According to research report "Data Migration Market by Data Type (Customer Data, Financial Data, Product Data), Business Function (Marketing, Sales, Finance), Component, Deployment, Organization Size, Industry Vertical, and Region - Global Forecast to 2022", The data migration market size is expected to grow from USD 5.14 Billion in 2017 to USD 11.49 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.5% during the forecast period.
Browse 84 Market Data Tables and 42 Figures spread through 157 Pages and in-depth TOC on "Data Migration Market - Global Forecast to 2022"Early buyers will receive 10% customization on reports.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=43739470The Banking, Financial Services, and Insurance (BFSI) vertical is expected to have the largest market share during the forecast periodAmong verticals, the Banking, Financial Services and Insurance (BFSI) sector is expected to continue to have the largest market share during the forecast period.
The major factors driving the data migration can be attributed to the provision of 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 cloud deployment model is expected to grow at a high CAGR during the forecast periodThe cloud deployment model is witnessing an increasing demand due to its cost-effectiveness and easy availability.
Cloud-based solutions require less physical setup, incur low maintenance costs, and provide 24/7 accessibility from anytime, anywhere.
The early adoption of new and emerging technologies and direct presence of data migration software and service providers in the region is expected to consolidate a majority of the revenues in the market.