Cloud Migration Tool Market - Forecast(2024 - 2030)

IndustryARC? Cloud Migration Tool Market Overview

The Global market for Cloud migration tool is forecast to reach $13.2 billion by 2026, growing at a CAGR of 18.9% from 2021 to 2026. The market growth of cloud migration tool is mainly due to the growing demand of cloud services. The key factors for shifting to the cloud includes scalability, improved performance, quicker deployment, accessibility recovery from disasters, improved intrusion detection and others. Furthermore, advances in new technology, such as edge computing, IoT, electronic control unit and cloud storage, are anticipated to generate sufficient prospects for propulsion of the market growth of cloud migration tools. The demand of cloud migration tools is increasing owing to their faster connectivity to run multiple application. Adoption of cloud integration is rising in various organization owing to cost-effective, obfuscation technique, capable system emulation and flexible solutions which are driving the growth of this market. E-commerce data integration provides a significant improvement in functionality and provide security. It also helps to save time and increase productivity which are driving the growth of the market.

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The Cloud Migration Tool market is experiencing significant growth as organizations increasingly transition their workloads and applications to cloud environments. Key factors driving this market include:

1. Cloud Adoption: With the widespread adoption of cloud computing across industries, organizations are seeking efficient and seamless ways to migrate their on-premises infrastructure and applications to the cloud. Cloud migration tools offer automation and orchestration capabilities, enabling businesses to streamline the migration process and minimize downtime.
2. Digital Transformation Initiatives: As part of their digital transformation initiatives, organizations are modernizing their IT infrastructure and leveraging cloud services to improve agility, scalability, and innovation. Cloud migration tools play a crucial role in facilitating this transformation by enabling the seamless transition of legacy systems and applications to cloud platforms.
3. Hybrid and Multi-cloud Environments: Many organizations are adopting hybrid and multi-cloud strategies to leverage the benefits of multiple cloud providers and on-premises infrastructure. Cloud migration tools support these complex environments by providing interoperability and compatibility across different cloud platforms, enabling organizations to migrate workloads seamlessly between environments.
4. Cost Optimization: Cloud migration tools help organizations optimize their IT costs by identifying cost-saving opportunities, right-sizing resources, and optimizing workload placement in the cloud. By automating the migration process and optimizing resource utilization, organizations can reduce their infrastructure costs and achieve better ROI from their cloud investments. ?????? ?????? Cloud Migration Tool Market?
5. Security and Compliance: Security and compliance are top priorities for organizations migrating to the cloud. Cloud migration tools offer built-in security features and compliance controls to ensure that sensitive data and workloads are protected during the migration process. These tools help organizations maintain compliance with industry regulations and security best practices while migrating to the cloud.
6. Application Modernization: Cloud migration tools enable organizations to modernize their applications by refactoring or rearchitecting them for cloud-native environments. These tools provide capabilities such as containerization, microservices architecture, and serverless computing, enabling organizations to build scalable and resilient applications in the cloud.
7. Data Management and Migration: Data migration is a critical aspect of cloud migration projects. Cloud migration tools offer data migration capabilities to help organizations transfer large volumes of data to the cloud efficiently and securely. These tools support various data migration scenarios, including database migration, file migration, and data synchronization between on-premises and cloud storage.

Overall, the Cloud Migration Tool market is driven by the increasing demand for cloud services, digital transformation initiatives, hybrid and multi-cloud adoption, cost optimization, security and compliance requirements, application modernization, and data management challenges. As organizations continue to embrace cloud computing, the demand for cloud migration tools is expected to grow, driving innovation and competition in the market.

Report Coverage ?????? ?????? Cloud Migration Tool Market?

The report:?“Cloud migration tool Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Cloud migration tool Service?- Professional services (Automation and Integration, Disaster Recovery, Application Hosting and Monitoring, DevOps, Training and Consulting, Support and Maintenance) Managed Services.

By Deployment model?- Public Cloud, Private Cloud, Hybrid Cloud.

By Organization Size?- Small, Medium, Large.

By Application?- Project Management, Infrastructure Management, Workforce Management, Security and Compliance Management, Others.

By End User?- BFSI, Healthcare, IT and Telecommunications, Government, Retail, Manufacturing, Energy & Utilities, Media and Entertainment, Others.

By Geography - North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia,, Netherlands and Others), APAC (China, Japan India, SK, Australia, Indonesia, Malaysia and Others), South America (Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

Key Takeaways

• Cloud migration tool is gaining attention owing to its benefits provided for its real-time interface, enterprise features and on premise application usability. This system also allows building and operating work in limited time on the basis of multiple units.
• Enhanced business performance due to better IT services provided by cloud computing for small and medium-sized enterprises (SMEs) tends to drive the growth of the cloud migration tool market. ?????? ?????? Cloud Migration Tool Market?
• APAC region is expected to dominate the global Cloud migration tool market during the forecast period 2021-2026 owing to the rising digital transformation and growing adoption rates of cloud technologies in different verticals such as banking and financial services, IT and telecommunication, Retail and other

Cloud Migration Tool Market, By Geography, 2020

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Cloud Migration Tool Marketnbsp;Segment Analysis - By Service type

Automation and integration service holds the highest market share of cloud migration tool market in 2020 at 20.9%. Moreover, it is anticipated to witness significant market growth during the forecast period 2021-2026 owing to the worldwide adoption of cloud migration services. Automation and integration service provide benefits to the enterprises by improving flexibility, enhancing efficiency, improving resource management and productivity of the business. Furthermore, it provides a platform for catering all business requirement. In March 2020, the Business Ecosystem Integration Services (BEIS) suite was introduced by Tata Consultancy Services (TCS), a leading global IT software, advisory and market solutions organisation, to help companies connect with broader ecosystems and develop new customer-centred, extended deals.?

Cloud Migration Tool Market nbsp;Segment Analysis - By End user type

Banking and financial services (BFSI) is the dominant end user vertical of cloud migration tool market in 2020 at 18.5%. Moreover, it is analyzed that this vertical will have substantial market growth during the forecast period 2021-2026. This vertical deals with large number of customers thus there is the need for IT infrastructure that remain available throughout the year in order to meet the required services internal as well as external. Thus migrating the workloads to cloud provide BFSI to cut short the cost of IT and infrastructure. Additionally, presence of huge pile of data needed to be properly correlated and managed for adding up to the business growth has become better with the application of cloud migration tool thereby boosting the market growth. In 2019, Right scale survey analysed that 42% of workloads are run in public cloud and 38% in private cloud. Among enterprises, 35% of workloads run in public cloud and 44% in private cloud. ?????? ?????? Cloud Migration Tool Market?

Cloud Migration Tool Marketnbsp;Segment Analysis – By Geography

North America holds the highest market share of the Cloud migration tool market in 2020 at 36.5%. This is due to the technological development, improved industrial infrastructure, presence of large number of data centres and a higher rate of adoption of new technologies in the region. Moreover Cloud migration tool market in APAC is expected to grow at highest rate during the forecast period owing to the rising adoption of cloud based services, IOT devices, big data analytics research and development activities across different end user verticals. Consequently, shifting the workloads to cloud by small, medium and large organization in order to improve the efficiency and productivity of business is boosting the market growth of cloud migration tool. In December 2019, 5Nine was acquired by Singapore’s Acronis for unifying cloud management and security tools to enhance customer experience. Moreover this acquisition provides easier migration of workloads to Acronis Cyber Infrastructure.?

Cloud Migration Tool Marketnbsp;Drivers

Digital transformation

Digital transformation is accelerating the market growth, marketing strategies, improving customer experiences propels the migration of organizations towards cloud infrastructure. The increasing demand for technology services and increasing investments from major companies are also influencing the growth of the market. In May 2019, Velostrata was bought by Google. This acquisition is a way of making easier cloud migration of enterprises. In January 2020, $200 million was invested by AvePoint for expansion of Microsoft governance tools market. ?????? ?????? Cloud Migration Tool Market?

Growing adoption of IOT devices

The Internet of Things (IOT) links devices with other devices and humans for gathering, analysing and acting on data in a number of ways. With the expansion of IOT and adoption of IOT devices the IOT results in heavy dependence of IOT on cloud infrastructures for processing, storing, and analysing the huge volumes of data apprehended by sensors, trackers, and monitoring devices in a wide variety of settings.?Digitization and increasing globalization lead to more mergers, acquisitions, and divestments. For this reason, it is crucial to have a single platform on which all data can be universally managed and easily consolidated and hence there is a growing demand among the enterprises to streamline business processes.

Cloud Migration Tool Marketnbsp;Challenges

Architectural complexity

There are problems with the alignment of cloud strategy of organizations with the overall IT strategy. A hybrid cloud environment is created by blending together public and private cloud with on premise assets while migration of the workloads to the cloud infrastructure. This hybrid environment becomes complex and difficult to manage if there is lack of proper planning and vision. Consequently, inconsistencies and interoperability problems arises between different systems thereby hindering the market growth.?

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Cloud Migration Tool Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Cloud migration tool market. Cloud migration tool driver market is expected to be dominated by major companies such as Amazon.com, Cisco Systems, IBM, Microsoft, VMware, Dell, HCL Technologies, Accenture PLC, Wipro Ltd., NTT DATA Inc. and among others.

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Acquisitions/Technology Launches/Partnerships

• In May 2021, IBM unveiled AI-driven products across its portfolio of enterprise platforms. Mono2Micro, a new capability in WebSphere, taps AI to streamline cloud app migration. Watson Orchestrate helps automate work in business tools from Salesforce, SAP, and Workday.
• In July 2019, Alfresco Migration Service was launched by Alfresco Software to provide organizations move off outdated, legacy platforms, while vindicating the risk of migration of content to the cloud.

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