Global Cloud Migration Services Market | Growth, Trends

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The Global Cloud Migration Services Market to
Increase at CAGR of 25.69 by 2028
Triton Market Research presents the Global Cloud
Migration Services Market segmented by Delivery
Mode (Private, Public, Hybrid), End-user (IT
Telecommunication, Banking, Financial Services
and Insurance (BFSI), Consumer Goods Retail,
Manufacturing, Healthcare Life Sciences,
Government Public Sector, Other End-users),
Type of Service (Infrastructure as a Service,
Software as a Service, Platform as a Service),
Enterprise Size (Small Medium Enterprises,
Large Enterprises), and by Geography (Middle East
and Africa, North America, Latin America,
Asia-Pacific, Europe). The report further
discusses the Market Summary, Industry Outlook,
Impact of COVID-19, Key Insights, Porter's Five
Forces Analysis, Market Attractiveness Matrix,
Vendor Scorecard, Key Market Strategies, Drivers,
Challenges, Opportunities, Competitive Landscape,
Research Methodology Scope, Global Market Size,
Forecasts Analysis (2021-2028).
GLOBAL CLOUD MIGRATION SERVICES MARKET 2021-2028
CAGR 25.69 f The regional paradigm of CLOUD
MIGRATION SERVICES MARKET was dominated by
Asia-Pacific by capturing a majority of revenue
share. In addition, Asia-Pacific is anticipated
to be the fastest growing regional market over
the forecast period. www.tritonmarketresearch.com
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According to Triton Market Research's report, the
global cloud migration services market is
anticipated to grow at a CAGR of 25.69 over the
forecast period 2021-2028. Cloud migration is a
process of transferring digital assets, services,
or resources to the cloud, making them
inaccessible outside of the cloud's
firewall. Cloud adoption in healthcare has grown
significantly since cloud compilation with HIPAA
regulations. Moreover, cloud services help in
remote patient care, playing a significant role
during the COVID-19 outbreak. Further, the sudden
rise in remote working during the pandemic
increased the use of personal devices,
stimulating the need for cloud services.
Therefore, the cloud application in healthcare
and the increase in BYOD trends are likely to
create new opportunities for the cloud migration
services market. However, lack of skilled
workforce and security issues are negatively
impacting the global market's growth. Globally,
the Asia-Pacific is likely to become the
fastest-growing region in the cloud migration
services market. This growth can be attributed to
the shift to public cloud services by banks,
professional service firms, and airlines, among
others. Besides, several governments have
increased their investments, focusing majorly on
transforming the IT infrastructure. Moreover,
they are incorporating the cloud-first approach,
influencing the adoption of cloud migration
services. Thus, such developments are fueling the
cloud migration services market's growth in the
region. The eminent companies in the cloud
migration services market consist of Informatica,
Rackspace Technology Inc, Amazon Web Services
Inc, NTT Data Corporation, Microsoft Corporation,
DXC Technology, IBM Corporation, WSM
International, VMware Inc, Tech Mahindra Ltd,
Accenture, Zerto, Rivermeadow Software Inc,
Google, and Cisco Systems. Several prominent
companies, such as AWS and Microsoft, are
dominating the cloud migration services market.
They invest heavily in the RD of cloud
migrations services to expand their product
portfolio to meet consumers' demand globally.
This indicates that the threat of new market
players is likely to be lower. Furthermore,
companies are introducing new cloud services. For
instance, Informatica launched its intelligent
data management cloud, the first end-to-end
AI-powered data management platform. Hence, these
factors suggest the competition among existing
players to be high over the forecast period.
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