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Cloud Migration Services Market to Reach Valuation of USD 340.7 Billion by 2028 – Growth in the Adoption of Cloud Computing Drives the Market
In terms of revenue, the Global Cloud Migration Services Market is expected to reach USD 340.7 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 24.3% from 2022 to 2028.
Cloud migrations involve moving data, applications, and other business elements to a cloud computing environment. As discussed in our report, the need for Cloud Migration Services Market is rising rapidly due to the increasing need of preserving scalability, flexibility, online collaboration, automation of processes, increased mobility, and robust data protection.
The proliferation of Internet-enabled gadgets has also contributed to a meteoric increase in data volume. For this reason, Cloud Migration Services Market are predicted to grow in popularity as the need for cheap data storage grows. Moreover, the Cloud Migration Services Market combine the knowledge of research and innovation along with the entire lifecycle of cloud-ready solutions to provide accelerated Time-to-Market (TTM) and improved operational processes.
Key Highlights from Report:
Market Dynamics:
The increasing popularity of cloud computing is one major element contributing to the expansion of the Global Cloud Migration Services Market. Additionally, this usage of cloud computing has expanded because of the increasing investments from SMEs. As a result, the Cloud Migration Services Market is likely to experience increased demand. The expansion of this market will also be fueled by the widespread adoption of AI and ML. In addition, the shift from a CAPEX to an OPEX paradigm and the widespread use of containers as a service will fuel market growth. Also, Cloud Migration Services Market facilitates market players to move applications and databases from a legacy, on-premise IT infrastructure to the public cloud, which includes operating cost optimization strategy, setting monitoring tools, and transferring knowledge to in-house teams.
North America held the Cloud Migration Services Market share and is expected to be the most lucrative market during the forecast period. This surge is because of the rise in adoption of Cloud Migration Services Market owing to the presence of large enterprises and enhanced technical expertise. In addition, implementing the newest technologies such as Big Data, cloud solutions, mobility, and social media by organizations in this region is driving the regional market growth. Besides, the surging investments in digital solutions like digital healthcare solutions, digital banking, advanced manufacturing systems, and connected solutions will fuel the market growth in North America.
The Global Cloud Migration Services Market is Segmented as follows:
List of the Key Players of the Global Cloud Migration Services Market is:
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The Global Cloud Migration Services Market Scope can be Tabulated as below:
Parameter
Details
Market Size Provided for Years
2016-2028
Base Year
2021
Historic Years
2016-2020
Forecast Years
2022-2028
Segments Covered
Region & Counties Covered
Companies Covered
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
impact analysis
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Cloud Migration Services Market to Reach Valuation of USD 340.7 Billion by 2028 – Growth in the Adoption of Cloud Computing Drives the Market
12 Oct 2022
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Historical Data | Base Year
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Cloud Migration Services Market to Reach Valuation of USD 340.7 Billion by 2028 – Growth in the Adoption of Cloud Computing Drives the Market
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