Press release
Cloud Microservices Market Is Booming Worldwide | AWS, CA Technologies, Contino, CoScale, IBM , Idexcel, Infosys, Kontena, Macaw Software, Marlabs, Marlabs, Netifi , NGINX, OpenLegacy , Oracle and Others.
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The Global Cloud Microservices Market size is expected to grow from US$ 683.2 Million in 2018 to US$ 1880.0 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period. Digital transformation, proliferation of microservices architecture, and customer-oriented businesses are some of the factors expected to drive the global cloud micro services market.
“Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to hold the largest market size during the forecast period.”
Among the industry verticals, the BFSI vertical is expected to hold the largest market size in the global cloud microservices market during forecast period. The growth in the cloud microservices market, especially in the BFSI vertical, can be attributed to the increasing financial services, IT automation, and reforms in economy and banking services worldwide. The cloud microservices architecture helps BFSI organizations in improving the application development process, streamlining business operations, and enhancing customer experience.
“Asia Pacific (APAC)is expected to grow at the highest CAGR during the forecast period.”
Among the major regions in the market, APAC is expected to grow at the highest growth rate during the forecast period. Technological advancements in various industry verticals, namely, BFSI, government, education, healthcare, transportation and logistics, and retail are expected to drive the market growth in APAC. Currently, most organizations are fairly behind the curve in leveraging cloud microservices platform, but this is expected to change due to the availability of low-cost, cloud-based microservices.
The breakup of the profiles of primary participants is given below:
• By Company: Tier 1 – 22%, Tier 2 – 44%, and Tier 3 – 34%
• By Designation: C-Level – 45%, Director Level – 51%, and Others – 4%
• By Region: North America – 42%, Europe – 25%, APAC – 27%, and Rest of the World (RoW)–6%
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Top Companies in the “Cloud Microservices Market” include are 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), Weaveworks (UK).
Report Highlights:
The main objective of this report is to define, describe, and forecast the global cloud microservices market on the basis of platform, services, deployment types, organization sizes, verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report aims to strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market. The report attempts to forecast the market size with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America.
Target Audience for Cloud Microservices Market:
• Cloud microservices platform and solution vendors
• Cloud services providers
• Cloud microservices providers
• Application developers
• Container services providers
• System integrators
• Third-party vendors
• Cloud microservices end-users
• Government agencies and organizations
• Regulatory and compliance agencies
• DevOps services providers
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