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Cloud Migration Services Market to Reach $515.83 Bn, Globally, by 2027 at 24.8% CAGR: Allied Market Research

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Allied Market Research

06 Oct, 2020, 13:00 GMT

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Rise in need for business agility & automation and surge in demand for cloud migration in business continuity drive the growth of the global cloud migration services market.

PORTLAND, Ore., Oct. 6, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Cloud Migration Services Market by Service Type (Managed Services and Professional  Services), Application (Project Management, Infrastructure Management, Security & Compliance Management, and Others), Organization Size (Large Enterprises and Small & Medium Enterprises), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), and Industry Vertical (BFSI, Manufacturing, Healthcare & Life Sciences, IT & Telecommunications, Consumer Goods & Retail, Government & Public Sector, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global cloud migration services market generated $88.46 billion in 2019, and is estimated to reach $515.83 billion by 2027, witnessing a CAGR of 24.8% from 2020 to 2027.

Drivers, restraints, and opportunities

Rise in need for business agility & automation, ease in deployment of applications with pay-as-you-go model, and surge in demand for cloud migration in business continuity drive the growth of the global cloud migration services market. However, vendor lock-in and enterprise application's cloud compatibility & cloud interoperability restrain the market growth. On the other hand, surge in cloud expenditure and requirement for lower CAPEX and OPEX create new opportunities in the coming years.

Download Report Sample (150 Pages PDF with Insights) @

https://www.alliedmarketresearch.com/request-sample/5814

Covid-19 Scenario

  • The Covid-19 pandemic presented an urgent need to adopt agile business continuity plan amid lockdown, and cloud adoption has become "a new normal" for enterprises for seamless execution of "work from home" strategy.
  • Realizing the benefits including reduced cost, improved efficiency, and convenience, organizations from healthcare and IT & telecommunications sectors have adopted a tactical approach rather than a strategic one.
  • For organizations that migrated to the cloud amid the lockdown imposed to curb the spread of coronavirus, disruptions in the hardware supply chain presented challenges in new installation and maintenance activities.

Get detailed COVID-19 impact analysis on the cloud migration services market: https://www.alliedmarketresearch.com/request-for-customization/5814

The managed services segment to maintain its lead position during the forecast period

Based on service type, the managed services segment held nearly three-fifths of the total share of the global cloud migration services market in 2019, and is estimated to maintain its lead position in terms of revenue during the forecast period. This is due to adoption by many industries with the presence of software multitenancy. However, the professional services segment is expected to witness the largest CAGR of 25.9% from 2020 to 2027, owing to integration of innovative software platforms that provide more efficiency and eliminate technological limitations of the existing platforms.

The infrastructure management segment to maintain its dominant share by 2027

Based on application, the infrastructure management segment accounted for the highest market share, accounting for nearly two-fifths of the total share of the global cloud migration services market in 2019, and is projected to maintain its dominant share during the forecast period. This is attributed to increase in digitization initiatives in developing countries. However, the security & compliance management segment is expected to maintain the highest CAGR of 29.3% from 2020 to 2027. This is due to its assistance to companies in adhering to the latest government regulations.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5814

Europe, followed by North America, to continue its lead in terms of revenue by 2027

Based on region, Europe, followed by North America, contributed to the largest share based on revenue, accounting for nearly two-fifths of the global cloud migration services market share in 2019, and will continue its lead throughout the forecast period. This is due to high adoption of public IaaS, private IaaS, and hybrid IaaS. However, Asia-Pacific is expected to witness the highest CAGR of 28.2% from 2020 to 2027, owing to the trend of digitalization in businesses in some of the Asian nations.

Leading Market Players

  • Amazon Web Services, Inc.
  • Cisco Systems, Inc.
  • DXC Technology
  • Google LLC
  • International Business Machines Corporation (IBM)
  • Microsoft Corporation
  • NTT DATA Corporation
  • Rackspace Hosting Inc.
  • RiverMeadow Software, Inc.
  • VMware Inc.

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at:

https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Integrated Workplace Management System Market Expected to Reach $5.78 Billion by 2027

Europe Big Data and Business Analytics Market Expected to Reach $105.82 Billion by 2027

Data Extraction Market Expected to Reach $4.90 Billion by 2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

Contact:
David Correa
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