Press release
Container as a Service Market Size, Share, Trends And Forecast To 2033
Container as a Service Market share
According to The Business Research Company's, The container as a service market size has grown exponentially in recent years. It will grow from $2.53 billion in 2023 to $3.26 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to rise of microservices architecture, demand for application portability, efficiency in resource utilization, cost savings and resource efficiency, standardization of deployment processes..
The container as a service market will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 30.1%. The growth in the forecast period can be attributed to application modernization initiatives, focus on container security, integration with ci/cd pipelines, microservices architecture, kubernetes dominance.. Major trends in the forecast period include edge computing integration, multi-cloud deployment strategies, container-native development tools, devops integration, automation and infrastructure as code..
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Market Drivers and Trends:
The rise in deployment of hybrid cloud models is expected to propel the growth of the container as a service market going forward. A hybrid cloud model is a computer system that combines on-premises infrastructure with public and/or private cloud services, allowing companies to move workloads between on-premises and cloud infrastructure as needed or to exploit extra cloud capacity. Companies may benefit from the flexibility and scalability of cloud infrastructure while keeping control over their on-premises infrastructure by employing container as a service (CaaS) in a hybrid cloud approach, which can help enterprises improve resource consumption and save costs while also enhancing agility and scalability. For instance, according to Global Hybrid Cloud Trends, a survey conducted among 2,500 IT leaders from 13 countries, specializing in cloud computing, DevOps and enterprising networks with 451 Research by Cisco, a US-based digital communications technology company, a remarkable 82% of IT executives claimed to have used the hybrid cloud. Also, nearly half (47%) are deploying two to three public IaaS (infrastructure as a service) clouds. Just 8% of businesses use more than one public IaaS cloud provider. Therefore, the rising use of hybrid cloud models will drive the container as a service market.
Technological advancements are a key trend gaining popularity in the container as a service market. Major companies operating in the container as a service market are focused on developing advanced technologies to strengthen their position in the market. For instance, in March 2023, Huawei Technologies, a China-based technology corporation, launched the industry's first dual-engine container solution. It is designed to build a carrier-grade, fully converged telco cloud foundation that will enhance network performance and reliability and ease the transition to a 5.5G future. This solution enables operators to adapt containers to their current networks through capacity extension rather than a new deployment, enables both VMs and containers to be managed in accordance with ETSI standards, and supports resource sharing. All of this accelerates time to market and tightens integration (TTM).
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Cisco Systems Inc.; International Business Machines Corp.; Amazon Web Services Inc.; Google LLC; Microsoft Corporation; Docker Inc.; CoreOS LLC; Dh2i Co.; Giant Swarm GmbH; Hewlett Packard Enterprise Company; Oracle Corporation; SUSE SA; VMware Inc.; Red Hat Inc.; Tata Communications International Pte Ltd.; Alibaba Cloud Computing Beijing Co Ltd.; DXC Technology Co.; Rancher Labs Inc.; Mesosphere Inc.; Mirantis Inc.; Vmware; Palo Alto Networks Inc.; Joyent Inc.; Jelastic Inc.; Kontena Inc.; OpenAI Inc.; Weaveworks; NuoDB Inc.; Portworx Inc.; Sysdig Inc.; Kasten Inc.; Shippable Inc.; Oracle Wercker; Cloud 66 Ltd.
Container as a Service Market 2024 Key Insights:
• The container as a service market will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 30.1%.
• Hybrid Cloud Adoption Boosts Container As A Service Market Growth
• Cutting-Edge Technological Advancements Drive Evolution In Container As A Service Market
• North America was the largest region in the container as a service market in 2023
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Learn More About The Business Research Company
The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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