Cloud Migration Services Market Overview
The Cloud Migration Services Market is projected to grow from USD 17.33 billion in 2024 to USD 50.56 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.31% during the forecast period (2024 - 2032). Additionally, the market size for Enterprise Portal was valued at USD 14.72 billion in 2023.
Rise in global cloud expenditures and growing use of BYOD are the key market drivers enhancing the market growth.
Figure 1: Cloud Migration Services Market Size, 2023 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cloud Migration Services Market Trends
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Rise in global cloud expenditures is driving the market growth
Market CAGR for cloud migration services is being driven by the rise in global cloud expenditures. As more and more businesses are adopting cloud computing solutions to run their operations, they need to migrate their existing on-premises IT infrastructure and applications to the cloud. This process of cloud migration requires specialized skills and expertise, which many businesses may not possess in-house. This is where cloud migration service providers come in. These companies offer a range of services, including planning, assessment, design, and implementation of cloud migration projects. They help businesses migrate their data, applications, and infrastructure to the cloud securely and efficiently. The rising global cloud expenditures are contributing to this growth by creating a large market for cloud migration services. As businesses continue to invest in cloud solutions, the need for cloud migration services will only increase, leading to further growth of the market. Additionally, the complexity of cloud migration projects and the need for specialized expertise create a barrier to entry for new players, giving established cloud migration service providers a competitive advantage. For instance, in Sep. 2020, With a USD 3 billion investment, Accenture Solutions Pvt Ltd. developed Cloud First to accelerate the adoption of cloud computing. Also, in Aug. 2021, Google Cloud made a USD 1.2 billion investment in a German program. By constructing additional data centers in Berlin, the investment anticipates to increase Germany's cloud infrastructure.
However, the end-users are looking for advanced solutions that ensure the best possible utilization of resources in the era of varied and intricate computing environments. This search adds new degrees of managerial complexity, which raises the demand for automation and flexibility. Organizations can achieve the right degrees of automation and agility through the use of cloud migration services. Companies feel they must be more adaptable and nimbler than their current virtualization strategy, which may be readily accomplished by moving the current workload to the cloud. The primary driver for cloud migration is anticipated to be business agility on the cloud. Also, the cloud migration services additionally provide end users access to a variety of automation features, such as automated backup and recovery, auto-scaling, and auto-provisioning, that help them make use of the operational and economic benefits of cloud computing. Numerous advantages of using automation technologies include managing multiple cloud deployments, enabling automatic recovery in situations of emergency, and enhancing business continuity and disaster recovery. Cloud migration services provide business agility across various cloud environments, enhancing enterprise service levels.
Moreover, the market for cloud migration services offers potential to MSPs. The management of virtual machines, cloud services, storage services, migration services, and applications operating on public cloud infrastructure such AWS, Microsoft Azure, IBM Bluemix, and Google Cloud are merely a few of the numerous responsibilities that MSPs are capable of managing. For SMEs without the necessary technological know-how or resources, moving to the cloud can be an intimidating endeavor. When this happens, MSPs may help organizations in overcoming obstacles such a constrained workforce, bandwidth, and the deployment of complicated programs. Additionally, the MSPs can make suggestions for selecting the best program that is consistent with the organization's aims, which will enhance flexibility, reduce investment costs, and enhance efficiency.
Cloud Migration Services Market Segment Insights
Cloud Migration Services Service Type Insights
The Cloud Migration Services Market segmentation, based on service type includes Automation and Integration, Disaster Recovery, Application Hosting and Monitoring, DevOps, Training and Consulting, Support and Maintenance, Managed Services. The automation and integration is anticipated to hold the largest market size, owing to the largescale adoption of cloud migration services globally. Enterprises may efficiently streamline their cloud migration processes with the help of automation. Costs, manual involvement, processing time, and failure risk are all decreased with automation. It encourages increased business agility and workload transfer for fast downtime recovery.
Cloud Migration Services Application Insights
The Cloud Migration Services Market segmentation, based on Application, includes Project Management, Infrastructure Management, Security and Compliance Management, Others. The biggest rate of growth is anticipated in the security and compliance management. Protecting data from misuse, satisfying compliance requirements, gaining access to control, providing strong data encryption, and improving integration are a few of the main factors influencing widespread adoption of the security and compliance application.
Cloud Migration Services Organization Size Insights
The Cloud Migration Services Market segmentation, based on Organization Size, includes Large Enterprises, Small and Medium-sized Enterprises (SMEs). With a 65.5% revenue share, the large enterprises sector held the largest revenue share and is anticipated to hold that position throughout the forecast period. Large businesses are gaining a huge competitive advantage by shifting to cloud-based solutions. fostering industry-wide investments in cloud computing.
Figure 1: Cloud Migration Services Market, by Organization Size, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cloud Migration Services Deployment Model Insights
The Cloud Migration Services Market segmentation, based on deployment model, includes public cloud, private cloud, and hybrid cloud. The hybrid cloud deployment model is the dominating segment in the cloud migration services market owing to the many organizations are prefer the public cloud deployment as public can also access the information which are provided by the companies or organizations. On the other hand, individual consumers are prefer the private cloud deployment as the protect the data on the server. Thus, such factors are supported the growth of hybrid cloud deployment model in 2022 and also expected to continue its dominance during the forecast period.
Cloud Migration Services Vertical Insights
The Cloud Migration Services Market segmentation, based on vertical, includes BFSI, healthcare and life sciences, telecommunications and ITES, government and public sector, manufacturing, consumer goods and retail media and entertainment, and others (travel & hospitality and education). The BFSI segment is the dominating sub segment which are dominating in 2022 due to the high demand of cloud migration services as it offers the smooth data transfer without any lagging or server issue. Also, it fast the process of the operations which improve the companies efficiency and effectiveness. Therefore, the factors supported the growth of BFSI segment.
Cloud Migration Services Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American cloud migration services market dominated the global market, due to a number of reasons, such as the availability and existence of technology resources and innovative IT infrastructure facilities. SADA Inc. announced client expansion, talent recruiting, and leadership expansion in the Canadian market in June 2022. This acceleration and ongoing worldwide growth are in response to the demand for SADA's services and Google Cloud capabilities in Canada and show SADA's commitment to integrating Google Cloud to serve its customers globally.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CLOUD MIGRATION SERVICES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe cloud migration services market accounts for the second-largest market share due to the rising adoption of cloud computing in various sectors and cohesive government initiative for the development of cloud migration services. Further, the German cloud migration services market held the largest market share, and the UK cloud migration services market was the fastest growing market in the European region
The Asia-Pacific Cloud Migration Services Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due an increase in investments made by companies looking to migrate to the cloud, including Megazone Cloud Corp., Aokumo Inc., Macquarie Telecom Group, and Alibaba Cloud. For instance, Alibaba.com said in September 2022 that it will invest USD 1 billion over the following three fiscal years to support its cloud computing clients. In an effort to expand its customer base outside of China, the company has constructed new data centers in Singapore and Thailand. Moreover, China’s cloud migration services market held the largest market share, and the Indian cloud migration services market was the fastest growing market in the Asia-Pacific region.
Cloud Migration Services Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the cloud migration services market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, cloud migration services industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global cloud migration services industry to benefit clients and increase the market sector. In recent years, the cloud migration services industry has offered some of the most significant advantages. Major players in the cloud migration services market, including IBM Corporation (U.S.)., Amazon Web Services Inc. (U.S.), HCL Technologies (India) and others, are attempting to increase market demand by investing in research and development operations.
Amazon Web Services (AWS) is a subsidiary of Amazon.com, Inc., a global technology company headquartered in Seattle, Washington. AWS was founded in 2006 with the goal of providing a cloud computing platform that businesses and individuals could use to access powerful computing resources, storage, and databases over the internet. AWS is the world's most comprehensive and widely adopted cloud platform, offering over 200 fully featured services from data centers located in regions around the world. These services include computing, storage, databases, analytics, machine learning, security, networking, mobile development, Internet of Things (IoT), and more.
For instance, in May 2021, Amazon Web Services (AWS) stated that the Union Bank of the Philippines was going to move its information technology (IT) systems from on-premises to the cloud by 2022. Through the provision of financial services to remote regions of the country, the move aims to boost financial inclusion in the Philippines, accelerate the bank's digital transformation, and enhance clients' digital banking experiences.
IBM (International Business Machines Corporation) is technology and consulting company headquartered in New York. IBM was founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and was renamed "International Business Machines" in 1924. IBM is one of the world's largest information technology companies, offering a wide range of products and services that include hardware, software, cloud computing, artificial intelligence, blockchain, cybersecurity, and consulting services. IBM has a strong legacy in mainframe computers, but has also developed many other technological innovations throughout its history, including the magnetic stripe card, the relational database, and the Watson AI platform.
For instance, in Sept. 2021, In order to support clients in the region as they deploy hybrid cloud strategies, IBM built a new IBM Cloud Multizone Area (MZR) in Spain and announced a new partnership with CaixaBank, one of Europe's biggest banks. By updating its essential applications and increasing efficiency through increased availability and resiliency, CaixaBank will be able to reaffirm its innovative strategy.
Key Companies in the cloud migration services market include
Cloud Migration Services Industry Developments
With a new range of tools, services, and financial incentives, including credits to lower the cost of migrating older SAP ECC (ERP Central Component) application sets to the cloud or on-premises SAP S/4HANA implementations, SAP is growing its Rise with SAP solutions in 2024. The new SAP S/4HANA Cloud Safekeeper service, which offers extended maintenance for earlier S/4HANA releases for clients who require more time to upgrade, is also part of the newly revealed Rise with SAP Migration and Modernization program.
Oracle Database@Azure, which provides users with direct access to Oracle database services operating on Oracle Cloud Infrastructure (OCI) and deployed in Microsoft Azure datacenters, was announced by Oracle Corp. and Microsoft Corp. in 2023. Oracle Database@Azure combines the security, flexibility, and best-in-class services of Microsoft Azure—including best-in-class AI services like Azure OpenAI—with all the performance, scale, and workload availability benefits of Oracle Database on OCI. Customers now have more options for where to run their workloads thanks to this combo.
Tata Consultancy Services (TCS) has said that the TCS DexamTM data marketplace platform will be available on Google Cloud starting in 2023. Businesses can use the platform to monetize and democratize data across ecosystems. Enterprises need means to communicate data safely and effectively when they collaborate to construct collaborative ecosystems aimed at developing new products and services for their shared client base.
Feb 2020An Indonesian telecom company called Smartfren collaborated with Cisco System Inc. to develop a multi-cloud architecture. The project will spearhead the adoption of managed services, cloud computing, and other cloud services integrated data centre architecture for digital services.
June 2022 Leading worldwide cloud provider Ovhcloud collaborates with Lenet, an established end-to-end IT service provider for American businesses. The collaboration will enable cost-effective, flexible, and secure cloud migration for companies of all sizes.
Cloud Migration Services Market Segmentation
Cloud Migration Services Service Type Outlook
- Automation and Integration
- Disaster Recovery
- Application Hosting and Monitoring
- DevOps
- Training and Consulting
- Support and Maintenance
- Managed Services
Cloud Migration Services Application Outlook
- Project Management
- Infrastructure Management
- Security and Compliance Management
- Others
Cloud Migration Services Organization Size Outlook
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Cloud Migration Services Deployment Model Outlook
- Public Cloud
- Private Cloud
- Hybrid Cloud
Cloud Migration Services Vertical Model Outlook
- BFSI
- Healthcare and Life Sciences
- Telecommunications and ITES
- Government and Public Sector
- Manufacturing
- Consumer Goods and Retail
- Media and Entertainment
- Others
Cloud Migration Services Regional Outlook
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 14.72 billion |
| Market Size 2024 |
USD 17.33 billion |
| Market Size 2032 |
USD 50.56 billion |
| Compound Annual Growth Rate (CAGR) |
14.31% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2019- 2021 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Service Type, Application, Organization Size, Deployment Model, Vertical, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
 Microsoft Corporation (U.S.) Tech Mahindra (India) Dell (U.S.) IBM Corporation (U.S.) HCL Technologies (India) Accenture PLC (Republic of Ireland) Wipro Ltd. (India) NTT DATA, Inc. (Japan) Vmware, Inc. (U.S.) Amazon Web Services Inc. (U.S.) |
| Key Market Opportunities |
Increasing Benefits of Cloud To Organizations Increasing Use of BYOD |
| Key Market Dynamics |
Increase in need for business agility and automation |
Cloud Migration Services Market Highlights:
Frequently Asked Questions (FAQ) :
The Cloud Migration Services Market size was valued at USD 14.72 Billion in 2023.
The global market is projected to grow at a CAGR of 14.31% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Microsoft Corporation (U.S.) Tech Mahindra (India) Dell (U.S.) IBM Corporation (U.S.) HCL Technologies (India) Accenture PLC (Republic of Ireland) Wipro Ltd. (India) NTT DATA, Inc. (Japan) Vmware, Inc. (U.S.) Amazon Web Services Inc. (U.S.).
The Security and Compliance Management cloud migration services category dominated the market in 2022.
The Large Enterprises had the largest share in the global market.
