Cloud Office Migration Tool Market to 2027 – Global Analysis and Forecasts By Subscription (Monthly Subscription and Annual Subscription), Organizational Size
PUNE, INDIA, January 21, 2020 /EINPresswire.com/ — The global cloud office migration tool market was valued US$ 650.4 Mn in 2018 and is expected to reach US$ 2,753.8 Mn by 2027 with a CAGR growth rate of 17.8% in the forecast period from 2019 to 2027.
The global cloud office migration tool market is fragmented due to the presence of a significant number of companies operating in the market. Furthermore, the strong presence of emerging market players with limited geographic focus and notable customer based within the local market has further boosted the overall competitiveness existing in the market. Presently, a significant number of market players operating in the global cloud office migration tool market that offers numerous subscription-based cloud office migration tools to different industry verticals.
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Global Cloud office migration tool Market – Company Profiles
• AvePoint, Inc.
• Binarytree.com Inc.
• BitTitan, Inc.
• CodeTwo sp. z o.o. sp. k.
• Proventeq Limited
• Quadrotech Solutions AG
• Quest Software Inc.
• Sharegate Group Inc.
• SkyKick Inc.
Cloud office migration tool Market Insights
Increasing demand of cloud office migration tools by SMEs
Migrating workloads on the cloud can be very beneficial for SMEs as cloud-based services facilitate these enterprises to reduce costs as well as give them access to IT services. The use of cloud migration is becoming increasingly important in the business world. Digital connectivity is driving improved business outcomes as well as enabling SMEs to have easy access to cloud-based apps and software, thus enhancing their productivity and growth. Additionally, along with a reduction in costs, cloud-based solutions also offer scalability and agile infrastructure, which supports the growth during increased demands. Further, the growth of SMEs in emerging economies is another significant factor offering opportunities to the growth of the cloud office migration tool. The growth is attributed to supporting government initiatives for cloud adoption by SMEs in these economies. The rising inclination of SMEs towards cloud adoption offers lucrative growth opportunities to the players operating in the cloud office migration tool market.
Cloud office migration tool market in APAC is expected to grow at a significant CAGR
Increase in the adoption of cloud office migration tools is expected to accelerate the market in Asia Pacific region. Pertaining to the fact of better mobility, scalability, and easy integration of cloud office migration tools with the existing systems. The countries of Asia Pacific are working towards a common goal, which is sustainable and long-term economic growth through digitalization. Internet penetration is rising at a high pace throughout the region owing to various factors such as cost efficiencies, improvement in traffic control, and deregulation of rules with an aim to enhance the connectivity of the internet. Further, the rising trend for BYOD and internet users in the region is positively accelerating the need for advanced mobile and internet services leading to an increase adoption of cloud office migration tools.
Cloud office migration tool Market – Susbcription Insights
In the annual billing method, the customer pays for the service annually. The annual subscription is different from an annual contract. In this method of payment, the customer is locked into a recurring payment contract, which bills them every year automatically until and unless it is canceled. The annual subscription method has the following advantages, such as increased cash flow, lower churn rate, predictable revenue, and improved customer convenience. The annual subscription is witnessing a high demand from large enterprises and is expected to project high year-on-year growth during the forecast period.
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• Highlights key business priorities in order to assist companies to realign their business strategies.
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• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to subscription and organization size.
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Source: EIN Presswire