According to Stratistics MRC, the Global Cloud Microservices Market is accounted for $587.24 million in 2017 and expected to grow at a CAGR of 19.8% to reach $2989.50 million by 2026. The customer-oriented businesses and proliferation of Microservices architecture are some of the factors fuelling the market growth. On the other side, compliance and security are hampering the market growth. The emergence and implementation of technologies like IoT and cloud based applications provide ample opportunities for the market.
Microservices are independent applications that can be united together into a larger system. Developers use Microservices both to create new apps, and as a pattern to break apart and refactor legacy monolithic apps. Using an application development platform to manage the health and lifecycle of Microservices will improve the efficiency.
Based on deployment mode, the hybrid cloud is witnessing an increase in its adoption. This deployment type is expected to drive, due to its variety of features and functionalities, such as reliability, speed in accessing information, pay-per-usage model and lower operational costs. The businesses are quickly switching to the hybrid cloud deployment mode due to the security and privacy aspects in the public cloud deployment mode.
By vertical, banking, financial services and insurance growth in cloud Microservices is attributed to the increasing financial services, IT automation, and reforms in economy & banking services globally. The cloud Microservices architecture helps banking, financial services and insurance organizations by enhancing the application development process, streamlining business operations, and enriching customer experience.
With respect to geography, Asia Pacific region is growing predominantly. The market growth in this region can be projected to the technological developments in different industry verticals, such as education, banking, financial and insurance, government, healthcare, transportation and logistics, and retail etc. At present, the majority of organizations are fairly behind the curve in leveraging cloud Microservices platform, but this is expected to change due to the accessibility of low-cost, cloud-based Microservices. China, India, Japan, South Korea, and Australia are some of the APAC countries expected to constitute a major portion of the global cloud Microservices market.
Some of the key players in the Cloud Microservices Market include AWS, CA Technologies, IBM, Microsoft, Salesforce, NGINX, Oracle, Pivotal Software, Syntel, SmartBear Software, Weaveworks, Contino, OpenLegacy, CoScale and Software AG.
Deployment Modes Covered:
- Private Cloud
- Hybrid Cloud
- Public Cloud
Organization Sizes Covered:
- Small and Medium-Sized Enterprises
- Large Enterprises
- Transportation and Logistics
- Retail and Ecommerce
- Media and Entertainment
- IT and ITes
- Banking, Financial Services, and Insurance
- Other Verticals
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements