Migrations in Laravel 5 comes as standard in CakePHP3 it is a plugin which you mention in your composer file then run the command in you command line '
composer require cakephp/migrations:~1.0'
Basically what migrations do is: they have the database table name and structure in your code. So from you code you can build your database tables.
With Cake Bake and Laravel Artisan you can do it the other way around. You can build your code (ie controller, views and models) (CRUD statements) with your database as reference.
Hope this helps a newbie!