Cloud Migration Services Market: Development Trends and Worldwide Growth 2020-2023
Global Cloud Migration Services Market Research Report – By Services (Managed Services), Deployment (Public, Private), Organization Size (SMEs, Large Enterprises), Applications (Infrastructure Management), Industries (Government) - Forecast Till 2023
Competitive Analysis:
Key players in the global cloud migration services market include HCL Technologies, Tech Mahindra, Microsoft Corporation, IBM Corporation, Dell, Accenture plc, NTT DATA Inc., Amazon Web Services Inc., Wipro Ltd., and Vmware Inc.
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Overview
Market Research Future (MRFR) has announced a new release on the global cloud migration services market. The market is expected to rise to a valuation of USD 8 billion by 2023, at a robust CAGR of 22% over the forecast period (2018-2023).
Cloud migration services are availed when a corporation is looking to move its data, business processes, and infrastructure to the cloud. The cloud migration services market has come to the fore among corporate entities in the last few years with the rising incorporation of cloud services and artificial intelligence (AI) services into the regular day-to-day workings of companies. The rising utilization of AI has led to a continuous rise in data volume, which has led to a need for cloud solutions. This is likely to remain the major driver for the global cloud migration services market over the forecast period, as the utility of AI in various business processes has been acknowledged unanimously and its use is likely to increase further over the forecast period.
Segmental Analysis:
The global cloud migration services market is segmented on the basis of services, deployment, organization size, application, end-use industry, and region.
By service, the global cloud migration services market is segmented into managed and professional services. The latter is further subdivided into automation and integration, support and maintenance, disaster recovery, training and consulting, and others.
By deployment, the global cloud migration services market is segmented into public, private, and hybrid.
By organization size, the market is bifurcated into large organizations and small and midsized enterprises (SMEs).
By application, the cloud migration services market is segmented into infrastructure management, security and compliance management, workforce management, project management, and others.
By end use, the global cloud migration services market is segmented into IT and telecommunication, government sector, manufacturing, and others.
Regional Analysis:
The global Cloud Migration Services Market is segmented into North America, Europe, Asia Pacific, and rest of the world.
North America is the dominant regional market for cloud migration services due to the widespread adoption of artificial intelligence tools. The advanced industrial landscape in North America has led to widespread incorporation of AI on multiple operational levels, leading to a significant need for cloud migration. The booming IT and telecommunications industry in North America is likely to drive the cloud migration services market in the region over the forecast period.
Europe is also likely to remain a dominant contributor to the global cloud migration services market due to the highly advanced technological landscape in the region and widespread use of IoT and AI. Several governments in Europe have also taken the initiative in boosting the adoption of cloud services among companies in their countries, resulting in a favorable environment for the market.
Asia Pacific is likely to be a major regional market for cloud migration services over the coming years due to the rapid advancement of the IT and telecom sector in the region. The market is likely to thrive in emerging countries such as China and India, where governments have backed technological advancements intended to drive innovation and efficiency in their industrial sectors. The presence of leading companies such as Tech Mahindra and Wipro in India is also conducive for encouraging rapid growth of the cloud migration services market in Asia Pacific over the forecast period.
Industry Updates:
In March 2018, VMware, Inc. expanded its cloud services portfolio with the increasing adoption of multi-cloud services. With this expansion, the company is fulfilling the customer requirement by improving the risk management and complexity of the cloud.
In March 2018, Microsoft Corporation launched a cloud computing education initiative with Azure cloud services to educate Australian public service workers. Within this initiative, the company has conducted programs for the government’s cloud migration services with a secure cloud strategy.
In October 2017, International Business Machines Corporation launched new cloud migration and deployment services which paved the way for organizations in shifting their data and applications to the cloud.
LIST OF TABLES
Table 1 Global Cloud Migration Services Market: By Region, 2017-2023
Table 2 North America Cloud Migration Services Market: By Country, 2017-2023
Table 3 Europe Cloud Migration Services Market: By Country, 2017-2023
Table 4 Asia Pacific Cloud Migration Services Market: By Country, 2017-2023
Table 5 Middle East & Africa Cloud Migration Services Market: By Country, 2017-2023
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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
FIGURE 4 Value Chain Of Global Cloud Migration Services Market
FIGURE 5 Share Of Global Cloud Migration Services Market In 2017, By Country (In %)
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