LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global cloud migration services market to grow at a CAGR of approximately 23% during the period 2018-2022, according to their latest report.
The adoption of container-as-a-service solutions is one of the major trends being witnessed in the market. The modern cloud computing and virtualization systems are highly distributed by the invention of a better and lightweight distributed application packaging toolkit over the cloud environment, called the container technology. Cloud containers feature the management of applications with migration, replication, relocation, upgrading, and the easy plug-and-play ability in real time.
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In this report, Technavio analysts highlight the increasing adoption of cloud computing as a key factor contributing to the growth of the global cloud migration services market:
Increasing adoption of cloud computing
The emergence of cost-effective IT solutions such as cloud computing has helped in reducing the total cost of ownership (TCO) for businesses. Previously, the adoption rate of on-premises software solutions to manage operational activities was low due to their limited IT budgets. Gradually, the top executives of organizations have started investing in advanced IT solutions such as analytics, IoT, enterprise systems, and other IT solutions through cloud computing deployment model.
According to a senior analyst at Technavio for IT professional services, “Affordability and convenience are the major reasons for the adoption of advanced IT solutions among organizations through the cloud computing platform. The leading vendors in the market are currently targeting the cloud computing segment because of the enormous opportunities available in the cloud computing market.”
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Cloud migration services - market segmentation
This market research report segments the global cloud migration services market by deployment (public cloud, private cloud, and hybrid cloud) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas led the global cloud migration services market in 2017, accounting for a market share of around 44%. It was followed by EMEA and APAC. The APAC region is expected to post the fastest growth during the forecast period.
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