Increased Adoption of Cloud Computing to Drive Growth in Cloud Migration Services

IT and manufacturing industries dominated the market in 2020.

Artem Adobe Stock 423257572
Artem AdobeStock_423257572

The global cloud migration services market is expected to reach $25.4 billion by 2027, with a CAGR of 24.3%, during the forecast period, according to DataM Intelligence Analysis.

North America is a matured market in terms of cloud adoption, due to various factors, such as standards, regulations, advanced IT infrastructure, the presence of a large number of enterprises and the availability of proficient technical expertise. Therefore, North America is expected to grow at a steady pace and maintain its dominant position in global market over the period. However, the Asia Pacific region is expected to witness a higher CAGR than other regions.

From DataM Intelligence Analysis:

  • Infrastructure management is projected to contribute greatly to the total market revenues in 2020 and is expected to rule the market during the forecast period.
  • IT and manufacturing industries dominated the market in 2020.
  • North America held the highest share in 2020, generating nearly more than 30% of the global cloud migration services market.