Cloud Migration Services Market, Reach A Valuation Major Drivers and Restraints Data Protection Regional Study and Industry Profit Growth Forecast By 2027
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Market Scenario:
The global Cloud
Migration Services Market will touch USD 8 billion at a 22% CAGR in the
forecast period 2017- 2023, as per the new Market Research Future (MRFR) analysis.
The cloud migration service is a movement of applications, business processes,
and infrastructure to the cloud.
Various factors are fuelling the global cloud
migration services market growth. As per the recent MRFR market estimates, such
factors include the growing need for cloud services among IT and
telecommunication industries, increasing penetration of machine learning and
artificial intelligence, increasing use during COVID-19 pandemic, security,
agility, flexibility, and lower costs, growing need for automation and business
agility, and growing demand for cloud migration in business continuity. The
additional factors adding market growth include ease in deployment of
applications with pay-as-you-go model, need for lower OPEX and CAPEX, and increase
in cloud expenditure.
In
a nutshell, COVID-19 impact on managed services has been fruitful, with the
market growth enhanced than before. Given the prevalent lockdown situation,
managed services vendors are now investing heavily in remote-centric worker
solutions, which can make the market highly resilient in the coming years, even
as the world is currently rushing to achieve a COVID-19 breakthrough.
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Segmentation:
The
MRFR report throws light on an inclusive segmental analysis of the global cloud
migration services market based on industries, applications, organization size,
deployment, and services.
By
services, the cloud migration services market is segmented into professional
service & managed services. The professional services is again bifurcated
into training and consulting, disaster recovery, support and maintenance,
automation and integration, and others. Of these, automation and integration
will lead the market over the forecast period.
By
deployment, the cloud migration services market is segmented into hybrid,
private, and public.
By
organization size, the global cloud migration services market is segmented into
large enterprises and SMEs.
By
applications, the global cloud migration services market is segmented into
project management, workforce management, security and compliance management,
infrastructure management, and others. Of these, security and compliance will
dominate the market over the forecast period.
By
industries, the global cloud migration services market is segmented into
manufacturing, IT and telecommunication, government, and others.
Competitive Outlook:
The
notable players profiled in the cloud migration services market report include
Amazon Web Services Inc. (U.S.), Vmware, Inc. (U.S.), NTT DATA, Inc. (Japan),
Wipro Ltd. (India), Accenture PLC (Republic of Ireland), HCL Technologies
(India), IBM Corporation (U.S.), Dell (U.S.), Tech Mahindra (India), and
Microsoft Corporation (U.S.), 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:
By
region, the cloud migration services market covers the recent trends and growth
opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of
the World (RoW). Of these, North America will dominate the market over the
forecast period. Increasing adoption of AI, huge demand and penetration for
cloud services including hybrid cloud, private, and public, reduction in
operation costs, enhanced security to data when stored in the cloud, and
increasing dependence on the cloud are adding to the global cloud migration
services market growth in the region.
In
Europe the global cloud migration services market is predicted to hold the
second-largest share over the forecast period. Technological upgrades in cloud
computing, advent of fifth-generation wireless technology, and high adoption of
hybrid laaS, private laaS, and public laaS are adding to the global cloud
migration services market growth in the region.
In
the APAC region, the global cloud migration services market is predicted to
grow at a fast pace over the forecast period. Increasing penetration of IT
services, increased demand for cloud computing among SMEs, growing penetration
of the internet, and rapid adoption of advanced technologies such as ML and AI
are adding to the global cloud migration services market growth in the
region.
In
RoW, the global cloud migration services market is predicted to have sound
growth over the forecast period.
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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