Cloud Microservices Market Size Analysis Revealing Key Drive...| MENAFN.COM

Tuesday, 07 February 2023 11:41 GMT

Cloud Microservices Market Size Analysis Revealing Key Drivers & Growth Trends Through 2033

(MENAFN- America News Hour)

Market Overview
The cloud microservices market was valued at USD 831.45 billion and is expected to reach USD 2701.36 billion, at a CAGR of 21.7% over the forecast period. As Kubernetes adoption grows, companies will start realizing that it is not enough to simply adopt it, but that they will need to change all aspects of their processes, tools, and architecture. Kubernetes will be a big push for deep company-wide changes. It provides a good way to manage containers and make microservices architectures practical at enterprise scale.
– Proliferation of the microservices architecture is driving the market as microservices architecture encourages to break application into smaller components. This makes it easy to apply changes. Deploying such components does not end up impacting a large part of the codebase. It is quite common for such an architectural style to be adopted for cloud native applications using lightweight container deployment because of the large number of services, decentralized continuous delivery and DevOps.
– Adoption of hybrid cloud across various end-user industries is driving the market as plenty of enterprises today are in different stages of cloud adoption and hybrid cloud gives them maximum flexibility to explore new products and business models. As IT's role has grown, the load on the data center is growing and investing money in upgrading computing or storage is costly, but hybrid cloud applications is cost effective which also drives the market.
– Security and compliance is restraining the market to grow as container can develop more software development environments but, it leads to arrival of new security risks that affect compliance. Cyber attackers can benefit themselves from vulnerabilities inside the permission settings of cloud architecture for reaching services, which comprises of sensitive data too.
Scope of the Report
The cloud microservices market are independent applications which is a distinctive method of developing software systems that tries to focus on building single-function modules through cloud. Microservices architecture and digital transformation is driving the market and 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.
Click Here to Download Sample Report

Key Market Trends
Manufacturing Sector is Expected to Register a Significant Growth

– Due to the advancement in intelligent technology, the demand for microservice cloud is increasing in manufacturing sector as the traditional automation pyramid is dissolving and manufacturing IT is moving towards service orientation and app-orientation.
– AWS (Amazon Web Services) pay-as-you-go microservices and serverless computing models reduces the cost of running the connected manufacturing plant or smart product programs with minimum upfront investment and nearly unlimited on-demand capacity.
–“Cloud network manufacturing” provides a new way to business as manufacturing companies found that they may not survive in the competitive market without the support of Information Technology (IT) and computer-aided capabilities. Microsoft is the dominant core technology supplier to the manufacturing industry which respectively provide manufacturers a digital twin of their OPC
(Open platform communication) UA-enabled machines and significantly enhance security and certification management. Here customers can control and manage their OPC twins directly from the cloud by using microservices running on Azure.
– ThyssenKrupp, a German multinational conglomerate drew upon IoT technology to connect its elevators to the microservice cloud. Data collected from an elevator's sensors allows algorithms to process that information data and predict when maintenance is required before the elevator breaks down. This predictive maintenance is further enhanced by the use of augmented reality, with elevator technicians utilizing Microsoft HoloLens to receive remote, hands-free instructions from experts while they're in the field.
North America to Account for Largest Market Share
– Due to the increasing adoption of advanced technologies, this region is gaining a high market share. Moreover, there is an increasing demand from North American companies, as they have adopted microservices architecture in financial, e-commerce, and travel services, which help in storing information and data cost-effectively and increasing the agility, efficiency, and scalability.
– Digital Transformation technologies and services spend in Canada are set to exceed USD 16 billion sustained by the investment in emerging technologies, such as the cognitive/artificial intelligence (AI) systems, IoT, next-generation security, augmented reality or virtual reality, 3D printing, and robotics, which drives the cloud microservices.
– Walmart Canada refactored its software architecture to micoservices. The company, which had not been able to handle the 6 million page views per minute it was getting at the time, realized instant results with a significant increase in its conversion rate overnight. Downtime was minimized, too, and the company was able to replace expensive commodity hardware with cheaper virtual x86 servers, resulting in an overall cost savings between 20 and 50 percent. This gives a demand of cloud microservice in this sector.
– In United States, Microservices with IBM Cloud Functions and Cloud Foundry deploy a storefront shopping application that displays a catalog of antique computing devices where customers can make purchases and add review comments, which efficiently increase the growth of market.
Competitive Landscape
The cloud microservices market is fragmented and the major players have used various strategies such as new product launches, partnerships, acquisitions, and others in various deployment mode such as public, private and hybrid cloud, to increase their footprints in this market in order to sustain in long run. Key players are Amazon Web Services Inc., Microsoft Corporation, IBM Corporation, etc. Recent developments in the market are –
– May 2019 –
Informatica, the enterprise cloud data management leader, announced the industry's first microservices-based 360 solution for reference data management. It provides the trusted, accurate, and complete reference data that enterprises need for their digital transformation initiatives, including customer experience programs, marketing and sales operations, omnichannel retailing, supply chain optimization, and governance and compliance efforts.
Download Sample PDF of this Report: –

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Proliferation of the Microservices Architecture
4.3.2 Adoption of Hybrid Cloud Across Various End-User Industries
4.4 Market Restraints
4.4.1 Security and Compliance
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
6.1 By Deployment Mode
6.1.1 Platforms
6.1.2 Service
6.2 By Enterprise Size
6.2.1 Small and Medium Enterprises
6.2.2 Large Enterprises
6.3 By End-user Industry
6.3.1 BFSI
6.3.2 Retail
6.3.3 Manufacturing
6.3.4 Telecommunications
6.3.5 IT and ITes
6.3.6 E-Commerce
6.3.7 Healthcare
6.3.8 Other End-user Industries
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East & Africa
7.1 Company Profiles
7.1.1 Amazon Web Services Inc.
7.1.2 Microsoft Corporation
7.1.3 IBM Corporation
7.1.4 Inc.
7.1.5 Tata Consultancy Services Limited
7.1.6 Broadcom Inc. (CA Technologies)
7.1.7 VMware Inc. (Pivotal Software Inc.)
7.1.8 Infosys Ltd.
7.1.9 Oracle Corporation
7.1.10 NGINX Inc.
7.1.11 Syntel Inc.
7.1.12 Idexcel Inc.
7.1.13 RapidValue IT Services Private Limited


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.