Kenneth Research published a report titled “Cloud Migration Services Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global cloud migration services market in terms of market segmentation by application, organization size, deployment type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global cloud migration services market is estimated to grow at a CAGR of ~25% over the forecast period, i.e., 2022-2031. The market is segmented by application into infrastructure, compliance & security, and project management. Out of these, the compliance & security segment is anticipated to hold the largest share by the end of 2031 on the back of protecting the cloud-based data from being misused, boosting integration and supporting organizations to meet their compliance needs.
There has been a rise in the demand for organizations to shift from on-premise to cloud deployment, that is anticipated to drive the growth of the global cloud migration services market. Moreover, increase in demand for cloud computing amongst business organizations owing to various factors such as high security, and lower operational cost are further expected to rise the growth of the global cloud migration services market.
Geographically, the global cloud migration services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of them, the market in the Asia Pacific region is anticipated witness noteworthy growth over the forecast period on the back of an increase in government support for the digitalization of the economy and realization of the benefits related to cloud deployment such as improved efficiency and lower cost of operations.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increase in the Adoption of Artificial Intelligence and Internet of Things for the Real-Time Analytics to Drive the Growth of the Market
The adoption rate amongst business organizations worldwide for artificial intelligence has been accounted to 35 per cent.
There has been an increase in the adoption of artificial intelligence and the internet of things (IoT) for real time analytics in organizations that are supported by cloud-based infrastructure. Therefore, it is anticipated to increase the growth of the global cloud migration services market.
However, lack of awareness related to cloud migration services and high prices for the cloud deployment on small & medium enterprises are expected to operate as key restraint to the growth of global cloud migration services market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global cloud migration services market which includes company profiling of Microsoft Corporation, IBM Corporation, VMware, Inc., Cisco Systems, Inc., Alphabet Inc., NTT Ltd, HCL Technologies Limited, Wipro Limited, DXC Technology Company, Informatica LLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cloud migration services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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