Dublin, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The "Global Cloud Migration Tool Market 2030 by Component, Deployment Model, Organization Size, Application, End-use Industry & Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The Cloud migration tool Market size is estimated to grow from USD 11.1 Billion in 2023 at a CAGR of 19.1% during the forecast period from 2023 to 2030.
Major players in the Cloud migration tool Market include Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), IBM, VMware, Dell, HCL Technologies, Accenture PLC, Wipro Ltd., NTT DATA Inc., Hewlett Packard Enterprise (HPE), Cisco, Rackspace Technology, Carbonite (OpenText), Nutanix and Others.
The expansion of the cloud migration tool market is primarily attributed to the surging demand for cloud services. The primary factors prompting the shift towards the cloud encompass scalability, enhanced performance, expedited deployment, accessibility for disaster recovery, heightened intrusion detection, and other pertinent aspects. Moreover, the progression of novel technologies like edge computing, IoT, electronic control units, and cloud storage is projected to create ample opportunities for propelling the growth of the cloud migration tool market.
The rising requirement for cloud migration tools stems from their swift connectivity, enabling the concurrent operation of multiple applications. The adoption of cloud integration is on the ascent across various organizations due to factors such as cost-effectiveness, obfuscation techniques, adept system emulation, and adaptable solutions, all of which are propelling market growth. E-commerce data integration yields notable enhancements in functionality and security provision, consequently saving time and enhancing productivity, thereby fostering market expansion.
Increasing adoption of cloud computing by businesses across various industries
The growth of the cloud migration tool market is propelled by the rising acceptance of cloud computing among businesses spanning diverse sectors. Cloud computing offers a multitude of advantages, such as scalability, economical operations, adaptability, and easy accessibility. As companies endeavor to modernize their IT framework and harness these benefits, there arises a necessity for dependable solutions that can streamline the migration process. This is precisely where cloud migration tools play a pivotal role.
The adoption of cloud technology empowers businesses to expedite the introduction of novel services and innovations. In this context, migration tools assume the task of expediting this progression by simplifying the transition of developmental and testing environments. Cloud platforms are equipped with robust mechanisms for disaster recovery. By leveraging migration tools, organizations can replicate and reinstate both data and applications in times of emergencies. Consequently, the demand for efficient, secure, and seamless migration of applications, data, and workloads to cloud environments fuels the cloud migration tool market's growth trajectory. As more enterprises come to realize the merits of cloud computing, the need for dependable migration tools is expected to burgeon, thereby significantly contributing to the market's expansion.
Growing adoption of IOT devices
The Internet of Things (IoT) establishes connections between devices and individuals, enabling the collection, analysis, and utilization of data through various means. As the IoT continues to expand and IoT devices become more prevalent, the reliance on cloud infrastructures for processing, storing, and analyzing vast amounts of data captured by sensors, trackers, and monitoring devices becomes substantial across diverse scenarios. The process of digitization and the increasing reach of globalization have resulted in heightened instances of mergers, acquisitions, and divestments. As a consequence, the need for a unified platform to universally manage, consolidate, and efficiently handle all data becomes paramount, driving an escalating demand among enterprises to optimize their business processes.
The Cloud migration tool Market research report provides an in-depth overview of the industry including market segmentation by Component, Deployment Model, Organization Size, Application, End-use Industry, and Region. Analysis of the global market with a special focus on high-growth applications in each vertical and fast-growing market segment. It includes a detailed competitive landscape with identification of the key players concerning each type of market, in-depth market share analysis with individual revenue, market shares, and top players' rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes.
Competitive intelligence from the company profiles, key player strategies, and game-changing developments such as new product launches, collaborations, expansions, investment analysis, mergers, and acquisitions. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.
The report further studies the market strategies of key players, recent development status, plans, and Cloud migration tool Market trends across the world. Also, it splits the market segmentation further to deep dive into research and reveals company profile and prospects.
Major Classifications are as follows:
By Component
- Software
- Hardware
- Service
By Deployment Model
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Large Enterprises
- SMEs
By Application
- Project Management
- Infrastructure Management
- Workforce Management
- Security & Compliance Management
- Others
By End-use Industry
- BFSI
- Healthcare
- IT & Telecommunications
- Government
- Retail
- Manufacturing
- Energy & Utilities
- Media and Entertainment
- Others
Company Profiles
- Amazon
- Microsoft Azure
- Google Cloud Platform
- IBM
- VMware
- Dell
- HCL Technologies
- Accenture
- Wipro
- NTT DATA
- Hewlett Packard Enterprise
- Cisco
- Rackspace Technolog0079
- Carbonite
- Nutanix
For more information about this report visit https://www.researchandmarkets.com/r/2x3qbo
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