Cloud Microservices Market Size was valued at USD 1.3 billion in 2022. The Cloud microservices market industry is projected to grow from USD 1.56 Billion in 2023 to USD 6.93 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.45% during the forecast period (2024 - 2032). The increasing acceptance of cloud services, the rising need for low-cost and secure IT operations, and greater use of microservices architecture are the main drivers propelling the growth of the worldwide cloud microservices market. These are the key market drivers enhancing the market growth.
Figure 1: Cloud Microservices Market Overview, 2024 & 2030
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Digital solutions, linked gadgets, and IT systems are increasingly used in today's corporate world due to rapid technological improvements. The expansion of digital transformation has been made possible by the quickening pace of technological advancement. To engage clients in unique and fascinating ways, businesses worldwide are excitedly integrating new apps across their many industries. These new apps must also be implemented in an agile environment to ensure speedy development and responsiveness while maintaining top-notch security performance and cost-effectiveness to fully satisfy the organizational demands. Enterprises may quickly develop and implement business applications using the microservices architecture. Comparatively speaking, it offers more application development freedom than a monolithic design. It offers a number of advantages, including shorter Time to Market (TTM), scalability, and lower operating costs.
Moreover, microservices are assisting companies in simplifying the software development process. As a result, companies are embracing the cloud microservices strategy, which is crucial for creating sophisticated business applications. Thus, this factor is driving the Cloud microservices market CAGR.
The main drivers of the market growth for cloud microservices are the increasing usage of cloud services, the proliferation of microservice architecture, and the rising need for secure, low-cost IT operations. Many businesses are turning to the private cloud to protect their data and reduce the expense of deploying IT on-site.
The market for Cloud microservices is anticipated to develop over the research period as major businesses are using cloud microservices. Additionally, the cloud market is driven by a growing demand for cloud microservices architecture due to its many benefits, including reduced development time, simple Deployment, reusability across projects, integration with third-party services, better fault isolation, and ease of understanding. Thus, driving the Cloud microservices market revenue.
Based on components, the global cloud microservices market segmentation includes platforms and services. The platform segment dominated the market, accounting for 35% of market revenue. The Platform segment is anticipated to have a bigger market size during the projected period due to the growing demand for cloud microservices architecture in every business vertical for scaling functions at a very granular level, leading to effective system optimization and organization.
Figure 2: Cloud Microservices Market, by Component, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The global Cloud microservices market segmentation, based on organization size, includes large enterprises and SMEs. The large enterprise category generated the most income. Big businesses dominate the industry due to their dedication to streamlining the administration and maintenance of cloud-native apps. The segment's expansion is primarily attributable to major organizations' need for higher-quality goods and an efficient development process. More spending on R&D also contributes to higher company productivity.
Based on deployment, the global cloud microservices industry has been segmented into private, public, and hybrid. Hybrid held the largest segment share in 2022. Due to its advantages over the other two deployment groups in terms of flexibility, scalability, and cost-effectiveness, the hybrid cloud has the highest market demand. It is a better choice to compare a hybrid cloud to other cloud-based or non-cloud-based alternatives. Scalability, security, affordability, control, and speed are advantages.
Based on Verticals, the global Cloud microservices industry has been segmented into retail and e-commerce, healthcare, media & entertainment. Retail and e-commerce held the largest segment share in 2022. Due to rising consumer spending power, retail is one of the industries with the fastest growth rates. Retailers are using cutting-edge technology like cloud computing, big data analytics, digital storefronts, and social media networks in response to the growth of the online market. Customer experience emerges as a crucial differentiator among the variety of online purchasing alternatives, given the intense competition in this market.
By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific Cloud microservices market accounted for largest region in 2022 and is expected to exhibit a significant CAGR growth during the study period. The market for cloud microservices is anticipated to develop significantly in Asia-Pacific due to the digital revolution. Moreover, adopting the microservices architecture and customer-focused businesses would further fuel the expansion of the cloud microservices market in the area during the ensuing years. Moreover, China’s Cloud microservices market held the largest market share, and the Indian Cloud microservices market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: CLOUD MICROSERVICES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The second-largest Region in terms of market share for cloud microservices is Europe. Europe's Cloud microservices market is the second area to dominate the cloud microservices market due to the widespread use of these services in the Region's food and retail sectors. Several firms have migrated to these services since they could not handle the 6-million-page views per minute they were at the time. Some companies have found that utilizing microservices has reduced their operating expenses by 30% to 50%. Further, the German Cloud microservices market held the largest market share, and the UK Cloud microservices market was the fastest-growing market in the European Region.
Due to the expanding adoption of cutting-edge technology, the North America Cloud microservices market had a sizable market share in 2022. This Region is expanding its market share as more cutting-edge technologies are used. Also, as more North American businesses use microservices architecture in their banking, e-commerce, and travel services, there is an increase in demand. It improves agility, efficiency, and scalability while assisting in cost-effective information and data storage. According to the ITU, Canada is expected to spend more than USD 16 billion on digital transformation technologies and services, supported by investments in cutting-edge technologies like cognitive/artificial intelligence (AI) systems, IoT, next-generation security, 3D printing, and robotics, which power cloud microservices.
Leading industry companies are making significant R&D investments to broaden their product offerings, which will spur further expansion of the market for Version Control Systems products. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Version Control Systems industry must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.
One of the primary business strategies manufacturers employ in the worldwide Version Control Systems industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. The Version Control Systems industry has recently provided some of medicine's most important benefits. Major players in the Cloud microservices market, including Contino (UK), CoScale (Belgium), Idexcel (US), Kontena (Finland), Macaw (US), Marlabs (US), Netifi (US), NGINX (US), OpenLegacy (US), Pivotal Software (US), RapidValue Solutions (US), and others, are attempting to increase market demand by investing in research and development operations.
A subsidiary of Amazon, Amazon Web Services, Inc. offers metered, pay-as-you-go, on-demand cloud computing platforms and APIs to people, businesses, and governments. Clients frequently utilize this in addition to autoscaling. In order to provide industry- and domain-specific solutions for healthcare, financial services, and telecom, Amazon Web Services, Inc. and UST, a supplier of solutions for digital transformation, inked a multi-year Strategic Cooperation Agreement (SCA) in February 2022. UST will invest in expanding its in-depth understanding of business digital transformation and AWS. Enterprises will be upgraded using these technologies and AWS services.
The Austin, Texas-based Oracle Corporation is a global American company specializing in computer technology. According to sales and market capitalization, Oracle was the third-largest software firm in the world in 2020. Oracle said in July 2022 that new sovereign cloud zones would be available for the European Union in 2023. The first two EU sovereign cloud regions will be located in Germany and Spain and will be conceptually and physically separate from the Region's present public OCI regions. Private and governmental organizations can host sensitive, regulated, or strategically significant regional data and applications in the new sovereign cloud areas.
January 2022: A top supplier of EHS software and content, Red-on-line, has acquired Gutwinski Management GmbH, a top provider of EHS platform solutions. The purchase will produce a client portfolio product that is fundamentally complimentary and present a chance to expand the number of clients who can access goods and services globally.
Platform
Service
Large Enterprise
SMEs
Private
Public
Hybrid
Retail
E-Commerce
Healthcare
Media & Entertainment
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.3 billion |
| Market Size 2023 | USD 1.56 billion |
| Market Size 2032 | USD 6.93 billion |
| Compound Annual Growth Rate (CAGR) | 20.45% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Organization Size, Deployment, Verticals, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Contino (UK), CoScale (Belgium), Idexcel (US), Kontena (Finland), Macaw (US), Marlabs (US), Netifi (US), NGINX (US), OpenLegacy (US), Pivotal Software (US), RapidValue Solutions (US) |
| Key Market Opportunities | One of the popular ways to construct software systems aimed at producing a single-platform-operated architectural module is through cloud microservices. Due to small and medium-sized businesses increased use of cloud services in recent years, these cloud microservices have experienced significant growth trends. |
| Key Market Dynamics | Increasing acceptance of cloud services due to the growth of the microservices architecture and the requirement for secure, low-cost IT operations. |
Frequently Asked Questions (FAQ) :
The global Cloud microservices market size was valued at USD 1.3 Billion in 2022.
The global Cloud microservices market is projected to grow at a CAGR of 20.45% during the forecast period, 2023-2032.
Asia Pacific had the largest share in the global Cloud microservices market.
The key players in the market are Contino (UK), CoScale (Belgium), Idexcel (US), Kontena (Finland), Macaw (US), Marlabs (US), Netifi (US), NGINX (US), OpenLegacy (US), Pivotal Software (US), RapidValue Solutions (US).
The platform cloud microservices category dominated the market in 2022.
The hybrid channel had the largest share in the global Cloud microservices market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
