Global Cloud Migration Services Market Research 2024, Forecast To 2033
16 Feb, 2024
The cloud migration services market has demonstrated rapid growth, advancing from $197.08 billion in 2023 to $233.94 billion in 2024, reflecting an 18.7% compound annual growth rate (CAGR). Historical growth is attributed to cost savings, operational efficiency, scalability, flexibility demands, legacy system modernization needs, security concerns, and compliance. Projected for exponential growth, the market is set to reach $505.85 billion in 2028, driven by accelerated digital transformation initiatives, increased focus on hybrid and multi-cloud environments, growth in edge computing, integration with DevOps and agile development, and emphasis on data migration and management. Key trends encompass serverless computing, microservices architecture adoption, zero trust security models, AI-driven automation in cloud migration, and shift towards cloud-native development and architecture.
Global Cloud Migration Services Market Key Driver
The rise in the adoption of automation solutions is expected to propel the cloud migration services market. Automation solutions, which aim to enhance efficiency and accuracy by replacing manual procedures, are increasingly adopted by organizations. Cloud migration services provide the necessary tools and automation for secure cloud migration. The data from Formstack highlights the high adoption of automation by organizations. The increased adoption of automation solutions is driving the growth of the cloud migration services market.
Get A Free Sample Of The Global Cloud Migration Services Market ReportGlobal Cloud Migration Services Market Segments
The cloud migration services market covered in this report is segmented –
1) By Service Type: Application Hosting And Monitoring, Automation And Integration, DevOps, Professional Service, Managed Service, Other Service Types
2) By Enterprise Size: Large Enterprises, Small And Medium Sized Enterprises (SMEs)
3) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
4) By Application: Project Management, Infrastructure Management, Security And Compliance Management, Other Applications
5) By Industry: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Manufacturing, Retail, Government, Media And Entertainment, Other Industries
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas 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
Major Cloud Migration Services Industry Players
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.
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Cloud Migration Services Market Overview
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.
Cloud Migration Services Global Market Report 2023 provides data on the global cloud migration services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cloud migration services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.