modernization Services Market – Company Revenue Market Share, 2023 45
FIG NO. 19. Industry Vertical Modernization Services Market Revenue Share, By Type, 2023 & 2032 51
FIG NO. 20. Market Attractiveness Analysis, By Type 52
FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 52
FIG NO. 22. Industry Vertical Modernization Services Market Revenue, By Type, 2018, 2023, 2027 & 2032 53
FIG NO. 23. UK Industry Vertical Modernization Services Market for Industry Vertical Portfolio Assessment, Revenue (USD Million) 2018 – 2032 54
FIG NO. 24. UK Industry Vertical Modernization Services Market for Cloud Industry Vertical Migration, Revenue (USD Million) 2018 – 2032 55
FIG NO. 25. UK Industry Vertical Modernization Services Market for Industry Vertical Replatforming, Revenue (USD Million) 2018 – 2032 56
FIG NO. 26. UK Industry Vertical Modernization Services Market for Industry Vertical Integration, Revenue (USD Million) 2018 – 2032 57
FIG NO. 27. UK Industry Vertical Modernization Services Market for Application Retirements, Revenue (USD Million) 2018 – 2032 58
FIG NO. 28. Industry Vertical Modernization Services Market Revenue Share, By Industry Vertical, 2023 & 2032 60
FIG NO. 29. Market Attractiveness Analysis, By Industry Vertical 61
FIG NO. 30. Incremental Revenue Growth Opportunity by Industry Vertical, 2024 – 2032 61
FIG NO. 31. Industry Vertical Modernization Services Market Revenue, By Industry Vertical, 2018, 2023, 2027 & 2032 62
FIG NO. 32. UK Industry Vertical Modernization Services Market for BFSI, Revenue (USD Million) 2018 – 2032 63
FIG NO. 33. UK Industry Vertical Modernization Services Market for IT and Telecom, Revenue (USD Million) 2018 – 2032 64
FIG NO. 34. UK Industry Vertical Modernization Services Market for Retail and E-commerce, Revenue (USD Million) 2018 – 2032 65
FIG NO. 35. UK Industry Vertical Modernization Services Market for Healthcare, Revenue (USD Million) 2018 – 2032 66
FIG NO. 36. UK Industry Vertical Modernization Services Market for Others, Revenue (USD Million) 2018 – 2032 67
FIG NO. 37. Industry Vertical Modernization Services Market Revenue Share, By Deployment Mode, 2023 & 2032 69
FIG NO. 38. Market Attractiveness Analysis, By Deployment Mode 70
FIG NO. 39. Incremental Revenue Growth Opportunity by Deployment Mode, 2024 – 2032 70
FIG NO. 40. Industry Vertical Modernization Services Market Revenue, By Deployment Mode, 2018, 2023, 2027 & 2032 71
FIG NO. 41. UK Industry Vertical Modernization Services Market for On-Premises, Revenue (USD Million) 2018 – 2032 72
FIG NO. 42. UK Industry Vertical Modernization Services Market for Cloud, Revenue (USD Million) 2018 – 2032 73
FIG NO. 43. Industry Vertical Modernization Services Market Revenue Share, By Enterprise Size, 2023 & 2032 75
FIG NO. 44. Market Attractiveness Analysis, By Enterprise Size 76
FIG NO. 45. Incremental Revenue Growth Opportunity by Enterprise Size, 2024 – 2032 76
FIG NO. 46. Industry Vertical Modernization Services Market Revenue, By Enterprise Size, 2018, 2023, 2027 & 2032 77
FIG NO. 47. UK Industry Vertical Modernization Services Market for Small and Medium Enterprises (SMEs), Revenue (USD Million) 2018 – 2032 78
FIG NO. 48. UK Industry Vertical Modernization Services Market for Large Enterprises, Revenue (USD Million) 2018 – 2032 79

List of Tables
TABLE NO. 1. : UK Industry Vertical Modernization Services Market: Snapshot 22
TABLE NO. 2. : Drivers for the Industry Vertical Modernization Services Market: Impact Analysis 26
TABLE NO. 3. : Restraints for the Industry Vertical Modernization Services Market: Impact Analysis 28
TABLE NO. 4. : UK Industry Vertical Modernization Services Market Revenue, By Type, 2018 – 2023 37
TABLE NO. 5. : Key Raw Materials & Suppliers 38
TABLE NO. 6. : UK Industry Vertical Modernization Services Market Revenue, By Type, 2018 – 2023 (USD Million) 80
TABLE NO. 7. : UK Industry Vertical Modernization Services Market Revenue, By Type, 2024 – 2032 (USD Million) 80
TABLE NO. 8. : UK Industry Vertical Modernization Services Market Revenue, By Industry Vertical, 2018 – 2023 (USD Million) 82
TABLE NO. 9. : UK Industry Vertical Modernization Services Market Revenue, By Industry Vertical, 2024 – 2032 (USD Million) 82
TABLE NO. 10. : UK Industry Vertical Modernization Services Market Revenue, By Deployment Mode, 2018 – 2023 (USD Million) 83
TABLE NO. 11. : UK Industry Vertical Modernization Services Market Revenue, By Deployment Mode, 2024 – 2032 (USD Million) 83
TABLE NO. 12. : UK Industry Vertical Modernization Services Market Revenue, By Enterprise Size, 2018 – 2023 (USD Million) 84
TABLE NO. 13. : UK Industry Vertical Modernization Services Market Revenue, By Enterprise Size, 2024 – 2032 (USD Million) 84

Frequently Asked Questions:

What is the current size of the UK Industry Vertical Modernization Services market?

The UK Industry Vertical Modernization Services market is valued at USD 76.54 million in 2023 and is projected to grow to USD 226.88 million by 2032, reflecting a compound annual growth rate (CAGR) of 14.55%.

What factors are driving the growth of the UK Industry Vertical Modernization Services market?

The market’s growth is driven by the increasing demand for digital transformation across industries such as manufacturing, retail, and healthcare. Key drivers include the adoption of advanced technologies like cloud computing, data analytics, and automation, as well as the need to upgrade legacy systems and comply with regulatory requirements. A focus on sustainability and energy-efficient solutions is also contributing to the market’s expansion.

What are the key segments within the UK Industry Vertical Modernization Services market?

The market is segmented by type, including Industry Vertical Portfolio Assessment, Cloud Industry Vertical Migration, Industry Vertical Replatforming, Industry Vertical Integration, and Industry Vertical Retirements. Industry verticals such as BFSI, IT and Telecom, Retail and E-commerce, Healthcare, and Others further segment the market. It is also categorized by deployment mode (on-premises and cloud), enterprise size (SMEs and large enterprises), and geography, including regions like London, Manchester, and Scotland.

What are some challenges faced by the UK Industry Vertical Modernization Services market?

High implementation costs pose a significant challenge, especially for small and medium-sized enterprises. Resistance to change within organizations and a lack of skilled professionals to manage modernization projects also hinder market growth. Additionally, concerns related to cybersecurity and compliance with regulatory standards further complicate modernization efforts.

Who are the major players in the UK Industry Vertical Modernization Services market?

Key players in the market include Capgemini, Atos SE, SAP SE, Siemens AG, Accenture, TCS (Tata Consultancy Services), Cognizant, IBM Corporation, Infosys, and Wipro. These companies offer a wide range of modernization services, including cloud migration, system integration, and industry-specific portfolio assessments, catering to diverse industries like BFSI, healthcare, and retail.

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