Market Analysis
Market Research Future (MRFR) presumes the global Cloud Migration Services Market to reach USD 8 billion at a CAGR of 22% from 2018 to 2023 (forecast period)
Increased Demand for Cloud Migration for Business Continuity
Cloud migration services are concerned with both the platform and the software services. This category of the value chain includes platforms and software providers. Application design, application development, team collaboration, database integration, and security are all part of the PaaS offering. The major cloud migration services market trends offered by these services are known as PaaS service providers. There are various sorts of PaaS vendors on the market; nonetheless, they all provide services or applications. This service is hosted by vendors who are licensed on a subscription basis. SaaS is used by the subscriber using a web browser. With the maturation of mobile applications and other software such as CAD and ERP, SaaS has grown in popularity. Due to the increased demand for both services, SaaS and PaaS providers play an important role in the value chain of the cloud computing services market. As a result, the aforementioned reasons are projected to boost the market for cloud migration services throughout the forecast period.
The Global Market to Benefit from COVID-19 Pandemic
In the COVID-19 pandemic, where businesses are dealing with operational issues, many CXOs are being compelled to accelerate digital technologies and strategies, cloud migration being one of them. Many large enterprises and small and medium-sized enterprises (SMEs) have shifted to cloud-savvy managed service providers (MSPs), who have accelerated migration processes, scaled existing services, modernized legacy applications, enabled and orchestrated multi-cloud environments, and leveraged various cloud-native capabilities. Furthermore, several cloud service providers have created many appealing cloud migration strategies that specifically assist SME's in adopting these services with simplicity and with less financial stress, generating countless chances for the market.
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Segmentation:
The global cloud migration services industry has been segmented into services, deployment, organization size, applications, and industries.
On the basis of services, the global cloud migration services market has been segmented into managed services and professional services. The professional services have been further sub-segmented into automation & integration, support & maintenance, disaster recovery, training & consulting, and others.
On the basis of deployment, the global cloud migration services market has been segmented into public, private, and hybrid.
On the basis of organization size, the global cloud migration services market has been segmented into SMEs and large enterprises.
On the basis of applications, the global cloud migration services market has been segmented into infrastructure management, security and compliance management, workforce management, project management, and others.
On the basis of industries, the global cloud migration services market has been segmented into government, IT & telecommunication, manufacturing, and others.
Competitive Outlook:
Some of the prominent participants in the global cloud migration services market Microsoft Corporation (U.S.), Tech Mahindra (India), Dell (U.S.), IBM Corporation (U.S.), HCL Technologies (India), Accenture PLC (Republic of Ireland), Wipro Ltd. (India), NTT DATA, Inc. (Japan), Vmware, Inc. (U.S.), Amazon Web Services Inc. (U.S.), and among others.
The global cloud migration services market is highly fragmented and competitive in nature with the presence of several well-established domestic and international players. These industry players have used several strategies to stay ahead such as mergers and acquisitions, partnerships, collaborations, geographic expansions, and others. Further, they are also investing in research and development activities to cater to the burgeoning needs of the customers.
Regional Analysis:
North America to Lead the Global Market
During the projection period, North America is likely to hold the largest market share and dominate the cloud migration services market. Due to the presence of major organizations, higher technical expertise, and the application of cutting-edge technologies, North America has the largest usage of cloud migration services.
Industry Updates
March 2021- Microsoft has launched programs for Azure for simplifying cloud migration in India.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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List of Tables
Table 1 Global Cloud Migration Services Market: By Region, 2020-2027
Table 2 North America Cloud Migration Services Market: By Country, 2020-2027
Table 3 Europe Cloud Migration Services Market: By Country, 2020-2027
Continued…
List of Figures
FIGURE 1 Global Cloud Migration Services Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Cloud Migration Services Market
Continued…
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