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 process of migrating an organization’s on-premise data, workloads, and applications to a cloud platform utilizing a variety of resources is known as cloud migration. A cloud migration plan allows a corporation to host data and applications in the fastest, safest, and most cost-effective IT environment imaginable. By shifting to the Cloud, a company can expand up to meet bigger workloads systematically. It efficiently bridges the rising gap between business demand and the IT capability of the enterprise. As a consequence of rising expenditures from small and medium organizations, cloud migration computing utilization has expanded over the previous decade. Many businesses all around the world have already made the switch to cloud services and are reaping the rewards.
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
Market Segment by Regions and Countries Level Analysis:
- 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)
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.
COVID-19 Impact Analysis on the Cloud Migration Market
When cloud providers declined to only 31% annually by the end of 2019, the cloud migration market was also negatively impacted. As the industry matures, this rate was expected to (slowly) decline even more in 2020 and 2021. Despite this, cloud growth continued to outpace that of many other industries. Given the fall in expenditure across several sectors brought on by the COVID-19 pandemic and the ensuing global recession, it would not have been unexpected to see cloud spending decline by a few percentage points in 2020. The cloud market, in contrast, has proved very durable.
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