Cloud Migration Services Global Market Report 2024

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.

The main types of cloud migration services are application hosting and monitoring, automation and integration, DevOps, professional services, managed services, and other service types (recovery solutions). Managed services refer to information technology (IT) tasks provided by a third-party contractor and delivered to a customer. The enterprise sizes are large, small, and medium-sized enterprises (SMEs). The deployment models are public cloud, private cloud, and hybrid cloud. The applications included project management, infrastructure management, security and compliance management, and other applications. The various industries involved are BFSI, IT and telecommunications, healthcare, manufacturing, retail, government, media, entertainment, and other industries.

The cloud migration services market research report is one of a series of new reports that provides cloud migration services market statistics, including cloud migration services industry global market size, regional shares, competitors with a cloud migration services market share, detailed cloud migration services market segments, market trends and opportunities, and any further data you may need to thrive in the cloud migration services industry. This cloud migration services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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.

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.

The increasing demand for the internet is expected to propel the growth of the cloud migration services market going forward. Internet is a vast global network of computers and computer networks which allows devices to communicate and share information with one another, regardless of their physical location. Internet is used for cloud migration services in transfer of data between on-premises systems and cloud platforms for organizations to migrate their applications, databases, and files to the cloud. For instance, in February 2023, according to Meltwater, a Netherlands-based software company, internet users in the UK climbed by 224 thousand (+0.3 percent) between 2022 and 2023. There were 66.11 million internet users in the UK overall. Therefore, the increasing demand for the internet is driving the growth of the cloud migration services market.

Product innovation is the key trend gaining popularity in the cloud migration services market. Major companies operating in the cloud migration services market are focused on developing new product innovations to strengthen their position. For instance, in July 2021, DXC Technology, a US-based company operating in cloud migration services, introduced a 'pay-per-use' cloud consumption service model that has been part of its hybrid cloud and multi-cloud offerings, expanding upon its partnerships with VMware and Amazon Web Services Inc. (AWS). The first of its kind in the Asia-Pacific region, this integrated, scalable, and secure platform provides customers with a bridge from their on-premises environments to the cloud with no minimum term or volume commitments. DXC’s customers from Australia and New Zealand would be able to migrate and extend their existing VMware environments to AWS while keeping their mission-critical infrastructure on-premises.

Major companies operating in the cloud migration services market are innovating new technological products such as AWS Application Migration Service to increase their profitability in the market. AWS Application Migration Service is a service that automates the conversion of source servers to run natively on AWS, minimizing time-intensive, error-prone manual processes. For instance, in May 2021, Amazon Web Services, Inc., a US-based cloud computing company launched AWS Application Migration Service. AWS Application Migration Service can migrate applications such as Oracle, and Structured Query Language (SQL) Server running on physical servers, on-premises infrastructure, and public clouds to AWS. This service simplifies application modernization with built-in and custom optimization options.

In August 2022, Microsoft Corporation, a US-based technology company, acquired Movere Inc. for an undisclosed amount. With this acquisition, Microsoft aims to help customers move their existing applications and infrastructure to Azure, a cloud computing platform. Movere Inc. is a US-based software-as-a-service (SaaS) company that provides cloud migration services.

Major companies operating in the 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.

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

The countries covered in the cloud migration services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The cloud migration services market consists of revenues earned by entities by providing repurchasing and re-platforming. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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