Cloud office migration tool market on a global scenario was valued at US$ 650.4 Mn in 2018; it is expected to grow at a CAGR of 17.8% during the forecast period, to reach US$ 2,753.8 Mn by 2027.
As the popularity of cloud-based solutions is growing across different industries, companies are strategizing regarding migrating their server workloads to a cloud environment. The popularity of cloud-based solutions across various regions is growing due to the increasing focus of companies toward achieving scalability and greater flexibility while keeping operational costs low. Cloud office migration tools help companies in the efficient migration of server workloads to the cloud environment. Therefore, with the growing popularity of cloud solutions, there is increasing demand for cloud office migration tools.
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Several organizations worldwide are seeking ways to reduce costs while driving competitive differentiation through greater business agility. To construct a reliable application that continues to provide significant performance globally, an organization would require a data center or, at least, involve in contract discussions with numerous different data center providers worldwide. They must have the competence to scale as demand increases as well as handle fluctuating demands. This arrangement results in high costs and time. The benefits delivered by cloud office migration, such as enhanced IT management, increased mobility, collective IT insight, larger talent pool, and easier mergers & acquisitions, among others, are propelling the adoption of cloud office migration tools by several organizations globally.
The cloud office migration tool market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. North America holds the largest market share owing to the strong cloud infrastructure and cloud imitates by the government to support the adoption of cloud-based solutions. Europe and APAC hold the most significant market share after North America.
The governments of North American countries are focusing toward increasing the IT budgets due to the presence of outdated IT infrastructure. The US is known as the Silicon Valley of the IT world; the country has the presence of Fortune 500 IT companies, which are making huge investments in the development of products and solutions by adopting advanced and innovative technologies. The governments are maximizing their digital investments by strategically leveraging new technologies, as well as data and advanced analytics, for optimizing policies and programs, and updating their legacy systems.
North American countries are witnessing high adoption of digital transformation in a wide variety of industry verticals such as BFSI, healthcare, retail, and IT & Telecom. Also, one of the biggest advantage with the advanced and developed countries is the strong exposure and awareness about emerging technologies in the market. Awareness about the advantages of the new technologies encourages companies in different verticals to adopt technologies and make further advancements in technologies currently used by the company.
The global cloud office migration tools market is competitive with the presence of a large number of players operating in the market. Some of the notable players in the global cloud office migration tools market include AvePoint, Inc., Binarytree.com Inc., BitTitan, Inc., CodeTwo sp. z o.o. sp. k., Proventeq Limited, Quadrotech Solutions AG, Quest Software Inc., Sharegate Group Inc., Simflofy, and SkyKick Inc., among others.
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