Cloud Micro Services Market is segmented by Type (Public Cloud, Private Cloud and Hybrid Cloud), by Application (Retail & Ecommerce, Healthcare, Media & Entertainment, Banking, Financial Services & Insurance, IT & ITes, Government, Transportation & Logistics, Manufacturing, Telecommunication and Others), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Market Definition / Research Scope
For the purpose of this market research report, Cloud Micro Services is defined as the process of developing cloud applications. The applications developed serve different purposes and provide varying services. These applications communicate with the use of Application Programming Interface (APIs). The microservices focus on a single process like data search, logging function, or web service function. This allows flexibility and efficiency as these microservices are grouped together to form microservices. One of the advantages of microservices is that if a sub-service malfunctions, it can be healed by orchestration tools without human intervention. As this allows creation of small teams, they work faster than large teams.
Cloud Micro Services Market shall reach a value of $2x61.4 Million in 2032, growing with a CAGR of 12.13% during the forecast period of 2022 to 2032.
Cloud Micro Services Market Growth and Trends
Using digital solutions, mobile devices, and IT systems are becoming more prevalent in todays business environment as technology advances rapidly. The rapid rise in technological advancements has paved the way for digital transformation. Globally, companies are adopting new applications across their verticals to engage customers in innovative and captivating ways. Moreover, in order to meet organizational needs totally, these new applications need to be deployed in an agile environment, allowing for quick and responsive development while also ensuring optimal security performance and cost-effectiveness. Microservices architecture enables enterprises to quickly build and deploy business applications. Compared to monolithic architecture, it offers greater flexibility in developing applications. Benefits include faster Time to Market (TTM), scalability, and lower operational costs. Moreover, microservices help businesses reduce the complexity of the software development process. As a result, businesses are adopting the cloud microservices approach to develop advanced business applications.
Since, COVID-19 recently spread around the world, the demand for cloud services has increased, affecting the cloud microservices until the end of 2021. Cloud services are in demand due to a lack of skilled workers and the need for remote monitoring and working. Microservices architecture is driving the market as it encourages the application to be broken up into smaller components. This makes updating the application easier. A majority of the codebase is not affected by deploying such components. The use of lightweight containers for cloud-native applications is quite common. There are many services, continuous delivery is decentralized, and DevOps is used. As many enterprises are in different stages of cloud adoption, hybrid cloud adoption is driving the market. The hybrid cloud gives enterprises maximum flexibility to explore new products and business models. With the growth of IT, the load on the data center has increased. Upgrading computing and storage is costly, but hybrid cloud applications are cost-effective, which also drives the market. Security and compliance issues are inhibiting market growth. It can create more software development environments, but it introduces new security risks that affect compliance. Cyberattackers can gain access to sensitive information by exploiting vulnerabilities inside the permission settings of cloud architecture.
Cloud Micro Services Market Segmentation
Due to the growing purchasing power of consumers, retail is one of the fastest-growing verticals. In response to the proliferation of the online market, retailers are adopting innovative technologies such as cloud computing, big data analytics, digital stores, and social media networks. The ever-increasing competition in this sector makes customer experience a very important differentiator among the array of online shopping options. Negative customer experiences can lead to retailers and eCommerce vendors losing customers. Thus, cloud microservices methodologies have been highly adopted in the eCommerce and retail vertical because of their benefits, such as improved operational efficiency, simple architecture, easy deployment, faster time-to-market, and improved customer experience. Additionally, the need to improve sales, customer satisfaction, and brand image, as well as the mounting data generation are forcing enterprises in the retail and eCommerce sectors to adopt cloud microservices. Due to these factors, retailers are adopting cloud microservices to enhance customer satisfaction. To achieve these goals, retailers need to be able to scale to handle big data workloads and offer on-demand access to accurate information. So, retailers are interested in adopting cloud-based microservices, since these services offer various benefits, including reduced time-to-market and seamless application updates.
Using cloud microservices architecture, organizations can manage large volumes of complex processes efficiently, improving the customer experience. With the cloud microservices platform, media and entertainment companies are developing new and better ways to enhance their digital supply chains while reducing OPEX and offering a better customer experience. Cloud-based microservices, in addition, help enterprises keep an eye on containerized applications, in case their users access digital content in large numbers at any time. SMEs and large enterprises in this vertical are rapidly embracing cloud microservices methodologies due to their benefits. Cloud microservices are used by companies in this vertical, including Netflix, BBC, Hulu, and Sony Pictures Entertainment.
Cloud Micro Services Market Regional Analysis
The proliferation of microservices architecture and next-generation cloud infrastructure will compile together to drive the cloud microservices market globally. North America is segmented to account for the largest shares of the market owing to increasing demand from major companies with the fast adoption of microservices architecture in finance, e-Commerce, and travel.
The Asia Pacific region too is estimated to register a prospective growth attributed to digital transformation technologies and services expenditure in the region. While Europe is expected to streamline its growth parameter equally with Cloud Foundry deployment that displays a catalog of computing devices for customers, the Middle East is expected to witness its manufacturing sector expanding the cloud microservices market.
Cloud Micro Services Market Share and Competition
Key companies operating in this industry are: AWS, CA Technologies, IBM, Microsoft, Salesforce, Infosys, NGINX, Oracle, Pivotal Software, Syntel, SmartBear Software, Marlabs, RapidValue Solutions, Kontena, Macaw Software, Unifyed, RoboMQ, Idexcel, Weaveworks, Contino, OpenLegacy, CoScale, Software AG, Netifi and TCS. CA Technologies announced enhancements to the companys DevOps portfolio in recent years, including the Continuous Delivery portfolio and CA Digital Experience Monitoring. It would speed up and automate development and release, improve testing, and give unprecedented insight into digital experiences. Earlier this year, IBM, Lyft, and Google announced the launch of Istio, an open-source technology that enables developers to manage a network of microservices securely. It is based on Kubernetes. Microsoft introduced Azure Service Fabric, a microservices platform for building cloud-based business applications.
Cloud Micro Services Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Public Cloud
• Private Cloud
• Hybrid Cloud
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Retail and Ecommerce
• Media and Entertainment
• Banking, Financial Services, and Insurance
• IT and ITes
• Transportation and Logistics
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of the World
Cloud Micro Services Market Companies
• CA Technologies
• Pivotal Software
• SmartBear Software
• RapidValue Solutions
• Macaw Software
• Software AG
United States Cloud Micro Services Market Research Report
Europe Cloud Micro Services Market Research Report
Asia Pacific Cloud Micro Services Market Research Report
India Cloud Micro Services Market Research Report
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