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If we currently have the live solochain and in future we need to go on parachain how we will migrate the data from the existing solochain to parachain.

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There is a newly released video by parity on launching a Parachain. It might help you.

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  • Thanks @Just, let me know if there is any questions/feedback you need
    – Josh
    Mar 28, 2023 at 14:05
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Check the answer to this previous question on StackExchange: Do not want to clean up the data of the independent chain, how to seamlessly connect to the parachain?.

I like to share too this video of the Sub0 conference: Sub0 Online: Storage Migration - Standalone chain to Parachain

Also is not about migrate data but worth to check this tutorial in Substrate docs about how to Convert a solo chain into a parachain.

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