Database Migration Service Market - 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 Services Type (Managed services, Professional services) By Deployment Model (On-premises, Cloud) By Organization Size (Small and Medium-sized Enterprises (SMEs), Large enterprises) By Industry Vertical - Growth, Share, Opportunities & Competitive Analysis, 2016 – 2028

Market Introduction of Database Migration Service Market

It may easily and securely transfer databases to AWS using the Database Migration Service (AWS DMS). Applications that rely on the source database experience the least downtime during the migration because the source database is still fully functional. A collection of procedures known as cloud migration aid end users in moving their company operations, procedures, and applications to cloud infrastructure or a cloud computing environment. Migration typically involves moving one's outdated IT infrastructure to a public cloud environment. Many sectors, like BFSI and healthcare, prefer private or hybrid cloud migration solutions due to their high protection level. 

What is the Market Size of Database Migration Service Equipment in terms of value?

The equipment used in database migration services is expected to see significant CAGR growth over the coming years, at XX percent. According to estimates, the market for Database Migration Service equipment would be valued at USD XX billion in 2021 and USD XX billion in 2028. The top industry participants expect that between 2022 and 2028, the demand for Database Migration Service equipment will increase dramatically during the coming years, with a potential revenue potential of USD XX billion.  

Which is the Key Deployment model segment in the Database Migration Service Equipment Market?

The cloud segment registered a revenue share of over 55.0% of the total Database Migration Service equipment in 2021. Because cloud-based data transfer solutions are inexpensive and simple to use, the cloud-based sector is anticipated to expand at the CAGR throughout the anticipated period. Data, apps, and any other crucial business components can be moved from the on-premise data center to cloud or from cloud to another using cloud-based data migration tools. The best options for managing a huge volume of data are cloud-based data migration systems. Additionally, it offers advantages like auto-update capabilities, scalability, flexibility, vast storage capacity, and 24/7 availability. These solutions work well for controlling infrastructure and security. In addition, low maintenance costs and little physical setup are required for cloud-based data migration solutions.

Interesting Facts about Database Migration Service Equipment Industry

• The top countries in the Database Migration Service equipment market are the US, Canada, China, Germany, India, and Japan.
• Increased adoption of new and cutting-edge technology, particularly in developing economies, and growing public awareness of the advantages of cloud management services and solutions across the globe are the major factors driving the market's growth.
• Lack of technical expertise in underdeveloped and poorer regions and growing privacy and security worries are projected to hinder the growth of the Database Migration Service equipment market over the forecast period. 
• In terms of volume and value, the North American region dominated the global market for Database Migration Service equipment in 2021, and it is anticipated to maintain this position of strength over the forecast period.
• The banking, Financial Services, and Insurance (BFSI) technique will witness high growth during the forecast period.
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Who are the Top players/companies in the Database Migration Service equipment market in terms of value?

The key players in the global Database Migration Service equipment market in terms of value include Scribe Software (US), IBM (US), AWS (US), Oracle (US), Microsoft (US), SAP (Germany), Informatica (US), SAS Institute (US), Talend (US), Information Builders (US), Attunity (US), and Syncsort (US). To increase the quality of their manufacturing of Database Migration Service equipment and capture a competitive market share on a global scale, these major companies are focusing on new product advancements as well as technical innovation. A few regional and national firms are also making significant investments to diversify their product offerings. In February 2020, Amazon Web Services, Inc. announced that 3M Company would move its enterprise IT infrastructure to AWS. As part of its IT transformation initiative, 3M is moving its enterprise resource planning (ERP) system, which includes business-critical enterprise IT applications for accounting, supply chain management, product lifecycle management, manufacturing, and e-commerce, to the top cloud provider in the world.

Who are the Top 10 Countries in the Database Migration Service Equipment Market?

In the global Database Migration Service equipment market, the major countries are China, the U.S., The major countries in global Database Migration Service equipment market are China, the U.S., India, Canada, the U.K., Germany, France, South Korea, Mexico, and Japan. The United States will hold a sizable volume share of the global market for Database Migration Service equipment in 2021. Due to the existence of huge corporations, superior technological know-how, and the adoption of the most recent technology. In addition, it is anticipated that the South Asian and South East Asian equipment market for database migration services will expand significantly during the next few years.

Which is the key Industry Vertical used in the Database Migration Service Equipment Market?

The Banking, Financial Services, and Insurance (BFSI) category dominated the Database Migration Service equipment market in 2021. Because cloud solutions provide advantages like flexibility, agility, and integration of cutting-edge technologies and the FinTech ecosystems, banking and financial businesses are increasingly quickening their migration toward them. Banks are reducing costs by using cloud solutions since they drastically reduce infrastructure expenditures. As a result, many vendors offer IaaS and PaaS solutions to do away with the requirement to manage, host, maintain, upgrade, and scale service operations aimed at the BFSI sectors. In addition, banks are increasingly realizing how cloud infrastructure can support their broad modernization projects, such as customer-facing and operational AI, blockchain, and software container programs.

 In a statement, Bank of America said that Microsoft would be a component of its plan to move 80 percent of its technological workloads on virtual platforms, advancing its drive to dominate the financial services industry in digital innovation. Following a quick advancement in security technologies, BoA indicated that it would devote a larger portion of its USD 3 billion annual computer infrastructure expenditure to the public cloud. Throughout the projected period, this is anticipated to impact market growth significantly. Additionally, HSBC emphasized its tight collaboration with Google to establish a secure path to the cloud and guarantee future seamless migrations. Regarding machine learning and data analytics, HSBC wants to focus on the cloud first (MI).

What are the Major Driving Factors for Database Migration Service Equipment Market?

The growing demand for self-driving cloud databases, particularly in new industries, will be a key market growth driver. Increased adoption of new and cutting-edge technology, particularly in developing economies, growing public awareness of the advantages of cloud management services and solutions, and the expansion of the IT sector in emerging markets like China and India will all contribute to the market's continued growth. Other factors supporting the market's expansion include the increasing adoption of cloud migration solutions by different industries, the rapid spread of high-speed internet, and an increase in the number of research and development capabilities among the leading competitors will further enhance the market demand over the forecast period.

What are the Major Restraints for Database Migration Service Equipment Market?

The main factors that are expected to limit the growth of the global database migration service market include Industry growth will be hampered by a lack of technical expertise in underdeveloped and poorer regions, as well as growing privacy and security worries. Additionally, the different regional authorities' strict data laws and regulations will once more restrain industry growth. Poor infrastructure in developing nations will also slow the market's growth rate.

Which Region Dominated the World Database Migration Service Equipment Market?

In 2021, North America dominated the global Database Migration Service equipment market and led the market for cloud migration services. Due to the existence of huge corporations, superior technological know-how, and the adoption of the most recent technology, North America has the largest usage of cloud migration services. Europe is making progress in moving workloads to the cloud environment, enabling quick business insights and data processing. As many large corporations are anticipated to take advantage of strong growth prospects to increase their market share in these regions, APAC, MEA, and Latin America are likely to register significant growth rates in cloud migration services. These areas' SMEs are moving their solutions to the cloud to boost efficiency and productivity and drive business success after realizing the advantages of cloud computing. 

Segmentation of Global Database Migration Service Equipment Market-

Global Database Migration Service Equipment Market – By Data Type

• Customer data
• Product data
• Financial data
• Compliance data
• Supplier data
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Global Database Migration Service Equipment Market –By Business Function

• Marketing
• Sales
• Finance
• Legal
• Operations
• Human Resources (HR)
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Global Database Migration Service Equipment Market –By Services Type

• Managed servic
• Professional services
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Global Database Migration Service Equipment Market –By Deployment Model

• On-premises
• Cloud
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Global Database Migration Service Equipment Market –By Organization Size

• Small and Medium-sized Enterprises (SMEs)
• Large enterprises
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Global Database Migration Service Equipment Market –By Industry Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Retail and consumer goods
• Government and defense
• Healthcare and life sciences
• Manufacturing
• Telecommunications and IT
• Energy and utilities
• Media and entertainment
• Others (transportation and logistics, travel and hospitality, and academic and research)
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Global Database Migration Service Equipment Market – By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-east Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa