<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Alphabet’s GOOGL division Google is making every effort to fortify presence in the cloud market on the back of its strengthening cloud services offerings.
The company’s latest move of introducing a software service, Transfer Service, in a bid to make data shifting to cloud easier and seamless is a testament to the same.
The new service is a managed solution that aids in transfer of data from on-premise systems to the cloud without software customization or investing in an off-the-shelf solution. Notably, Transfer Service is currently in beta stage.
We believe the service is likely to drive Google Cloud’s momentum across enterprises, which in turn will strengthen customer base.
Businesses are expected to benefit significantly in their large-scale data transfers online by using Transfer Service.
Intensifying Competition
With the aid of this new service, Google intends to capitalize on the burgeoning need for cloud computing solutions among businesses worldwide, due to the enormous amount of data generated by them.
Per a report from Mordor Intelligence, the global cloud migration space is expected to witness a CAGR of 28.89% between 2019 and 2024.
Accessibility to the on-premise data is playing a significant role in driving growth in this particular market.
Apart from Google other tech giants like Amazon AMZN, Microsoft MSFT and International Business Machines IBM are also leaving no stone unturned to bolster presence in this space.
Amazon Web Services (AWS) offers AWS DataSync, which aids in moving data between on-premises storage and Amazon S3 or Amazon Elastic File System. Further, the service reduces burden on IT operations and prevents data migration process from slowdown.
Further, IBM’s Aspera helps in secured migration of multiple large files and folders from any on-premises data center to any major cloud computing platform.
Meanwhile, Microsoft Azure provides a physical device called Data Box Edge and a virtual device namely Data Box Gateway, which run on-premises and helps in connecting to Azure over network. Additionally, Azure Data Factory aids in transferring and managing files between several Azure services and on-premise infrastructure.” data-reactid=”11″>Alphabet’s GOOGL division Google is making every effort to fortify presence in the cloud market on the back of its strengthening cloud services offerings.
The company’s latest move of introducing a software service, Transfer Service, in a bid to make data shifting to cloud easier and seamless is a testament to the same.
The new service is a managed solution that aids in transfer of data from on-premise systems to the cloud without software customization or investing in an off-the-shelf solution. Notably, Transfer Service is currently in beta stage.
We believe the service is likely to drive Google Cloud’s momentum across enterprises, which in turn will strengthen customer base.
Businesses are expected to benefit significantly in their large-scale data transfers online by using Transfer Service.
Intensifying Competition
With the aid of this new service, Google intends to capitalize on the burgeoning need for cloud computing solutions among businesses worldwide, due to the enormous amount of data generated by them.
Per a report from Mordor Intelligence, the global cloud migration space is expected to witness a CAGR of 28.89% between 2019 and 2024.
Accessibility to the on-premise data is playing a significant role in driving growth in this particular market.
Apart from Google other tech giants like Amazon AMZN, Microsoft MSFT and International Business Machines IBM are also leaving no stone unturned to bolster presence in this space.
Amazon Web Services (AWS) offers AWS DataSync, which aids in moving data between on-premises storage and Amazon S3 or Amazon Elastic File System. Further, the service reduces burden on IT operations and prevents data migration process from slowdown.
Further, IBM’s Aspera helps in secured migration of multiple large files and folders from any on-premises data center to any major cloud computing platform.
Meanwhile, Microsoft Azure provides a physical device called Data Box Edge and a virtual device namely Data Box Gateway, which run on-premises and helps in connecting to Azure over network. Additionally, Azure Data Factory aids in transferring and managing files between several Azure services and on-premise infrastructure.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Alphabet Inc. Price and Consensus” data-reactid=”12″>Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Wrapping Up” data-reactid=”26″>Wrapping Up
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Although competition is intensifying in the cloud computing market, Google Cloud’s growing momentum is noteworthy. Notably, this market is currently dominated by AWS.
Its strengthening market position driven by solid portfolio strength remains a major positive. The company is also making every effort to expand service offerings.
Apart from the latest move, the company recently acquired CloudSimple that specializes in VMware virtualization software. Further, it helps businesses in migrating databases, information, applications and other systems from in-house data centers to the public cloud.
The buyout is likely to help Google in gaining traction among enterprise customers.
We believe Google’s strong focus toward delivering enhanced customer experience will continue to drive market share.
Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today’s Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
See their latest picks free >>” data-reactid=”27″>Although competition is intensifying in the cloud computing market, Google Cloud’s growing momentum is noteworthy. Notably, this market is currently dominated by AWS.
Its strengthening market position driven by solid portfolio strength remains a major positive. The company is also making every effort to expand service offerings.
Apart from the latest move, the company recently acquired CloudSimple that specializes in VMware virtualization software. Further, it helps businesses in migrating databases, information, applications and other systems from in-house data centers to the public cloud.
The buyout is likely to help Google in gaining traction among enterprise customers.
We believe Google’s strong focus toward delivering enhanced customer experience will continue to drive market share.
Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today’s Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
See their latest picks free >>
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International Business Machines Corporation (IBM) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
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Zacks Investment Research” data-reactid=”28″>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
International Business Machines Corporation (IBM) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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