Press Release / Technology / Cloud Migration Services Market Revenue Growth Predicted by 2018-2023

Cloud Migration Services Market Revenue Growth Predicted by 2018-2023

Market Scenario
The cloud migration services is basically a movement of infrastructure, data, business processes, and applications to the cloud. The increasing demand for cloud services among IT and telecommunication industries are boosting the market growth for cloud migration services to a large extent. The factors driving the growth of cloud migration services include the increasing penetration of artificial intelligence and machine learning.

Companies such as International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Tech Mahindra (India), Dell (U.S.), HCL Technologies (India), are the leading providers of cloud migration services solution in the global market. IT-as-a-service solution is gaining popularity which is boosting the market growth to a large extent. In IT-as-a-service solution, the private and hybrid cloud is widely used among organizations.

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Industry News:
On Mar 23, 2018, Microsoft Corporation has launched cloud computing education initiative with Azure cloud services to educate Australian public service workers. With this initiative, the company has conducted a program for the government’s cloud migration services with a secure cloud strategy.
On Mar 20, 2018, VMware, Inc. has expanded their cloud services portfolio with the increasing adoption of multi-cloud services. With this expansion, the company is fulfilling the customer requirement by improving the risk management and complexity of the cloud.
On October 17, 2017, International Business Machines Corporation had launched new cloud migration and deployment services which help the organizations in shifting their data and applications to the cloud.
Segmentation Of Cloud Migration Services Market

The global cloud migration services market is segmented into services, deployment, organization size, applications, industries, and region. The services segment is further sub-segmented as managed services and professional service. Also, the professional services are sub-segmented into automation & integration, support & maintenance, disaster recovery, training & consulting, and others. The deployment is sub-segmented into public, private, hybrid. According to the organization size, the market is sub-segmented into SMEs and large enterprises. The applications segment is sub-segmented into infrastructure management, security and compliance management, workforce management, project management and others. The industries segment is sub-segmented into government, IT & telecommunication, manufacturing, and others. The market is spanned across regions including North America, Europe, Asia Pacific, and Rest of the World.

The global Cloud Migration Services Market is estimated to reach USD ~ 8 billion by the end of the forecast period of 2023, at a CAGR of ~22%.

Key Players
Some of the prominent players in the global cloud migration services market Microsoft Corporation (U.S.), Tech Mahindra (India), Dell (U.S.), IBM Corporation (U.S.), HCL Technologies (India), Accenture PLC (Republic of Ireland), Wipro Ltd. (India), NTT DATA, Inc. (Japan), Vmware, Inc. (U.S.), Amazon Web Services Inc. (U.S.), and among others.

Regional Analysis
The regional analysis of cloud migration services market is studied for regions such as Asia Pacific, North America, Europe, and Rest of the World. North America is dominating region as it has a huge demand for cloud services due to the increasing adoption of artificial intelligence, which is boosting the market growth to a large extent. In Europe, the market growth for cloud migration services is growing with a huge growth due to technological upgrades in cloud computing which is propelling the market growth. Whereas, Asia Pacific is the emerging markets for cloud migration services, in countries, including China, Japan, and India, and it is expected to gain momentum with the increasing penetration of IT services and grow with the highest CAGR in the coming years.

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Intended Audience
• Cloud migration services companies
• Cloud migration services providers
• Computer graphics developers
• System integrators and third-party vendors
• Government bodies
• Technology investors
• Research institutes and organizations
• Market research and consulting firms
• End-users/enterprise-users

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