The Global data migration market outlook to 2022 is published in this research. It estimates the growth rate during this period to be 17.5% Compound Annual Growth Rate (CAGR) and the market is expected to be worth $11.49 Billion by 2022.
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The data migration ecosystem comprises vendors, such as IBM (US), Oracle (US), AWS (US), Microsoft (US), SAS Institute (US), SAP (Germany), Informatica (US), Information Builders (US), Talend (US), Attunity (US), Scribe Software (US), and Syncsort (US).
The other stakeholders of the data migration market include data migration tool vendors, system integrators, cloud service providers, value-added resellers, data migration managed service providers, technology providers, and consultants/advisory firms.
Data Migration Key Target Audience
- Service providers and distributors
- Data migration application builders
- Independent Software Vendors (ISVs)
Data migration market report gives itemized bits of knowledge into the worldwide data migration advertise, which is sectioned by data sort, business work, segment, sending model, association measure, industry vertical, and locale. Among data sorts, the client data sort is required to keep on dominating the market amid the gauge time frame with developing need to keep up client data for enhancing main concern execution through better client engagement.
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The significant development drivers of the market incorporate expanding business data volumes, advancing administrative scene, and need to keep up the inheritance data. The base year considered for this report is 2016 and the market gauge period is 2017– 2022.
The budgetary data sort section is relied upon to develop at the quickest CAGR with the developing significance of migration process among keeping money and other monetary organizations with the requirement for better administration of data and at last, heritage frameworks. Among the business capacities, the promoting portion is required to rule the data migration market as the usage of data migration arrangements is expanding to pick up a 360-degree perspective of the data, which help them to plan their showcasing techniques as per their objective gathering.
(HR) business work is required to witness the most astounding development rate as HR faculty hopes to unite the accessible data to start data investigation.
In the component segment, the data migration software segment is expected to have the larger market share during the forecast period. The demand for data migration software is rising, as organizations need data migration to manage increasing data volume to enhance productivity and maintain business continuity.
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Among deployment models, the cloud deployment model is expected to witness the highest CAGR during the forecast period owing to its cost effectiveness, scalability, and ease of deployment. The large enterprises segment is expected to dominate the data migration market in terms of market share as these enterprises are keenly focusing on efficient data management to drive business growth.
However, the Small and Medium-sized Enterprises (SMEs) segment is expected to exhibit a higher CAGR, owing to the easy availability and scalability of cloud-based deployments.
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The Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to have the largest market size during the forecast period. This industry is exhibiting new growth opportunities coupled with rapid digital initiatives and stringent regulatory compliances.
Additionally, it helps in cutting excessive costs while providing improved agility and scalability, overcoming the operational challenges. The retail and consumer goods vertical is expected to witness the highest CAGR during the forecast period owing to the need for consolidation of customer data generated across various touchpoints during customer life cycle.
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