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Global Cloud Migration Services Market Is Expected To Grow At CAGR Of 24.6% In The Forecast Period Of 2022-2027

09-15-2022 09:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Expert Market Research

Global Cloud Migration Services Market Is Expected To Grow

The new report by Expert Market Research titled, 'Global Cloud Migration Services Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027', gives an in-depth analysis of the global cloud migration services market, assessing the market based on its segments like service, deployment mode, application, organization size, industry vertical and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.

Get a Free Sample Report with Table of Contents - https://www.expertmarketresearch.com/reports/cloud-migration-services-market/requestsample

The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 24.6 %

Cloud migration services are growing in popularity as the banking, financial services, and insurance (BFSI) industry undergoes rapid digital change. As the financial sector's demand for transparency and remote access grows, big corporations are turning to cloud migration services to modernise their business models and customer experiences, moving the industry forward.

Furthermore, the cost-effectiveness of cloud migration is raising the demand for more innovation and collaboration in the sector, which is boosting industrial growth even more.

The development of modern cloud storage with better security and optimal architecture is spurring the adoption of cloud migration services, propelling the industry forward. Furthermore, the emergence of fintech, which heavily relies on technology, is driving up demand for cloud migration services, boosting market growth.

This trend was intensified by the COVID-19 crisis, which resulted in an increase in cloud services as a result of extended lockdowns, stay-at-home orders, and the growing digitisation of numerous financial institutions. This is predicted to increase further as the adoption of digital tools and online banking grows, boosting the cloud migration services industry's growth over the projection period.

Industry Segments

Cloud migration services are the services that businesses use to digitally modernise their operations. They offer tools and resources to help with the transfer of databases to cloud computing. They improve cost-effectiveness, flexibility, and productivity in the long run for a variety of organisations, which is why they are becoming more widely employed.

Read Full Report with Table of Contents - https://www.expertmarketresearch.com/reports/cloud-migration-services-market

Based on services, the market covers:

• Managed Services
• Professional Services

Based on deployment mode, the market is segmented into:

• Public Cloud
• Private Cloud
• Hybrid Cloud

Based on application segments, the market is divided into:

• Project Management
• Infrastructure Management
• Security and Compliance Management
• Others

Based on organisation size, the market is classified into:

• Large Enterprises
• Small and Medium Enterprises

Based on industry verticals, the market is burificated into:

• Banking, Financial Services and Insurance (BFSI)
• Manufacturing
• Healthcare and Life Sciences
• IT and Telecommunications
• Consumer Goods and Retail
• Government and Public Sector
• Media and Entertainment
• Others

The major regional markets include:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Trends

The market is being boosted by the introduction of numerous government efforts to promote cloud computing in order to improve database transparency and accessibility. The growing demand for Cloud First policies, which are being implemented by many governments, such as the Indian Ministry of Electronics and Information Technology, to build new capabilities for effective transition, is fueling the expansion of the cloud migration services business.

Furthermore, government and public organisations are increasingly opting for multi-cloud offers to avoid the risk of data loss due to cloud technical problems, driving up demand for cloud migration services.

The growing use of sustainable ways in various businesses is driving up demand for cloud storage, as it minimises energy waste and carbon footprint, resulting in a surge in cloud migration services usage. Various firms are progressively adopting cloud computing as remote work becomes the new norm. As a result, the demand for cloud migration services is expanding, propelling the market forward.

The widespread adoption of cloud computing by businesses is likely to raise the demand for third-party vendors to address cloud-related issues and manage cloud infrastructure. This is expected to increase the need for cloud migration services, boosting the industry's growth.

Key Market Players

The major players in the market are Amazon Web Services Inc, Cisco Systems Inc, DXC Technology Co, Google LLC, International Business Machines Corporation, among others.

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Media Contact

Company Name: Claight Corporation
Contact Person: Ana John, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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