Global Cloud Migration Services Market is expected to reach US$ 31.16 Bn by 2026 from US$ 2.64 Bn in 2016 at a CAGR of 28%.
Global cloud migration services market is segmented by service type, deployment model, application, vertical and geography. In terms of service type, the cloud migration services market is classified into automation & integration, disaster recovery, application hosting & monitoring, development and operations, training & consulting o support & maintenance, and managed services. Based on application, the cloud migration services market is categorized into project management, infrastructure management, security and compliance management, and others. Based on organization size, the cloud migration services market is segmented into large enterprises and small and medium-sized enterprises. On the basis of deployment type, the cloud migration services market is classified into the public cloud, private cloud, and hybrid cloud. Based on vertical, the cloud migration services market is categorized into BFSI, healthcare and life sciences, telecommunications and ITES, government and public sector, manufacturing, consumer goods and retail, media and entertainment, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The major factors donating in the development of the market are growing penetration of cloud computing & technological advancements. Furthermore, the demand for cloud computing is anticipated to be driven by some other factors, like lower security, flexibility & lower costs. Increasing awareness about business continuity, rising penetration of cloud computing & technological advancements, adopting improved security, flexibility, and reducing operational costs are some of the key factors fostering market growth. However, factors such as fear of vendor lock-in and lack of stringent SLAs are inhibiting the market.
Based on vertical, BFSI vertical is estimated to hold the largest market size in 2017. BFSI organizations lead the industry vertical segment of the market in migrating their workloads to the cloud environment. The need to consolidate the cost of IT and infrastructure is driving BFSI organizations to migrate their workloads in the cloud. Migrating workload to the cloud provides BFSI organizations with agility and flexibility to deploy IT infrastructure and legacy systems in a cost-effective way.
On the basis of service type, automation and integration service type is expected to hold the largest market size during the forecast period. Automation enables enterprises to streamline their cloud migration activities efficiently. Automation helps in reducing costs, manual intervention, time, and risk of failure. It supports improved business agility and migration of the entire workload for rapid recovery during downtime. Cloud integration services help in solving complex problems and guarantee cost-efficient business processes to produce the flexible environment that can fulfill performance, security, and availability. It helps in supporting third-party and on-premises applications and services.
In terms of region, North America is expected to hold the largest market share in 2017, while the Asia Pacific is estimated to be the fastest growing region during the forecast period. North America is a matured market in terms of cloud adoption, due to various factors, such as standards, regulations, advanced IT infrastructure, the presence of a large number of enterprises, and the availability of proficient technical expertise.
Some of the key players in the cloud migration services market are 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.
The Scope of the Global Cloud Migration Services Market :
Global Cloud Migration Services Market, by Service Type
- Automation & Integration
- Disaster Recovery
- Application Hosting & Monitoring
- development and operations
- Training & Consulting
- Support & Maintenance
- Managed Services
Global Cloud Migration Services Market, by Application
- Project Management
- Infrastructure Management
- Security and Compliance Management
- Others
Global Cloud Migration Services Market, by Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
Global Cloud Migration Services Market, by Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
Global Cloud Migration Services Market, by Vertical
- BFSI
- Healthcare and Life Sciences
- Telecommunications and ITES
- Government and Public Sector
- Manufacturing
- Consumer Goods and Retail
- Media and Entertainment
- Others
Global Cloud Migration Services Market, by Region
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Key Players operating in the Global Cloud Migration Services Market
- 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
- Evolve IP
