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Cloud Migration Services Market on Track for Strong Growth, Estimated to Grow at 23.6% CAGR Through 2029
Cloud Migration Services Market
What Is the Expected CAGR for the Cloud Migration Services Market Through 2025?
There has been a brisk growth in the size of the cloud migration services market in the past few years. The market is set to expand from $229.09 billion in 2024 to $268.02 billion in 2025, growing at a compound annual growth rate (CAGR) of 17.0%. Factors responsible for this uptick in the historical period include cost reductions and operational improvements, demands for scalability and flexibility, the need to modernize legacy systems, security worries and compliance issues, and the efforts to adopt cloud-first strategies.
What's the Projected Size of the Global Cloud Migration Services Market by 2029?
We expect to see substantial expansion in the cloud migration services market size in the coming years. The market is predicted to amplify to $625.92 billion by 2029, with a compound annual growth rate (CAGR) of 23.6%. This growth during the forecast period can be traced back to rapid digital transformation projects, a heightened concentration on hybrid and multi-cloud arrangements, the rise in edge computing, collaboration with DeVops and agile development, and a focus on data migration and supervision. Prominent trends for the forecast period encompass serverless computing and microservices structure, containerization for application transferability, zero trust security frameworks for cloud setups, AI-enabled automation in cloud migration, and a shift towards cloud-native development and configuration.
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Top Growth Drivers in the Cloud Migration Services Industry: What's Accelerating the Market?
The cloud migration services market is predicted to experience a surge due to the increasing acceptance of automation solutions. These automation solutions replace inefficient, outdated manual methods with technologies, robotics, or processes to increase effectiveness and precision. Cloud migration services equip organizations with the necessary tools, automation, and expertise to carry out a secure transition to the cloud. For example, Formstack, a software firm based in the US, reported in May 2023 that 76% of entities employ automation to streamline their daily operations, 58% utilize automated data and reporting for strategic planning, and 36% for regulatory compliance. Hence, the escalating adoption of automation solutions is fueling the expansion of the cloud migration services market.
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What Trends Will Shape the Cloud Migration Services Market Through 2029 and Beyond?
Leading businesses in the cloud migration services industry are striving to create innovative cloud programs to maintain an upper hand in the market. For instance, in May 2023, US-based software firm Google LLC introduced a novel migration program for cloud customers, named the Rapid Migration Program (RaMP). This initiative expedites the process of cloud migration by amalgamating its cloud offerings, engagement models, and top-tier practices. It simplifies the task of migrating workloads, provides uniformity via collaborations with channel providers, and assists companies in setting objectives, monitoring progress, and mitigating risks during the course of migration.
What Are the Main Segments in the Cloud Migration Services Market?
The cloud migration servicesmarket covered in this report is segmented -
1) By Service Type: Application Hosting And Monitoring, Automation And Integration, DevOps, Professional Service, Managed Service, Other Service Types
2) By Enterprise Size: Large Enterprises, Small And Medium Sized Enterprises (SMEs)
3) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
4) By Application: Project Management, Infrastructure Management, Security And Compliance Management, Other Applications
Subsegments:
1) By Application Hosting And Monitoring: Web Application Hosting, Database Hosting, Performance Monitoring Solutions
2) By Automation And Integration: Workflow Automation, API Integration Services, CI Or CD Pipeline Automation
3) By DevOps: Continuous Integration Services, Configuration Management, Containerization Services
4) By Professional Service: Cloud Strategy Consulting, Migration Planning And Assessment, Training And Support
5) By Managed Service: Cloud Infrastructure Management, Security And Compliance Management, Backup And Disaster Recovery Services
6) By Other Service Types: Hybrid Cloud Solutions, Cloud Cost Optimization, Multi-Cloud Management Services
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Which Top Companies are Driving Growth in the Cloud Migration Services Market?
Major companies operating in the cloud migration services market include Amazon Web Services Inc, Vmware Inc., Cisco Systems Inc., DXC Technology, Google LLC., Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Alibaba Group Holding Limited, Dell Technologies Inc., Hewlett Packard Enterprise Company, Nutanix Inc., Rackspace Technology Inc., accenture* plc, Wipro Limited, Tata Consultancy Services Limited, Capgemini SE, Infosys Limited, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, Atos SE, Virtustream Inc., NetApp Inc., Teradata Corporation, Red Hat Inc., Hitachi Vantara LLC, ServiceNow Inc., Turbonomic Inc., Micro Focus International plc, RiverMeadow Software Inc.
Which Regions Will Dominate the Cloud Migration Services Market Through 2029?
North America was the largest region in the cloud migration services market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud migration services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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