Data Migration Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2480 | Last Updated On: Sep 02 2022 | Available Formats

> Global Data Migration Market Expected to reach a high CAGR of 20.6% By 2029: DataM Intelligence

Global Data Migration Market is segmented By Data Type (Customer Data, Product Data, Financial Data, Compliance Data, Supplier Data), By Business Function (Marketing, Sales, Finance, Legal, Operations, Human Resources (HR)), By Component (Software, Services), By Deployment Model (On-premises, Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large enterprises), By Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Retail and Consumer Goods, Government and Defence, Healthcare and Life Sciences, Manufacturing, Telecommunications and IT, Energy and Utilities, Media and Entertainment, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[178 Pages Report] The Global Data Migration Market is expected to grow at a high CAGR of 20.6% during the forecasting period (2022-2029).

Data Migration Market - Strategic Insights

Metrics

Details

Market CAGR

 20.6%

Segments Covered

By Data Type, By Business Function, By Component, By Deployment Model, By Organization Size, By Industry Vertical and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Data migration is the process of selecting, preparing, extracting, and moving the data from one location to another, one format to another, or one application to another.

Market Dynamics

The market is driven by the increasing launch of data migration software and services across the world and the rising demand for data migration to accommodate the changing need of enterprises

For instance, in March 2020, Komprise had launched an elastic data migration, a new application aimed at quickly migrating data between on-premises and multiple cloud infrastructures. The elastic data migration can be purchased as a stand-alone technology, its real power is in being included at no charge with Komprise's Intelligent Data Management. It makes an easy for solution providers to analyze the data before migrating.

In August 2019, FTI Consulting had launched new services for its RelativityOne Data Migration product. RelativityOne Data Migration Services is aimed at law firms, corporations, and government agencies, assisting them as they plan and manage data transfer from other e-discovery applications to the RelativityOne platform.

The market is witnessing technological advancements such as artificial intelligence (AI), the internet of things (IoT), big data technologies, and other technologies for the development of data migration software, and services. For instance, in May 2021, IBM announced AI and Hybrid cloud technology for faster digitization and launched three new AI products across its enterprise platforms that would help in cloud app migration, automate work in business tools, and curate data cost-effectively.

However, the high cost and slow data transfer associated with the use of data migration services and software shall hinder the market growth. It has been observed that data migration creates redundant data in the target system. The redundant data leads to the development of the operational issue in businesses. Several sematic risks are associated with the data conversion and data extraction process. These risks change the meaning of data entirely in the target system.

COVID-19 Impact Analysis

Although the COVID-19 pandemic has disrupted the manufacturing and supply chain management of the market and, in general, has negatively affected the global economy but it has had a positive impact as far as the transition to cloud-based data migration is concerned. The pandemic forced the companies to shift to cloud services which led to the growth of the cloud-based data migration segment. Although the well-established companies transitioned quickly and easily, others faced difficulties. The pandemic accelerated the pace of the shift. For example, according to Synergy Research showed that enterprise spending on cloud infrastructure reached $65 billion in the third quarter of 2020, up 28% from the third quarter of 2019 and up 3% from what analysts expected before the pandemic hit, adding around $1.5 billion of spending for that quarter alone. As per the reports of Spiceworks Ziff Davis, a business-to-business tech marketplace, the hardware spending had been steadily dropping, from 35% in 2019 to an expected 31% in 2021, with cloud spending increasing every year, from 21% to an expected 24% in 2021.

Segment Analysis

The data migration market is segmented based on the deployment model as the on-premise and cloud-based

The cloud-based segment is expected to grow at the highest CAGR during the forecasted period due to the cost-effectiveness and easy availability of the cloud-based data migration solutions. There is increasing usage of cloud-based data migration solutions in various industries such as banking, financial services, and insurance (BFSI), healthcare, retail, government, IT and telecommunication, manufacturing, others. The cloud-based data migration solutions allow the transfer of the data, applications, and all essential business elements from the on-premise data center to the cloud, or from one cloud to another. Cloud-based data migration solutions are the most effective solutions for handling a large amount of data. It also provides other benefits such as scalability, flexibility, large storage space, 24/7 availability, and auto-update features. These solutions are effective in managing security, and infrastructure. Cloud-based data migration solutions require low maintenance costs and less physical setup. It is easy to access cloud-based data migration solutions from anywhere and anytime. In June 2021, Wipro Limited, a leading global information technology, consulting, and business process services company, announced that it is collaborating with Oracle to launch Wipro Zero Cost Transformation, a new offering that helps organizations migrate to the cloud.

The data migration market is also classified based on the industry verticals as the banking, financial services, and insurance (BFSI), retail and consumer goods, government and defence, healthcare and life sciences, manufacturing, telecommunications and IT, energy and utilities, media and entertainment, and others

The telecommunications and IT segment accounted for the highest market share in 2019. There is growing usage of the data migration software and services for handling the tackle issues including security, corporate restructuring, and open standard-based interfaces. These software and services increase storage needs. Telecommunications provide lucrative opportunities for data migration with the increasing deployment of 5G technology worldwide. The huge data consumption due to the implementation of 5G technology shall increase the demand for data migration over the forecasted period. For example, in July 2019, Vodafone Company launched a 5G service in seven cities of the United Kingdom and more than 20 cities of Europe to establish 120 base stations and telecom towers in 2019. As of March 2021, Vodafone Group PLC and its subsidiaries have the largest 5G presence in Europe.

Geographical Presentation

By region, the data migration market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa

Among all of the regions, North America dominated the data migration market due to the high usage of the data migration for accommodating the changing need of the enterprises. The data migration is improving the performance and competitiveness of the enterprises. There is a shift in the preferences towards cloud-based computing. There is increasing adoption of advanced data migration technology by several enterprises. There is the presence of a large number of companies providing data migration services and software. Several cost-effective data management software and services are available in the market. The growing generation of the large data volume in several industries shall boost the demand for data migration over the forecasted period.

Asia-Pacific is expected to witness positive market growth due to the growing application of database migration, and storage migration in small and medium enterprises. The data migration eliminates the wasteful data, improves the security of valuable data, and reconcile database for better use. Several enterprises are adopting data migration to secure data integrity. There is a growing need to migrate the data either to other databases or clouds. The increasing penetration of the Internet of things in the manufacturing industries is creating new opportunities for the data migration market. For example, The Indian Public Cloud services market revenue reached $3.6 billion for 2020 and is set to reach $9.5 billion by 2025 and grow at a CAGR of 21.5 per cent, according to a new IDC report.

Competitive Analysis

The Data Migration market is highly competitive with the presence of several international and local market players. The product diversification, technological advancement, revenue generation, and opportunities intensify the market competition. Oracle, IBM, AWS, Microsoft, Informatica, Syncsort, Talend, Attunity, and Information Builders are the leading market players with significant market share.

Companies are using data migration services & software launches, technological advancement, new product development, capacity utilization, and market expansion strategies for holding their position in the market. For instance, in February 2019, Qumulo, the pioneer of hybrid cloud storage had launched the data migration service. Qumulo’s data migration service provides a complete data migration solution including project management and execution, best-of-breed software, and servers that make the data migration process simple and worry-free. This new service manages the entire data migration process from planning to execution and validation so that users can focus on their business, not their storage.

The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for Data Migration and their expansion across the globe. For instance, in June 2020, Alation had entered into a collaboration with Databricks for data discovery and cloud data migration. The new integration would provide the data teams with a platform to identify and govern cloud data lakes, discover and leverage the best data for data science and analytics, and collaborate on data to deliver high-quality predictive models and business insights. The Alation enables data teams to prioritize data for migration to the cloud.

In February 2020, Google had acquired the data migration company, i.e., Alooma in the latest cloud push. Alooma would help the enterprise companies streamline database migration in the cloud with a tool that enables moving data from multiple sources to a single data warehouse.

Oracle

Overview: Oracle is a computer technology corporation headquartered in Austin, Texas, and provides IT infrastructure, server, and storage systems for businesses.

Product Portfolio: The company’s products include database software and technology, cloud-engineered systems, and enterprise software products.

Key Developments: On November 18, 2020, Oracle announced that it has entered into an agreement to acquire Nor1. The acquisition extends Oracle Hospitality’s OPERA Cloud Suite by adding Nor1’s merchandising platform that enables hotels to provide personalized offers throughout the guest journey using artificial intelligence & machine learning, as mentioned on the official Oracle website.

Why Purchase the Report?

  • Visualize the composition of the data migration market products in terms of data type, business function, component, deployment model, organization size, and industrial vertical highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the data migration market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of global data migration market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

**The global data migration market report will provide access to approximately 53 Market data tables, 44 figures, and 178 pages

Target Audience

  • Industry Investors/Investment Bankers
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  • Education and Research Institutes
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