Global Cloud Migration Service Market is Estimated to Witness High Growth Owing to the Rising Demand For Cloud Cost
Cloud migration services are professional services offered by cloud service providers and IT vendors to migrate applications, data, databases, servers from on-premises data centers to public or private clouds. Cloud migration offers benefits like cost savings, scalability, faster deployment of applications, better security, and uninterrupted services. The growing need to optimize IT infrastructure costs and gain agility is a key factor driving enterprises to switch to cloud services.
The Global Cloud Migration Service Market is estimated to be valued at US$ 7.88 Bn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Global Cloud Migration Service market are Archer Daniels MidlandCompany, Jungbunzlauer Suisse AG, Basel, Pfizer Inc., Shandong Juxian Hongde Citric Acid Co. Ltd., Delek Group, Cargill, Incorporated, Weifang Ensign Industry Co., Ltd., Tate & Lyle plc., COFCO Biochemical (AnHui) Co. Ltd., and RZBC GROUP. These players are focusing on mergers and acquisitions to expand their presence and capabilities in cloud migration services.
The Global Cloud Migration Service Market Trends for disaster recovery, cloud cost optimization, scalability, and modernization of legacy applications are presenting considerable growth opportunities for cloud migration service providers. Major cloud vendors are offering specialized migration solutions, tools, and resources to help enterprises in seamless cloud migration.
Technological advancements in automation tools, serverless architecture, AI/ML, and containers are further simplifying and accelerating the cloud migration process. Many service providers are adopting technologies like AI to analyze application environment and recommend optimal cloud migration strategies. Containers are helping in easy portability of applications to hybrid and multi-cloud environments.
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