Report Scope & Overview:
The Cloud Migration Services Market was valued at USD 11.54 billion in 2022 and is predicted to increase at a CAGR of 25.5 % from 2023 to 2030, reaching USD 71.05 billion.
Cloud computing use has increased over the last decade as a result of increased expenditures from small and medium businesses. Many enterprises throughout the world have already made the transition to cloud platforms to reap the benefits. Cloud adoption has been an important issue for IT cost reduction efforts in recent years. Cloud computing is predicted to create USD 411 billion in income by 2021, according to a report published by CenturyLink, a telecommunications firm.
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Scalability, improved efficiency, faster deployment, mobility, and disaster recovery are all good reasons to migrate to the cloud. Customers can take advantage of a range of enterprise cloud-based disaster recovery capabilities to help businesses grow. With real-time operations, business components, and access to on-premises data, migration to the cloud is becoming more attractive. This technology also simplifies the creation of multiple departments in a company in a short period of time.
The rise of cloud and industrialized services, as well as the demise of conventional data center outsourcing (DCO), point to a significant transition toward hybrid infrastructure. While the traditional DCO market is contracting, spending on colocation and hosting, as well as infrastructure utility services, is skyrocketing. The migration to cloud IaaS and hosting is projected to be accelerated as a result of this. In recent years, migration for PaaS, IaaS, and SaaS has become increasingly important. Companies are also adopting DevOps skills and automation, which are becoming increasingly important in reaping the technical and financial benefits of cloud adoption.
In comparison to other cloud services, hybrid cloud migration has seen tremendous growth over the last few years. Using a hybrid cloud allows businesses to expand computer resources and reduces the need for large amounts of money to accommodate short-term demand surges. Many cloud providers provide the capacity to swiftly build infrastructure in numerous global locations, allowing a company to easily grow into new markets. According to the RightScale 2019 State of the Cloud Survey Report, 84 percent of businesses have a multi-cloud strategy, with 58 percent using a hybrid approach, while businesses using several public clouds or private clouds saw a modest increase.
COVID-19 impact Analysis:
While the standalone 8x8 Video Meetings cloud service saw a 300 percent rise in registered users across 140 countries in early 2020. Google Hangouts, Cisco Webex, Slack, Zoom, Ding Talk, WeChat Work, and Tencent Meeting are some of the other prominent SaaS-based collaboration applications that are gaining appeal.
Because the majority of the population is remaining at home owing to country lockdowns, demand for streaming sites such as Netflix, Hulu, Amazon, Disney+, Twitch, YouTube, and Apple TV has increased significantly. With the rise of Video-on-Demand (VoD), the demand for IaaS to meet customer demands has skyrocketed.
Cloud Computing Market Dynamics:
Drivers
Enterprises are concerned about the expenses of data hosting on-premises, both in terms of deployment and maintenance.
Electricity prices, employee expenses, and downtime difficulties are a few other worries for businesses.
Restraints
Increasing data breaches and cyber-attacks, and growing data security concerns.
Furthermore, firms must strive to remain competitive by adhering to regulatory standards, avoiding financial penalties, preventing customer and revenue losses, and avoiding legal action.
Challenges
Cloud computing services assist businesses in increasing efficiency and lowering expenses.
Furthermore, these services provide a variety of benefits, such as flexibility, scalability, and agility.
Opportunities
Enterprises are willing to use a hybrid strategy to gain the benefits of both on-premises and cloud services.
Small businesses are increasingly turning to cloud computing services because of the numerous advantages they offer.
Key Market Segmentation:
Based on Service Type:
Manages Services
Professional Services
Based on Applications:
Project Management
Infrastructure Management
Security & Compliance Management
Others
Based on Organization Size:
Small and Medium-sized Enterprises (SMEs)
Large Enterprises
Based on Deployment Mode:
Public Cloud
Private Cloud
Hybrid Cloud
Based on Industry Verticals:
BFSI
Manufacturing
Healthcare & Life Sciences
IT & Telecommunications
Consumer Goods & Retail
Government & Public Sector
Media & Entertainment
Others
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Regional Analysis:
North America is likely to lead the worldwide market for cloud migration services. The region's substantial share may be ascribed to the region's expanding internet penetration and quick adoption of new technologies such as artificial intelligence and machine learning. During the projection period, Europe is expected to have a considerable market share, followed by North America. The introduction of fifth-generation wireless technology is projected to enhance regional market growth. During the predicted period, Asia Pacific is expected to increase at a good growth rate. India and China have made significant strides in boosting the use of cloud-based technology. Google announced a USD 9.8 billion investment as a digitization fund in July 2020 to promote India's digital economy. As a result, the area is anticipated to present new business prospects for cloud migration service providers.
Based on Regions:
North America
US
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Netherlands
Rest of Europe
APAC
China
Japan
Australia
Singapore
India
South Korea
Rest of APAC
MEA
Saudi Arabia
UAE
Qatar
South Africa
Rest of MEA
Latin America
Brazil
Mexico
Rest of Latin America
Key Market Players:
The key players include Amazon Web Services (AWS) Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Google LLC, Cisco Systems Inc, NTT Data corporation, DXC Technology Company, VMware inc., Rackspace Hosting Inc., Informatica Inc., WSM international, Zerto Ltd., Virtustream Inc., RiverMeadow Software Inc., OpenStack Inc.and others dominate the cloud computing business. These suppliers have a huge client base and a broad geographic presence, as well as well-organized distribution systems, which aids in revenue growth.
VMware Inc - Company Financial View
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 11.54 Bn |
| Market Size by 2030 | US$ 71.05 Bn |
| CAGR | CAGR of 25.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
|
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles |
Amazon Web Services (AWS) Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Google LLC, Cisco Systems Inc, NTT Data Corporation, DXC Technology Company, VMware inc., Rackspace Hosting Inc., Informatica Inc., WSM international, Zerto Ltd., Virtustream Inc., RiverMeadow Software Inc., and OpenStack Inc. |
| Key Drivers | • Enterprises are concerned about the expenses of data hosting on-premises, both in terms of deployment and maintenance. |
| Market Opportunities | • Enterprises are willing to use a hybrid strategy to gain the benefits of both on-premises and cloud services. |
cloud migration services market size valued at US$ 11.54 bn by the end of 2022.
North America is dominating the Cloud Migration Services Market globally over the forecasted period.
Cloud Migration Services Market is to grow at CAGR of 25.5% During the Forecast period 2023-2030.
Increasing requirement for cost-effective data-storage solutions to drive market growth.
The key players include Amazon Web Services (AWS) Inc., International Business Machines (IBM) Corporation, Microsoft Corporation, Google LLC, Cisco Systems Inc & More are included.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cloud Migration Services Market, by Service Type
8.1 Managed Services
8.2 Professional Services
9. Cloud Migration Services Market, by Applications
9.1 Project Management
9.2 Infrastructure Management
9.3 Security & Compliance Management
9.4 Others
10. Cloud Migration Services Market, by Organization Size
10.1 Small and Medium-sized Enterprises (SMEs)
10.2 Large Enterprises
11. Cloud Migration Services Market, by Deployment Mode
11.1 Public Cloud
11.2 Private Cloud
11.3 Hybrid Cloud
12. Cloud Migration Services Market, by Industry Verticals
12.1 BFSI
12.2 Manufacturing
12.3 Healthcare & Life Sciences
12.4 IT & Telecommunications
12.5 Consumer Goods & Retail
12.6 Government & Public Sector
12.7 Media & Entertainment
12.8 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Amazon Web Services (AWS) Inc.
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 International Business Machines (IBM) Corporation
14.3 Microsoft Corporation
14.4 Google LLC
14.5 Cisco Systems Inc.
14.6 NTT Data corporation
14.7 DXC Technology Company
14.8 VMware inc.
14.9 Rackspace Hosting Inc.
14.10 Informatica Inc.
14.11 WSM International
14.12 Zerto Ltd.
14.14 Virtustream Inc.
14.14 RiverMeadow Software Inc.
14.15 OpenStack Inc.
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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