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Global Cloud Migration Services Market: By Service Model: Managed Services, Professional Services; By Deployment Mode; By Application; By Organization Size; By Industry Vertical; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Cloud Migration Services Market Outlook

The global cloud migration services market attained a value of about USD 110.4 billion in 2020. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 24.6% to reach nearly USD 413.3 billion by 2026.

 

Global Cloud Migration Services Market

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Rising Demand for Cloud Migration Services in the Banking and Financial Sectors is Catalysing the Market Growth

The rapid digital transformation in the banking, financial services, and insurance (BFSI) industry is propelling the market growth of cloud migration services. As the demand for transparency and remote accessibility in the financial sector is significantly surging, major companies are leveraging cloud migration services to transform their business models and consumer experience, which is propelling the industry growth. Moreover, the cost-effectiveness of cloud migration is increasing the demand to increase innovation and collaboration in the industry, which is further augmenting the industry growth. The development of advanced cloud storage with enhanced security and optimal architecture is increasing the deployment of cloud migration services, which is providing further impetus to the industry growth. In addition, the advent of fintech, which extensively utilises technology, is surging the demand for cloud migration services, hence invigorating the market growth. This trend has been accelerated during the COVID-19 crisis, which led to an escalation in cloud services owing to prolonged lockdowns, stay-at-home orders, and rapid digitisation of various financial services. This is expected to further augment owing to the growing popularity of digital tools and online banking, which is projected to propel the growth of the cloud migration services industry in the forecast period.

 

Cloud Migration Services: Market Segmentation

Cloud migration services refer to the services that are utilised by organisations for the digital transformation of their businesses. They provide tools and resources that aid in the smooth and effective transition of database to cloud computing. They increase cost-effectiveness, flexibility, and productivity in the long run for various organisations, due to which it is increasingly being adopted.

 

Global Cloud Migration Services Market by Segment

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The major service models of cloud migration services are:

  • Managed Services
  • Professional Services

The market can be broadly categorised on the basis of its deployment mode into:

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Based on application segments, the market is divided into:

  • Project Management
  • Infrastructure Management
  • Security and Compliance Management
  • Others

By organisation size, the market is classified into:

  • Large Enterprises
  • Small and Medium Enterprises

On the basis of industry verticals, the industry is segmented into:

  • Banking, Financial Services and Insurance (BFSI)
  • Manufacturing
  • Healthcare and Life Sciences
  • IT and Telecommunications
  • Consumer Goods and Retail
  • Government and Public Sector
  • Media and Entertainment
  • Others

The EMR report looks into the regional markets of cloud migration services like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Cloud Migration Services Market by Region

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Increasing Use of Cloud Migration Services by Governments and Public Bodies to Augment the Market Growth

The introduction of various governments initiatives to promote cloud computing to increase the transparency and accessibility of the database is augmenting the market growth. The increasing requirement of Cloud First policy to develop new capabilities for efficient transition initiated by various governments, such as the India Ministry of Electronics and Information Technology, is providing further impetus to the growth of the cloud migration services industry. Moreover, government and public bodies are increasingly preferring multi-cloud offerings to prevent the risk of data loss amidst technical errors of a cloud, which further propelling the demand for cloud migration services.

 

Rising Adoption of Sustainable Approaches in Several Enterprises to Bolster the Growth of the Cloud Migration Services

The increasing adoption of sustainable methods in various enterprises is increasing the demand for cloud storage as it reduces energy wastage and carbon footprint, consequently surging the adoption of cloud migration services. As remote work becomes the new norm, various businesses are rapidly adopting cloud computing. This is consequently increasing the demand for cloud migration services, which is propelling the market growth. The extensive use of cloud computing by organisations is expected to increase the requirement for third-party vendors to address cloud challenges and maintain cloud infrastructure. This is projected to escalate the use of cloud migration services, which is estimated to augment the industry growth.

 

Key Industry Players in the Global Cloud Migration Services Market

The report presents a detailed analysis of the following key players in the global cloud migration services market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Amazon Web Services, Inc.
  • Cisco Systems, Inc.
  • DXC Technology Co.
  • Google LLC
  • International Business Machines Corporation
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Service Model, Deployment Mode, Application, Organization Size, Industry Vertical, Region
Breakup by Service Model Managed Services, Professional Services
Breakup by Deployment Mode Public Cloud, Private Cloud, Hybrid Cloud
Breakup by Application Project Management, Infrastructure Management, Security and Compliance Management, Others
Breakup by Organization Size Large Enterprises, Small and Medium Enterprises
Breakup by Industry Vertical Banking, Financial Services and Insurance (BFSI), Manufacturing, Healthcare and Life Sciences, IT and Telecommunications, Consumer Goods and Retail, Government and Public Sector, Media and Entertainment, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Amazon Web Services, Inc., Cisco Systems, Inc., DXC Technology Co., Google LLC, International Business Machines Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Cloud Migration Services Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Cloud Migration Services Historical Market (2017-2021) 
    8.3    Global Cloud Migration Services Market Forecast (2022-2027)
    8.4    Global Cloud Migration Services Market by Service Model
        8.4.1    Managed Services
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Professional Services
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Cloud Migration Services Market by Deployment Mode
        8.5.1    Public Cloud
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Private Cloud
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Hybrid Cloud
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
    8.6    Global Cloud Migration Services Market by Application
        8.6.1    Project Management
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Infrastructure Management
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Security and Compliance Management
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Others
    8.7    Global Cloud Migration Services Market by Organization Size
        8.7.1    Large Enterprises
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021)
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Small and Medium Enterprises
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021)
            8.7.2.3    Forecast Trend (2022-2027)
    8.8    Global Cloud Migration Services Market by Industry Vertical
        8.8.1    Banking, Financial Services and Insurance (BFSI)
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2017-2021)
            8.8.1.3    Forecast Trend (2022-2027)
        8.8.2    Manufacturing
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2017-2021)
            8.8.2.3    Forecast Trend (2022-2027)
        8.8.3    Healthcare and Life Sciences
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2017-2021)
            8.8.3.3    Forecast Trend (2022-2027)
        8.8.4    IT and Telecommunications
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2017-2021)
            8.8.4.3    Forecast Trend (2022-2027)
        8.8.5    Consumer Goods and Retail
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2017-2021)
            8.8.5.3    Forecast Trend (2022-2027)
        8.8.6    Government and Public Sector
            8.8.6.1    Market Share
            8.8.6.2    Historical Trend (2017-2021)
            8.8.6.3    Forecast Trend (2022-2027)
        8.8.7    Media and Entertainment
            8.8.7.1    Market Share
            8.8.7.2    Historical Trend (2017-2021)
            8.8.7.3    Forecast Trend (2022-2027)
        8.8.8    Others
    8.9    Global Cloud Migration Services Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Amazon Web Services, Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Cisco Systems, Inc.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    DXC Technology Co.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Google LLC
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    International Business Machines Corporation
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Cloud Migration Services Market: Key Industry Highlights, 2016 and 2026
2.    Global Cloud Migration Services Historical Market: Breakup by Service Model (USD Billion), 2017-2021
3.    Global Cloud Migration Services Market Forecast: Breakup by Service Model (USD Billion), 2022-2027
4.    Global Cloud Migration Services Historical Market: Breakup by Deployment Mode (USD Billion), 2017-2021
5.    Global Cloud Migration Services Market Forecast: Breakup by Deployment Mode (USD Billion), 2022-2027
6.    Global Cloud Migration Services Historical Market: Breakup by Organization Size (USD Billion), 2017-2021
7.    Global Cloud Migration Services Market Forecast: Breakup by Organization Size (USD Billion), 2022-2027
8.    Global Cloud Migration Services Historical Market: Breakup by Industry Vertical (USD Billion), 2017-2021
9.    Global Cloud Migration Services Market Forecast: Breakup by Industry Vertical (USD Billion), 2022-2027
10.    Global Cloud Migration Services Historical Market: Breakup by Region (USD Billion), 2017-2021
11.    Global Cloud Migration Services Market Forecast: Breakup by Region (USD Billion), 2022-2027
12.    North America Cloud Migration Services Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    North America Cloud Migration Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Europe Cloud Migration Services Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Europe Cloud Migration Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Asia Pacific Cloud Migration Services Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Asia Pacific Cloud Migration Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Latin America Cloud Migration Services Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Latin America Cloud Migration Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Middle East and Africa Cloud Migration Services Historical Market: Breakup by Country (USD Billion), 2017-2021
21.    Middle East and Africa Cloud Migration Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
22.    Global Cloud Migration Services Market Structure

Key Questions Answered in the Report

In 2020, the global cloud migration services market attained a value of nearly USD 110.4 billion.

The market is projected to grow at a CAGR of 24.6% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 413.3 billion by 2026.

The market is being aided by the rapid digital transformation in the banking, financial services, and insurance (BFSI) industry, the development of cloud storage with enhanced security, and the advent of fintech.

The industry is expected to be augmented by the initiation of various measures by governments to promote cloud computing, the rising adoption of sustainable approaches to reduce the energy wastage, and the growing demand for third-party vendors to address cloud challenges and maintain cloud infrastructure.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major service models of cloud migration services in the industry are managed services and professional services.

The leading deployment modes of cloud migration are public cloud, private cloud, and hybrid cloud.

The significant application segments of cloud migration services in the market are project management, infrastructure management, and security and compliance management, among others.

The various organisation sizes of cloud migration services are large enterprises and small and medium enterprises.

The major industry verticals of cloud migration services are banking, financial services and insurance (BFSI), manufacturing, healthcare and life sciences, IT and telecommunications, consumer goods and retail, government and public sector, and media and entertainment, among others.

The major players in the industry are Amazon Web Services, Inc., Cisco Systems, Inc., DXC Technology Co., Google LLC, and International Business Machines Corporation, among others.

Analyst Review

The global cloud migration services market attained a value of nearly USD 110.4 billion in 2020, driven by the rapid digital transformation in the banking, financial services, and insurance (BFSI) industry. Aided by the initiation of various measures by governments to promote cloud computing, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 24.6%. The market is projected to reach about USD 413.3 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its service models, the cloud migration services industry can be segmented into managed services and professional services. On the basis of deployment modes, the industry is divided into public cloud, private cloud, and hybrid cloud. By application, the market is categorised into project management, infrastructure management, and security and compliance management, among others. Based on organisation sizes, the cloud migration services industry can be bifurcated into large enterprises and small and medium enterprises. On the basis of industry verticals, the market is segmented into banking, financial services and insurance (BFSI), manufacturing, healthcare and life sciences, IT and telecommunications, consumer goods and retail, government and public sector, and media and entertainment, among others. The major regional markets for cloud migration services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Amazon Web Services, Inc., Cisco Systems, Inc., DXC Technology Co., Google LLC, and International Business Machines Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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