Global Migration Services Market by Deployment; by Service Type; by Organization Size; by Application; by End User Industry; and by Region, - Global Forecasts 2021 to 2027

Date : Sep 2021

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Report ID : 767

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Category : Information Technology

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Report Format:  PDF EXCEL PPT WORD

The Global Migration Services Market was valued at USD 104.1 Bn in 2020 and is expected to reach USD 518.1 Bn by 2027, with a growing CAGR of 25.8% during the forecast period.

The Global Migration Services Market Definition:

The migration services (in reference- cloud migration services) refers to the process of moving company’s valuable assets such as data, IT resources, applications and workloads to the cloud that is moving the assets from on-premises to the cloud or from one cloud services to the other. Businesses migrate to cloud owing to varied benefits associated with cloud computing, one such major reason is access to limitless virtual computer services provided by cloud computing.

Migration Services Market

The Global Migration Services Market Dynamics:

The global migration services market is accounted to hold the largest market size in the year 2020 and is expected to continue the growth during the forecast period. The growing adoption of cloud computing has been driven by increased investment by small and medium-sized enterprises (SMEs) over the past decade. Many organizations worldwide are already moving to cloud platforms to take benefits of its features. Recent cloud adoption is an important consideration in IT cost reduction strategies. According to a report released by telecommunications company CenturyLink, cloud computing technology is expected to generate USD 411 billion in revenue by 2020.

Hosting applications and data in an effective IT environment that depends upon factors such as performance, security, and cost is a common advantage or goal of the cloud migration process. Companies have to identify the right cloud scenario among the four, a public cloud, which provides access to compute resources through dedicated connections or the internet; a private cloud, which uses a proprietary architecture and keeps data within the data center. Hybrid cloud combines a private cloud model and a public cloud model to transfer data between the two or multi-cloud enterprises use Infrastructure-as-a-service (IaaS) options from multiple public cloud providers. Deploying applications to the cloud is often seen as the most logical measure for growth, as it eventually frees corporate IT teams from the uptime management load.

The Global Migration Services Market Segmentation:

  • By Deployment
    • Private Cloud
    • Public Cloud
    • Hybrid Cloud
  • By Service Type
    • Application Hosting and Monitoring
    • Automation and Integration
    • DevOps
    • Support and Maintenance
    • Disaster Recovery
    • Managed Services
    • Training and Consulting
  • By Organization Size
    • Small and Medium Enterprises (SMEs)
    • Large Enterprises
  • By Application
    • Infrastructure Management
    • Project Management
    • Security & Compliance Management
    • Others
  • By End User Industry
    • Media and Entertainment
    • BFSI
    • Consumer Goods and Retail 
    • Healthcare and Life Sciences
    • Manufacturing
    • Telecommunications and ITES
    • Government and Public Sector
    • Others (Education and Travel & Hospitality)
  • By Region
    • Asia Pacific
    • North America
    • Latin America
    • Europe
    • Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the migration services market are:

  1. Amazon Web Services, Inc.
  2. Microsoft Corporation
  3. Accenture PLC
  4. Google, Inc.
  5. WSM International LLC
  6. Tech Mahindra
  7. NTT DATA Corporation
  8. Virtustream
  9. RiverMeadow Software, Inc.
  10. Informatica
  11. Vmware, Inc.
  12. DXC Technology
  13. Zerto
  14. Cisco Systems, Inc.
  15. OpenStack
  16. International Business Machines Corporation (IBM)
  17. Rackspace Hosting Inc.
  18. N-iX
  19. ProMX AG
  20. IT Svit
  21. Concise Software
  22. Scale Focus
  23. Qvik
  24. UNITY Group
  25. SoftwareONE
  26. The APP Solutions
  27. 2nd Watch
  28. The Software House
  29. 8K Miles
  30. Intelligence partner
  31. Nous Infosystems
  32. Veritis Group inc.
  33. SCTG
  34. Infogain
  35. Maven Wave
  36. Trigent Software

The unique insight provided by this report also includes the following:

  1. In-Depth Value Chain Analysis
  2. Sector Snapshot
  3. Opportunity Mapping
  4. Key Players Positioning Matrix
  5. Strategies Adopted-Benchmarking Heat Map
  6. Market Trends
  7. Regulatory Scenario
  8. Covid-19 Impact Analysis
  9. Product Comparison
  10. Pre & Post COVID 19 Impact On Migration Services Market
  11. Competitive Landscape

Based on end user industry, the BFSI segment is expanding at a significant growth rate during the period 2021-2027 owing to increased demand from BFSI to shift to cloud

The banking, financial services, and insurance sector based on end user applications is expected to dominate the global migration services market cloud solutions help banks cut costs by significantly reducing infrastructure costs. As a result, several vendors offer IaaS and PaaS applications to avoid the necessity for management of host maintenance, upgrades, and scaling of service operations targeting the BFSI sector. For instance, in January 2020, Broadridge Financial Solutions signed a contract with IBM to provide Broadridge customers in the financial services industry with new cloud-based solutions. Banco Sabadell, IBM, a privately held large-sized banking group in Spain, has announced a 10-year service agreement that includes strategic development of its business model in the capabilities of the public cloud.

Based on regions, the migration services market in North America accounted for the largest share in 2020 owing to extensive presence of major players coupled with well-developed technological infrastructure, followed by Asia Pacific and Europe

North America is expected to dominate the cloud migration services market with the highest market share during the forecast period. In North America, large companies are most likely to adopt cloud migration services by implementing better technical expertise and the latest technology.

According to a 2019 IBM study, over 95% of North American businesses have migrated their critical applications and IT infrastructure to the cloud in the preceding year. Additionally, more than 80% of businesses in the region said they are looking to transition some applications to the cloud in the next year. North America's high-end industrial landscape is driving the need for cloud transformation to include AI widely at various operational levels. BYOD also has a significant impact on businesses to realize the benefits of cost savings, productivity, and flexibility.

Europe is slowly evolving towards moving workloads to cloud environments to process data faster and gain faster business insights. APAC, MEA, and Latin America record significant growth with cloud migration services as many large companies are expected to take advantage of significant growth opportunities to expand migration services market in the region. SMEs in the region are also realizing the benefits of cloud computing and leading business outcomes, migrating solutions to improve efficiency and productivity to the cloud.

The report also provides an in-depth analysis of migration services market dynamics such as drivers, restraints opportunities and challenges

 

Drivers

  • Growing agility and automation
  • Rise in awareness regarding business continuity
  • Faster and easier deployment
  • Need for lower capex and opex

Restraints

  • Fear of vendor lock-in
  • Enterprise applications’ compatibility with cloud
  • Compliance with stringent regulations

Opportunities

  • High adoption rate of cloud migration services in the healthcare vertical
  • Opportunities for MSPS

Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.

COVID-19 Impact on the Migration Services Market Analysis

The impact of COVID-19 has greatly affected the migration services market. The on-going outbreak of COVID-19 across the world is causing major restrictions on businesses with in-house IT systems running. Several CXOs are being forced to accelerate the digital tools and technologies owing to which cloud migration is witnessing significant growth. As a result, most of these organizations choose to move quickly to the cloud. According to Microsoft, post-pandemic the company is expected to witness over a 775% increase in demand for cloud services. In 2018, Bunnyshell raised USD 1 million in funding, announced a free cloud transition for start-ups’ suffering from the COVID-19 pandemic. This is one of the strong marketing strategies being adopted by emerging companies in the migration services market to take advantage of the telecommuting mode that many companies around the world continue to practice.

The report also provides in-depth analysis of key trends in migration services market

Sr. No. Trends Impact
1 Increasing demand for cloud migration for business continuity from large-sized and medium-sized enterprises is propelling the migration services market growth Positive
2 In various organizations around the world, low CAPEX and OPEX preferences are expected to drive migration services market growth Positive
3 The impact of covid-19 outbreak on businesses operating with on-premise IT systems and thus shifting to cloud services is driving the global migration services market growth Positive

The report also provides an in-depth analysis of recent news developments and investments

  • In September 2020, Accenture PLC launched the formation of Accenture Cloud First with the total investment of USD 3 billion over three years. The Accenture Cloud First will help clients across the world to accelerate their digital transformation for better scale and speed.
  • In January 2019, Amazon Web Services, Inc. announced its successful acquisition over TSO logic, a cloud migration tool provider. This acquisition will help Amazon Web Services, Inc. with a benefiting tool to calculate the cost to shift to cloud with the running business workloads, which in turn can help AWS sales persons to gain new businesses.

Frequently Asked Questions (FAQs)

What is market value for the global migration services market?

The global migration services market was valued at USD 104.1 Bn in 2020 and is anticipated to reach USD 508.1 Bn by 2027

What is the estimated market growth rate of migration services market?

The migration services market is estimated to grow at a compound annual growth rate (CAGR) of 25.8% during the forecast period.

Which is the largest regional segment for global migration services market?

In the base year 2020, North America accounted for largest market share in the migration services market

Who are the key players in the migration services market?

A few key players include, but not limited to: Amazon Web Services, Inc., Microsoft Corporation, Accenture PLC, Google, Inc., WSM International LLC, Tech Mahindra, NTT DATA Corporation, Virtustream, RiverMeadow Software, Inc., Informatica, Vmware, Inc., DXC Technology, Zerto, Cisco Systems, Inc., and OpenStack.

Does the report provide detailed COVID-19 analysis for migration services market?

Yes, the report contains detailed COVID-19 analysis for migration services market.

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  1. Introduction
    1. Product outline
    2. Migration services market definition
    3. Different types of migration services  
    4. Analysis of migration services  ecosystem
    5. Supply chain analysis
    6. Covid -19 impact
    7. Market dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology overview
    9. Patent analysis
  2. Technology and Regulatory Landscape for Migration services    
    1. Regulations and standards
  3. Migration Services  Market Pricing Analysis
    1. Prices of migration services   
  4. Migration Services  Market by Deployment
    1. Private Cloud
    2. Public Cloud
    3. Hybrid Cloud
  5. Migration Services  Market  by Service Type
    1. Application Hosting and Monitoring
    2. Automation and Integration
    3. DevOps
    4. Support and Maintenance
    5. Disaster Recovery
    6. Managed Services
    7. Training and Consulting
  6. Migration Services  Market  by Organization Size
    1. Small and Medium Enterprises (SMEs)
    2. Large Enterprises
  7. Migration Services  Market by Application
    1. Infrastructure Management
    2. Project Management
    3. Security & Compliance Management
    4. Others
  8. Migration Services  Market by End User Industry
    1. Media and Entertainment
    2. BFSI
    3. Consumer Goods and Retail 
    4. Healthcare and Life Sciences
    5. Manufacturing
    6. Telecommunications and ITES
    7. Government and Public Sector
    8. Others (Education and Travel & Hospitality)
  9. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  10. Key Strategic Insights
    1. New applications
    2. Emerging technologies
    3. Opportunity mapping
    4. Critical success factors
    5. Environmental impact and sustainability issues
    6. Consumer preferences
  11. Key Market Trends / Recent Developments
  12. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  13. Key Global Players
    1. Amazon Web Services, Inc.
    2. Microsoft Corporation
    3. Accenture PLC
    4. Google, Inc.
    5. WSM International LLC
    6. Tech Mahindra
    7. NTT DATA Corporation
    8. Virtustream
    9. RiverMeadow Software, Inc.
    10. Informatica
    11. Vmware, Inc.
    12. DXC Technology
    13. Zerto
    14. Cisco Systems, Inc.
    15. OpenStack

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