The Global Cloud Migration Services Market to Increase at CAGR of 25.69% by 2028

Triton Market Research presents the Global Cloud Migration Services Market segmented by Delivery Mode (Private, Public, Hybrid), End-user (IT & Telecommunication, Banking, Financial Services and Insurance (BFSI), Consumer Goods & Retail, Manufacturing, Healthcare & Life Sciences, Government & Public Sector, 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 (Middle East and Africa, North America, Latin America, Asia-Pacific, Europe). The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Matrix, Vendor Scorecard, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

According to Triton Market Research's report, the global cloud migration services market is anticipated to grow at a CAGR of 25.69% over the forecast period 2021-2028.

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Cloud migration is a process of transferring digital assets, services, or resources to the cloud, making them inaccessible outside of the cloud's firewall.

Cloud adoption in healthcare has grown significantly since cloud compilation with HIPAA regulations. Moreover, cloud services help in remote patient care, playing a significant role during the COVID-19 outbreak. Further, the sudden rise in remote working during the pandemic increased the use of personal devices, stimulating the need for cloud services. Therefore, the cloud application in healthcare and the increase in BYOD trends are likely to create new opportunities for the cloud migration services market. However, lack of skilled workforce and security issues are negatively impacting the global market's growth.

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Globally, the Asia-Pacific is likely to become the fastest-growing region in the cloud migration services market. This growth can be attributed to the shift to public cloud services by banks, professional service firms, and airlines, among others. Besides, several governments have increased their investments, focusing majorly on transforming the IT infrastructure. Moreover, they are incorporating the cloud-first approach, influencing the adoption of cloud migration services. Thus, such developments are fueling the cloud migration services market's growth in the region.

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

Several prominent companies, such as AWS and Microsoft, are dominating the cloud migration services market. They invest heavily in the R&D of cloud migrations services to expand their product portfolio to meet consumers' demand globally.

This indicates that the threat of new market players is likely to be lower. Furthermore, companies are introducing new cloud services. For instance, Informatica launched its intelligent data management cloud, the first end-to-end AI-powered data management platform. Hence, these factors suggest the competition among existing players to be high over the forecast period.

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