Monday, September 26, 2022

The Data Migration Market

Data migration is the process of changing the current location or condition of data.

It’s becoming increasingly important as companies look to keep up with data storage trends by moving their data to cloud computing infrastructure, including multicloud and hybrid cloud.

See below to learn all about the market of data migration:

See more: Top Cloud Migration Trends

Data Migration Market

The global data migration market is projected to grow to $11.49 billion in 2022 with a compound annual growth rate (CAGR) of 17.5%.

Geographic markets contribute varying degrees of growth to the data migration industry:

  • The U.S. is expected to maintain a growth rate of 19.3%.
  • Germany is expected to add $486 million to the industry in the next five to six years.
  • The rest of Europe is expected to contribute $613.8 worth of data migration projects.
  • China has the potential to grow at a rate of 17.6%.
  • China could add approximately $2.2 billion in projects over the next couple of years.

Industry-wise, data migration is used by companies and organizations in data-focused fields, such as:

  • Manufacturing
  • Automotive
  • Entertainment 
  • Health care

Data Migration Features

Data migration is complex and poses risks if done incorrectly. The typical data migration scenario is executed in five steps:

  • Data conversion
  • Data profiling
  • Data cleansing
  • Data validation
  • Ongoing data quality assurance — in the target system

Depending on the type of data to be transferred, its current location, and the target system, there are five types of data migration:

  • Data migration
  • Storage migration
  • Application migration
  • Data center migration
  • Business process migration

As for the method and strategy of migration, it can be done in one of two ways: trickle migration and big-bang migration.

Benefits of Data Migration

Data migration strategies allow companies to get all of their data and digital assets into a single, unified storage system, like a data lake or a cloud data warehouse.

It enables data analysts, architects, and engineers to access all of the data they need at once.

Other data migration benefits include:

  • Improving return on investment (ROI) by reducing media and storage costs
  • Ensuring comprehensive data integrity
  • Minimizing daily business operations disruption
  • Improving data security
  • Keeping up with data technology
  • Scaling resources to meet the growing and shrinking demands of business datasets

Benefits vary depending on the data migration method and the current condition of the data before a company moves it.

“The cloud offers an opportunity to protect data from cybersecurity attacks,” said Amnon Drori, a member of the Forbes Technology Council. “Additionally, data modernization needs of corporations involving data mining and accessibility are offered more readily via cloud-based solutions.”

Data Migration Use Cases

Companies in various industries have been using it in order to evolve their data management and computing operations by keeping up with the latest tech.

Netflix

One company that migrated its data smoothly to the cloud was Netflix. Its back-end client at the time was crumbling.

“At one point, we upgraded the machine to a fantastic $5 million box, and it crashed immediately because the extra capacity on the thread pools meant we ran out of connection pools more quickly,” says Neil Hunt, chief product officer at Netflix.

Migrating to the cloud was so smooth, Netflix users didn’t feel the shift. Over time, its new cloud infrastructure was able to expand to meet the growing demand of the service without a problem.

GameStop

Another company that migrated its data and operations to the cloud was GameStop. The transition was made in an effort to cut down on high operational costs due to poor-performing EDW systems. 

Working with Datametica, GameStop migrated to cloud storage as data lakes and BigQuery as enterprise data warehouse.

“We see Datametica as a reliable partner with the right skills and GCP expertise,” says Michael Jones, director of global data delivery at GameStop. “We didn’t have to explain everything, and they were an exceptional partner, especially given all the challenges that come with the migration of this size and scope.”

See more: Companies Doing Cloud Migration: Top Use Cases

Data Migration Providers

Some of the leading players in the data migration market include:

  • Deloitte
  • Cloudreach
  • AWS
  • TeraData
  • Hevo Data
  • Dell Technologies
  • SAP
  • Appnovation
  • Matillion
  • IBM

See more: Top Cloud Migration Tools & Companies

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