The concept of software maintenance encompasses a wide range of activities necessary for the effective operation and upkeep of software, with a focus on cost performance. In the system life cycle, the maintenance stage is when a software product performs all constructive activities, including corrective maintenance like fixes and bug fixes, adaptive maintenance like adjustments to new environments or requirements, perfective maintenance like enhancements and optimizations, and preventive maintenance like measures to anticipate problems. This broad scope assures that the software is effective, efficient, and meets changing user and technical needs. The primary objective of this study is to conduct research on the emerging technologies and cost estimation models pertaining to software maintenance. The present study will employ a qualitative research methodology. The study’s findings indicate that the use of developing technologies has a substantial influence on the cost dynamics of software maintenance, hence requiring the development of more precise and flexible estimating methods. The proposed model adeptly tackles these issues by integrating pertinent elements such as technological advancement, intricacy, and allocation of resources. The validation results illustrated the theoretical capacity of the model to offer enhanced accuracy in cost projections, hence facilitating improved budgetary planning and resource allocation.