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CHICAGO, Feb. 15, 2024 /PRNewswire/ -- Trends including edge computing migration, AI-driven solutions,containerisation, and the use of hybrid and multi-cloud infrastructure will shape the cloud migration services market in the future. The evolution of services is driven by issues like regulatory compliance and the complexity of data migration; cost optimisation, DevOps integration, and ecosystem collaboration are key components of effective, safe, and compliant cloud migrations.

The Cloud Migration Services Market is projected to grow from USD 10.2 billion in 2023 to USD 29.2 billion by 2028, at a compound annual growth rate (CAGR) of 23.3% during the forecast period, according to a new report by MarketsandMarkets. The Cloud Migration Services Market is expected to grow significantly during the forecast period, owing to numerous business drivers such as rising demand for better agility and automation, and seamless integration and compatibility of enterprises with the evolving landscape of cloud technology.

Browse in-depth TOC on "Cloud Migration Services Market"

219 - Tables 52 - Figures 287 - Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

20182028

Base year considered

2022

Forecast period

20232028

Forecast units

USD (Billion)

Segments Covered

Service Type, Deployment Mode, Migration TypeApplication, Vertical, and Region

Geographies covered

North America, Asia Pacific, Europe, Middle East & Africa, and Latin America

Companies covered

IBM (US), AWS (US), Google (US), Microsoft (US), Oracle (US), SAP (Germany), VMWare (US), Cisco (US), NTT Data (Japan), Accenture (Ireland), Infosys (India), DXC (US), HPE (US), Veritis (US), RiverMeadow (US), Rackspace (US), Informatica (US), WSM (US), and so on.

By service type, assessment & planning services segment to register for the largest market size during the forecast period.

By service type, assessment & planning services segment is expected to register the largest market size during the forecast period. These services align the cloud migration strategy with the business objectives of the organization. By understanding the specific goals and requirements, assessment services ensure that the migration plan is tailored to meet the unique needs of the business. Assessment and Planning Services form the foundational phase of cloud migration, providing organizations with a comprehensive understanding of their current state, aligning migration strategies with business objectives, identifying and mitigating risks, and developing a detailed roadmap for a successful transition to the cloud.

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By deployment mode, hybrid cloudto register for the highest CAGR during the forecast period.

The hybrid cloud segment of the Cloud Migration Services Market is growing rapidly. Hybrid Cloud deployment, supported by cloud migration services, provides organizations with a balanced and adaptable approach to cloud adoption. It offers the advantages of cloud scalability and innovation while allowing organizations to retain control over certain workloads and maintain compliance with specific requirements. Cloud migration services are instrumental in designing, implementing, and optimizing Hybrid Cloud solutions tailored to the unique needs of each organization.

By region, Asia Pacific accounted for highest growth rate during the forecast period.

Asia Pacific is witnessing significant growth in Cloud Migration Services Market. Companies in the region are recognizing the cost benefits associated with cloud migration. Cloud services offer a pay-as-you-go model, eliminating the need for significant upfront investments in hardware and infrastructure. Several governments across the Asia Pacific region have been promoting cloud adoption through various initiatives and policies. These efforts aim to foster innovation, improve public services, and drive economic growth.

Top Key Companies in Cloud Migration Services Market:

Some major players in the Cloud Migration Services Market include IBM (US), AWS (US), Google (US), Microsoft (US), Oracle (US), SAP (Germany), VMWare (US), Cisco (US), NTT Data (Japan), Accenture (Ireland), Infosys (India), DXC (US), HPE (US), Veritis (US), RiverMeadow (US), Rackspace (US), Informatica (US), WSM (US), and so on.

Recent Developments:

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Cloud Migration Services Market Advantages:

Report Objectives

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Cloud Migration Services Market worth $29.2 billion by 2028 - Exclusive Report by MarketsandMarkets USA ... - PR Newswire