Cloud microservices Market Research Report โ€“ Global Forecast till 2027

Cloud microservices Market Research, By Component (Platform, Services), Organization Size (Large Enterprise, SMEs), Deployment (Private, Public, Hybrid), Verticals (Retail and E-Commerce, Healthcare, Media & Entertainment)โ€” Global Forecast till 2027

ID: MRFR/ICT/5733-HCR | December 2022 | Region: Global | 100 Pages         

Cloud microservices Market

The cloud microservices market was valued at USD 584.4 million in 2017 and is expected to reach USD 2,146.7 million by the end of the forecast period with a CAGR of 25.0%

Segmentation

By Component Platform Services
By Organization Size Large Enterprise SMEs)
By Deployment Private Public Hybrid
By Vertical Retail and E-Commerce Healthcare Media & Entertainment

Key Players

  • ontino (UK)
  • CoScale (Belgium)
  • Idexcel (US)
  • Kontena (Finland)
  • Macaw (US)
  • Marlabs (US)
  • Netifi (US)
  • NGINX (US)
  • OpenLegacy (US)
  • Pivotal Software (US)
  • RapidValue Solutions (US)

Drivers

  • The major driving factors that contribute towards the growth of the global cloud microservices market include increased proliferation of the microservices architecture
  • rising demand of low cost and secured IT operations
  • and increasing cloud services adoption.
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Cloud Microservices Market Overview:
The cloud microservices market was valued at USD 584.4 million in 2017 and is expected to reach USD 2,146.7 million by the end of the forecast period with a CAGR of 25.0%. Cloud Microservices is one type of technique to develop software systems focussed on creating a single-function module operated with an architectural module. It is also used for the collection of loosely coupled services. Due to the higher deployment of cloud services in small and medium enterprises, there is high growth in recent years. This helps the enterprise in various ways such as developing an agile testing service to create scalable, and reliable software architecture. The microservices architecture helps the businesses to develop a process on its own as a set of services with the help of running an application programming interface (API).

Furthermore, the cloud microservices enable the enterprises to be highly maintainable, predictable in identifying errors and can deploy services independently without depending on other services. Moreover, microservices businesses help enterprises to work with large and complex applications.


COVID-19 Analysis:
Due to the COVID-19 outbreak, everything was changed a lot across the globe. Majorly, the business sectors, educational sectors, transportation sectors, food & beverages sectors, and many more sectors are badly affected by this pandemic situation. Due to the semi or full lockdowns, manufacturing industries are facing a shortage of workers, lack of raw materials, supply chain disruptions, and many more issues which leads to the production halt.


Due to the lockdown, lack of workers, and requirement of remote monitoring and working is increased. This increases demand for cloud microservices. Most of the enterprises are started work from home remote working which needs to handle the cloud data in a short time accurately and efficiently. The microservices market players got an opportunity to handle this problem efficiently. Hence the demand for cloud microservices increased and is expected to influence until the end of the year 2021.


Market Dynamics:
Drivers:
The growing proliferation of the microservice architecture, increasing demand for low-cost and secured IT operations, and rising adoption of cloud services are the major factors that drive the cloud microservices market growth. Rising disposition of enterprises towards the private cloud for securing the data and minimizing the on-premise IT deployment cost.


Growing the adoption of cloud microservices in large enterprises is expected to boost the growth of the microservices market during the review period. Moreover, growing demand for cloud microservices architecture for its various features like less development time, easy deployment, reusability in different projects, integration with third-party services, better fault isolation, and ease to understand which drives the cloud market.


Restraint:
The higher price is required for the initial deployment of microservices architecture is restraining the market growth. The shortage of skilled technical experts to implement these services is hampering the demand for the cloud microservices market. Security and compliance is also the factor that hinders the market growth.


Opportunities:
The rising adoption of cloud-based applications is one of the cloud microservices market opportunities to propel growth. The emergence of IoT applications drives the market growth.


Challenges:
Organizational challenges while implementing microservices are hindering the market growth. Lack of awareness among the enterprises regarding the benefits of cloud microservices market.


Study Objectives:


  • To provide detailed information about the cloud microservices industry structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the cloud microservices market value.

  • To analyze the cloud microservices industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the cloud microservices market revenue for the main geographies.

  • To provide the country-level analysis of the current cloud microservices market size and future prospective.

  • To provide country-level analysis of the cloud microservices market industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global cloud microservices market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global cloud microservices market research.


Cloud microservices Market Segment Overview:
The global cloud microservices market has been divided into segments based on components, organization size, deployment, verticals, and region.


Based on Component:
Based on components, the cloud microservices market is segmented into two types as platform and services. Again services are segmented into integration services, consulting services, and maintenance & support services. Out of these two components, the platform segment is anticipated to hold the largest cloud microservices market share for the growing need for microservices architecture in industries for scaling functions at a very granular level that leads to efficient system optimization and organization.


Based on Organization Size:
The global cloud microservices market based on organization size is segmented into three types as large enterprise, medium-sized enterprise, and small-sized enterprise. Large enterprises hold the largest market share for their high focus on simplifying the operations and management of cloud-native applications.


Based on Deployment:
By deployment, the cloud microservices market is classified into three types as public cloud, private cloud, and hybrid cloud. Among them, hybrid cloud accounts for the largest demand for the market due to its capabilities like flexibility, scalability, and cost-effectiveness when compared to the other two deployment segments.


Based on Vertical:
By vertical, the global microservices market is segmented into various verticals such as IT & telecommunication, government, transportation, retail, media & entertainment, BFSI, healthcare, logistics, e-commerce, and manufacturing. Retail and e-commerce segments are the leading positions for the cloud microservices market for its benefits like simple architecture, easy deployment, operational efficiency, faster time to market, and enhanced customer experience.


Based on Region:
Globally, the cloud microservices market is based on regions segmented into four main geographies like Asia-Pacific, Europe, North America, and the rest of the world. North is the leading region in the cloud microservices market for the growing adoption of advanced technologies.


Cloud microservices Market Regional Analysis:
Regionally, the global cloud microservices market analysis is divided into Asia-Pacific, Europe, North America, and the rest of the world. North America is one of the major and early adopters of microservices architecture in travel, e-commerce, and financial services that helps in storing information and data cost-effectively and increases agility, efficiency, and scalability. To increase their business efficiency, several industries and verticals are adopting cloud microservices advanced technologies in this region. According to the International Telecommunication Union, in Canada, digital transformation technologies and services spend USD 16 billion invested in emerging technologies like the IoT, next-generation security, artificial intelligence (AI) systems, 3D printing, virtual reality, and robotics that drives the cloud microservices.


For the presence of highly developed countries like Germany and the UK, Europe follows North America in terms of revenue generation. Due to various enterprises are deploying their business and facilities to offer minimum cost services to their customers, Asia-Pacific is expected to be the fastest-growing region.


Competitive Landscape:
The prominent key players in the cloud microservices market trends are the following:



  • Amazon Web Services (US)

  • CA Technologies

  • IBM Corporation (US)

  • Microsoft Corporation (US)

  • com Inc (US)

  • Infosys Limited (India)

  • Oracle Corporation (US)

  • Syntel (US)

  • SmartBear Software (US)

  • Software AG (Germany)

  • Contino (UK)

  • CoScale (Belgium)

  • Idexcel (US)

  • Kontena (Finland)

  • Macaw (US)

  • Marlabs (US)

  • Netifi (US)

  • NGINX (US)

  • OpenLegacy (US)

  • Pivotal Software (US)

  • RapidValue Solutions (US)

  • RoboMQ (US)

  • TCS (India)

  • Unifyed (US)

  • Weaveworks (UK)


Recent Developments:
In May 2019, the companies cloud data management leader introduced the technological innovation for the use of reference data management microservices-based 360 solutions. These solutions provide the trusted, accurate, and complete reference data which is needed by the enterprises for their digital transformation initiatives that include marketing and sales operation, omnichannel retailing, supply chain optimization, governance, and compliance efforts.  , 


In November 2017, a highly well-known CA technology introduced advanced innovation to CA’s DevOps portfolio. They introduced both the Continuous Delivery portfolio and CA Digital Experience Monitoring. This would accelerate and automate development and release, improves the testing process, and also provides unprecedented visibility into digital experiences.


In March 2016, the microservices market top company Microsoft released a microservices platform for developing business applications on the cloud which is named Azure Service Fabric.


Report Overview:
This global cloud microservices market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the cloud microservices market drivers, restraints, challenges, and opportunities. The cloud microservices forecast segments are five types as organization size, deployment, components, verticals, and region.


Segmentation Table:
Globally, the cloud microservices market report has been segmented based on the deployment, components, organization size, verticals, and region.


By Component:
Platform and services. Further services are segmented into integration services, consulting services, and maintenance & support services.


By Organization Size:
Large enterprise, medium-sized enterprise, and small-sized enterprise.


By Deployment:
Public cloud, private cloud, and hybrid cloud.


By Vertical:
Government, transportation, retail, logistics, e-commerce, BFSI, media & entertainment, IT & telecommunication, healthcare, and manufacturing.


By Region:
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in this cloud microservices market.



Report Scope:

Report Attribute/Metric Details
  Market Size

  • USD 584.4 Million (2017)
  • USD 2,146.7 Million (2023)
  •   CAGR   25.0% (2018-2023)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Component, Organization Size, Deployment
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   ontino (UK), CoScale (Belgium), Idexcel (US), Kontena (Finland), Macaw (US), Marlabs (US), Netifi (US), NGINX (US), OpenLegacy (US), Pivotal Software (US), RapidValue Solutions (US), RoboMQ (US), TCS (India), Unifyed (US), and Weaveworks (UK)
      Key Market Opportunities

  • Cloud microservices is one of the prominent way to develop software systems focused on creating a single-platform operated archityectural module. \r\n
  • These cloud microservices have seen major growth trend in the recent years due to higher deployment of cloud services in small and medium enterprises.
  •   Key Market Drivers   The major driving factors that contribute towards the growth of the global cloud microservices market include increased proliferation of the microservices architecture, rising demand of low cost and secured IT operations, and increasing cloud services adoption.


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    Frequently Asked Questions (FAQ) :

    The cloud microservices market can thrive at 25% CAGR by 2023.

    The cloud microservices market can value at USD 2.1 Bn by 2023.

    RapidValue Solutions (US), Pivotal Software (US), TCS (India), RoboMQ (US), and Unifyed (US) are some reputed names in the cloud microservices market.

    The rise in demand for low cost IT operations can impel the cloud microservices market expansion.

    Corporates in North America are adopting cloud microservices, which can impel market growth.