According to a new market research report "Cloud Microservices Market by Component (Platform and Services), Deployment Mode (Public Cloud, Private Cloud, and Hybrid Cloud), Organization Size (Large Enterprises and SMEs), Vertical, and Region - Global Forecast to 2023" published by MarketsandMarkets™, the Cloud Microservices Market size expected to grow from $683.2 Million in 2018 to $1,880.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period.The growing digital transformation trends, customer oriented businesses, and penetration of microservices among enterprises are some of the major factors driving the cloud microservices market.Browse in-depth TOC on "Cloud Microservices Market"60- Tables41- Figures140- PagesRequest Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=60685450Cloud micro services platform segment is expected to hold a larger market size during the forecast period.Among the components, the platform segment is expected to hold a larger market size during the forecast period.
With the advent of advanced technologies and digital transformation trends, businesses focus more on streamlining application development process.
Hence, companies prefer adopting cloud microservices platform to improve agility in the business process and faster Time to market (TTM).Hybrid deployment mode is expected to be the fastest growing segment during the forecast period.Under the deployment mode, the hybrid cloud deployment is expected to hold the largest markets size and grow at the highest CAGR during the forecast period.
Considering the security and privacy aspects in the public cloud deployment mode, businesses are rapidly switching to the hybrid cloud deployment mode.Information Technology (IT) and IT Enabled Services (ITES) vertical is expected to grow at the highest CAGR during the forecast period.Among the industry verticals, the IT and ITES vertical is expected to grow at the highest CAGR in the global cloud microservices market.
Furthermore, the growing competition in the IT and ITES vertical is shifting the focus on delivering enhanced customer experience and satisfaction.North America is expected to hold the largest market size; and Asia Pacific (APAC) to grow at the highest CAGR during the forecast period.Among regions, North America is expected to hold the largest market size in the global cloud microservices market during the forecast period, followed by Europe.
North America has been adopting cloud microservices within organizations due to their wide range of features and functionalities.APAC is expected to register strong growth in the coming years, as organizations in this region are expected to adopt cloud microservices to improve application development process, and meet the demands of dynamic customers.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=60685450Traditional and emerging vendors in the cloud microservices market include AWS (US), CA Technologies (US), Contino (UK), CoScale (Belgium), IBM (US), Idexcel (US), Infosys (India), Kontena (Finland), Macaw Software (US), Marlabs (US), Microsoft (US), Netifi (US), NGINX (US), OpenLegacy (US), Oracle (US), Pivotal Software (US), RapidValue Solutions (US), RoboMQ (US), Salesforce (US), SmartBear Software (US), Software AG (Germany), Syntel (US), TCS (India), Unifyed (US), and Weaveworks (UK).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.