The Global Cloud Migration Services Market Evaluated to Reach $601.65 Billion in Revenue by 2028

A recent study by Triton Market Research titled 'Global Cloud Migration Services Market' comprises the Global Analysis and Forecasts by Delivery Mode (Private, Hybrid, Public), End-user (Healthcare & Life Sciences, Banking, Financial Services and Insurance (BFSI), Consumer Goods & Retail, IT & Telecommunication, Government & Public Sector, Manufacturing, Other End-users), Type of Service (Infrastructure as a Service, Software as a Service, Platform as a Service), Enterprise Size (Small & Medium Enterprises, Large Enterprises), and by Geography (North America, Middle East and Africa, Europe, Latin America, Asia-Pacific).

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According to Triton Market Research's report, the global cloud migration services market is anticipated to progress at a CAGR of 25.6% over the estimated phase of 2021-2028. It is likely to gather revenue worth $601.65 billion by 2028.

Cloud migration assists in transferring digital data of companies on private, public, or hybrid cloud services. This makes the data inaccessible outside the cloud's firewall.

In recent years, cloud-based services have helped companies to work remotely without facing significant issues. Besides this, these services have supported employees to access any cloud environment through a single web interface. This is mainly owing to the mix of software, platform, and infrastructure as a service. Furthermore, cloud computing has gained immense traction across various industries, making operations easier and cost-effective. Thus, the increase in remote working, coupled with decreased operational costs, is augmenting the development of the cloud migration services market.

However, factors such as issues relating to vendor lock-in, security and compliance adjustments, and a dearth of professionals, obstruct the expansion of the cloud migration services market.

The cloud migration services market is divided into delivery mode, end-user, type of service, and enterprise. The delivery mode is segmented into private, hybrid, and public. Further, the end-user segment is branched into healthcare & life sciences, banking, financial services and insurance (BFSI), consumer goods & retail, IT & telecommunication, government & public sector, manufacturing, and other end-users. In terms of type of service, it is categorized into infrastructure as a service, software as a service, and platform as a service. Lastly, the enterprise segment is divided into small & medium enterprises and large enterprises.

Globally, North America dominates the cloud migration services market and will continue its hold until 2028. Over the years, cloud migration has surged across the region due to tremendous advancements in the IT infrastructure, favorable regulations, and standards. Moreover, the availability of technical expertise, coupled with the presence of distinguished companies, is encouraging the adoption of cloud migration services. Thus, such developments are widening the scope and growth of the cloud migration services market.

Amazon Web Services Inc, Microsoft Corporation, WSM International, VMware Inc, Rackspace Technology Inc, Rivermeadow Software Inc, Zerto, Google, NTT Data Corporation, Informatica, IBM Corporation, Cisco Systems, DXC Technology, and Tech Mahindra Ltd are major companies in the cloud migration services market.

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Question & Answer: Cloud Migration Services Market

Question 1: What factors are augmenting the development of the cloud migration services market?
Answer: In recent years, cloud-based services have helped companies to work remotely without facing significant issues. Besides this, these services have supported employees to access any cloud environment through a single web interface. This is mainly owing to the mix of software, platform, and infrastructure as a service. Furthermore, cloud computing has gained immense traction across various industries, making operations easier and cost-effective. Thus, the increase in remote working, coupled with decreased operational costs, is augmenting the development of the cloud migration services market.

Question 2: What factors obstruct the expansion of the cloud migration services market?
Answer: Factors such as issues relating to vendor lock-in, security and compliance adjustments, and a dearth of professionals, obstruct the expansion of the cloud migration services market.

Question 3: Which region dominates the cloud migration services market?
Answer: Globally, North America dominates the cloud migration services market and will continue its hold until 2028. Over the years, cloud migration has surged across the region due to tremendous advancements in the IT infrastructure, favorable regulations, and standards. Moreover, the availability of technical expertise, coupled with the presence of distinguished companies, is encouraging the adoption of cloud migration services. Thus, such developments are widening the scope and growth of the cloud migration services market.

Question 4: Which are the major companies in the cloud migration services market?
Answer: Amazon Web Services Inc, Microsoft Corporation, WSM International, VMware Inc, Rackspace Technology Inc, Rivermeadow Software Inc, Zerto, Google, NTT Data Corporation, Informatica, IBM Corporation, Cisco Systems, DXC Technology, and Tech Mahindra Ltd are major companies in the cloud migration services market.

Related Report:
Global Cloud Collaboration Market - https://www.tritonmarketresearch.com/reports/cloud-collaboration-market

The global cloud collaboration market is evaluated to display growth in its revenue during 2019-2028 at a CAGR of 14.75%. It is assessed to acquire revenue worth $27543.07 million by 2028.

Cloud collaboration is an enterprise collaboration service that assists in achieving high productivity, enabling access to data in real-time.

In recent years, the increase in client meetings has encouraged major companies to offer hardware and SaaS to consumers, leading to an efficient end-to-end user experience.

Additionally, the changing working trends, rising BYOD trends, and growing need for workforce productivity are driving the growth of the cloud collaboration market.

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