Market Synopsis
The data analysts at Market Research Future Reports (MRFR) have conducted a thorough analysis of the global cloud microservices market is estimated to be valued at USD 6.80 billion, thriving at a CAGR of 20.45% during the assessment period. The growing number of microservices architectures is anticipated to affect the global cloud microservices market in 2020. Besides, the increasing demand for secured IT operations and cheap cost methods have further led to market expansion. Furthermore, the inclination of enterprises towards the private cloud for data security is projected to play an important part in market expansion. Also, the growing need to minimize the on-premise IT deployment cost is another pivotal factor leading to the growth of the market. However, insufficient technical expertise and the expenses related in the initial stage are anticipated to refrain the market from expanding.
However, the outbreak of COVID-19 has resulted in a pause in the daily operational activities of the global cloud microservices market. The offices have been temporarily shut to contain the spread of coronavirus. Thorough research is being carried out on the impact of coronavirus on the worldwide market. We will provide an impact analysis report on COVID-19.
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Key Players
The established players of the global cloud microservices market are Software AG (Germany), CA Technologies, Amazon Web Services (US), IBM Corporation (US), Salesforce.com Inc (US), Microsoft Corporation (US), Infosys Limited (India), Syntel (US), Oracle Corporation (US), SmartBear Software (US). The other players contribute 30-35% in the cloud microservices market. Some of them are CoScale (Belgium), Contino (UK), Idexcel (US), Macaw (US), Kontena (Finland), Marlabs (US).
Market Segmentation
The worldwide cloud microservices market can be distinguished on the basis of organization size, component, deployment, verticals, and geography.
On the basis of organization size, the worldwide cloud microservices market can be distinguished into large enterprise and small and medium-sized enterprises.
On the basis of component, the global cloud microservices market can be distinguished into platform and services.
On the basis of deployment, the worldwide cloud microservices market can be distinguished into the public cloud, private cloud, and hybrid cloud.
On the basis of verticals, the worldwide cloud microservices market can be distinguished into healthcare, retail and e-commerce, media entertainment, IT telecommunication, BFSI, government, transportation and logistics, and manufacturing.
On the basis of geography, the worldwide cloud microservices market can be distinguished into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Regional Analysis
The global Cloud microservices Market is estimated to expand significantly during the assessment period. Thorough research of North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been performed. As per the study, North America is estimated to dominate the global market. It is one of the most lucrative markets, and besides, it is also one of the early adopters of microservices architecture. Several sectors are relying on technology and are actively adopting cloud microservices. Europe attains the second position. Europe is a potential market and generates a significant amount of revenue during the assessment period. The most significant factor resulting in the market expansion is the presence and participation of the developed economies such as the UK, and Germany. On the other side, the APAC region is anticipated to be the fastest-growing region. The most pivotal factor leading to market expansion is the deployment of several organization in the APAC region due to the cheap cost in providing services to customers.
However, the market dynamics are estimated to be affected significantly due to the outbreak of COVID-19. Several regions have been affected due to the observation of the lockdown.
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