Emphasis on Service Type (Managed and Professional); Organization Size, (Small and Medium Enterprises); End-Users (IT & Telecom, BFSI, Healthcare, Government & Public Sector, Manufacturing, and Others) Region/Country
The cloud migration market is expected to grow at a strong CAGR of around 32% during the forecast period owing to the increasing awareness among customers, the proliferation of IoT in emerging economies, and surging disposable incomes and urbanization. The cloud migration market has experienced rapid growth over the past few years, as more and more businesses seek to move their operations to the cloud for increased efficiency, cost savings, and scalability. This trend is expected to continue as cloud technology becomes more advanced and the benefits of cloud migration become more widely recognized and will result in the growth of the cloud migration market. Further, the cloud migration market is highly competitive, with a wide range of vendors offering various services and solutions to help businesses transition to the cloud. Key players in the market include Amazon Web Services, Microsoft Azure, Google Cloud Platform, IBM Cloud, and Oracle Cloud, among others. Moreover, the growing number of tech startups are also expected to drive the market during the forecast period. For instance, according to Business Standards almost 1400 unique startups received funding in 2022 in India. A growth of 18% from last year
Some of the major players operating in the market include Amazon Web Services, Inc.; Cisco Systems, Inc; DXC Technology Company; Google LLC; IBM; Microsoft; NTT DATA Corporation; RACKSPACE TECHNOLOGY; VMware, Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst service type, the managed services segment held a dominating share of the market in 2021”
On the basis of service type, the market is segmented into managed and professional services. The managed services segment is expected to garner the largest market share in 2021 and is also expected to maintain the similar growth trend during the forecast period. The growth of the segment is attributed to the growing need for expertise for cloud deployment. Furthermore, the growing trend of cloud deployment across industries is expected to significantly influence the market growth during the forecast period.
“Amongst organization size, the small and medium enterprises to grow with the highest CAGR”
Based on organization size, the market is segmented into small and medium enterprises and large enterprises. The small enterprises segment is expected to growth with the highest CAGR during the forecast period. One of the primary reasons small organizations choose to migrate to the cloud is to reduce their IT infrastructure costs. By moving to the cloud, organizations can avoid the upfront capital costs of purchasing and maintaining hardware and software, as well as the ongoing operational expenses such as electricity, cooling, and maintenance.
“North America dominated the cloud migration market in 2021.”
The primary drivers of cloud migration in North America are cost reduction, scalability, agility, and digital transformation. Cloud computing provides organizations with the ability to scale resources up or down based on demand, which allows for more efficient use of resources and cost savings. Additionally, the agility provided by cloud computing allows organizations to quickly respond to market changes and rapidly develop and deploy new applications and services. Finally, cloud migration supports digital transformation initiatives by providing the infrastructure and tools necessary to support modern digital experiences, such as mobile and web applications, IoT devices, and AI and machine learning.
Cloud Migration Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Cloud Migration Market Covid-19 Impact
6. Global Cloud Migration Market Revenue, 2020-2028f
7. Market Insights By Service Type
8. Market Insights By Organization Size
9. Market Insights By End-users
10. Market Insights By Region
11. Cloud Migration Market Dynamics
12. Cloud Migration Market Opportunities
13. Cloud Migration Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Pricing Analysis
17. Strategic Insights
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
Research Methodology for the Cloud migration Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global cloud migration market were the three major steps undertaken to create and analyze the adoption of cloud migration in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cloud migration market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the cloud migration market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the cloud migration market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as service type, organization size, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cloud migration market. Further, we conducted factor analysis using dependent and independent variables such as service type, organization size, and end-users of the cloud migration market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the cloud migration market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global cloud migration market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global cloud migration market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the service type, organization size, and end-users in the global cloud migration market.
The main objective of the Global Cloud migration Market Study
The current & future market trends of the global cloud migration market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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