Overview and Scope
Cloud migration services refer to how businesses have been moving to the cloud and the products used to get there. The cloud providers themselves (such as Azure, AWS, and Google) all provide tools and services to help migrate workloads and applications. The cloud migration services are used for the smooth transition of data and applications from on-premises or a data center to a more effective and secure cloud environment.
Sizing and Forecast
The cloud migration services market size has grown rapidly in recent years. It will grow from $197.08 billion in 2023 to $233.94 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to cost savings and operational efficiency, scalability and flexibility demands, legacy system modernization needs, security concerns and compliance, adoption of cloud-first strategies.
The cloud migration services market size is expected to see exponential growth in the next few years. It will grow to $505.85 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to accelerated digital transformation initiatives, increased focus on hybrid and multi-cloud environments, growth in edge computing, integration with devops and agile development, emphasis on data migration and management. Major trends in the forecast period include serverless computing and microservices architecture, containerization for application portability, zero trust security models for cloud environments, ai-driven automation in cloud migration, shift towards cloud-native development and architecture.
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Segmentation & Regional Insights
The cloud migration services market covered in this report is segmented –
1) Cloud Migration Services Market By Service Type: Application Hosting And Monitoring, Automation And Integration, DevOps, Professional Service, Managed Service, Other Service Types
2) Cloud Migration Services Market By Enterprise Size: Large Enterprises, Small And Medium Sized Enterprises (SMEs)
3) Cloud Migration Services Market By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
4) Cloud Migration Services Market By Application: Project Management, Infrastructure Management, Security And Compliance Management, Other Applications
5) Cloud Migration Services Market By Industry: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Manufacturing, Retail, Government, Media And Entertainment, Other Industries
Top Major Players
Amazon Web Services Inc
Vmware Inc.
Cisco Systems Inc.
DXC Technology
Google LLC.
North America was the largest region in the cloud migration services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud migration services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the adoption of automation solutions is expected to propel the cloud migration services market. Automation solutions are industrial solutions to replace slow, obsolete manual procedures with technology, programs, robotics, or processes for enhanced efficiency and accuracy. Cloud migration services provide enterprises with the essential tooling, automation, and competence to complete a secure cloud migration. For instance, in May 2023, according to Formstack, a US-based software company, 76% of organizations use automation to automate their daily workflows, automating data and reporting for planning purposes is used by 58%, and compliance with regulations is used by 36% of firms. Therefore, the rise in the adoption of automation solutions is driving the growth of the cloud migration services market.
Key Industry Players
Major companies operating in the cloud migration services market report are Amazon Web Services Inc, Vmware Inc., Cisco Systems Inc., DXC Technology, Google LLC., Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Alibaba Group Holding Limited, Dell Technologies Inc., Hewlett Packard Enterprise Company, Nutanix Inc., Rackspace Technology Inc., Accenture plc, Wipro Limited, Tata Consultancy Services Limited, Capgemini SE, Infosys Limited, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, Atos SE, Virtustream Inc., NetApp Inc., Teradata Corporation, Red Hat Inc., Hitachi Vantara LLC, ServiceNow Inc., Turbonomic Inc., Micro Focus International plc, RiverMeadow Software Inc.
The cloud migration services market report table of contents includes:
1. Executive Summary
2. Cloud Migration Services Market Characteristics
3. Cloud Migration Services Market Trends And Strategies
4. Cloud Migration Services Market – Macro Economic Scenario
5. Global Cloud Migration Services Market Size and Growth
…..
32. Global Cloud Migration Services Market Competitive Benchmarking
33. Global Cloud Migration Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Migration Services Market
35. Cloud Migration Services Market Future Outlook and Potential Analysis
36. Appendix
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