LONDON, Oct. 12, 2016 /PRNewswire/ -- "Growing trend of workload migration to cloud, demand for strategic business processes, and the need for reduced operational costs are driving the cloud migration services market"
The cloud migration services market size is estimated to grow from USD 2.42 billion in 2016 to USD 7.06 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.9% from 2016 to 2021.The cloud migration services market is driven by factors such as increased migration of workloads to cloud environment by Small and Medium Enterprises (SMEs) and the inclination of enterprises toward 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.
"Professional services segment to have high growth rate during the forecast period"
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 share of the market, whereas Asia-Pacific (APAC) is projected to grow at the highest growth rate"
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.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below as:
- By Company: Tier 1 – 40%, Tier 2 – 33%, and Tier 3 – 27%
- By Designation: C level – 42%, Director level – 38%, Others – 20%
- By Region: North America – 56%, Europe – 25%, APAC – 12%, ROW- 7%
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 various key cloud migration services vendors and service providers profiled in the report are as follows:
1. Amazon Web Services (Seattle, Washington, U.S.)
2. IBM Corporation (Armonk, New York, U.S.)
3. Microsoft Corporation (Redmond, Washington, U.S.)
4. Google, Inc. (Mountain View, California, U.S.)
5. Cisco Systems (San Jose, California, U.S.)
6. WSM (St. Clair Shores, Michigan, U.S.)
7. Computer Sciences Corporation (Falls Church, Virginia, U.S.)
8. Rackspace, Inc. (Windcrest, Texas, U.S.)
9. RightScale, Inc. (Santa Barbara, California, U.S.)
10. Verizon Enterprise Solutions (New York, U.S.)
11. NTT Data Corporation (Koto-Ku, Tokyo, Japan)
12. VMware Inc. (Palo Alto, California, U.S.)
Scope of the Report
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.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the cloud migration services market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on cloud migration services offered by the top players in the global cloud migration services market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the cloud migration services market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for cloud migration services across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global cloud migration services market
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