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 market drivers are existing market offerings and increasing focus on pricing and promotions.
Major players in the cloud migration services market are Amazon Web Services (US), Cisco (US), Google (US), DXC (US), Microsoft (US), and IBM (US). These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, joint ventures and collaborations, and new product launches. Partnerships and new product launches are the 2 major strategies often adopted by these players to gain a strong foothold in the cloud migration services market.
IBM offers robust cloud migration services, tools and automation to enterprises for cloud deployment to optimize the migration, and streamline data collection through advanced technology. In the recent years, the company has been focusing more on adopting different business strategies to offer innovative services to customers, in turn enhancing their experience. In October 2017, IBM announced 2 new services, IBM Cloud Migration Services and IBM Cloud Deployment Services, for enterprises to move their data and applications to the cloud. These services migrate existing workloads to the public cloud more easily and cost effectively. Furthermore, in September 2017, IBM launched IBM Cloud Mass Data Migration, 120 TB capacity portable storage device. The device enables enterprises to securely migrate terabytes to petabytes of data into the IBM cloud without disrupting daily operations.
DXC offers a robust advisory, transformation, and migration solutions for global customers. It includes cloud and workload advisory services, application transformation services, and cloud and workload migration services. Thus, it becomes evident that in the recent years, the company has undertaken various partnerships to expand the service offerings and customer base, as well as, provides innovative offerings to customers. In August 2017, DXC and VMware formed a partnership to offer new Managed Hybrid Cloud Services to customers. This partnership enables DXC customers to offer faster migration to hybrid cloud with additional benefits of operational consistency, resilience, security, and reduced cost. Also, customers can experience enhanced workload migration between data centers. Moreover, in May 2017, DXC launched new security capabilities on AT&T FlexWare. It offers customers with enhanced efficiency, productivity, and security for migration, orchestration, and management of cloud-based networks in enterprises.
The cloud migration services market research report analyzes the global adoption trends, growth potentials, key drivers, vendor portfolio analysis, restraints, and opportunities in the market.
Cloud Migration Services Market by Service Type (DevOps, Disaster Recovery, Managed Services), Application (Project Management, Compliance & Security Management, Infrastructure Management), Deployment Model, Vertical, and Region - Global Forecast to 2022
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