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Google Unveils Transfer Service, Bolsters Data Transfer Game
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Alphabet’s (GOOGL - Free Report) 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 - Free Report) , Microsoft (MSFT - Free Report) and International Business Machines (IBM - Free Report) 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.
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.
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.
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Google Unveils Transfer Service, Bolsters Data Transfer Game
Alphabet’s (GOOGL - Free Report) 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 - Free Report) , Microsoft (MSFT - Free Report) and International Business Machines (IBM - Free Report) 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.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Wrapping Up
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 >>