Global cloud migration services market is expected to grow at a robust rate of around 19% during the forecast period. The global cloud migration services market is driven by the increasing migration of on-premises workload to cloud by various enterprises. This migration is mainly due to the several benefits associated with cloud such as affordability, scalability, 24/7 availability, large storage space, auto-update feature, among others. This in turn is expected to positively influence the market growth through 2027.
Additionally, the sudden outbreak of pandemic novel coronavirus disease has accelerated the adoption of cloud migration services since the organizations are working remotely and continuously trying to improve their business and revenue. Furthermore, increasing automation and technological advancements are expected to create lucrative opportunities for market growth over the next few years. However, data protection and cyber security issues can hamper the market growth over the next few years.
The global cloud migration services market is segmented based on service type, organization size, application, end user industry, company and region. Based on service type, the market can be grouped into automation & integration, disaster recovery, application hosting & monitoring, DevOps, training & consulting, support & maintenance and managed services. The automation & integration segment is expected to dominate the market attributable to the widespread adoption across enterprises. Additionally, automation & integration helps in reducing cost, time, manual tasks and risk of failure. Based on application, the market can be categorized into project management, infrastructure management, security & compliance management and others. The security & compliance management is expected to dominate the market during the forecast period. this can be ascribed to the increasing complexity and sophistication of cyber attacks and need to protect important data from malwares, ransomwares and cyber threats.
Regionally, the cloud migration services market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the overall cloud migration services market owing to early adoption of latest technologies in the region. Additionally, presence of large enterprises and better technical expertise is further expected to drive the growth of market in the region.
The major players operating in the cloud migration services market Amazon Web Services, IBM Corporation, Microsoft Corporation, Google, Inc., Cisco Systems, Inc., NTT Data, DXC Technologies, VMware, Inc., Rackspace, Informatica and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
- To analyze and estimate the market size of global cloud migration services market from 2017 to 2020.
- To estimate and forecast the market size of global cloud migration services market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global cloud migration services market based on service type, organization size, application, end user industry, company and regional distribution.
- To identify dominant region or segment in the global cloud migration services market.
- To identify drivers and challenges for global cloud migration services market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global cloud migration services market.
- To identify and analyze the profile of leading players operating in global cloud migration services market.
- To identify key sustainable strategies adopted by market players in global cloud migration services market.
