Global Public Cloud Migration Market – Industry Trends and Forecast to 2029

Global Public Cloud Migration Market, By Enterprise Size (Small and Medium Enterprises (SMEs), Large Enterprises), Type of Service (PaaS, IaaS, SaaS), End-User (BFSI, Healthcare, Retail, Government, IT and Telecommunication, Manufacturing, Others) – Industry Trends and Forecast to 2029.

Public Cloud Migration Market Analysis and Size

The hybrid cloud migration has seen a significant overall increase in recent years. Employing a hybrid cloud enables businesses to extend computer resources and reduces the requirement for significant capital to manage transient surges in demand. Many cloud providers offer the option to easily extend infrastructure in numerous global locations, allowing a business to quickly enter new markets. According to the RightScale 2019 State of the Cloud Survey Report, 58 percent of businesses have a hybrid multi-cloud strategy, while 84 percent of businesses have a plan for multiple public or private clouds.

Global public cloud migration market was valued at USD 215.89 million in 2021 and is expected to reach USD 1127.36 million by 2029, registering a CAGR of 22.95% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Public Cloud Migration Market Scope and Segmentation

Market Definition

The applications and databases can be transferred from an outdated, on-premises IT infrastructure to a public cloud with the use of cloud migration services. They consist of developing an operating cost optimization strategy, establishing monitoring systems, and sharing expertise with internal teams. In-depth process descriptions and continuous integration and deployment (CI/CD) pipeline designs are also included for speedy development. Today, businesses all over the world are using cloud migration services to increase agility, achieve flexibility and scalability, save operational expenses for their IT departments, shorten time to market, and speed up the digital transformation process.

Public Cloud Migration Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Burgeoning Usage across BFSI

The market has grown significantly over the past few years as a result of the features such as the flexibility, agility, and integration of emerging technologies and Intech ecosystems, banking and financial businesses are increasingly quickening their move toward cloud solutions. By drastically reducing the cost of infrastructure, cloud technologies are assisting banks in reducing expenses. As a result, many vendors now offer IaaS and PaaS software to take the management burden out of hosting, maintaining, updating, and scaling service operations geared at the BFSI industries. The ability of a cloud infrastructure to support banks' broad modernization projects, such as operational and customer-facing programmers powered by AI, block chain, and software containers, is now widely acknowledged.

• Increased Requirement for Automation and Agility

The end-users are looking for more intelligent techniques to guarantee the best possible resource use in the era of complex and diversified computing environments. This search adds new degrees of managerial complexity, which raises the demand for automation and flexibility. Organizations can achieve the right degrees of automation and agility through the use of public cloud migration services. Businesses feel they must be more adaptable and nimble than their current virtualization strategy, which may be readily accomplished by moving the current workload to the cloud. The main motivator for cloud migration is anticipated to be business agility on the cloud. These services also give end users access to a variety of automation features, such as automated backup and recovery, auto-scaling, and auto-provisioning, that help them take advantage of the operational and financial advantages of cloud computing. Numerous advantages of using automation technologies include managing multiple cloud deployments, enabling automatic recovery in emergency situations, and enhancing business continuity and disaster recovery. These services provide business agility across various cloud environments, enhancing enterprise service levels.

Furthermore, the factors such as rapid urbanization will accelerate the overall market expansion during the forecast period. Additionally, the advancements in technologies is anticipated to drive the growth rate of the public cloud migration market. The rowing disposable income will further positively impact the market's growth rate during the forecast period.

Opportunities

• Application Of Machine Learning And The Internet Of Things

The application of machine learning and the internet of things is expected to generate lucrative opportunities for the market, which further expand the future public cloud migration market's growth rate. The key aim for market players is to develop and increase the sensitivity of public cloud migrations. Consequently, it is anticipated that the market players will benefit from the integration of IoT sensors to detect shock waves.

• Surging Product Launches And Other Innovations

Additionally, the surging product launches and other innovations by market players further offer numerous growth opportunities within the market. Leading public cloud migration market companies offer the required measures to enhance public cloud migrations' quality, accuracy, and performance, offering more cutting-edge and security features.

Restraints/Challenges

• Concerns Regarding Vendor Lock-in

 Many SMEs and major corporations are using the CSPs' extensive migration services to move their on-premises workloads to the cloud. Enterprises only use the pre-selected vendors for certain protocols and products, despite the cost-saving advantages and efficiencies. Companies do not want to rely on a single vendor in this cutthroat business environment where everyone is looking to gain an advantage. This would make the move expensive and necessitate a multi-cloud infrastructure made up of several cloud vendors and internal systems.

• Issues Regarding the Complexities and Costs

Redesigning networks for cloud migration from on-premises demands significant upfront investments, which is challenging for SMEs with tight budgets and resources. Additionally, the majority of businesses have found the transition to cloud deployment to be expensive and complicated. For their cloud infrastructure arrangement, businesses must address a variety of concerns in addition to the network architecture. Gaining insight, gauging performance, and managing workloads across various cloud deployment architectures are very challenging tasks. Due to the deployment structure and techniques needed to construct and manage the cloud migration, complexity is the main challenge.

This public cloud migration market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the public cloud migration market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Public Cloud Migration Market

The public cloud migration market was largely impacted by the outbreak of COVID-19. Many CXOs are under pressure to advance digital technologies and approaches in the Covid-19 epidemic, where firms are dealing with operational difficulties. Among these, cloud migration has seen significant increase. Many large businesses and SME's have shifted their allegiance to cloud-savvy managed service providers (MSPs), who have sped up the migration process, scaled existing services, modernised legacy applications, enabled and orchestrated multi-cloud environments, and utilised a variety of cloud-native capabilities. Additionally, a lot of cloud service providers have unveiled a variety of alluring cloud migration tactics that specifically assist SME's in adopting these services easily and with little financial hardship, which is opening up a lot of market potential.

Recent Developments

• In February 2020, The 3M Company has moved its corporate IT infrastructure to AWS, according to an announcement from Amazon Web Services, Inc. 3M is moving its enterprise resource planning (ERP) system, which includes business-critical corporate IT applications for accounting, supply chain management, manufacturing, product lifecycle management, and e-commerce, to the top cloud in the world as part of its IT transformation strategy. Utilizing the breadth and depth of services offered by AWS, 3M will modernise its infrastructure and increase operational efficiency across all of its global operations.
• In April 2020, To enable organisations comprehensive WAN application integration with cloud workloads, Cisco is integrating its SD-WAN Cloud Hub with Google Cloud as companies increasingly adopt a hybrid and multi-cloud strategy to increase agility, scalability, and flexibility. The partners claim their platform would help enterprises to optimise application stacks by spreading application components to their optimum places.

Global Public Cloud Migration Market Scope

The public cloud migration market is segmented on the basis of enterprise size, type of service and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Enterprise Size

• Small and Medium Enterprises (SMEs)
• Large Enterprises

 Type of Service

• PaaS
• IaaS
• SaaS

 End-User

• BFSI
• Healthcare
• Retail
• Government
• IT and Telecommunication
• Manufacturing
• Others

Public Cloud Migration Market Regional Analysis/Insights

The public cloud migration market is analyzed and market size insights and trends are provided by country, enterprise size, type of service and end-user as referenced above.

The countries covered in the public cloud migration market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the public cloud migration market because of the presence of an advanced industrial landscape within the region over the forecast period of 2022 to 2029. Moreover, the e widespread incorporation of AI on numerous operational levels is further estimated to accelerate the expansion over the forecast period.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to steady demand across various end use industries within the region. The high adoption of cloud migration services is a significant contributor to the regional market expansion.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Public Cloud Migration Market Share Analysis

The public cloud migration market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to public cloud migration market.

Some of the major players operating in the public cloud migration market are

• Amazon Web Services, Inc. (U.S.)
• IBM (U.S.)
• Microsoft (U.S.)
• Cisco Systems Inc., (U.S.)
• NTT DATA Corporation (Japan)
• DXC Technology Company (U.S.)
• VMware, Inc (U.S.)
• RACKSPACE TECHNOLOGY (U.S.)
• Informatica (U.S.)
• IBM (U.S.)
• Microsoft (U.S.)
• Siemens (Germany)
• ANSYS, Inc (U.S.)
• SAP SE (Germany)
• Robert Bosch GmbH (Germany)
• NetApp (U.S.)
• Atos SE (U.S.)
• Fujitsu (Japan)
• CenturyLink (Louisiana)
• Hewlett Packard Enterprise Development LP (U.S.)
• Dell Inc., (U.S.)
• Oracle (U.S.)
• Google Inc., (U.S.)
• Atos SE (France)
• KELLTON TECH (India)