Global Cloud Migration Service Market Size and Trends

Global cloud migration service market size is estimated to be valued at US$ 6.84 Bn in 2023 and is expected to reach US$ 24.51 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 20% from 2023 to 2030. Cloud migration services help enterprises to move their data, applications, and other business elements from on-premise infrastructure to the cloud. The key benefits include reduced costs, faster deployment, scalability, and higher efficiency.

The market is driven by factors like increasing cloud adoption, need for agility and automation, and rising digitalization across industries. The market is segmented into component,, deployment, enterprise size, end-use industry, and region. By deployment segment accounted for the largest share as it helps ensure seamless operations during and after migration.

Figure 1. Global Cloud Migration Service Market Share (%), By Region, 2023

Global Cloud Migration Service Market Trends:

Multi-cloud and hybrid cloud adoption: Enterprises are increasingly adopting multi-cloud and hybrid cloud models to avoid vendor lock-in, optimize costs, and match workload requirements. Service providers are enhancing their capabilities to migrate and manage workloads across different public clouds and on-premise environments.
Security-first migration approach: Robust security is a critical priority for enterprises during cloud migrations to avoid data breaches and threats. Service providers are taking a security-first approach spanning assessment, encryption, identity management, firewalls, and others. Zero-trust principles, micro segmentation and cloud security posture management are key focus areas.
Cloud-native application development: Migrating legacy applications to cloud-native architectures allows enterprises to maximize cloud benefits like scalability and resilience. Service providers are modernizing migrated applications to cloud-native, micro services-based designs on containers and server less platforms. In May 2023, Google, a Technology company launched a new migration program for cloud customers, that is aimed at accelerate the speed.
Cloud managed services for optimization: Enterprises are looking beyond just migration to optimize cloud environments for cost savings, security, and performance. This is driving demand for ongoing managed services like monitoring, automation, orchestration, and cloud infrastructure management after migration.