Jan 13, 2020 2:10 AM ET
Global Data Migration Market Size is Estimated to Grow at CAGR of 18.37% During 2020-2025
iCrowd Newswire -
Jan 13, 2020
Global Data Migration Market size is expected to reach $10.98 billion by 2025, estimated to grow at a CAGR of 18.37% during 2020-2025.In recent time, enterprises are migrating to cloud based server from on premise physical server. Hence, Data migration has become an integral process in accommodating the changing need of the enterprises. In 2018, North America region accounts for majority of the cloud traffic globally. According to the Cisco Global Cloud Index, the cloud traffic in the region is poised to reach 7680 Exabyte by 2021, growing at CAGR of 24% during 2016-2021.Similarly, the development in advanced data migration technology, is bringing more transparency into data migration process and hence, the technology is widely getting accepted by many enterprises in recent time. Further the growing need for application migration, database migration, and storage migration in small and medium enterprises are likely to affect the market growth positively.
• North America dominates the data migration market
owing to rising preferences towards cloud based computing.
• The rising penetration IoT based devices in manufacturing industries, large volume of data generation in telecom sector are creating new opportunity for data migration market.
• Cloud based data migration is expected to accelerate the data migration market at a faster pace due to faster and low cost process.
• The risk of data integrity and data corruption acts as an inhibiting factor for data migration industry.
End User Type -Segment Analysis
Manufacturing and telecom sector are expected to provide fast pace growth to data migration market at a CAGR of 21% during 2020-2025. Rising adoption of IoT based equipment in industrial application are continuously increasing the data consumption in manufacturing industries. The Industrial IoT market is expected to reach $100 billion by 2025 growing at CAGR of 18.56% during 2020-2025. The rapid growth of Industrial IoT devices is expected to make the data migration services as one of the inevitable in manufacturing sector. Similarly, telecom sector is also expected to provide large growth opportunity for data migration market due to deployment of 5G technology worldwide. 5G services are expected to be commercialized on a large scale post 2020.The implementation of 5G technology is likely to create huge data consumption, which will impact thedata migration market positively during the forecast period.
Deployment Type – Segment Analysis
Cloud based deployment of data migration is expected to grow at CAGR of 20.45% during 2020-2025. The rising volume of data and the growing adoption of cloud based solutions by enterprises are making it more convenient for data migration service providers to offer data migration services through cloud. In 2019, approximately 80% of companies worldwide were using some form of cloud based services. Cloud computing market is expected to reach $375 billion by 2025, growing at a CAGR of 18.45% during 2020-2025. It is also expected that by 2020, 60% enterprise software will be cloud based across the globe. Similarly, the mobile data consumption worldwide grew at a CAGR of 40% during 2016-2021, owing to availability of high speed internet connectivity. Cloud based data migration will be the most effective and cost effective solution to handle such a large amount of data. Thus, cloud based deployment of data migration services and high rate of data consumption is likely to accelerate cloud based data migration services at a faster rate.
Geography- Segment Analysis
In recent time, the rising volume of data have been increasing the demand for data migration services. North America is the region, where data consumption is expected to rise by 200% during 2018-2022. The deployment of 5G network and the transition of small and medium enterprises towards cloud based solutions are playing the major role in the growth of data consumption. Hence, in 2018, North America dominated the data migration market with a market share of more than 31.22%, followed by APAC and Europe. In this region, several companies are introducing new data migration services for the businesses. In 2018, IBM Corporation launched new services for ease ofmigrating applications to cloud. The new service utilize multi-cloud and hybrid strategy to accelerate the business transformation. With the updated IBM Cloud Migration Factory, the data migration can be performed more conveniently. According to the Cisco Global Cloud Index, the cloud traffic in the region is poised to grow at a CAGR of 24% during 2016-2021 and will account for nearly 40% of the global traffic by 2020.This will also impact the growth of the data migration market in this region
Drivers –Data MigrationMarket
• Shifting preferences towards cloud based data management
Most of the industries and enterprises are replacing their physical server with cloud based server since 2016. The adoption of cloud computing enable enterprises to scale up and scale down their businesses more conveniently. Cloud based computing offer new business capabilities and opportunities for the businesses. Apple is spending more than $306 million on Amazon’s cloud every year. Similarly, in 2018 Amazon generated a revenue of approximately $25 billion from its AWS cloud computing services. With the growing demand for cloud based computing, most of the organization are migrating their data from on premise physical server to cloud. This leads to create enormous opportunity for data migration market.
• Availability of advanced solution for safe data migration activity
While database migration, application migration, and storage migration has become a challenging process to maintain data integrity during migration, vendors are introducing new data mapping solution that provides a seamless data migration experience for enterprises. The data migration service providers are implementing new and advanced tools such as cryptographic hash function and checksum to ensure high level of data integrity. Similarly, most of the service providers complete are offering solution to the end users starting from planning to data migration execution, that further making data migration technology more appealing for many businesses.
Challenges – Data Migration Market
• Risk of data integrity and data corruption
Data corruption is a major challenge experienced by many organization during data migration process due to format and content mismatch between legacy system and target system. In addition to this, data migration creates redundant data in the target system, which may create operational issue in businesses. Similarly, there are sematic risks involved during data conversion and data extraction process, which can change the meaning of data entirely in target system. In recent time, there are advanced software available which offer data validation tool to avoid these issue. However, it results in slow data transfer and also increases the cost.
Data Migration Top 10 companies include IBM, Oracle, AWS, Microsoft, SAP, Informatica, Information Builders, Talend, Attunity, Scribe Software, and Syncsort. The data migration marketshare is estimated to be approximately 35.32% in 2018 from top 5 players. Acquisition, partnership, andservice differentiation are the key strategies adopted by most of the companies in this market.
- In 2018, IBM Introduced new services to automate cloud migration. This new services have the ability to reduce the time in modernizing and movingthe organization’s, data, applications and workloads, and infrastructure.
- In 2018, IBM acquired Red hat, a software solution providers who has lot of expertise in the area of data migration and virtualization.
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