Navigating the Future: Cloud Engineering Services Market 2024 Analysis with Top Business Strategy and Key Players Decided to Invest |Ascendion, Aspire Systems, CrossAssyst, Deloitte

The Cloud Engineering Services Market is estimated for 2024 for the forecast period 2024-2031, as highlighted in a new report published by Worldwide Market Reports.

Market Overview:

Cloud engineering services help organizations migrate their legacy applications and infrastructure to public, private, and hybrid cloud platforms. They provide consultation, assessment, design, migration, and management of cloud-based solutions.

Market Dynamics:

The cloud engineering services market is expected to witness significant growth over the forecast period owing to growing adoption of cloud-based solutions across enterprises. Cloud engineering supports organizations with agile development methods, flexible hosting, and operational support. Additionally, cloud solutions allow cost optimization by offering variable pricing and pay-as-you-go models. The market is also driven by growing need to enhance scalability of businesses and enable remote working amid COVID-19 pandemic. However, security and privacy concerns associated with cloud platforms may hinder the market growth.

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Growing adoption of cloud engineering services by SMEs:

Small and medium enterprises are increasingly leveraging the benefits of cloud engineering services. Cloud services enable SMEs to access cutting edge technologies which otherwise would have been unaffordable for them due to budget constraints. Using cloud engineering services, SMEs can focus on their core business functions rather than spending resources on setting up and maintaining their own IT infrastructure. The pay-as-you-go model of cloud services further reduces upfront capital expenditure for SMEs. As more SMEs move to cloud, it is generating significant demand for cloud engineering services from consulting and managed services providers.

Increasing demand for DevOps practices and automation:

Organizations are under constant pressure to release new features faster and iterate quickly based on customer feedback. This has increased the need for agile development methodologies and DevOps practices. Cloud engineering service providers help clients integrate DevOps practices and implement infrastructure as code and continuous integration/delivery pipelines. Automation of testing, deployment and operations improves code quality and speed of development. It also reduces human errors and effort required for routine tasks. As software development processes move towards a more automated model, it is generating demand for cloud engineering consulting especially around DevOps transformations.

Leading Players:

Ascendion
Aspire Systems
CrossAssyst
Deloitte
Devico
Experion Technologies
HCLTech
Indium Software
Lemberg Solutions
Mimacom
Ollion
TechAhead
TransformHub
SkillNet Solutions
L&T Technology Services

Market Segments by Type:

Cloud Computing Services
Cloud Migration Services
Cloud Storage Service
Cloud Security Services
Others

Market Segments by Application:

Public Cloud
Private Cloud
Hybrid Cloud

Threat of cyber attacks:

While cloud technologies improve security capabilities offered to clients, threats from cyber criminals are also constantly evolving. Cloud misconfigurations can expose organizations to unauthorized access and data breaches. Lack of IT security expertise is a challenge for many clients especially SMEs. They rely on cloud engineering service providers to audit their cloud environments, recommend security best practices and hold hands for security operations. However, reliance on third parties for security also introduces certain risks if proper oversight is not maintained. Even big tech companies offering cloud services have faced security lapses and data breaches impacting their clients. This undermines confidence in cloud offerings and acts as a restrain for broader adoption of cloud computing models.

Opportunity in cloud-native application development:

More organizations are modernizing their application portfolios and developing new cloud-native applications that can fully harness the elasticity and agility benefits of cloud infrastructure. This provides a big opportunity for cloud engineering service providers. They can work with clients right from the architecture and design phase to implement microservices-based, containerized and serverless cloud-native applications. Transitioning to cloud-native applications not only improves developer productivity but also lowers long-term infrastructure costs for organizations. Service providers are investing in cloud-native dev skills and frameworks like Kubernetes, Istio and Spring Boot to drive next wave of application modernization programs for their clients.

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