A new survey from Next Pathway revealed that, as confidence in the cloud increases in 2021, IT teams are started to make aggressive plans for migrating apps and data to the cloud.
Indeed, the study found out that 80% of enterprise IT respondents are planning to migrate 50 on-prem apps or more to the cloud in the next 12 months while 74% plan to migrate anywhere from 11 to 100 legacy warehouses to the cloud in the next 12 months.
Moreover, it was also discovered that IT budgets for cloud migration projects are substantial, with 45% of participants stated they plan to spend more than $5 million on legacy migrations. Only 10% of firms are planning to spend more than $40 million on cloud migration projects.
This huge movement towards the cloud can be explained by the need for organizations to innovate – offer better and more customized products, services, and customer experiences with optimized costs – and the need to stay relevant and competitive. Besides, the spread of the pandemic also affected many enterprises as they found themselves with no other choice but to implement a cloud solution.
Finally, the study demonstrated that we are still in the early steps for migration maturity as less than 18% of organizations have begun their first cloud migration project and less than 13% have begun to migrate any of their applications to the cloud.
