The global cloud migration services markt is projected to reach USD 7.46 billion by the end of 2023, with a CAGR of 24.2% from 2017 to 2023.cloud computing services offer organizations with features comprising of flexibility, increased collaboration, disaster recovery, security, reliability, manageability, and more. In line with these benefits organizations are increasingly adoption cloud based services including public, private, and hybrid cloud environments. As a result, of the adoption of cloud based services organizations need to move their infrastructure, application, and business processes to the cloud. This migration process consists of different complications including service interruptions, service delays, and more. To overcome these difficulties organizations adopt cloud migration services.
Cloud migration services provide reference architecture and methodologies to move cloud applications to the cloud according to the organizations necessities. Adopting cloud migration services enables organizations to implement enhanced security to data that is moved to the cloud by using encryption techniques.
Cloud migration services market is driven by factors comprising of increasing demand of migrating applications and business processes to the cloud, adopting enhanced security, flexibility, and reducing operational costs.
The report segments the global cloud migration services market by application, by service type, by vertical and by region. The application includes project management, storage management and performance management. The service type includes application load and testing, application management and monitoring, cloud integration, disaster recovery, professional services and managed services. The vertical includes BFSI, consumer goods and retail, government and public sector, healthcare, manufacturing, telecommunication and IT, travel and hospitality, and among others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. North America leads the global cloud migration services market followed by Europe and Asia-Pacific. The cloud migration services market in Asia-Pacific is projected to reflect highest CAGR over the forecast period. The attractiveness of the cloud migration services market in the Asia-Pacific region is result of increasing adoption of hybrid deployment models adopted by organizations to migrate their workloads.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of cloud migration services globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of cloud migration services. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the cloud migration services market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the cloud migration services market to understand the present and future trends in this market and formulate their strategies accordingly.
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