Cloud Microservices Market size was valued at US$ 1104.7 Mn. in 2022 globally and revenue is expected to grow at 20.71 % from 2023 to 2029, reaching nearly US$ 4125.5 Mn.
Market Overview:Cloud Microservices is the type of technique to grow software systems, focused on creating a single-function module worked with an architectural module. The deployment, development, and operation of cloud microservices don't interfere with the performance of other services. This makes it possible for the company to maintain product availability while precisely estimating the cost of the appropriate size infrastructure. Thanks to the benefits provided by Cloud Microservices, SMEs and major businesses engaged in this sector quickly utilize cloud microservices approaches. The cloud microservices architecture is used by businesses in this sector such as Sony Pictures Entertainment, Netflix, BBC, and Hulu.To know about the Research Methodology:-Request Free Sample Report
Research MethodologyThe research study involves the extensive use of both primary and secondary data sources. The research process involved data collected from companies and industries using primary and secondary sources, which have to be analyzed in a systematic manner to identify the issues or problems or analyze the system's past, present, and future performance. Out of many frameworks used for company analysis, some popular frameworks are SWOT (strengths, weaknesses, opportunities, and threats) and a balanced scorecard. Other frameworks, such as Value Chain Analysis, facilitate the analysis of processes within a company. The bottom-up approach has been used to estimate the market size. Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals.
Cloud Microservices Market Dynamics:Cloud microservices architecture addresses the issue of productivity and speed by breaking down programs into manageable services that advance more quickly. Since each cloud microservice can be properly evaluated and tested using the previously defined techniques, cloud microservices are particularly useful for advancing quality assurance. Organizations in the public and private healthcare sectors are under pressure to boost population health while cutting expenses. As they allow the health IT and DevOps teams to quickly and safely build apps in a HIPAA-compliant cloud environment and create a superior customer experience, cloud microservices are being adopted by businesses in this vertical at an increasing rate. Online marketplace growth has led to businesses adopting cutting-edge technology including big data analytics, cloud computing, digital storefronts, and public media networks. Due to poor client experiences, online retailers and eCommerce sellers run the danger of losing their customers. As a result, the cloud microservices platform has been widely used in the retail sector and eCommerce offers significant benefits, including its straightforward architecture, greater operational efficiency, faster time to market, improved consumer experience, and simple deployment. Businesses in the eCommerce and retail sectors are also being compelled to accept cloud microservices because of the need to increase client happiness and revenues as well as the expanding data generation. These characteristics influence retailers to adopt effective technology, which encourages the use of cloud microservices to increase client approval. Trends and Opportunities in Global Cloud Microservices Market: The constant growth of the cloud microservices market is driven by major trends such as the quick steps taken by companies in their digital transformations and the relevance of cloud-native apps in these services. One significant factor boosting the demand for cloud microservices is the growing shift away from traditional monolithic systems and toward an API-first strategy. One significant element supporting the demand for microservices architecture is the growing need for flexibility in developing and delivering business applications. This results from the requirement to develop novel approaches to client engagement. The unique qualities of cloud microservices architecture, such as its capacity to expand services to meet rising service demand, are also contributing to its appeal. The need for cloud microservices is also being driven by the need to manage the increasing complexity of software development processes. Improving Manufacturer’s Productivity and Speed The cloud microservices architecture addresses the issue of productivity and speed by breaking down programs into manageable services that advance more quickly. Since each cloud microservice can be independently evaluated and tested using the previously defined techniques, cloud microservices are particularly useful for advancing quality assurance. Increase Time to Market with Microservices People have high expectations about the apps that they frequently use, regardless of whether they're using a mobile app or a website to access it. Companies are forced to regularly release new features and fixes as a result. This procedure used to be difficult because an application was often created, constructed, and made accessible as a single, frequently monolithic application. Microservices are a type of application architectural style where an application is made up of numerous separate, network-connected components: 1. Small services are created from large monolithic apps. 2. The smallest deployable unit for a microservices application is one network-accessible service 3. Every service operates in a separate process. One service per container is a common way to express this criterion, although any lightweight deployment method, such as a Cloud Foundry runtime, is also acceptable. Challenges for Global Cloud Microservices Market: One of the things hindering the growth of the cloud microservices market is organizational difficulties with managing microservices. Managing microservices is becoming more difficult as their number rises. The management aspects must be planned either before or during construction. While modularity is helpful, if things are not controlled properly, they can spiral out of control. The challenges that arose early on in the implementation of such a microservice are comparable to those that are present with the poor management of the services.
Cloud Microservices Market Segment AnalysisIn 2022, the Retail and Ecommerce Segment Dominated the Cloud Microservices Market. Based on the application, in 2022, the retail and eCommerce segment dominated the cloud microservices market, owing to the growing consumer purchasing power. Retailers are implementing 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 options given the intense competition in the Cloud Microservices Market. The manufacturing segment is expected to hold the largest share by 2029 The existing automation pyramid is falling apart as a result of the development of intelligent technology, which is driving up demand for cloud-based microservices in the manufacturing industry. Additionally, the focus of manufacturing IT is shifting toward apps and service orientation. With minimal upfront investment and almost infinite on-demand capacity, AWS's (Amazon Web Services) pay-as-you-go microservices and serverless computing models lower the cost of running connected manufacturing plants or smart product initiatives. As manufacturing businesses discovered, they might not be able to remain in the cutthroat market without the backing of Information Technology (IT) and computer-aided capabilities, "cloud network manufacturing" offers a new approach to conducting business. By giving manufacturers a digital twin of their OPC (Open platform communication) UA-enabled machines and greatly improving security and certification management, Microsoft is the dominant core technology supplier to the industrial sector. Here, users may use microservices running on Azure to directly control and manage their OPC twins from the cloud. IoT technology was used by the German multinational company ThyssenKrupp to link its elevators to the microservice cloud. Algorithms can process information and forecast when maintenance is necessary before an elevator breaks down because of the data acquired from an elevator's sensors. Utilizing Microsoft HoloLens, elevator technicians can receive remote, hands-free instructions from specialists while they are on the job site, further enhancing this predictive maintenance.
Cloud Microservices Market Regional Insights:North America to Account for Largest Cloud Microservices Market Share: North America held a significant market share in 2022, owing to the growing use of cutting-edge technologies. Additionally, North American businesses use microservices architecture in their financial, e-commerce, and travel services, and there is an increase in demand. Microservices architecture helps to store information and data cost-effectively while also boosting agility, efficiency, and scalability. 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, augmented reality or virtual reality, 3D printing, and robotics, which power cloud microservices. Microservices were refactored into Walmart Canada's software architecture. The business, which at the time was unable to handle the 6-million-page hits per minute it was receiving, saw immediate results with an overnight considerable boost in conversion rate. Additionally, downtime was kept to a minimum, and the business was able to switch from pricey commodity hardware to less expensive virtual x86 servers, saving 20 to 50 % in total. This increases the need for cloud microservices in this industry. Micro services using IBM Cloud Functions and Cloud Foundry are used to launch a storefront retail application in the United States, where users can make purchases and leave review comments. This effectively accelerates market growth. Europe Is the Second Largest Region with Cloud Micro services Market Share. Owing to the significant adoption of these services in the region's food and retail industries, Europe is the second region to dominate the cloud micro services industry. Due to their inability to handle the 6-million-page hits per minute they were receiving at the time, many businesses have switched to these services. After using micro services, these businesses have discovered that their operating costs have decreased by 30 to 50%.
Competitive Landscape:Key players in the Cloud Micro services market have adopted various strategies to expand their global presence and increase their market shares. Partnerships, agreements, mergers and acquisitions, and new product developments are some of the major strategies adopted by the market players, to achieve growth in the Cloud Micro services market: Amazon.com - Company engages in the provision of cloud micro services, a small-scale, autonomous team-owned architectural and organizational framework for software development. IBM Corp.: The business is engaged in providing cloud micro services and has developed a special platform for delivering the high levels of productivity, speed, and quality required by massive cloud-native development teams. Macaw Software In: Providing cloud micro services, a method of constructing applications made up of numerous loosely connected, independently deployable, smaller components and services, is what Macaw Software In. does. Broadcom.com- This business specializes in providing cloud micro services that let users create new micro services and port over their current applications to a scalable cloud platform for improved management of application workloads. Contino.io: The startup, Contino.io, specializes in providing cloud micro services that quicken the delivery of software and increase agility with regard to newly created goods.
Report Scope:Cloud microservices market research report includes product categorization, product application, development trend, product technology, competitive landscape, industrial chain structure, national policy, planning analysis of the industry, and the most recent dynamic analysis. The report covers the influence of various drivers, trends, and constraints on market demand during the forecast period. The research also outlines market potential on a global scale. The research includes the production time, base distribution, technical characteristics, research and development trends, technology sources, and raw material sources of significant cloud micro services market firms in terms of production bases and technologies. The more precise research also contains the key application areas of market and consumption, significant regions and consumption, major producers, distributors, raw material suppliers, equipment providers, and their contact information, as well as an analysis of the industry chain relationship. This report's study also contains product specifications, manufacturing processes, cost structure, and data information organized by area, technology, and application.
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Cloud Microservices Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 1104.7 Mn. Forecast Period 2023 to 2029 CAGR: 20.71% Market Size in 2029: US $ 4125.5 Mn. Segments Covered: by Type Public Cloud Private Cloud Hybrid Cloud by Organization Size Small & Medium-Sized Enterprises Large Enterprises by Application Retail and Ecommerce Healthcare Media and Entertainment Banking, Financial Services, and Insurance IT and ITes Government Transportation and Logistics Manufacturing Telecommunication Others
Cloud Microservices Market, by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina and Rest of South America)
Leading Companies in Cloud Microservices Market are:1. Amazon Web Services, Inc. (US) 2. Atos SE (France) 3. Broadcom Inc. (US) 4. Contino Solution Ltd. (UK) 5. F5 Networks Inc. (US) 6. Idexcel Inc. (US) 7. Infosys Ltd. (India) 8. International Business Machines Corp. (US) 9. Macaw Software Inc. (US) 10. Marlabs LLC (US) 11. Microsoft Corp. (US) 12. OPENLEGACY TECHNOLOGIES LTD. (US) 13. Oracle Corp. (US) 14. RoboMQ (US) 15. Salesforce.com Inc. (US) 16. SmartBear Software Inc. (US) 17. Tata Consultancy Services Ltd. (India) 18. Weaveworks Inc. (US) 19. Aspire Systems (India) 20. Invision (US) 21. GitHub Inc. (US) 22. CA Technologies (US) 23. Pivotal Software, Inc. (US) 24. Anjuna Security, Inc. (US) 25. Geant Technology, LLC (US) Frequently Asked Questions: 1] What segments are covered in the Cloud Microservices Market report? Ans. The segments covered in the Cloud Microservices Market report are based on Type, organization size, and application. 2] Which region is expected to hold the highest share in the Cloud Microservices Market? Ans. North America region is expected to hold the highest share in the Cloud Microservices Market. 3] What is the market size of the Cloud Microservices Market by 2029? Ans. The market size of the Cloud Microservices Market by 2029 is US$ 4125.5 Mn. 4] What is the forecast period for the Cloud Microservices Market? Ans. The forecast period for the Cloud Microservices Market is 2023-2029. 5] What was the market size of the Cloud Microservices Market in 2022? Ans. The market size of the Cloud Microservices Market in 2022 was US$ 1104.7 Mn.
1. Global Cloud Microservices Market: Research Methodology 2. Global Cloud Microservices Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Cloud Microservices Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Cloud Microservices Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Cloud Microservices Market Segmentation 4.1. Global Cloud Microservices Market, By Type (2022-2029) • Public Cloud • Private Cloud • Hybrid Cloud 4.2. Global Cloud Microservices Market, By Organization Size (2022-2029) • Small & Medium-Sized Enterprises • Large Enterprises 4.3. Global Cloud Microservices Market, By Application (2022-2029) • Retail and Ecommerce • Healthcare • Media and Entertainment • Banking, Financial Services, and Insurance • IT and ITes • Government • Transportation and Logistics • Manufacturing • Telecommunication • Others 5. North America Cloud Microservices Market (2022-2029) 5.1. North America Cloud Microservices Market, By Type (2022-2029) • Public Cloud • Private Cloud • Hybrid Cloud 5.2. North America Cloud Microservices Market, By Organization Size (2022-2029) • Small & Medium-Sized Enterprises • Large Enterprises 5.3. North America Cloud Microservices Market, By Application (2022-2029) • Retail and Ecommerce • Healthcare • Media and Entertainment • Banking, Financial Services, and Insurance • IT and ITes • Government • Transportation and Logistics • Manufacturing • Telecommunication • Others 5.4. North America Cloud Microservices Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Cloud Microservices Market (2022-2029) 6.1. European Cloud Microservices Market, By Type (2022-2029) 6.2. European Cloud Microservices Market, By Organization Size (2022-2029) 6.3. European Cloud Microservices Market, By Application (2022-2029) 6.4. European Cloud Microservices Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Cloud Microservices Market (2022-2029) 7.1. Asia Pacific Cloud Microservices Market, By Type (2022-2029) 7.2. Asia Pacific Cloud Microservices Market, By Organization Size (2022-2029) 7.3. Asia Pacific Cloud Microservices Market, By Application (2022-2029) 7.4. Asia Pacific Cloud Microservices Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Cloud Microservices Market (2022-2029) 8.1. Middle East and Africa Cloud Microservices Market, By Type (2022-2029) 8.2. Middle East and Africa Cloud Microservices Market, By Organization Size (2022-2029) 8.3. Middle East and Africa Cloud Microservices Market, By Application (2022-2029) 8.4. Middle East and Africa Cloud Microservices Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Cloud Microservices Market (2022-2029) 9.1. South America Cloud Microservices Market, By Type (2022-2029) 9.2. South America Cloud Microservices Market, By Organization Size (2022-2029) 9.3. South America Cloud Microservices Market, By Application (2022-2029) 9.4. South America Cloud Microservices Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Amazon Web Services, Inc. (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Atos SE (France) 10.3 Broadcom Inc. (US) 10.4 Contino Solution Ltd. (UK) 10.5 F5 Networks Inc. (US) 10.6 Idexcel Inc. (US) 10.7 Infosys Ltd. (India) 10.8 International Business Machines Corp. (US) 10.9 Macaw Software Inc. (US) 10.10 Marlabs LLC (US) 10.11 Microsoft Corp. (US) 10.12 OPENLEGACY TECHNOLOGIES LTD. (US) 10.13 Oracle Corp. (US) 10.14 RoboMQ (US) 10.15 Salesforce.com Inc. (US) 10.16 SmartBear Software Inc. (US) 10.17 Tata Consultancy Services Ltd. (India) 10.18 Weaveworks Inc. 10.19 Aspire Systems (India) 10.20 Invision (US) 10.21 GitHub Inc. (US) 10.22 CA Technologies (US) 10.23 Pivotal Software, Inc. (US) 10.24 Anjuna Security, Inc. (US) 10.25 Geant Technology, LLC (US)