The Cloud Migration Market – Growth, Trends, and Forecasts (2020 – 2025), offers an in-depth evaluation of each crucial aspect of the Global Cloud Migration industry that relates to market size, share, revenue, demand, sales volume, and development in the market. The report analyzes the Cloud Migration market over the values, historical pricing structure, and volume trends that make it easy to predict growth momentum and precisely estimate forthcoming opportunities in the Cloud Migration Market. The report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
The cloud migration services market was valued at USD 119.13 billion in 2019 and is expected to reach USD 448.34 billion by 2025, at a CAGR of 28.89% over the forecast period 2020 – 2025.
Get Sample PDF Copy of Latest Research on Cloud Migration Market:
Key Market Trends:
– Banking and Financial organizations are also accelerating the migration toward cloud solutions owing to the benefits such as flexibility, agility, and integration of emerging technologies and the FinTech ecosystems. Cloud solutions are helping banks to cut down expenses by slashing infrastructure costs significantly. Owing to this, many vendors are providing IaaS and PaaS applications to eliminate the need to manage to host, maintaining, updating, and scaling service operations targeted towards the BFSI sectors. Banks are widely recognizing that a cloud infrastructure can help them pursue sweeping modernization initiatives, including operational and customer-facing programs supported by AI, blockchain, and software containers.
– Bank of America commented on how Microsoft was going to be the part of its strategy, to migrate 80% of its technology workloads to virtual platforms, furthering its push to be a digital leader in financial services. BoA announced to allocate more of its USD 3 billion annual computing infrastructure budget to the public cloud, following a rapid improvement in security technology. This is expected to impact the market’s growth significantly over the forecast period. Furthermore, HSBC noted their close partnership with Google to secure a safe route to the cloud that would ensure future seamless migrations. HSBC is aiming for the cloud-first approach to data analytics and machine learning (MI).
– In terms of adoption for cloud migration, North America is among the leading innovators and pioneers and holds the largest share in the market. The region also has a strong foothold of cloud migration vendors, which adds to its growth. Some companies include IBM Corporation, Microsoft Corporation, Amazon Web Services Inc., Cisco Systems Inc., Cognizant Technology Solutions Corporation, and Google Inc., among others.
– According to the survey by IBM in 2019, 95% of the businesses in North America have migrated their critical applications and IT infrastructure to the cloud over the past year. Additionally, over 80% of firms in the region have mentioned seeking cloud migration for some of their applications next year. The advanced industrial landscape in the North Americ region has led to the widespread incorporation of AI on numerous operational levels, leading to a growing need for cloud migration. Additionally, BYOD has a substantial impact on the enterprises, as they realize the advantages of cost-saving, productivity, and flexibility.
Influence of the Cloud Migration Market report:
–Comprehensive assessment of all opportunities and risks in the Cloud Migration Market.
–Cloud Migration Market recent innovations and major events.
–A detailed study of business strategies for the growth of the Cloud Migration Market market-leading players.
–Conclusive study about the growth plot of Cloud Migration Market for forthcoming years.
–In-depth understanding of Cloud Migration Market, market-particular drivers, constraints, and major micro markets.
–Favorable impression inside vital technological and market latest trends striking the Cloud Migration Market.
Browse Full Report TOC and Description:
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 global 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: The Global Cloud Migration 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, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 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.
Market Intelligence Data provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc., Market Intelligence Data provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
Irfan Tamboli (Head of Sales) | Market Intelligence Data
Phone: +1 (704) 266-3234