New Report: Cloud Migration Services Market Size is Expected to Grow from USD 3.17 Billion in 2017 to USD 9.47 Billion By 2022, at a CAGR of 24.5%

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22 Dec, 2017, 14:30 GMT

DUBLIN, Dec. 22, 2017 /PRNewswire/ --

The "Cloud Migration Services Market by Service Type (Disaster Recovery, Managed Services), Application (Project Management, Compliance & Security Management, Infrastructure Management), Deployment Model, Vertical & Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

The cloud migration services market is expected to grow from USD 3.17 Billion in 2017 to USD 9.47 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

The demand for cloud computing is expected to be driven by many factors, such as lower costs, flexibility, agility, and security. Cloud migration services combine the know-hows of research and innovation, with the complete lifecycle of cloud-ready solutions, to offer accelerated Time-to-Market (TTM) and enhanced operational processes.

The cloud migration services market has been segmented on the basis of service types, applications, organization sizes, deployment models, verticals, and regions. The DevOps service type is expected to grow at the highest CAGR during the forecast period, and the automation and integration service type is estimated to have the largest market size in 2017 in the cloud migration services market. The adoption of cloud services among Small and Medium-sized Enterprises (SMEs) have become a central part of the business process, owing to the ease of use and the flexibility they offer, and is expected to grow in the coming years.

The public cloud deployment model is estimated to hold the largest market share in 2017. By using cloud migration services, enterprises are developing newer and better ways of enhancing operational benefits, while reducing the costs. Faster deployment, scalability, and agility; cloud compliance requirements, need for lower CapEx and Opex, enforcing mobility, and uninterrupted business continuity are expected to drive the demand for cloud migration services. The enterprises, which are adopting cloud migration services, are increasingly inclined toward deploying cloud-based solutions to run their critical business functions.

North America is estimated to hold the largest market size in 2017, whereas the Asia-Pacific (APAC) region is projected to grow at the highest CAGR during the forecast period in the cloud migration services market. An increasing need for efficient computing framework and shifting workload to the cloud environment are said to be driving the demand for cloud migration services, globally.

Market Dynamics

Drivers

  • Increased Agility And Automation
  • Faster And Easier Deployment
  • Increasing Awareness About Business Continuity
  • Need for Lower Capex And Opex

Restraints

  • Enterprise Applications' Compatibility With Cloud
  • Fear of Vendor Lock-In

Opportunities

  • Opportunities for Msps
  • High Adoption Rate of Cloud Migration Services in the Healthcare Vertical

Challenges

  • Complexities in Redesigning the Network for Cloud
  • Cloud Interoperability
  • Compliance With Stringent Regulations

Companies Mentioned

  • AWS
  • Cisco
  • DXC
  • Google
  • IBM
  • Informatica
  • Microsoft
  • NTT Data
  • Openstack
  • Rackspace
  • Rivermeadow
  • Virtustream
  • Vmware
  • WSM
  • Zerto

For more information about this report visit https://www.researchandmarkets.com/research/n93rzv/new_report_cloud?w=5

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