The cloud microservices market is expected to register a CAGR of 21.64%, during the forecast period (2018-2023). The report profiles the providers of cloud microservices solutions, for various end users.
The proliferation of the microservices architecture and digital transformation are boosting the growth of the cloud microservices market. IT modernization is also contributing significantly to the growth of the market. The market studied is witnessing an increase in the adoption of cloud-based applications, which is fueling the growth of the market. Cloud microservices are gaining popularity among companies that need greater scalability and agility. In businesses across the industries, i.e., from telecommunications and retail to the financial services and manufacturing, IT teams are choosing cloud microservices, to develop new applications and break down monoliths. However, security and compliance concerns are hampering the growth of the cloud microservices market.
BFSI End-user Industry Expected to Account for the Largest Market Size
Among the end-user industries, the BFSI segment is expected to account for the most significant market size, during the forecast period (2018-2023). The growth in the cloud microservices market, in BFSI, can be attributed to the growing financial services, IT automation, and reforms in banking services, worldwide. The cloud microservices architecture helps BFSI companies, by improving the application development process, enhancing the customer expectation, and streamlining the business operations. The legacy applications in the insurance industry have typically posed numerous challenges in realizing the goals of the insurer. Steps are being considered by most insurers to modernize their IT systems, and one such step is the adoption of microservices. The transformation from a monolithic architecture toward a microservices architecture is supposed to ensure more autonomy/independence, speed to market, etc., in the insurance industry.
Asia-Pacific Expected to Witness the Highest Growth Rate
The Asia-Pacific region is anticipated to witness the highest CAGR, over the forecast period (2018-2023). The organizations from numerous end-user industries, are increasingly moving their applications to the cloud, and adopting a hybrid cloud approach, with no sign of the trend abating. Technological advancements in industry verticals, such as BFSI, healthcare, IT, and retail, are anticipated to drive the market’s growth, in the region. Microservices that are built, shipped, and deployed, using the container technology, are forming the new application platform, in the cloud environment, in the region.
Currently, most organizations are somewhat behind the curve in leveraging the cloud microservices platform, but this is projected to change, due to the availability of low-cost, cloud-based microservices. Japan, China, India, and Australia are some of the countries in the region that are anticipated to constitute a significant portion of the cloud microservices market. India and China are cloud powerhouses in the Asia-Pacific region, due to government-led cloud initiatives. Moreover, the region is witnessing the use of cloud microservices, to enhance the application development process and meet the demands of dynamic customers.
Key Developments in the Market
- Apr 2018: NGINX Inc. announced application platform enhancements to simplify microservices deployment. Among the new capabilities that extend the NGINX Application Platform are - NGINX Controller R1, NGINX Plus R15, and NGINX Unit 1.0. NGINX Plus is built on top of the open-source NGINX application platform, which consists of a software load balancer, web server, and content cache.
- Oct 2017: Oracle announced major advancements to the Oracle Application Development Platform, making it even more open, modern, and easy to use. One among the advancements is the Oracle Container Pipelines, a full container lifecycle management service, based on the Wercker acquisition, for continuous integration and delivery of microservice applications.
Major Players: Amazon Web Services Inc., CA Technologies, IBM Corporation, Salesforce.com Inc., Tata Consultancy Services Limited, Pivotal Software Inc., Infosys Ltd, Oracle Corporation, NGINX Inc., Syntel Inc., Idexcel Inc., and RapidValue IT Services Private Limited, among others.
Cloud Microservices Market Report Summary
Cloud Microservices Market
The cloud microservices market report offers an insight into the latest trends, growth prospects, industry competitiveness, major players, value/supply chains, regional market shares, and forecast until 2023.
Reasons to Purchase this Report
- Analysis of various perspectives of the market, with the help of Porter’s five forces analysis
- The segments that are expected to dominate the market
- Regional analysis of the market during the forecast period
- Latest developments, market shares, and strategies employed by the major market players and key innovators
- 3-month analyst support, along with the market estimate sheet (in Excel)
Customization of the Report
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1.1 Key Deliverables of Cloud Microservices Market Study
1.2 Cloud Microservices Market Definition
1.3 Cloud Microservices Market Study Assumptions
2. Research Methodology
3. Executive Summary
4. Cloud Microservices Market Insights
4.1 Cloud Microservices Market Overview
4.2 Industry Attractiveness – Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products or Services
4.2.5 Degree of Competition
4.3 Technology Roadmap
5. Cloud Microservices Market Dynamics
5.1 Factors Driving the Cloud Microservices Market
5.1.1 Proliferation of the Microservices Architecture
5.1.2 Digital Transformation
5.1.3 Adoption of Hybrid Cloud across Various End-user Industries
5.2 Factors Restraining the Cloud Microservices Market
5.3 Security and Compliance
6. Global Cloud Microservices Market Segmentation
6.1 Cloud Microservices Market by Deployment Mode
6.1.1 Public Cloud
6.1.2 Private Cloud
6.1.3 Hybrid Cloud
6.2 Cloud Microservices Market by Service
6.2.1 Managed Service
6.2.2 Professional Service
6.3 Cloud Microservices Market by Organization Size
6.3.1 Small and Medium Enterprises
6.3.2 Large Enterprises
6.4 Cloud Microservices Market by End-user Industry
6.4.5 IT and ITeS
6.4.8 Other End-user Industries
6.5 Cloud Microservices Market by Region
6.5.1 North America
6.5.4 Latin America
6.5.5 Middle East & Africa
7. Competitive Intelligence – Company Profiles of Cloud Microservices Market
7.1 Amazon Web Services Inc.
7.2 Microsoft Corporation
7.3 CA Technologies
7.4 IBM Corporation
7.5 Salesforce.com Inc.
7.6 Tata Consultancy Services Limited
7.7 Pivotal Software Inc.
7.8 Infosys Ltd
7.9 Oracle Corporation
7.10 NGINX Inc.
7.11 Syntel Inc.
7.12 Idexcel Inc.
7.13 RapidValue IT Services Private Limited
*List not Exhaustive
8. Investment Analysis of e Global Cloud Microservices Market
9. Future of the Global Cloud Microservices Market