Market Research 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
|Published by||MarketsandMarkets||Product code||650389|
|Published||Content info||141 Pages
|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|
|Published: June 6, 2018||Content info: 141 Pages||
The global cloud microservices market size is expected to grow from USD 683.2 million in 2018 to USD 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 microservices market. However, security and compliance may restrain the growth of the market.
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.
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. China, India, Japan, South Korea, and Australia are some of the APAC countries expected to constitute a major portion of the global cloud microservices market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the cloud microservices market.
The breakup of the profiles of primary participants is given below:
The key cloud microservices vendors profiled in the report are as follows:
The cloud microservices market has been segmented on the basis of component (platform and services), deployment mode, organization size, vertical, and region. A detailed analysis of the key industry players has been done to provide insights into their business overview; services; key strategies; new service launches; partnerships, agreements, and collaborations; expansions; and competitive landscape associated with the global cloud microservices market.
The report will help market leaders/new entrants in the following ways:
*Details on Business Overview, Services Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.