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Cloud Migration Services Market Size - By Platform (Solution, Services) By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), Organization Size (large Enterprises, SMEs), Application, Vertical, Regional Insights and Forecast, 2024 – 2032


Published on: 2024-07-07 | No of Pages : 240 | Industry : Media and IT

Publisher : MIR | Format : PDF&Excel

Cloud Migration Services Market Size - By Platform (Solution, Services) By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), Organization Size (large Enterprises, SMEs), Application, Vertical, Regional Insights and Forecast, 2024 – 2032

Cloud Migration Services Market Size

Cloud Migration Services Market was valued at over USD 11 billion in 2023 and is estimated to register a CAGR of over 23% between 2024 and 2032. Companies are becoming more agile and resilient in fast-changing business environments in order to meet continuously increasing customer demands. Cloud migration services play a pivotal role in this endeavor by offering scalable IT resources that can be swiftly accessed, enabling the expedited deployment of applications and services. Automation is crucial for streamlining the migration process, reducing reliance on manual processes, and accelerating time-to-value.

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The evolving security landscape is a key driver propelling the cloud migration services demand. As organizations transfer their workloads to the cloud, they encounter increasingly advanced cyber threats and compliance challenges. These concerns are adequately addressed via cloud migration services, which provide robust security measures including data encryption, Identity & Access Management (IAM), and threat detection as well as prevention.

Cloud Migration Services Market Report Attributes
Report Attribute Details
Base Year 2023
Cloud Migration Services Market Size in 2023 USD 11 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 23%
2032 Value Projection USD 75 Billion
Historical Data for 2018 – 2023
No. of Pages 230
Tables, Charts & Figures 352
Segments covered Platform, Deployment, Organization Size, Application, Vertical and Region
Growth Drivers
  • Increasing demand for agility and automation
  • Growing adoption of cloud-native technologies
  • Evolving security landscape
  • Government initiatives and regulations
  • Maturity and cost-effectiveness of cloud services
Pitfalls & Challenges
  • Lack of planning and strategy
  • Hidden costs and vendor lock-in

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The market for cloud migration services may experience planning and strategy concerns due to lack of clear roadmap that causes project delays, cost overruns and disruptions in operations. In the absence of well-defined plans, businesses may underestimate the complexities involved in migrating their workloads into the cloud, resulting in compatibility issues, data loss, and security exposures. Moreover, insufficient planning can obstruct resource optimization in the cloud and undermine expected scalability, agility and cost savings. Developing a holistic migration strategy development that caters to business needs is essential for overcoming these challenges.

Cloud Migration Services Market Trends

The cloud migration services industry is driven by the increasing adoption of cloud-native technologies. Such cloud-native technologies, for example containers, microservices & serverless computing, have many advantages including scalability, agility and efficiency that are consistent with the goals of cloud migration initiatives. Many organizations are turning to these technologies in order to modernize their applications and infrastructure so that they can fully utilize the capabilities of cloud platforms. Cloud migration services help organizations transition to cloud-native architectures through offering expertise, tools and best practices for optimizing application performance, scalability and resilience in the cloud environment.

The development of computer technology has led to a wide range of cloud platforms that are used in business support. As an example, cloud providers vary from Infrastructure-as-a-Service (IaaS) to Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS), offering organizations scalable & flexible solutions that improve the efficiency of their operations, accelerate organizational responses, and lead to groundbreaking ideas. Notably, cloud services are increasingly becoming more affordable because of pay-as-you-go pricing models where businesses only pay for what they use without any upfront infrastructure or hardware investments. Cloud migration services leverage the maturity and cost-effectiveness of the cloud-based model so that organizations can easily migrate their workloads, optimize resource utilization and maximize Return on Investment (ROI).

Cloud Migration Services Market Analysis

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Based on platform, the solution segment held the largest market share of over 70% in 2023. The cloud industry is increasingly embracing infrastructure migration since it enables firms to renovate their IT landscapes, expand resources and decrease expenses incurred. Organizations continue shifting on-premises infrastructure such as servers, network elements, storage devices on to the cloud as they realize the benefits of cloud computing. This approach helps companies to avoid heavy investments in physical infrastructures as well as reduce maintenance costs when scaling up or down in line with business changes. The move also allows them to exploit native-cloud apps giving them access to advanced functionalities including serverless computing, managed databases and containers.

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Based on vertical, the IT & telecommunications segment is anticipated to register a CAGR of over 22% from 2024 to 2032. Cloud migration services are experiencing a notable growth in the IT and telecommunications sectors for various reasons. Firstly, cloud migration presents a very attractive strategy that enables companies to embrace the latest technology and refresh their information architecture while also ensuring cost-effectiveness, scalability, and agility. Similarly, organizations can improve their operations efficiency by transferring their IT systems and apps to cloud infrastructures. Similarly, the telecom industry is increasing its dependence on the cloud-based services due to 5G network transmission that requires low-latency infrastructure for high-speed data transfers.

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North America occupied over 37% share of the global cloud migration services market in 2023. Technological advancement in the United States is facilitated by the adoption of cloud computing by organizations. The technological, financial, medical and commercial companies also are moving their infrastructures & apps to a cloud for better agility, scalability and innovation. The regional cloud service market is mature, with numerous advanced migration providers that handle various corporate needs. For every size of business, these vendors offer comprehensive solutions of moving to the cloud.

Cloud Migration Services Market Share

IBM Corporation and SAP SE held a significant share of the cloud migration services industry in 2023. IBM Corporation is a global technology innovator, leading advancements in AI and automation and offering hybrid cloud solutions. The company's extensive range of cloud migration services is to assist businesses in smoothly migrating their workloads, apps, and IT infrastructure to the cloud.

SAP SE is a leading enterprise software-providing company. SAP SE provides a full range of cloud migration services to assist businesses in smoothly migrating their business apps and processes to the cloud. With SAP's cloud migration services, businesses can upgrade their IT infrastructure and take advantage of cloud computing. These services include planning, evaluation, execution, and post-migration support.

Cloud Migration Services Market Companies

Major players operating in the cloud migration services industry are

  • IBM Corporation
  • SAP SE
  • Google LLC
  • Capgemini
  • Amazon Web Services, Inc.
  • Microsoft
  • Hewlett Packard Enterprise Development LP
  • Accenture
  • VMware, Inc.
  • NTT DATA Americas, Inc.
  • Tata Communications
  • Wipro
  • Kyndryl Inc.
  • Veritis Group Inc.
  • RedHat
     

Cloud Migration Services Industry News

  • In September 2023, Cevo, an AWS Advanced Consulting Partner, helped a major U.S. financial institution move to cloud-native architecture. Cevo was selected for implementation of a decoupled event-driven architecture as opposed to the old monolithic on-premises based system that utilizes most recent AWS services. This transformation has helped the institution heighten operational efficiency and reduce costs in addition to providing increased reliability and availability of its customer platform.
  • In June 2023, Fresenius SE & Co., a global healthcare company, moved key SAP systems to the cloud using RISE with SAP which is an extensive collection of offerings by SAP that enables businesses to become intelligent enterprises. Through this strategic decision, Fresenius has been able to increase scalability and boost application security as well as encourage digitalization across its global business processes.

This cloud migration services market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments

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Market, By Platform

  • Solution
    • Infrastructure Migration
    • Platform Migration
    • Database Migration
    • Application Migration
    • Storage Migration
  • Services
    • Professional Services
    • Managed Services

Market, By Deployment

  • Public Cloud
  • Private Cloud
  • Hybrid

Market, By Organization Size

  • Large Enterprises
  • Small & Medium-Sized Enterprises (SMEs)

Market, By Application

  • Project Management
  • Infrastructure Management
  • Security & Compliance Management
  • Supply Chain Management (SCM)
  • Content Management
  • Others

Services Market, By Vertical

  • IT & Telecommunications
  • BFSI
  • Healthcare
  • Government & Public Sector
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

Frequently Asked Questions (FAQ)

How big is the cloud migration services market?

The market size of cloud migration services was crossed USD 11 billion in 2023 and is expected to register over 23% CAGR through 2032, owing to their ability to offer scalable IT resources that can be swiftly accessed, enabling the expedited deployment of applications and services worldwide.

Why is the demand for cloud migration services in the solutions platform growing?

Cloud migration services industry from the solution segment recorded over 70% share in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to the cloud industry enabling firms to renovate their IT landscapes, expand resources and decrease expenses incurred.

What is the size of the North America cloud migration services market?

North America cloud migration services industry held over 37% share in 2023 and is expected to register a commendable CAGR from 2024 to 2032, due to technological, financial, medical and commercial companies, moving their infrastructures & apps to a cloud in the region.

Who are the key leaders in the cloud migration services industry?

IBM Corporation, SAP SE, Google LLC, Capgemini, Amazon Web Services, Inc., Microsoft, Hewlett Packard Enterprise Development LP, Accenture, VMware, Inc., and NTT DATA Americas, Inc., are some of the major cloud migration services companies worldwide.

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