Cloud Microservices Market to Grow with a CAGR of 20.1% Globally through to 2028
Global Cloud Microservices Market is rising due to the increasing demand
for scalable and flexible software solutions that can be easily deployed and
managed in cloud environments in the forecast period 2024-2028.
According to TechSci Research report, “Global Cloud
Microservices Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, Global Cloud Microservices Market has valued at USD 1.4 Billion
in 2022 and is anticipated to project robust growth in the forecast period with
a CAGR of 20.1% through 2028. The global cloud microservices market has
witnessed significant growth in recent years and is expected to continue its
upward trajectory in the coming years. Cloud microservices refer to a software
development approach where applications are built as a collection of small,
loosely coupled services that can be independently deployed and scaled. This
approach offers several advantages, including increased agility, scalability,
and resilience. One of the key drivers of the market growth is the rising
adoption of cloud computing across various industries. Cloud microservices
enable organizations to leverage the benefits of cloud infrastructure while
ensuring flexibility and modularity in their applications. Additionally, the
increasing demand for faster time-to-market and continuous delivery of software
solutions is fueling the demand for cloud microservices.
Furthermore, the growing popularity of
containerization technologies, such as Docker and Kubernetes, is also
contributing to the market growth. These technologies provide a lightweight and
scalable environment for deploying and managing microservices. Moreover, the
availability of various cloud service providers offering managed microservices
platforms is further propelling the market growth. However, challenges such as
security concerns and the complexity of managing distributed systems pose a
potential hindrance to market growth. Nevertheless, with the increasing focus
on digital transformation and the need for agile and scalable software
solutions, the global cloud microservices market is poised for substantial
growth in the foreseeable future.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "Global Cloud Microservices Market”.
The global cloud microservices market has witnessed
significant growth in recent years, driven by the increasing adoption of cloud
computing and the growing demand for scalable and flexible software solutions.
Cloud microservices refer to a software development approach that involves
breaking down large applications into smaller, independent services that can be
developed, deployed, and scaled independently. These services are designed to
work together seamlessly, enabling organizations to build and deliver complex
applications more efficiently. One of
the key factors driving the growth of the global cloud microservices market is
the increasing need for agility and scalability in software development.
Traditional monolithic applications often face challenges when it comes to
scaling and adapting to changing business requirements. Cloud microservices
offer a solution to this problem by allowing organizations to develop and
deploy applications in a modular manner. This enables them to quickly add or
remove services as needed, resulting in greater flexibility and agility.
Furthermore, the rise of cloud computing has played a
crucial role in the adoption of cloud microservices. Cloud platforms provide
the necessary infrastructure and tools for organizations to develop, deploy,
and manage microservices-based applications. These platforms offer benefits
such as scalability, high availability, and cost efficiency, making them an
attractive option for businesses looking to leverage the power of
microservices.
Another factor contributing to the growth of the
global cloud microservices market is the increasing demand for digital
transformation. As organizations strive to stay competitive in today's digital
landscape, they are looking for ways to modernize their IT infrastructure and
deliver innovative solutions to their customers. Cloud microservices enable
organizations to build and deploy applications faster, iterate more quickly,
and deliver new features and functionalities to market at a rapid pace. This
ability to innovate and respond to changing customer needs is crucial in
today's fast-paced business environment. Moreover, the global cloud
microservices market is also being driven by the growing adoption of
containerization technologies such as Docker and Kubernetes. Containers provide
a lightweight and portable way to package and deploy microservices, making it
easier for organizations to manage and scale their applications. Container
orchestration platforms like Kubernetes further simplify the deployment and
management of microservices, allowing organizations to focus on developing and
delivering value-added services.
In conclusion, the global cloud microservices market
is experiencing significant growth due to the increasing need for agility,
scalability, and digital transformation in software development. The adoption
of cloud computing, coupled with the rise of containerization technologies, has
further fueled the demand for cloud microservices. As organizations continue to
embrace cloud-native architectures and seek innovative ways to deliver software
solutions, the market for cloud microservices is expected to witness continued
growth in the coming years.
The Global Cloud Microservices Market is segmented
into Component, Deployment Mode, Enterprise Type, End-User, regional
distribution, and company.
Based on its Component, Based on component, the market is
segmented into platform and services. The services segment is estimated to grow
at a higher CAGR during the forecast period. Cloud microservices provide better
control of resources and computing power, making it possible for users to scale
each service on an independent basis according to their needs. The
microservices architecture allows organizations to build more than independent
services, in addition to establishing teams supporting each service and
implementing a DevOps approach.
Key players have incorporated best
practices to create scalable solutions and are helping companies with
consulting services to implement those best practices. Users can create an adoption
plan for microservices through consulting services. To migrate toward the
microservices architecture, this roadmap allows them to select services based
on their criticality.
Based on region, North America region dominated the
Global Cloud Microservices Market and is expected to maintain its dominance
during the forecast period. North America has been at the forefront of
technological advancements and has a well-established cloud infrastructure,
making it a favorable environment for the adoption of cloud microservices. The
region is home to several major cloud service providers and tech giants, such
as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform, which
have been driving the growth of cloud microservices. Additionally, North America
has a highly developed IT industry and a strong focus on innovation, which
further contributes to the region's dominance in this market. The increasing
demand for scalable and flexible solutions, coupled with the rising adoption of
cloud-based technologies across various industries, has propelled the growth of
cloud microservices in North America. Moreover, the region has a large customer
base, including enterprises of all sizes, which are increasingly leveraging
cloud microservices to enhance their business operations and improve customer
experiences. The presence of a robust ecosystem of technology startups and
venture capital firms in North America also fosters innovation and drives the
development of new cloud microservices solutions. Furthermore, favorable
government initiatives and policies supporting digital transformation and cloud
adoption further strengthen North America's position in the global market.
Overall, with its advanced infrastructure, technological expertise, and
favorable business environment, North America is expected to maintain its
dominance in the Global Cloud Microservices Market during the forecast period.
Major companies operating in Global Cloud
Microservices Market are:
- Amazon
Web Services, Inc.
- Microsoft
Corporation
- IBM
Corporation
- Salesforce
Inc.
- F5,
Inc
- Broadcom
- Software
AG
- Ksolves
India Limited
- Datadog
- WeaveWorks
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“The global cloud microservices market has seen
substantial growth recently, driven by the rising adoption of cloud computing
and the demand for flexible software solutions. Cloud microservices involve
breaking down large applications into smaller, independent services that can be
developed, deployed, and scaled independently. This approach offers agility and
scalability, addressing the limitations of traditional monolithic applications.
Cloud platforms provide the necessary infrastructure and tools for developing
and managing microservices-based applications, making them an attractive
option. Additionally, the demand for digital transformation has fueled the
adoption of cloud microservices, enabling organizations to innovate and respond
quickly to changing customer needs. The growing use of containerization
technologies like Docker and Kubernetes has also contributed to the market's
growth, simplifying the deployment and management of microservices. Overall,
the global cloud microservices market is expected to continue growing as
organizations prioritize agility, scalability, and digital innovation in
software development,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Cloud
Microservices Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Component (Platform, Services), By Deployment Mode
(Public, Private, and Hybrid), By Enterprise Type (Large Enterprises and SMEs),
By End-User (IT and Telecommunications, BFSI, Retail and Consumer Goods,
Healthcare, Education, Media and Entertainment, and Others), By Region, By
Competition”, has evaluated the future growth potential of Global Cloud
Microservices Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Cloud Microservices
Market.
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