Cloud Migration Services Market – Rise in Adoption of Cloud Computing is expected to Lead Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 24.3% from 2022 to 2028

Cloud Migration Services
  • Cloud Migration Services Market

As stated in our extensive report; the Global Cloud Migration Services Market accounted forUSD 92.4 Billionin the year 2021.

The need for cost-effective data storage solutions is a significant aspect contributing to the growth of the Cloud Migration Services market. Cloud migrations involve moving data, applications, and other business elements to a cloud computing environment. They are becoming popular among SMEs and large enterprises as it offers a cost-effective alternative and business agility. In addition, an enterprise can perform numerous kinds of cloud migrations.

Cloud Migration Services combine the knowledge of research & innovation along with the complete lifecycle of cloud-ready solutions to supply accelerated Time-to-Market (TTM) and enhanced operational processes.

Key factors influencing Cloud Migration Services Market Growth

The growth of the Cloud Migration Services global market can be attributable to the following:-

1. Increasing implementation of cloud computing is a significant factor driving the global Cloud Migration Services market growth. And this adoption of cloud computing has augmented owing to the rising investments from small and medium enterprises, which is expected to boost the Cloud Migration Services market.

2. The change from the CAPEX model to the OPEX model and the adoption of container-as-a-service will positively impact the market growth.

3. Significantly, Cloud Migration Services facilitate market players to move applications and databases from a legacy, on-premise IT infrastructure to the public cloud, including operating cost optimization strategy, setting monitoring tools, and transferring knowledge to in-house teams.

North America market is Expected to Dominate the Global Market

North Americaholds the largest share in theCloud Migration Servicesmarket and is likely to continue in the forecast period. This surge is because of the increasing adoption of Cloud Migration Services due to the presence of large enterprises and enhanced technical expertise in this region. In addition, the rising investments in digital solutions such as digital healthcare solutions, digital banking, advanced manufacturing systems, and connected solutions will support the market growth in this region. Moreover, organizations are fuelling regional market growth by implementing the latest technologies like Big Data, cloud solutions, mobility, and social media. Besides, the strong foothold on cloud migration vendors will contribute to the market's growth in this region.

Conclusion

As per Vantage Market Research, there has been exponential growth in the Cloud Migration Services, supported by the surge in internet penetration and fast adoption of highly developed technologies like AI and Machine Learning.

Some of the key players in the Global Cloud Migration Services Market include- AWS (US), IBM (US), Microsoft (US), Google (US), Cisco (US), NTT Data (Japan), DXC (US), VMware (US), Rackspace (US), Informatica (US), WSM (US), Zerto (US), Virtustream (US), RiverMeadow (US), OpenStack (US) and others.