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The Cloud Migration Services market will grow from USD 12.9 billion in 2023 to USD 72.6 billion by 2032 at a 21.2% CAGR.
AUSTIN, TX, UNITED STATES, January 27, 2025 /EINPresswire / -- The Cloud Migration Services Market size was USD 12.9 Billion in 2023 and is expected to reach USD 72.6 Billion by 2032 and grow at a CAGR of 21.2% over the forecast period of 2024-2032.
The cloud migration services market has grown rapidly, driven by rising demand for scalable, secure, and cost-effective digital transformation solutions.
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Some of Major Keyplayers:
- Amazon Web Services (AWS) (AWS Migration Hub, AWS Database Migration Service)
- Microsoft Corporation (Azure Migrate, Azure Site Recovery)
- Google Cloud (Google Cloud Anthos, Google Cloud Migrate for Compute Engine)
- IBM Corporation (IBM Cloud Paks, IBM Cloud Migration Services)
- Accenture PLC (Accenture Cloud Migration Factory, myNav)
- VMware, Inc. (VMware Cloud on AWS, VMware HCX)
- Rackspace Technology (Rackspace Cloud Migration Services, Rackspace Elastic Engineering)
- Cognizant Technology Solutions (Cognizant Cloud Steps, Cognizant Migration Accelerator)
- Tata Consultancy Services (TCS) (TCS Cloud Migration Factory, TCS BaNCS Cloud)
- HCL Technologies (HCL CloudSmart, HCL Cloudification Framework)
Government Initiatives Drive Cloud Migration Across Multiple Sectors
The cloud migration services market has grown due to government efforts and widespread cloud adoption across industries. The United States Cloud Smart Strategy targets that by 2023, 60% of its federal agencies must migrate their mission-critical workloads. All the other nations including the UK, Germany, and Australia support this through their respective national digital agendas. For example, the cloud spending by public sectors in the UK rose to 20% in 2023. It is witnessed in the sectors such as health, finance, and manufacturing who seek data security and compliance issues. This demand is expected to drive further growth in most sectors.
Segment Analysis
By platform
The solution segment leads the market with a revenue share of 68% in 2023. As the demand for customized solution-based services that address specific challenges arises, be it data security, regulatory compliance, or business continuity, this segment dominates even further. Government policies such as the U.S. Cloud Smart initiative are further driving this growth by encouraging solution-based cloud migrations in the public and private sectors.
By Enterprise Size
large enterprises account for the largest revenue market share of 68% in 2023. The dominance of the workloads is complex and requires large data, along with a need for infrastructure. Large enterprises are better suited to move forward with such complete plans for cloud migration, including solutions for data security, compliance, and disaster recovery. In addition, government policies encouraging cloud adoption are increasing the speed of cloud migration in large enterprises, especially in such crucial sectors as finance, healthcare, and manufacturing.
By Platform
- Solution
- Infrastructure Migration
- Platform Migration
- Database Migration
- Application Migration
- Storage Migration
- Service
- Professional Services
- Managed Services
By Enterprise Size
- Large Size Enterprises
- Small and Medium Sized Enterprises (SMEs)
By Deployment
- Public
- Private
- Hybrid
By End-use Industry
- IT & Telecommunications
- BFSI
- Healthcare
- Government & Public Sector
- Manufacturing
- Automotive
- Retail & Consumer Goods
- Media & Entertainment
- Others
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Regional Development
The cloud migration services market was dominated by North America in 2023, capturing around 35% of the total market share. Early cloud technology adoption, a strong presence of major cloud service providers, and government initiatives such as the Cloud Smart policy have accelerated the shift from on-premise to cloud solutions, which is the reason for this dominance. Thus, cloud migration services in the U.S. have grown at 25% year-on-year in 2023.
The fastest-growing region is expected to be Asia-Pacific, with a significant CAGR during the forecast period. Demand is further fueled by the rapid digital transformation in China, India, and Japan; here, policies like Cloud First policy of China and Digital India programme in India boost cloud migration service demand. They promote the increase in cloud adoption mainly among small and medium enterprises for modernising IT infrastructure.
Recent Developments
. In April 2024, Tata Consultancy Services (TCS) announced a strategic partnership with Amazon Web Services (AWS) to accelerate large-scale cloud migrations. TCS aims to utilize AWS's advanced features to drive digital transformations, particularly in data management and artificial intelligence (AI) solutions.
. In February 2023, Amazon Web Services (AWS) received approval from the U.S. Department of Defense for a new partnership under the Joint Enterprise Defense Infrastructure (JEDI) contract. This collaboration will help migrate critical defense workloads to cloud infrastructure, enhancing national security and positioning AWS as a dominant player in the cloud migration services market.
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Table of Content:
1.Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud Migration Services Market Segmentation, By Platform
8. Cloud Migration Services Market Segmentation, By Enterprise Size
9. Cloud Migration Services Market Segmentation, By Deployment
10. Cloud Migration Services Market Segmentation, By End-user Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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