Data Migration Market is expected to demonstrate a CAGR of 17.3% by 2030
The Global Data Migration Market size is estimated to be USD 7.26 billion in 2019 and is predicted to reach USD 42.00 billion by 2030 with a CAGR of 17.3% from 2020-2030. Data migration is a process of moving data from one technology to other, which is different from ETL, data amalgamation, and duplication. Data migration is often assumed as a part of a wider application migration such as migrating from SAP to Oracle, consolidating SAP environments or migrating from one version of SAP to a different, but may also be used to support migration from one database to another or between major upgrades of a database. The implementation of master information management may need information migration. Data migration will require use of data profiling and discovery tools and data quality capabilities and may also involve ETL, data archival and data masking technologies.
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There have been various developments taken place over the period of time which has led to the development of infrastructure and increased in technological advancement. Furthermore, increased use of cloud services coupled with increased use of IoT and big data is further expected to fuel the growth of data migration.
The other factors include increased demand of low maintenance and increase in data volumes are further expected propel the growth of market. Furthermore, increased demand of data storage and processing business are further expected to accelerate the growth of market. However, quality of data and verification of address post migration of data creates issues hampering the data migration market. On the other hand, increasing need of disaster recovery by business community and increase in cloud deployment which allows easy integration and wide application with easy access of the data are expected to create ample opportunities in the data migration in near future.
Market Segmentations and Scope of the Study:
The global data migration market share is analyzed on the basis of deployment, services, organization size, industry vertical and geography. On the basis of deployment, the market is segmented into public, private and hybrid. On the basis of service, the market is divided into PaaS, IaaS and SaaS. On the basis of organization size, the market is divided into Small and Medium Enterprises (SMEs) and Large Enterprises. On the basis of industry vertical, the market is divided into BFSI, Healthcare, Retail, Government, IT and Telecommunication, Manufacturing, and Other. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to anticipate holding the major market share over the forecast period owing to the increased adoption of cloud services coupled with developed infrastructure and technological advancement. Furthermore, increase in technological advancement and easy integration with increased demand in the reduction of operational cost is further expected to promote the growth of data migration services.
Asia Pacific is expected to show rapid growth with constant increase in market size owing to the increase in data volumes coupled with increase in data based firms. Moreover increased demand of data storage and data processing is further expected to fuel the market growth.
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The data migration market, which is highly competitive and fragmented, consists of various market players. Some of the major market players include Accenture PLC, Cisco Systems Inc., Google LLC, DXC Technology, Microsoft Corporation, Amazon Inc., IBM Corporation, Rightscale Inc. (Flexera), Oracle Corporation, VMware Inc., Cognizant Technology Solutions Corp, Tech Mahindra Ltd, Evolve IP LLC, Rackspace Hosting Inc. and WSM International LLC among others.
There have been various developments taken place in the past and will further continues to takes place which contributes the overall market growth. For instance, in August 2019, DXC Technology has announced a strategic partnership with Google Cloud that will enable enterprise clients to modernize their mission-critical IT and integrate digital solutions on Google Cloud Platform.
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