The size of the global cloud microservices market, estimated at USD 1.29 billion in 2022, is anticipated to increase by USD 6.04 billion by 2030, representing a CAGR of 21.6% over the forecast period, from USD 1.54 billion in 2023.
A methodology called microservices is used to create applications with modular components or services. Using a direct and easily defined interface, such as an Application Programming Interface (API), that makes reference to other sets of services, each module is designed to support particular tasks or business objectives. The microservices model enables developers to take a more decentralized approach to software development.
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Information about the report:
- Forecast Timeframe: 2023–2030
- The starting year is 2022
- Market Size in 2022- USD 1.29 billion
- The market size in 2029 will be USD 6.04 billion
- CAGR - 21.6%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Cloud Microservices Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The total amount of money that service providers make from offering their products to customers is referred to as the market size. Market share is the portion of the market that a single provider or a group of providers controls. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Cloud Microservices Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of details with the highest revenue growth rates.
By Deployment Model Analysis,
The market is divided into public, private, and hybrid segments based on deployment mode.
During the forecast period, the hybrid segment is anticipated to expand at a faster rate. The increased adoption of hybrid clouds by a variety of end users is credited with the growth. They can experiment more easily with new products and business models thanks to a hybrid cloud. As IT assumed a larger role, the workload in the data center increased. It is expensive to upgrade computers and storage, but hybrid cloud applications can be economical while promoting market expansion.
By Component Analysis,
Platforms and services are market segments based on components. During the forecast period, it is predicted that the services segment will expand at a faster CAGR. Cloud microservices give users better control over resources and computing power, enabling them to scale each service independently based on their needs. In addition to creating teams to support each service and implementing a DevOps strategy, the microservices architecture enables organizations to build more than just independent services.
By Enterprise Type Analysis,
The market is divided into large and small businesses, depending on the type of enterprise.
During the forecast period, it is anticipated that the SMEs segment will expand significantly and at a faster CAGR. The on-demand microservices consumption model, which has changed the IT landscape, is being widely embraced by SMEs. Cloud microservices are a desirable option for SMEs with limited resources and unconventional IT infrastructures due to their affordability, availability, and mutability. The demand for cloud microservices platforms is also increasing as a result of investments in scalable application development.
By Key Industry Analysis,
The main goals of significant players in the global market are to increase their market share and their global presence through merger and acquisition tactics. These companies focus on acquiring small and local firms to expand their business presence. Additionally, strategic alliances and significant investments in cloud-native technologies contribute to rising demand. The adoption of cloud decision frameworks and the inclusion of best practices for cloud operations by major players are enabling them to scale up more quickly.
List of Key Companies Profiled:
- Amazon Web Services, Inc. (U.S.)
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- Salesforce Inc. (U.S.)
- F5, Inc (U.S.)
By Region
In terms of geography, this market is investigated in North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
According to the analysis, the presence of major players in the region adopting cutting-edge technologies is the reason why North America held a significant market share for cloud microservices. Additionally, the adoption of the microservices architecture in the BFSI, e-commerce, and IT sectors by North American businesses is contributing to the growth in demand. When storing information and data, it helps reduce costs and improve flexibility, efficiency, and scalability. To bolster its position as an employer-based health service provider for cloud native applications, the Canadian company Telus acquired the Digital and in Person Health Company Lifeworks in June 2022 for USD 1.77 billion.
The study report provides a thorough analysis of the “Cloud Microservices Market Size” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Cloud Microservices Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Cloud Microservices Market industry will be able to gain the upper hand by using the study as a valuable resource.
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