Cloud migration is the process of moving an on-premises application to the cloud without changing its architecture. It is simpler and doesn’t require development resources. 

On the other hand, Cloud modernization involves updating or rewriting applications to fully take advantage of cloud-native architectures and cloud services. It requires major changes to the application’s source code.   Cloud modernization yields enduring benefits. If you have the time and resources available, it’s undoubtedly worthwhile to pursue cloud modernization.