Cloud Microservice & Application Market

Cloud Microservice & Application Market - An Overview

The global cloud microservice & application market is expected to witness strong during the forecast period between 2021 and 2031.

Microservices refers to an architectural approach of developing cloud applications. Every cloud application comprises a group of services, each with its own set of distinct processes.

The COVID-19 outbreak had a positive impact on the global cloud microservice & application market. With governments’ worldwide imposing lockdowns and strict social distancing regulations, a majority of software companies were forced to operate from home, resulting in emptier workstations at offices.

This led to companies deploying cloud microservices to execute specific tasks, leading to an increase in product demand and helping the growth of the overall cloud microservice & application market.

However, it is uncertain as to whether the demand for cloud microservice & applications will remain the same in the post-COVID phase when employees return to the workplace, once again.

Cloud microservice & application market - Trends and Opportunities

Rising inclination towards microservice architecture and the growing demand for safe, low-cost IT operations globally are the key growth drivers for the cloud microservice & application market.

Also, the increasing adoption of cloud services by leading software companies is expected to provide lucrative growth opportunities for the cloud microservice & application market, in the coming years.

Select companies have also inclined towards deploying private cloud services to their processes in a bid to make data more secure and decrease the overall on-premise IT expenditure.

The emergence of technologies such as Internet of Things is also expected to propel the cloud microservice & application market.

The platform component segment is anticipated to make the largest contribution to the overall cloud microservice & application market, in the coming years.

The hybrid cloud product segment is expected to contribute the most to the overall Cloud microservice & application market, owing to features such as simple architecture, higher operational efficiency, and improved customer experience.

Cloud Microservice & Application Market - Competitive Landscape

The global cloud microservice & application market is extremely competitive, with the presence of several well-established players, many of whom could look to adopt different growth strategies in a bid to gain a competitive edge over other market players.

The leading players are anticipated to account for a large share in the global cloud microservice & application market, in the coming years.

R&D undertakings could emerge as a key growth strategy for prominent players in the global cloud microservice & application market, in the years ahead.

The smaller players in the cloud microservice & application market will seek investments from governments and private investors, which may help them in their long-term growth.

Some of the key players in the cloud microservice & application market include Microsoft, Contino, IBM, Amazon Web Services, CA Technologies, OpenLegacy, Idexel, and Macaw.

Cloud Microservice & Application Market - Regional Assessment

The global cloud microservice & application market has been divided into four regions, namely, North America, Asia Pacific, Europe, and rest of the world.

Asia Pacific is anticipated to witness maximum growth in the global cloud microservice & application market, in the coming years due to the rising digital transformation in countries such as China and an expected rise in demand for microservices architecture in the region.

North America has, in the last few years, accounted for a large share in the global cloud microservice & application market. The region is expected to witness strong growth in future, owing to the presence of several leading market players in countries such as the U.S and Canada.

Europe is anticipated to witness substantial growth in the global cloud microservice & application market as well, owing to the rising awareness about the benefits of these services in countries such as Germany and U.K.

The rest of the world is expected to witness moderate growth in the cloud microservice & application market, in future, owing to lack of awareness about the benefits of cloud microservices.