Introduction:
The Global cloud migration services market size was valued at USD 9.80 billion in 2023 and is projected to grow from USD 12.24 billion in 2024 to USD 61.52 billion by 2031, exhibiting a CAGR of 25.95% during the forecast period.
Global Cloud Migration Services Market is experiencing significant growth, driven by advancements in cloud technologies, the increasing need for business agility, and the rising adoption of digital transformation strategies across various industries. As organizations seek to modernize their IT infrastructure and enhance operational efficiency, cloud migration services have become essential components of their strategic initiatives.
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Key Companies in Cloud Migration Services Market:
- Amazon Web Services, Inc.
- Microsoft
- Google LLC
- IBM
- Deloitte.com
- Wipro
- Accenture
- Infosys Limited
- Oracle
- DXC Technology Company
- Capgemini
- SAP SE
- Broadcom
- NTT DATA, Inc.
- Cisco Systems, Inc.
Latest Developments:
In February 2024, Data Intensity expanded its migration capabilities by partnering with Matilda Cloud to leverage automation and AI for more efficient, cost-effective, and simplified enterprise cloud transitions.
In June 2023, NTT DATA Group Corporation was recognized by NelsonHall as a Leader in SAP Cloud Migration Services, highlighting the company's strong SAP investments, extensive migration expertise, and global delivery capabilities.
Market Segmentation
The cloud migration services market can be segmented based on service type, deployment model, organization size, industry vertical, and region.
By Service Type:
Consulting Services: Providing expert guidance and strategic planning for cloud migration.
Implementation Services: Assisting with the actual migration of applications, data, and workloads to the cloud.
Support and Maintenance Services: Offering ongoing support and maintenance post-migration to ensure optimal performance.
By Deployment Model:
Public Cloud: Services delivered over the public internet, offering scalability and cost-effectiveness.
Private Cloud: Dedicated cloud infrastructure for a single organization, providing enhanced security and control.
Hybrid Cloud: A combination of public and private clouds, allowing data and applications to be shared between them.
By Organization Size:
Small and Medium Enterprises (SMEs): Adopting cloud migration services to enhance operational efficiency and reduce costs.
Large Enterprises: Leveraging cloud migration services to modernize IT infrastructure and support global operations.
By Industry Vertical:
Banking, Financial Services, and Insurance (BFSI): Utilizing cloud migration services to enhance data security, compliance, and customer experience.
Healthcare: Migrating to the cloud to improve patient care, data management, and regulatory compliance.
Retail: Adopting cloud solutions to enhance customer engagement, inventory management, and supply chain operations.
Manufacturing: Implementing cloud migration services to optimize production processes, reduce downtime, and improve supply chain visibility.
Related Reports and Latest Industry Development News:
