Cloud Migration Services Market (CAGR 21.50%) Impressive Gains including key players: Cognizant Technology Solutions Corp., Tech Mahindra, Accenture Plc
The global cloud migration service market was valued at USD 3.10 billion in 2017 and is expected to reach a value of USD 9.98 billion by 2023 at a CAGR of 21.50% over the forecast period of 2018-2023
The report provides a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. Cloud Migration Services Market study provides comprehensive data which enhances the understanding, scope and application of this report.
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The Cloud Migration Services market is highly competitive and consists of a number of major players. Top Companies like Cognizant Technology Solutions Corp., Tech Mahindra, Accenture Plc, Amazon Web Services, Microsoft Corporation, Google, Inc., Cisco Systems, Inc., Wsm International Llc, Computer Sciences Corporation, Rackspace Hosting, Inc., Rightscale, Inc., Ntt Data Corporation, Vmware, Inc., Ibm Corporation, Nintec Systems Ltd, And Evolve Ip,
Scope of the Report
A large number of enterprises from various industries have started appreciating and adopting advanced technologies. One of the most popular trends amongst these are industries migrating to cloud. Cloud computing encourages enterprises to serve their clients via the internet while offering a flexible and cost-friendly alternative. However, before migrating to cloud, enterprises need to thoroughly analyze and understand the different aspects of cloud migration, such as financial, security, and technical aspects.
Key Market Trends
Growing Number of Initiatives for BYOD
BYOD is having a significant impact on the enterprises as they realize the advantages in terms of cost saving, productivity, and flexibility. A survey by Cisco reported that 69% of the IT decision makers favor BYOD as an optimistic addition to workplace policy as it saves workers time. Mobile workers account for nearly 90% of the workforce in the United States alone. It offers improved productivity and collaboration by tying geographically distributed offices together, integrates and streamlines communications. With the increasingly creative approaches of businesses towards improving workplace satisfaction and productivity, BYOD helps the employees feel balanced while embracing the technology. According to IBM, more than 80% of the employees feel smart-phones will become an integral part of the workplace in the future. This inclination of employees and companies towards BYOD is leading to the growth of the market as it requires cloud migration services.
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Professional Services Leads The Market
Migration consulting service providers distinguish between workloads eligible for migration onto a cloud environment, indirectly, saving on resources and expenses before migrating the complete workload. Training services strive to offer various educational programs to mitigate knowledge gaps. The support, training, and maintenance services segment provide customer support abilities to industry verticals in the case of security threats and privacy breaches. As the demand for data security increases, the dependence on cloud also increases, indirectly boosting the growth of the global cloud migration services market.
Asia-Pacific to be the Major Contributor
Cloud migrations services market in the Asia-Pacific is expected to witness rapid growth, owing to the increasing number of SMEs in these region and growing penetration of advanced technologies. The technological development and increasing adoption rate in countries, such as India, China, and South Korea help in the growth of the cloud migration services market in Asia-Pacific. China and India are expected to play a prominent role in the technology, while Japan is expected to see improving penetration over the forecast period.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Europe and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Cloud Migration Services Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2023 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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