Global Cloud Microservices Market is expected to reach USD1880 Mn by 2026 at a CAGR of 22.2% during the forecast period.
Global Cloud Microservices Market
Microservices are an architectural approach for making cloud applications which are built as a set of amenities and each amenity runs in its own process and communicates through application programming interface (API). Services can be written in any language. Services are independently scalable deployable and upgradable. Each service can be independently scaled to demand without consuming unnecessary resources.
Security and compliance are some of the major factors that may restrain the growth of the Cloud Microservices Market. Driving Factors Such as proliferation of the microservices architecture, customer-oriented business, and digital transformations are expected to drive the growth of the Global Cloud Microservices Market during the forecast period.
Global Cloud Microservices Market is segmented by Component, Deployment Mode, Organization Size, Industry Vertical, and Region. The component segment is sub segmented into platform and services. Among services, training, support and maintenance service segment are expected to reach at the XX% CAGR during the forecast period, as these services enable service providers to offer continuous support and training session to users. Also, these services help to resolve business complexities.
While using deployment mode, the hybrid deployment model is expected to have a XX market size during the forecast period, as it offers more control, reduced risk, cost efficiency, and better performance. The hybrid cloud is an integrated service that uses both private and public cloud with an orchestration between the 2 cloud services.
Among verticals, the retail and eCommerce vertical are expected to hold the XX market size during the forecast period. Retailers are adopting cloud computing, big data analytics, social media networks, and digital stores. Hence, there will be a high adoption of cloud microservices methodologies in the eCommerce and retail vertical due to its benefits, such as improved operational efficiency, simple architecture, easy deployment, accelerated time-to-market, and enhanced customer experience.
Regions are segmented into North America, Asia Pacific (APAC), Europe, Middle East, and Latin America. Among these, APAC is expected to register for XX% CAGR during the forecast period. North America have developed economic countries like US and Canada, and their focus on innovations obtained from R&D and technology. North America is considered the most advanced region in terms of technology adoption.
The objective of the report is to present a comprehensive analysis of the Global Cloud Microservices Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Cloud Microservices Market dynamics, structure by analyzing the market segments and project the Global Cloud Microservices Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Cloud Microservices Market make the report investor’s guide.
Scope of the Global Cloud Microservices Market Report:
• Global Cloud Microservices Market, by Component
o Platform
o Services
• Global Cloud Microservices Market, by Deployment Mode
o Public Cloud
o Private Cloud
o Hybrid Cloud
• Global Cloud Microservices Market, by Organisation Size
o Large Enterprises
o Small and Medium-sized Enterprises (SMEs)
• Global Cloud Microservices Market, by Industry Vertical
o Retail and eCommerce
o Healthcare
o Media and Entertainment
o BFSI
o IT and ITES
o Government
o Transportation and Logistics
o Manufacturing
o Telecommunication
o Others (Energy and Utilities, Travel and Hospitality, and Education)
• Global Cloud Microservices Market, by Region
o North America
o Europe
o Asia Pacific (APAC)
o Middle East and Africa (MEA)
o Latin America
Key Players in Global Cloud Microservices Market
• AWS (US)
• CA Technologies (US)
• Contino (UK)
• CoScale (Belgium)
• IBM (US)
• Idexcel (US)
• Infosys (India)
• Kontena (Finland)
• Macaw Software (US)
• Marlabs (US)
• Microsoft (US)
• Netifi (US)
• NGINX (US)
• OpenLegacy (US)
• Oracle (US)
• Pivotal Software (US)
• RapidValue Solutions (US)
• RoboMQ (US)
• Salesforce (US)
• SmartBear Software (US)
• Software AG (Germany)
• Syntel (US)
• TCS (India)
• Unifyed (US)
• Weaveworks (UK)
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Market SynopsisThe data analysts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global cloud microservices market is estimated to value USD 2,146.7 million, thriving at a CAGR of 25% during the assessment period.
Besides, the increasing demand for secured IT operations and cheap cost methods have further led to market expansion.
However, insufficient technical expertise and the expenses related in the initial stage are anticipated to refrain the market from expanding.However, the outbreak of COVID-19 has resulted in a pause in the daily operational activities of the global cloud microservices market.
Thorough research is being carried out on the impact of coronavirus on the worldwide market.
We will provide an impact analysis report on COVID-19.Market SegmentationThe 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).Complete Report Details @ https://www.marketresearchfuture.com/reports/cloud-microservices-market-7199Regional AnalysisThe global market is estimated to expand significantly 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.
Market Synopsis The data analysts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global cloud micro services market is estimated to value USD 2,146.7 million, thriving at a CAGR of 25% during the assessment period.
Besides, the increasing demand for secured IT operations and cheap cost methods have further led to market expansion.
However, insufficient technical expertise and the expenses related in the initial stage are anticipated to refrain the market from expanding.However, the outbreak of COVID-19 has resulted in a pause in the daily operational activities of the global cloud microservices market.
Thorough research is being carried out on the impact of coronavirus on the worldwide market.
We will provide an impact analysis report on COVID-19.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 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).Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7199Regional Analysis The global market is estimated to expand significantly during the assessment period.
The report "Cloud Microservices Market by Component (Platform and Services), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size (Large Enterprises and SMEs), Vertical, and Region - Global Forecast to 2023", The cloud microservices market size is expected to grow from USD 683.2 Million in 2018 to USD 1,880.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period.
The growing digital transformation trends, customer oriented businesses, and penetration of microservices among enterprises are some of the major factors driving the cloud microservices market.Browse 60 market data Tables and 41 Figures spread through 140 Pages and in-depth TOC on "Cloud Microservices Market by Component (Platform and Services), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size (Large Enterprises and SMEs), Vertical, and Region - Global Forecast to 2023"https://www.marketsandmarkets.com/Market-Reports/cloud-microservices-market-60685450.htmlEarly buyers will receive 10% customization on reports.Cloud microservices platform segment is expected to hold a larger market size during the forecast period.Among the components, the platform segment is expected to hold a larger market size during the forecast period.
With the advent of advanced technologies and digital transformation trends, businesses focus more on streamlining application development process.
Hence, companies prefer adopting cloud microservices platform to improve agility in the business process and faster Time to market (TTM).Hybrid deployment mode is expected to be the fastest growing segment during the forecast period.Under the deployment mode, the hybrid cloud deployment is expected to hold the largest markets size and grow at the highest CAGR during the forecast period.
Considering the security and privacy aspects in the public cloud deployment mode, businesses are rapidly switching to the hybrid cloud deployment mode.Information Technology (IT) and IT Enabled Services (ITES) vertical is expected to grow at the highest CAGR during the forecast period.Among the industry verticals, the IT and ITES vertical is expected to grow at the highest CAGR in the global cloud microservices market.
Furthermore, the growing competition in the IT and ITES vertical is shifting the focus on delivering enhanced customer experience and satisfaction.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=60685450North America is expected to hold the largest market size; and Asia Pacific (APAC) to grow at the highest CAGR during the forecast period.Among regions, North America is expected to hold the largest market size in the global cloud microservices market during the forecast period, followed by Europe.
There are many challenges businesses face when moving their application to the cloud such as evaluation criteria, architectural principles, data security, lack of expertise, bandwidth cost etc.
Over a decade, many start-ups and large enterprises have adopted cloud and its computing power to build sustainable products.
The shift to work from home has given cloud-based services/applications a significant boost that is forcing organizations to migrate to a stable and better cloud platform.According to a report by Right scale, in 2019 around 91% of businesses have adopted public and private cloud computing.
Since almost all the organizations are using cloud computing platform, and we may see a significant rise in cloud adoption of services or applications in the future.RELATED BLOGA Buyer’s Guide to Cloud Managed Services One such example of a big gainer is “Zoom Meeting” last month it has crossed meetings participants from 200 million to 300 million in this challenging time.
The focus of these companies is predominantly on the front-end of migration of these applications to a stable cloud platform.
It can involve migrating one single application or the entire estate and they are taking quick actions.What is Cloud Migration?When organizations transfer their own data (applications, and workloads) from their own premises to the cloud or from one cloud to other clouds, this process is known as cloud migration.Cloud Migration can involve one or more cloud platforms, some clouds are public, where it is owned and managed by third-party cloud service providers and space is shared with other organizations, and some are private, where cloud resources are exclusively for a single organization.Many organizations prefer a combination of public and private cloud; this creates a hybrid cloud environment where you are able to reap the benefits of both environments.
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