Cloud Microservices Market - Overview
Cloud microservices is useful for developing software systems that can create a single-platform-operated architectural module. Market Research Future (MRFR) has published a research report on the global cloud microservices market that forecasts big development for this market at 20.45% CAGR (Compound Annual Growth Rate) between 2023 and 2032. By value, the market has been figured to be worth US$ 6.93 Bn by the end of the forecast period.
The factors essential for global cloud microservices market growth include the increased proliferation of the microservices architecture and rising demand for low-cost & secured information technology (IT) operations. Other factors contributing to the market growth include increasing cloud services adoption, increasing disposition of enterprises towards the private cloud for data security, and cost reduction regarding the on-premise IT deployment.
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Key Players
The key players in the global Cloud microservices industry include,
Amazon Web Services (USA), CA Technologies, Contino (UK), CoScale (Belgium), IBM Corporation (USA), Idexcel (USA), Infosys Limited (India), Kontena (Finland), Macaw (USA), Marlabs (USA), Microsoft Corporation (USA), Netifi (USA), NGINX (USA), OpenLegacy (USA), Oracle Corporation (USA), Pivotal Software (USA), RapidValue Solutions (USA), RoboMQ (USA), Salesforce.com Inc (USA), SmartBear Software (USA), Software AG (Germany), Syntel (USA), Tata Consultancy Services (TCS) (India), Unifyed (USA), and Weaveworks (UK).
Market Segmentation
The worldwide cloud microservices market can be distinguished on the basis of organization size, component, deployment, verticals, and geography.
On the basis of organization size, the worldwide cloud microservices market can be distinguished into large enterprise and small and medium-sized enterprises.
On the basis of component, the global cloud microservices market can be distinguished into platform and services.
On the basis of deployment, the worldwide cloud microservices market can be distinguished into the public cloud, private cloud, and hybrid cloud.
On the basis of verticals, the worldwide cloud microservices market can be distinguished into healthcare, retail and e-commerce, media & entertainment, IT & telecommunication, BFSI, government, transportation and logistics, and manufacturing.
On the basis of geography, the worldwide cloud microservices market can be distinguished into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Regional Analysis
The global market is estimated to expand significantly during the assessment period. Thorough research of North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been performed. As per the study, North America is estimated to dominate the global market. It is one of the most lucrative markets, and besides, it is also one of the early adopters of microservices architecture. Several sectors are relying on technology and are actively adopting cloud microservices. Europe attains the second position. Europe is a potential market and generates a significant amount of revenue during the assessment period.
The most significant factor resulting in the market expansion is the presence and participation of the developed economies such as the UK, and Germany. On the other side, the APAC region is anticipated to be the fastest-growing region. The most pivotal factor leading to market expansion is the deployment of several organization in the APAC region due to the cheap cost in providing services to customers.
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