USD 6.4 billion
Cloud Microservices Market Size, Share, Growth Analysis, By Component(Platform and Services (Consulting Services, Integration Services and Training, Support, & Maintenance Services)), By Organization Size(SMEs and Large Enterprises), By Deployment Mode(Public Cloud, Private Cloud and Hybrid Cloud), By Application(Retail and Ecommerce, Healthcare, Media & Entertainment, BFSI), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45D2078 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
62
|Figures:
75
Cloud Microservices Market Insights
Global Cloud Microservices Market size was valued at USD 1.3 billion in 2022 and is poised to grow from USD 1.59 billion in 2023 to USD 8.14 billion by 2031, growing at a CAGR of 22.6% in the forecast period (2024-2031).
The global Cloud Microservices market is experiencing significant growth and transformation driven by the increasing adoption of cloud computing and the demand for agile and scalable software solutions. Cloud microservices offer a modular and distributed approach to application development, enabling organizations to build and deploy applications more efficiently.
This market is characterized by the growing emphasis on DevOps practices, containerization technologies, and the need for faster time-to-market. Additionally, the rising popularity of cloud-native architectures and the migration of legacy applications to the cloud are driving the demand for cloud microservices.
With the benefits of scalability, flexibility, and improved resilience, the global Cloud Microservices market is poised for continued growth as organizations strive for greater agility and innovation in their software development processes.
US Cloud Microservices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Component
Fastest Growth
Component
Growth Rate
21.2% CAGR
Global Cloud Microservices Market ($ Bn)
Country Share for North America Region (%)
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Cloud Microservices Market Segmental Analysis
The global cloud microservices market is segmented by component, organization size, deployment mode, application, and region. Based on component, the market can be segmented into platform and services (consulting services, integration services and training, support, & maintenance services). Based on organization size the market is segmented into SMEs and large enterprises. Based on deployment mode, the market is segmented into public cloud, private cloud and hybrid cloud. Based on application, the market is segmented into retail and ecommerce, healthcare, media & entertainment, BFSI, IT & ITes, government, transportation & logistics, manufacturing, telecommunication and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cloud Microservices Market Analysis by Application
In terms of dominant sub-segments of type, one key area is Performance Testing. Performance testing focuses on evaluating the system's performance under different conditions, including load testing, stress testing, and scalability testing. It ensures that the cloud microservices can handle varying workloads and perform optimally to meet user demands.
The fastest growing sub-segment of type is Security Testing. With the increasing reliance on cloud microservices, security becomes paramount. Security testing involves assessing the vulnerabilities and risks associated with the microservices architecture and ensuring that appropriate security measures are in place to protect sensitive data and prevent unauthorized access.
Cloud Microservices Market Analysis by Type
The dominant sub-segment of type in the Global Cloud Microservices Market is automated testing. Automated testing involves the use of tools and frameworks to automate the testing process, allowing for faster and more efficient testing of microservices. This sub-segment is dominant because it helps ensure the reliability, scalability, and performance of microservices in cloud environments. By automating the testing process, organizations can streamline their development cycles, detect and fix issues more quickly, and deliver high-quality microservices to end-users.
The fastest growing sub-segment of type in the Global Cloud Microservices Market is security testing. With the increasing adoption of cloud-based microservices, security becomes a critical concern. Security testing involves assessing the security vulnerabilities of microservices and implementing measures to protect them from potential threats. This sub-segment is growing rapidly due to the rising importance of securing microservices and ensuring data privacy. Organizations are investing in security testing tools and techniques to identify and mitigate security risks associated with microservices architecture, protecting sensitive data and maintaining the integrity of their cloud environments.
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Cloud Microservices Market Regional Insights
One dominant region in the global Cloud Microservices market is North America. The region has a well-established cloud infrastructure, advanced technological capabilities, and a high adoption rate of cloud-based solutions across various industries. The presence of major cloud service providers and a strong focus on digital transformation initiatives drive the growth of the market in North America. The region benefits from a mature ecosystem of cloud technology providers, skilled workforce, and supportive government initiatives.
One of the fastest-growing regions in the global Cloud Microservices market is Asia Pacific. The region is experiencing rapid digital transformation across industries, driving the demand for cloud-based solutions. Factors such as the increasing adoption of mobile devices, growing internet penetration, and the emergence of startups and SMEs contribute to the market growth. Additionally, the rising investments in cloud infrastructure and government initiatives promoting digitalization further fuel the growth of the Cloud Microservices market in Asia Pacific. The region offers immense growth opportunities for cloud service providers, software vendors, and system integrators.
Global Cloud Microservices Market By Region
- Largest
- Fastest
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Cloud Microservices Market Dynamics
Cloud Microservices Market Drivers
Increasing Demand For Scalable And Flexible It Infrastructure
- One key driver of the global Cloud Microservices market is the increasing demand for scalable and flexible IT infrastructure. Cloud microservices enable organizations to develop and deploy applications in a modular and distributed manner, allowing for easier scalability and agility. This helps businesses to meet the changing demands of their customers and respond quickly to market trends. The ability to scale resources up or down as needed, along with the efficient use of computing resources, is driving the adoption of cloud microservices in various industries.
Cloud Microservices Market Restraints
Concern Regarding Data Security And Privacy
- One major restraint in the global Cloud Microservices market is the concern regarding data security and privacy. As organizations increasingly rely on cloud-based services and share sensitive data across multiple microservices, ensuring the security and privacy of data becomes a critical challenge. Breaches in data security can lead to significant financial and reputational damage for businesses. Therefore, organizations need to implement robust security measures, including encryption, access controls, and data monitoring, to mitigate the risk of data breaches. The complexity of securing microservices and ensuring compliance with data protection regulations can act as a restraint to the widespread adoption of cloud microservices.
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Cloud Microservices Market Competitive Landscape
The global Cloud Microservices market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Cloud Microservices. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Cloud Microservices Market Top Player’s Company Profiles
- IBM Corporation - United States
- Oracle Corporation - United States
- Salesforce.com, Inc. - United States
- Pivotal Software, Inc. - United States
- Red Hat, Inc. - United States
- VMware, Inc. - United States
- SAP SE - Germany
- ServiceNow, Inc. - United States
- Dell Technologies, Inc. - United States
- Cisco Systems, Inc. - United States
- Alibaba Cloud - China
- Tencent Cloud - China
- Huawei Technologies Co., Ltd. - China
- Fujitsu Ltd. - Japan
- NEC Corporation - Japan
- Infosys Limited - India
- Wipro Limited - India
Cloud Microservices Market Recent Developments
- In June 2024, Infogain and Gradial have formed a strategic partnership for transforming marketing content operations for fortune 2000 businesses. This partnership will help in integrating Infogain’s creative strategy and transformation expertise with Gradial's airport automation and will enable large enterprises with multiple digital channels to unify and automate their marketing content operations.
- In March 2024, NVIDIA announce the launch of dozens of enterprise grade generative AI micro services which will help businesses to create and deploy custom applications on their own platforms while retaining full ownership and control of their intellectual property.
- In March 2024, google cloud and NVIDIA announced the partnership for enabling the machine learning community with technology that will accelerate their efforts for easy building commerce scaling and managing generative AI applications.
Cloud Microservices Key Market Trends
- One key market trend of the global Cloud Microservices market is the increasing adoption of microservices architecture by organizations across various industries. Microservices are small, independent services that can be developed, deployed, and scaled independently, allowing for greater flexibility and agility in software development. This trend is driven by the need for businesses to deliver software applications quickly, respond to changing market demands, and improve scalability and resilience. With microservices, organizations can break down monolithic applications into smaller, manageable components, enabling faster development cycles, easier maintenance, and the ability to leverage cloud-based resources. The global Cloud Microservices market is witnessing a surge in demand as businesses recognize the benefits of this architectural approach in enabling faster innovation and digital transformation.
Cloud Microservices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global Cloud Microservices market is experiencing significant growth as organizations increasingly adopt microservices architecture to build scalable and agile applications. Cloud microservices enable the development and deployment of complex applications as a collection of loosely coupled services, allowing for easier maintenance, scalability, and faster time-to-market. These services are designed to be independently deployable and can be developed using different programming languages and frameworks. The market is driven by the increasing demand for cloud-native applications, digital transformation initiatives, and the need for flexible and scalable software solutions. Key players in the market are offering cloud microservices platforms and tools to support the development, deployment, and management of microservices-based applications. The market is expected to witness continued growth as organizations embrace cloud-native approaches to enhance their software development and delivery capabilities.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.3 billion |
| Market size value in 2031 | USD 8.14 billion |
| Growth Rate | 22.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cloud Microservices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cloud Microservices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cloud Microservices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Microservices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Microservices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Microservices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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