Cloud Microservices Market worth USD 4125.5 Mn by 2029: Competitive Landscape, Market Size, Regional Insights, New Market Opportunities, and Market Segment Analysis
Pune, 5, Dec2022: According to Maximize Market Research, the Cloud Microservices Market is expected to be worth USD 4125.5 million by 2029, with a 20.71% CAGR. The Increasing use of connected devices and technology adaptations are boosting the Cloud Microservices Market growth across the globe.
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Cloud Microservices Market Scope and Research Methodology
Both primary and secondary data sources are extensively used in the research study. In order to identify the difficulties or problems or to assess the system’s past, present, and future performance, the research method involves data collection from companies and industries using primary and secondary sources. A financial perspective and the SWOT (strengths, weaknesses, opportunities, and threats) models are two of the many tools used for organization analysis. The analysis of processes within a corporation is assisted by other methodologies, such as Value Chain Analysis.
The market size has been estimated using a bottom-up methodology. Through primary and secondary research, the major market participants are identified, and their market revenues are estimated. While primary research involved interviews with significant opinion leaders and industry experts such competent front-line staff, business owners, and marketing specialists, secondary research included a review of annual and financial reports of top manufacturers.
Cloud Microservices Market Overview
New approaches in application programming interfaces (API) have been made possible by the microservices architecture, enabling for more agile development in service delivery to clients. Next-generation cloud infrastructures can now be built using a microservices-based design. These contain applications made up of autonomous modules, enhancing agility, particularly in the software development process. The push for an API-first strategy in cloud-native app development for client apps and services has been giving cloud microservices more and more momentum, particularly among start-up businesses. Microservices are increasingly advantageous for cloud-native applications.
Cloud Microservices Market Dynamics
The cloud microservices market is currently growing due to significant factors including the speed with which businesses are undergoing digital transformations and the importance of cloud-native apps in these services. The growing move away from conventional monolithic systems and toward an API-first strategy is a key element driving the demand for cloud microservices. The increased demand for flexibility in creating and delivering business applications is a key factor fuelling the demand for microservices architecture. This stems from the need to create original methods of client involvement. The attraction of cloud microservices architecture is also influenced by its distinctive features, such as its ability to scale services to meet rising service demand. The requirement for managing the growing complexity of software development processes is another factor driving the demand for cloud microservices.
Concerns with security and compliance are preventing industry growth. The container can produce more environments for software development, but it also introduces new security threats that have an impact on compliance. Cyber attackers can profit from flaws in the cloud architecture’s permission settings for accessing services, which also include sensitive data.
Cloud Microservices Market Regional Analysis
North America held the largest market share in 2021. North America is considered as the most lucrative market for the microservices architecture, with a sizable concentration of well-known companies like IBM, Microsoft, and others. Most of these suppliers prioritise growing their product portfolios by utilising strategies like partnerships and mergers, among others, which have proven to be effective. The startling increase in connected device usage and the broad adoption of cloud-based solutions are further factors in the local market that are encouraging growth. The region also retains the leading position in the market as a result of the existence of sophisticated economies like the U.S., which place a high emphasis on innovations.
Cloud Microservices Market Segmentation
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organisation Size
- Small & Medium-Sized Enterprises
- Large Enterprises
- Retail and Ecommerce
- Media and Entertainment
- Banking, Financial Services, and Insurance
- IT and ITes
- Transportation and Logistics
Cloud Microservices Market Key Competitors:
- Amazon.com Inc.
- Atos SE
- Broadcom Inc.
- Contino Solution Ltd.
- F5 Networks Inc.
- Idexcel Inc.
- Infosys Ltd.
- International Business Machines Corp.
- Macaw Software Inc.
- Marlabs LLC
- Microsoft Corp.
- OPENLEGACY TECHNOLOGIES LTD.
- Oracle Corp.
- Salesforce.com Inc.
- SmartBear Software Inc.
- Tata Consultancy Services Ltd.
- Unifyed LLC
- Weaveworks Inc.
- Aspire Systems
Key questions answered in the Cloud Microservices Market are:
- What is the growth rate of the Cloud Microservices Market over the forecast period?
- What is the nature of competition in the Cloud Microservices industry in developed economies and developing economies?
- Who are the key players in the Cloud Microservices Market?
- Who are the market leaders in Cloud Microservices in Europe?
- Who are the market leaders in Cloud Microservices in USA and Canada?
- Who are the market leaders in Cloud Microservices in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Cloud Microservices Market?
Maximize Market Research is leading research firm, has also published the following reports:
Identity-as-a-Container Platform Market – The Identity-as-a-Container Platform Market size is expected to reach USD 4.82 billion by 2029 at a CAGR of 4 percent during the forecast period. The growing demand for greater monitoring of numerous product categories, from manufacture through shipment delivery, as well as growing worries about cargo safety and security, are driving the market growth.
Application Security Market – The Application Security Market size is expected to reach USD 24.56 billion by 2029 at a CAGR of 16.68 percent during the forecast period. Cyber risk managed services drive the need for application security across the world.
Application Delivery Controllers (ADC) Market – The Application Delivery Controllers (ADC) Market size is expected to reach USD 4.92 billion by 2029 at a CAGR of 9.65 percent during the forecast period. Increased digitization, as well as the increasing use of cloud computing solutions around the world, are driving market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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