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IC20115649 |
Pages: 310 |
Sep 2023 |
Cloud Migration Services Overview
The services that help companies and organizations move their data, apps, and IT infrastructure from on-premises environments to cloud-based platforms are known as cloud migration services. The process of moving digital assets and operations to cloud computing platforms, which provide better flexibility, scalability, cost-efficiency, and accessibility, from traditional data centers or physical servers, is known as cloud migration. In order to support this shift seamlessly and securely, cloud migration service providers offer a wide range of data and solutions. Planning and assessment, data migration, application migration, infrastructure setup and optimization, security enhancements, ongoing cloud administration, and support are some of the services they offer.
Global Cloud Migration Services Market Analysis
The global cloud migration services market size was $11.9 billion in 2022 and is predicted to grow with a CAGR of 26.1%, by generating a revenue of $116.1 billion by 2032.
COVID-19 Impact on Global Cloud Migration Services Market
The COVID-19 pandemic had a long-lasting impact on the market for cloud migration services. The pandemic intensified the need for businesses across industries to quickly shift their operations to remote and digital models, generating a rise in demand for cloud migration services even though the adoption of cloud technology was already a developing trend. Organizations had pressing needs for scalability, distant collaboration, and business continuity, which led to an increase in their reliance on cloud infrastructure.
However, the market also faced difficulties like budgetary restrictions and uncertainty, which led several enterprises to postpone or reassess their migration plans. The cloud migration services market underwent a transformational shift that is likely to have a lasting impact on how businesses approach IT infrastructure, digital transformation, and disaster preparedness in the post-pandemic period.
Advantages of Cloud Storage to Drive the Cloud Migration Services Market Growth
The enormous advantages of moving infrastructure, apps, and data to the cloud, including improved scalability, cost-efficiency, agility, and accessibility, are becoming increasingly clear to organizations. Enterprises are being compelled to opt for cloud solutions owing to the rising volume of digital data along with the demand for enhanced analytics and real-time insights. In addition, the COVID-19 pandemic has led to an increase in the adoption of remote work models by pressuring businesses to move their operations to the cloud for better remote access and collaboration. The complexity of cloud migration forces companies to seek out specialized service providers who have experience in painless transition, data security, compliance, and optimization, as they fight to remain competitive in a technology landscape that is continuously changing. An increase in hybrid and multi-cloud strategies, as well as the ongoing innovation and development of major providers' cloud service offerings, have all contributed to an increase in demand for cloud migration services. In general, as businesses use the cloud as a strategic enabler of development and change, the market for cloud migration services is projected witness rapid growth in the upcoming years.
High Initial Costs to Restrain the Market Revenue Growth
Organizations are hesitant to move sensitive data and important applications to the cloud due to concern regarding data breaches and unauthorized access, which continues to be a major obstacle for the market growth. Integration difficulties is another factor projected to hamper market growth, as moving from on-premises systems to cloud settings necessitates thorough planning and execution to guarantee seamless operation. In addition, small & medium-sized businesses with limited finances may be discouraged by the high upfront expenses associated with migration, including training, infrastructure setup, and possible business disruptions. Another barrier is vendor lock-in, which makes it difficult for enterprises to transfer between cloud service providers after they are well-integrated into a particular ecosystem. Migration efforts are further hampered by legal and regulatory compliance concerns, particularly in sectors with stringent data governance standards. The process may be hampered by the lack of qualified experts knowledgeable in cloud migration strategies, making it challenging to traverse the technical nuances of migration and optimization. These limiting constraints add up to a difficult market environment for cloud migration services, necessitating strategic approaches and intelligent solutions to properly address these issues.
Advancements in Technology to Drive Excellent Opportunities
To streamline and expedite migration processes, cloud service providers and specialized migration businesses have been making significant investments in building tools, frameworks, and solutions. To evaluate current on-premises infrastructure, identify dependencies, and create migration strategies, automated assessment tools are used. The use of automated data migration methods has improved as well, reducing transitional downtime and disruptions. In addition, technologies that are driven by machine learning and artificial intelligence (AI) have begun to take center stage in cloud migration services. To provide more precise cost estimates, optimize resource allocation, and anticipate potential difficulties during relocation, these systems can analyze large volumes of data and previous migration trends. Businesses can make more informed judgements as a result, and reduce the risks associated with cloud migration. In addition, the development of migration services has been affected by the rise of multi-cloud and hybrid-cloud methods. To fulfil their unique demands, businesses are increasingly utilizing a mix of on-premises, private cloud, and public cloud resources. To accommodate these complicated systems, cloud migration service providers are modifying their solutions, providing seamless integration, and enabling effective data and workload mobility across numerous cloud platforms.
Global Cloud Migration Services Market Share, by Deployment Model, 2022
The public sub-segment accounted for the highest market share in 2022. The public sector in the cloud migration services market is essential for allowing the seamless migration of enterprises and organizations from on-premises infrastructures to the cloud. Public cloud services are offered by outside vendors and accessed via the Internet, providing a scalable and affordable option for businesses wishing to benefit from cloud computing's advantages. Public cloud migration services cover a wide range of products, including data movement, application re-platforming or restructuring, security implementation, assessment & planning of migration strategies, and continuing support & management. These services are made to meet the unique requirements and difficulties faced by companies looking to use cloud computing. The public segment's capacity to offer a multi-tenant environment, where many organizations can share the same cloud infrastructure, is one of the segment's primary advantages in terms of cloud migration services.
Global Cloud Migration Services Market Share, by Enterprise Size, 2022
The large-size enterprises sub-segment accounted for the highest market share in 2022. In order to increase agility, reduce costs, and modernize operations, businesses with huge and sophisticated IT infrastructure, sprawling applications, and massive amounts of data are increasingly resorting to cloud migration. Enterprises with significant technological footprints that fall under the large size segment need specialized migration solutions that take into account complex issues like data security, regulatory compliance, and seamless integration with existing workflows. To ensure a seamless and effective migration process, cloud service providers and migration specialists serving this market segment must offer full end-to-end strategies spanning evaluation, planning, execution, and post-migration support, frequently integrating hybrid cloud environments. The large-size sub-segment in the cloud migration services market serves as a crucial arena for innovation, competition, and the establishment of industry best practices
Global Cloud Migration Services Market Share, by End-use Industry, 2022
The IT & telecommunications sub-segment accounted for the highest market share in 2022. Companies in the IT & telecommunications sector have been at the forefront of providing cloud migration services to customers due to the growing demand for scalable and affordable solutions. Cloud migration services are created to make the smooth movement of infrastructure, data, and applications from on-premises settings to cloud-based platforms possible. The expertise in this area lies in comprehending the special needs of various organizations and customizing migration solutions to guarantee little disruption and maximum effectiveness throughout the transition process. Cloud service providers like Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and others are all well-versed in the IT & telecom firms providing cloud migration services. Due to their knowledge, they can help clients choose the best cloud platform depending on their individual goals, financial limitations, and security requirements. The IT & telecommunications segment also plays a crucial role in conducting thorough evaluations of current IT infrastructures to spot potential problems and areas that need to be optimized before relocation. This pre-migration analysis makes sure that the cloud migration process is well-structured and risk-mitigated.
Global Cloud Migration Services Market Share, by Region, 2022
The North America cloud migration services market generated the highest revenue in 2022. Businesses in a variety of industries in North America are using cloud migration to improve their operational efficiency, scalability, and cost-effectiveness in response to the rising demand for cloud-based solutions. High demand for cloud migration services is a result of the region's established technological infrastructure, developed cloud market, and extensive adoption of digital transformation projects. These businesses cater to various needs of businesses wishing to move their IT assets to the cloud by providing a wide range of services, such as assessment, planning, implementation, and continuing support. In addition, the regulatory climate and data protection rules in the region have been comparatively favorable to cloud adoption, encouraging businesses to move their operations there. To modernize their IT infrastructure, improve data security, and gain a competitive edge in the market, sectors like healthcare, banking, retail, and manufacturing are increasingly using cloud migration services. With numerous providers struggling for market dominance, the cloud migration services market in North America is characterized by fierce rivalry. The acceptance of cloud migration services in the region has been accelerated by this competition's constant innovation and the release of cutting-edge migration tools and processes.
Competitive Scenario in the Global Cloud Migration Services Market
Investment and agreement are common strategies followed by major market players. One of the leading market players in the industry is Hackensack Meridian Health. To increase technological efficiency and security, Hackensack Meridian Health announced in November 2022, that it would move its Epic workloads to Google Cloud. More virtualized environment options will be available to healthcare providers due to the agreement between Google Cloud and Epic. With the ultimate goal of enhancing health outcomes, healthcare leaders like Hackensack Meridian Health have improved their business transformation by adopting the cloud and utilizing technology, such as artificial intelligence and analytics.
Some of the leading cloud migration services market players are IBM Corporation, SAP SE, Google LLC, Capgemini, Amazon Web Services, Inc., Microsoft, Hewlett Packard Enterprise Development LP, Accenture, and VMware, Inc.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Deployment Model |
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| Segmentation by Enterprise Size |
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Segmentation by End-use Industry
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| Key Companies Profiled |
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1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model.
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
2. Report Scope
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 Cloud Migration Services Market
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Cloud Migration Services Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
5. Cloud Migration Services Market, by Application
5.1. Overview
5.2. Project Management
5.2.1. Definition, key trends, growth factors, and opportunities
5.2.2. Market size analysis, by region, 2022-2032
5.2.3. Market share analysis, by country, 2022-2032
5.3. Infrastructure Management
5.3.1. Definition, key trends, growth factors, and opportunities
5.3.2. Market size analysis, by region, 2022-2032
5.3.3. Market share analysis, by country, 2022-2032
5.4. Security & Compliance Management
5.4.1. Definition, key trends, growth factors, and opportunities
5.4.2. Market size analysis, by region, 2022-2032
5.4.3. Market share analysis, by country, 2022-2032
5.5. Others
5.6. Research Dive Exclusive Insights
5.6.1. Market attractiveness
5.6.2. Competition heatmap
6. Cloud Migration Services Market, by End Use Vertical
6.1. Overview
6.2. BFSI
6.2.1. Definition, key trends, growth factors, and opportunities
6.2.2. Market size analysis, by region, 2022-2032
6.2.3. Market share analysis, by country, 2022-2032
6.3. Manufacturing
6.3.1. Definition, key trends, growth factors, and opportunities
6.3.2. Market size analysis, by region, 2022-2032
6.3.3. Market share analysis, by country, 2022-2032
6.4. Healthcare & Life Sciences
6.4.1. Definition, key trends, growth factors, and opportunities
6.4.2. Market size analysis, by region, 2022-2032
6.4.3. Market share analysis, by country, 2022-2032
6.5. IT & Telecommunications
6.5.1. Definition, key trends, growth factors, and opportunities
6.5.2. Market size analysis, by region, 2022-2032
6.5.3. Market share analysis, by country, 2022-2032
6.6. Consumer Goods & Retail,
6.6.1. Definition, key trends, growth factors, and opportunities
6.6.2. Market size analysis, by region, 2022-2032
6.6.3. Market share analysis, by country, 2022-2032
6.7. Government & Public Sector
6.7.1. Definition, key trends, growth factors, and opportunities
6.7.2. Market size analysis, by region, 2022-2032
6.7.3. Market share analysis, by country, 2022-2032
6.8. Media & Entertainment
6.8.1. Definition, key trends, growth factors, and opportunities
6.8.2. Market size analysis, by region, 2022-2032
6.8.3. Market share analysis, by country, 2022-2032
6.9. Others
6.9.1. Definition, key trends, growth factors, and opportunities
6.9.2. Market size analysis, by region, 2022-2032
6.9.2.1. Market share analysis, by country, 2022-2032
6.10. Research Dive Exclusive Insights
6.10.1. Market attractiveness
6.10.2. Competition heatmap
7. Cloud Migration Services Market, by Organization Size
7.1. Overview
7.2. Large Enterprises
7.2.1. Definition, key trends, growth factors, and opportunities
7.2.2. Market size analysis, by region, 2022-2032
7.2.3. Market share analysis, by country, 2022-2032
7.3. Small and Medium Sized Enterprises
7.3.1. Definition, key trends, growth factors, and opportunities
7.3.2. Market size analysis, by region, 2022-2032
7.3.3. Market share analysis, by country, 2022-2032
7.4. Research Dive Exclusive Insights
7.4.1. Market attractiveness
7.4.2. Competition heatmap
8. Cloud Migration Services Market, by Deployment Mode
8.1. Overview
8.2. Public Cloud
8.2.1. Definition, key trends, growth factors, and opportunities
8.2.2. Market size analysis, by region, 2022-2032
8.2.3. Market share analysis, by country, 2022-2032
8.3. Private Cloud
8.3.1. Definition, key trends, growth factors, and opportunities
8.3.2. Market size analysis, by region, 2022-2032
8.3.3. Market share analysis, by country, 2022-2032
8.4. Hybrid Cloud
8.4.1. Definition, key trends, growth factors, and opportunities
8.4.2. Market size analysis, by region, 2022-2032
8.4.3. Market share analysis, by country, 2022-2032
8.5. Research Dive Exclusive Insights
8.5.1. Market attractiveness
8.5.2. Competition heatmap
9. Cloud Migration Services Market, by Service
9.1. Overview
9.2. Managed Service
9.2.1. Definition, key trends, growth factors, and opportunities
9.2.2. Market size analysis, by region, 2022-2032
9.2.3. Market share analysis, by country, 2022-2032
9.3. Professional Service
9.3.1. Definition, key trends, growth factors, and opportunities
9.3.2. Market size analysis, by region, 2022-2032
9.3.3. Market share analysis, by country, 2022-2032
9.4. Research Dive Exclusive Insights
9.4.1. Market attractiveness
10. Competition heatmap
11. Cloud Migration Services Market, by Region
11.1. North America
11.1.1. U.S.
11.1.1.1. Market size analysis, by Application
11.1.1.2. Market size analysis, by End Use Vertical
11.1.1.3. Market size analysis, by Organization Size
11.1.1.4. Market size analysis, by Deployment Model
11.1.1.5. Market size analysis, by Service
11.1.2. Canada
11.1.2.1. Market size analysis, by Application
11.1.2.2. Market size analysis, by End Use Vertical
11.1.2.3. Market size analysis, by Organization Size
11.1.2.4. Market size analysis, by Deployment Model
11.1.2.5. Market size analysis, by Service
11.1.3. Mexico
11.1.3.1. Market size analysis, by Application
11.1.3.2. Market size analysis, by End Use Vertical
11.1.3.3. Market size analysis, by Organization Size
11.1.3.4. Market size analysis, by Deployment Model
11.1.3.5. Market size analysis, by Service
11.1.4. Research Dive Exclusive Insights
11.1.4.1. Market attractiveness
11.1.4.2. Competition heatmap
11.2. Europe
11.2.1. Germany
11.2.1.1. Market size analysis, by Application
11.2.1.2. Market size analysis, by End Use Vertical
11.2.1.3. Market size analysis, by Organization Size
11.2.1.4. Market size analysis, by Deployment Model
11.2.1.5. Market size analysis, by Service
11.2.2. UK
11.2.2.1. Market size analysis, by Application
11.2.2.2. Market size analysis, by End Use Vertical
11.2.2.3. Market size analysis, by Organization Size
11.2.2.4. Market size analysis, by Deployment Model
11.2.2.5. Market size analysis, by Service
11.2.3. France
11.2.3.1. Market size analysis, by Application
11.2.3.2. Market size analysis, by End Use Vertical
11.2.3.3. Market size analysis, by Organization Size
11.2.3.4. Market size analysis, by Deployment Model
11.2.3.5. Market size analysis, by Service
11.2.4. Spain
11.2.4.1. Market size analysis, by Application
11.2.4.2. Market size analysis, by End Use Vertical
11.2.4.3. Market size analysis, by Organization Size
11.2.4.4. Market size analysis, by Deployment Model
11.2.4.5. Market size analysis, by Service
11.2.5. Italy
11.2.5.1. Market size analysis, by Application
11.2.5.2. Market size analysis, by End Use Vertical
11.2.5.3. Market size analysis, by Organization Size
11.2.5.4. Market size analysis, by Deployment Model
11.2.5.5. Market size analysis, by Service
11.2.6. Rest of Europe
11.2.6.1. Market size analysis, by Application
11.2.6.2. Market size analysis, by End Use Vertical
11.2.6.3. Market size analysis, by Organization Size
11.2.6.4. Market size analysis, by Deployment Model
11.2.6.5. Market size analysis, by Service
11.2.7. Research Dive Exclusive Insights
11.2.7.1. Market attractiveness
11.2.7.2. Competition heatmap
11.3. Asia Pacific
11.3.1. China
11.3.1.1. Market size analysis, by Application
11.3.1.2. Market size analysis, by End Use Vertical
11.3.1.3. Market size analysis, by Organization Size
11.3.1.4. Market size analysis, by Deployment Model
11.3.1.5. Market size analysis, by Service
11.3.2. Japan
11.3.2.1. Market size analysis, by Application
11.3.2.2. Market size analysis, by End Use Vertical
11.3.2.3. Market size analysis, by Organization Size
11.3.2.4. Market size analysis, by Deployment Model
11.3.2.5. Market size analysis, by Service
11.3.3. India
11.3.3.1. Market size analysis, by Application
11.3.3.2. Market size analysis, by End Use Vertical
11.3.3.3. Market size analysis, by Organization Size
11.3.3.4. Market size analysis, by Deployment Model
11.3.3.5. Market size analysis, by Service
11.3.4. Australia
11.3.4.1. Market size analysis, by Application
11.3.4.2. Market size analysis, by End Use Vertical
11.3.4.3. Market size analysis, by Organization Size
11.3.4.4. Market size analysis, by Deployment Model
11.3.4.5. Market size analysis, by Service
11.3.5. South Korea
11.3.5.1. Market size analysis, by Application
11.3.5.2. Market size analysis, by End Use Vertical
11.3.5.3. Market size analysis, by Organization Size
11.3.5.4. Market size analysis, by Deployment Model
11.3.5.5. Market size analysis, by Service
11.3.6. Rest of Asia Pacific
11.3.6.1. Market size analysis, by Application
11.3.6.2. Market size analysis, by End Use Vertical
11.3.6.3. Market size analysis, by Organization Size
11.3.6.4. Market size analysis, by Deployment Model
11.3.6.5. Market size analysis, by Service
11.3.7. Research Dive Exclusive Insights
11.3.7.1. Market attractiveness
11.3.7.2. Competition heatmap
11.4. LAMEA
11.4.1. Brazil
11.4.1.1. Market size analysis, by Application
11.4.1.2. Market size analysis, by End Use Vertical
11.4.1.3. Market size analysis, by Organization Size
11.4.1.4. Market size analysis, by Deployment Model
11.4.1.5. Market size analysis, by Service
11.4.2. Saudi Arabia
11.4.2.1. Market size analysis, by Application
11.4.2.2. Market size analysis, by End Use Vertical
11.4.2.3. Market size analysis, by Organization Size
11.4.2.4. Market size analysis, by Deployment Model
11.4.2.5. Market size analysis, by Service
11.4.3. UAE
11.4.3.1. Market size analysis, by Application
11.4.3.2. Market size analysis, by End Use Vertical
11.4.3.3. Market size analysis, by Organization Size
11.4.3.4. Market size analysis, by Deployment Model
11.4.3.5. Market size analysis, by Service
11.4.4. South Africa
11.4.4.1. Market size analysis, by Application
11.4.4.2. Market size analysis, by End Use Vertical
11.4.4.3. Market size analysis, by Organization Size
11.4.4.4. Market size analysis, by Deployment Model
11.4.4.5. Market size analysis, by Service
11.4.5. Rest of LAMEA
11.4.5.1. Market size analysis, by Application
11.4.5.2. Market size analysis, by End Use Vertical
11.4.5.3. Market size analysis, by Organization Size
11.4.5.4. Market size analysis, by Deployment Model
11.4.5.5. Market size analysis, by Service
11.4.6. Research Dive Exclusive Insights
11.4.6.1. Market attractiveness
11.4.6.2. Competition heatmap
12. Competitive Landscape
12.1. Top winning strategies, 2022
12.1.1. By strategy
12.1.2. By year
12.2. Strategic overview
12.3. Market share analysis, 2022
13. Company Profiles
13.1. IBM Corporation
13.1.1. Overview
13.1.2. Business segments
13.1.3. Product portfolio
13.1.4. Financial performance
13.1.5. Recent developments
13.1.6. Audi
13.2. SAP SE
13.2.1. Overview
13.2.2. Business segments
13.2.3. Product portfolio
13.2.4. Financial performance
13.2.5. Recent developments
13.2.6. SWOT analysis
13.3. Google LLC
13.3.1. Overview
13.3.2. Business segments
13.3.3. Product portfolio
13.3.4. Financial performance
13.3.5. Recent developments
13.3.6. SWOT analysis
13.4. Capgemini
13.4.1. Overview
13.4.2. Business segments
13.4.3. Product portfolio
13.4.4. Financial performance
13.4.5. Recent developments
13.4.6. SWOT analysis
13.5. Amazon Web Services, Inc.
13.5.1. Overview
13.5.2. Business segments
13.5.3. Product portfolio
13.5.4. Financial performance
13.5.5. Recent developments
13.5.6. SWOT analysis
13.6. Microsoft
13.6.1. Overview
13.6.2. Business segments
13.6.3. Product portfolio
13.6.4. Financial performance
13.6.5. Recent developments
13.6.6. SWOT analysis
13.7. Hewlett Packard Enterprise Development LP
13.7.1. Overview
13.7.2. Business segments
13.7.3. Product portfolio
13.7.4. Financial performance
13.7.5. Recent developments
13.7.6. SWOT analysis
13.8. Accenture
13.8.1. Overview
13.8.2. Business segments
13.8.3. Product portfolio
13.8.4. Financial performance
13.8.5. Recent developments
13.8.6. SWOT analysis
13.9. VMware, Inc.
13.9.1. Overview
13.9.2. Business segments
13.9.3. Product portfolio
13.9.4. Financial performance
13.9.5. Recent developments
13.9.6. SWOT analysis
13.10. Taste Tech Ltd
13.10.1. Overview
13.10.2. Business segments
13.10.3. Product portfolio
13.10.4. Financial performance
13.10.5. Recent developments
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