The Global Cloud Migration is expected at USD 136.65 Billion in the year 2021 and is predicted to reach USD 539.38 Billion by 2028, with a CAGR of 21.67% over the forecasted period.
The practice of moving all of an organization’s on-premise data, workloads, and applications to a cloud infrastructure is referred to as cloud migration. The approach enables a business to host data and applications in the best feasible IT environment in terms of cost, performance, and security. A business may expand by using cloud migration to handle heavier demands. It successfully closes the gap between the organization’s IT capability and business needs.
Major Key Players for Cloud Migration:
Oracle Corporation,Microsoft Corporation,IBM Corporation,Amazon Web Services,Google Inc.,Cisco Systems,RiverMeadow Software,Rackspace US,Informatica,OVH US LLC
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Market Dynamics and Factors:
Could Migration have been a major trend in various verticals to manage data at a large scale. The benefits of moving to the cloud include scalability, increased effectiveness, faster deployment, adaptability, and disaster recovery. Customers may use cloud disaster recovery capabilities from a variety of companies to help them expand their enterprises. Cloud migration is gaining traction due to its real-time experience, business components, and access to on-premise data. This technology also simplifies the setup of several business units in a short period. The proliferation of cloud and industrialized services, as well as the collapse of traditional data center outsourcing (DCO), signal a significant move toward hybrid infrastructure.
Even though conventional Cloud migration is on the down, spending on colocation and hosting, as well as infrastructure utility services, is on the rise. As a result, the move to cloud IaaS and hosting is projected to be hastened. Migration for PaaS, IaaS, and SaaS has grown in importance in recent years. DevOps technologies and automation are currently being used by businesses, and they are becoming increasingly crucial in understanding the technological and commercial benefits of cloud adoption.
Cloud Migration Segmentation:
By Service
- SaaS
- PaaS
- IaaS
By End-User
- Manufacturing
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Logistics
- Education
Geographic Segment Covered in the Report
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
March 2021, With the introduction of new Oracle Cloud Lift Services, Oracle Inc. clients now have greater access to technical expertise and cloud engineering tools for expeditious workload migration to Oracle Cloud Infrastructure (OCI). All current and future Oracle Cloud customers globally are now able to use these resources from Oracle at no additional cost.
December 2021, Deloitte agreed to buy nearly all of e BIAS’s assets. BIAS is a leader in the Oracle Cloud Infrastructure (OCI) sector with skilled cloud specialists situated in the US and India.
Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Cloud Migration study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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