Market Synopsis
The data analysts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global cloud microservices market is estimated to value USD 2,146.7 million, thriving at a CAGR of 25% during the assessment period. The growing number of microservices architecture is anticipated to affect the global cloud microservices market 2020. Besides, the increasing demand for secured IT operations and cheap cost methods have further led to market expansion. Furthermore, the inclination of enterprises towards the private cloud for data security is projected to play an important part in market expansion. Also, the growing need to minimize the on-premise IT deployment cost is another pivotal factor leading to the growth of the market. However, insufficient technical expertise and the expenses related in the initial stage are anticipated to refrain the market from expanding.
However, the outbreak of COVID-19 has resulted in a pause in the daily operational activities of the global cloud microservices market. The offices have been temporarily shut to contain the spread of coronavirus. Thorough research is being carried out on the impact of coronavirus on the worldwide market. We will provide an impact analysis report on COVID-19.
Market Segmentation
The worldwide cloud microservices market can be distinguished on the basis of organization size, component, deployment, verticals, and geography.
On the basis of organization size, the worldwide cloud microservices market can be distinguished into large enterprise and small and medium-sized enterprises.
On the basis of component, the global cloud microservices market can be distinguished into platform and services.
On the basis of deployment, the worldwide cloud microservices market can be distinguished into the public cloud, private cloud, and hybrid cloud.
On the basis of verticals, the worldwide cloud microservices market can be distinguished into healthcare, retail and e-commerce, media & entertainment, IT & telecommunication, BFSI, government, transportation and logistics, and manufacturing.
On the basis of geography, the worldwide cloud microservices market can be distinguished into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Complete Report Details @ https://www.marketresearchfuture.com/reports/cloud-microservices-market-7199
Regional Analysis
The global market is estimated to expand significantly during the assessment period. Thorough research of North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been performed. As per the study, North America is estimated to dominate the global market. It is one of the most lucrative markets, and besides, it is also one of the early adopters of microservices architecture. Several sectors are relying on technology and are actively adopting cloud microservices. Europe attains the second position. Europe is a potential market and generates a significant amount of revenue during the assessment period. The most significant factor resulting in the market expansion is the presence and participation of the developed economies such as the UK, and Germany. On the other side, the APAC region is anticipated to be the fastest-growing region. The most pivotal factor leading to market expansion is the deployment of several organization in the APAC region due to the cheap cost in providing services to customers.
However, the market dynamics are estimated to be affected significantly due to the outbreak of COVID-19. Several regions have been affected due to the observation of lockdown.
Key Players
The established players of the global cloud microservices market are Software AG (Germany), CA Technologies, Amazon Web Services (US), IBM Corporation (US), Salesforce.com Inc (US), Microsoft Corporation (US), Infosys Limited (India), Syntel (US), Oracle Corporation (US), SmartBear Software (US). The other players contribute 30–35% in the cloud microservices market. Some of them are CoScale (Belgium), Contino (UK), Idexcel (US), Macaw (US), Kontena (Finland), Marlabs (US).
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Contact
Market Research Future
Office №528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune — 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
Market Synopsis The data analysts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global cloud microservices market is estimated to value USD 2,146.7 million, thriving at a CAGR of 25% during the assessment period.
Besides, the increasing demand for secured IT operations and cheap cost methods have further led to market expansion.
Thorough research is being carried out on the impact of coronavirus on the worldwide market.
We will provide an impact analysis report on COVID-19.Market Segmentation The worldwide cloud microservices market can be distinguished on the basis of organization size, component, deployment, verticals, and geography.
On the basis of component, the global cloud microservices market can be distinguished into platform and services.On the basis of deployment, the worldwide cloud microservices market can be distinguished into the public cloud, private cloud, and hybrid cloud.On the basis of verticals, the worldwide cloud microservices market can be distinguished into healthcare, retail and e-commerce, media & entertainment, IT & telecommunication, BFSI, government, transportation and logistics, and manufacturing.On the basis of geography, the worldwide cloud microservices market can be distinguished into North America, Europe, Asia-Pacific, and Rest of the World (RoW).Complete Report Details @ https://www.marketresearchfuture.com/reports/cloud-microservices-market-7199Regional Analysis The global market is estimated to expand significantly during the assessment period.
The most significant factor resulting in the market expansion is the presence and participation of the developed economies such as the UK, and Germany.
Market Synopsis The data analysts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global cloud micro services market is estimated to value USD 2,146.7 million, thriving at a CAGR of 25% during the assessment period.
Besides, the increasing demand for secured IT operations and cheap cost methods have further led to market expansion.
However, insufficient technical expertise and the expenses related in the initial stage are anticipated to refrain the market from expanding.However, the outbreak of COVID-19 has resulted in a pause in the daily operational activities of the global cloud microservices market.
Thorough research is being carried out on the impact of coronavirus on the worldwide market.
We will provide an impact analysis report on COVID-19.Market Segmentation The worldwide cloud microservices market can be distinguished on the basis of organization size, component, deployment, verticals, and geography.
On the basis of component, the global cloud microservices market can be distinguished into platform and services.On the basis of deployment, the worldwide cloud microservices market can be distinguished into the public cloud, private cloud, and hybrid cloud.On the basis of verticals, the worldwide cloud microservices market can be distinguished into healthcare, retail and e-commerce, media & entertainment, IT & telecommunication, BFSI, government, transportation and logistics, and manufacturing.On the basis of geography, the worldwide cloud microservices market can be distinguished into North America, Europe, Asia-Pacific, and Rest of the World (RoW).Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7199Regional Analysis The global market is estimated to expand significantly during the assessment period.
The 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", The cloud microservices market size is expected to grow from USD 683.2 Million in 2018 to USD 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 60 market data Tables and 41 Figures spread through 140 Pages and in-depth TOC on "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"https://www.marketsandmarkets.com/Market-Reports/cloud-microservices-market-60685450.htmlEarly buyers will receive 10% customization on reports.Cloud microservices 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.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=60685450North 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.
There are many challenges businesses face when moving their application to the cloud such as evaluation criteria, architectural principles, data security, lack of expertise, bandwidth cost etc.
Over a decade, many start-ups and large enterprises have adopted cloud and its computing power to build sustainable products.
The shift to work from home has given cloud-based services/applications a significant boost that is forcing organizations to migrate to a stable and better cloud platform.According to a report by Right scale, in 2019 around 91% of businesses have adopted public and private cloud computing.
Since almost all the organizations are using cloud computing platform, and we may see a significant rise in cloud adoption of services or applications in the future.RELATED BLOGA Buyer’s Guide to Cloud Managed Services One such example of a big gainer is “Zoom Meeting” last month it has crossed meetings participants from 200 million to 300 million in this challenging time.
The focus of these companies is predominantly on the front-end of migration of these applications to a stable cloud platform.
It can involve migrating one single application or the entire estate and they are taking quick actions.What is Cloud Migration?When organizations transfer their own data (applications, and workloads) from their own premises to the cloud or from one cloud to other clouds, this process is known as cloud migration.Cloud Migration can involve one or more cloud platforms, some clouds are public, where it is owned and managed by third-party cloud service providers and space is shared with other organizations, and some are private, where cloud resources are exclusively for a single organization.Many organizations prefer a combination of public and private cloud; this creates a hybrid cloud environment where you are able to reap the benefits of both environments.
Drive legacy modernization with Wipro's application modernization services by adopting cloud, re-architecting, standardizing, scaling applications through microservices API
