The surge in the acceptance of hybrid cloud solutions is propelling the worldwide demand for cloud migration services. The anticipated growth of the global cloud migration services market is driven by an increased need for business agility and a growing reliance on automation solutions. The rising demand for swift and uncomplicated application deployment through a pay-as-you-go approach, coupled with the expanding utilization of cloud-based migration in business operations, is expected to fuel market expansion. Notably, Fiserv, a global fintech and payment company, optimized its payment processing systems, leading to advantages such as risk reduction and cost efficiencies. Furthermore, The Bank of Angola set a precedent in the country by embracing modernization through cloud migration, aiming to enhance and innovate its infrastructure and processes.

The potential for growth in the cloud migration services market is evident in emerging nations like Africa, Brazil, China, and India, driven by their ongoing economic development and financial constraints. These countries, seeking cost-effective solutions, can benefit from the efficiency of cloud computing services, effectively reducing IT expenses. Cloud technology stands as a prime example of how contemporary solutions assist businesses, irrespective of size, in preparing for future success. During the projected period, the struggles of developing economies to establish a competitive edge are anticipated to create lucrative opportunities for the expansion of the cloud computing services market. Despite this potential, the cloud migration services market faces challenges, particularly in dealing with latency issues during data retrieval from public cloud infrastructure. The unpredictability of cloud network latency, influenced by factors like distributed computing and virtualization, poses obstacles as the environment expands. Separate networks and an overloaded wide-area network (WAN) can result in packet delays, potentially increasing costs and impeding the widespread adoption of cloud migration services.

Since the usage of the cloud ecosystem as a whole increased at that time, COVID-19 had a favourable effect on cloud computing as data storage and other cloud services. To comply with government work-from-home laws and social distancing rules, several organizations have moved to remote offices. Research on the effects of COVID-19 on small enterprises by the National Association of Business Economists found that 45% of both large and small businesses shifted to a part-time remote workforce. Inventory control, system integration, and contactless delivery are in high demand now that the epidemic has completely disrupted supply chains and logistics.

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; IBM Corporation, SAP SE, Google LLC, Capgemini, Amazon Web Services, Inc., Microsoft, Hewlett Packard Enterprise Development LP, Accenture, VMare, Inc., NTT DATA Americas, Inc., Tata Communications, Wipro, Kyndryl Inc., Vodafone Limited, Veritis Group Inc. 

By Service Model: Based on the Service Model, Global Cloud Migration Services are segmented as; Managed Services, Professional Services, Automation and integration, Disaster Recovery, Application hosting and monitoring, DevOps, Training and consulting, Support and maintenance, and others.

By Organization size: Based on the Organization size, Global Cloud Migration Services is segmented as; Large enterprises, small and medium enterprises.

By Applications: Based on the applications, Global Cloud Migration Services is segmented as; Project management, infrastructure management, security and compliance management, and others.

By Industrial Vertical: Based on the Industrial Vertical, Global Cloud Migration Services are segmented as BFSI Manufacturing, Healthcare and life sciences, IT and Telecommunications, Consumer goods and retail, Government and public sector, Media and entertainment, and others.

By Deployment mode: Based on the Deployment Mode, Global Cloud Migration Services is segmented as Public cloud, private cloud, hybrid cloud, and others

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.