Cloud Migration Services Market Growing at 23.9% CAGR to 2021
PUNE, India, September 30, 2016
Global cloud migration services market size is estimated to grow from $2.42 billion in 2016 to $7.06 billion by 2021, at a CAGR of 23.9% driven by factors such as increased migration of workloads to cloud environment by Small and Medium Enterprises (SMEs) and the inclination of enterprises to ward improved security & increased business agility. Fear of vendor lock-in, risk of data loss, and cloud interoperability are some of the major restraints and challenges in the market.
Migrating workloads in real-time, integration of existing infrastructure into cloud system, cloud assessment, faster deployments, and automated disaster recovery are some of the upcoming trends in the cloud migration services market. Cloud migration services have enabled efficient business operations and improved security along with collaborative working across different geographical locations. The report covers detailed information regarding the major factors influencing the growth in the cloud migration services market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the cloud migration services market.
Professional services segment includes training & consulting and support & maintenance. Migration consulting service providers identify the workloads that are fit for migration on cloud environment, thus, saving on resources and costs before migrating the entire workload. Training services aim at providing various education programs to mitigate the knowledge gaps. The support, training, and maintenance services segment provides customer-support abilities to the industry verticals in case of security threats and privacy breaches. Companies actively provide online training resources such as user guides, blog articles, white papers, video instructions, and forums to their clients. North America is expected to hold the largest market share in 2016, while APAC is the fastest-growing region in terms of CAGR. Factors such as improved IT infrastructure, growing internet penetration, and increasing number of connected devices are supporting the growth of the cloud migration services market in APAC.
The various key cloud migration services market vendors and service providers profiled in the report include Amazon Web Services (Seattle, Washington, U.S.), IBM Corporation (Armonk, New York, U.S.), Microsoft Corporation (Redmond, Washington, U.S.), Google, Inc. (Mountain View, California, U.S.), Cisco Systems (San Jose, California, U.S.), WSM (St. Clair Shores, Michigan, U.S.), Computer Sciences Corporation (Falls Church, Virginia, U.S.), Rackspace, Inc. (Windcrest, Texas, U.S.), RightScale, Inc. (Santa Barbara, California, U.S.), Verizon Enterprise Solutions (New York, U.S.), NTT Data Corporation (Koto-Ku, Tokyo, Japan) and VMware Inc. (Palo Alto, California, U.S.).