How Has the Cloud Microservices Market Size Evolved in Recent Years?
The cloud microservices market has seen considerable growth due to a variety of factors.
• In the last few years, there has been a significant expansion in the size of the cloud microservices market. It is projected to expand from a worth of $1.88 billion in 2024 to a worth of $2.27 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 20.7%.
The notable growth in the previous years is due to aspects such as flexibility and modularity, agility and quickness in market entry, resilience and fault tolerance, data privacy and compliance, and the advancement in edge computing and IoT.
What Is The Forecast For The Cloud Microservices Market Size?
The cloud microservices market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for cloud microservices is predicted to experience rapid expansion. It is projected to reach $4.83 billion by the year 2029, with an impressive compound annual growth rate (CAGR) of 20.8%.
This uptick during the forecast period is largely due to factors like the rising demand for hybrid and multi-cloud solutions, the broadening capabilities of edge computing, enhanced security protocols, the fusion with serverless computing, and an emphasis on observation and monitoring. Key market trends to watch for in the forecast period include greater integration with AI/ml services, serverless microservices, event-oriented architectures, developments in microservices security, and automated continuous integration/continuous deployment pipelines.
What Are The Essential Drivers Behind The Growth Of The Cloud Microservices Market?
Boosting retail and e-commerce sectors are projected to accelerate the expansion of the cloud microservices market in the future. Retail involves the direct sale of products or services to consumers via physical outlets or digital platforms, while ecommerce encompasses internet-based buying and selling of goods or services. The growth in these sectors arises from increased internet access, changing customer preferences, and the ease of online shopping. Cloud microservices are extensively employed in retail and ecommerce to construct scalable, adaptable, and robust applications capable of managing the intricacies of contemporary digital trade. For instance, the United States Census Bureau, a government arm in the US, reported a surge in e-commerce from 6.9% in 2022 to 7.6% in 2023. Also, according to the US's National Retail Federation, there was a 7% increase in yearly retail sales, rising from $4.61 trillion in 2021 to $4.94 trillion in 2022. Consequently, the thriving retail and e-commerce industries are steering the escalation of the cloud microservices market.
How Is The Global Cloud Microservices Market Divided Into Key Segments?
The cloud microservices market covered in this report is segmented –
1) By Component: Platform, Services
2) By Deployment: Public, Hybrid, Private
3) By Organization Size: Small And Medium Enterprises (Smes), Large Enterprises
4) By End-User Industry: Banking, Financial Services And Insurance, Retail, E-Commerce, Manufacturing, Telecommunication, Information Technology And Information Technology Enabled Services, Healthcare, Others End-Users
Subsegments:
1) By Platform: Microservices Development Platforms, Container Orchestration Platforms, API Gateway Platforms, Service Mesh Solutions
2) By Services: Microservices Consulting Services, Development And Integration Services, Monitoring And Management Services, Training And Support Services, Security Services For Microservices
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How Are New Trends Impacting The Size Of The Cloud Microservices Market?
Major corporations functioning in the cloud microservices sector are focusing on crafting original products such as the microservices engine in order to offer a complete set of cloud microservices. The engine, which is open-source and ensures high availability, supports the development of microservices and proves advantageous in various business contexts, including the registration and discovery of microservices, distributed scheduling, and integration of other cloud services. Alibaba Cloud, a software company based in China, for example, released the microservices engine (MSE) in March 2022 as an open-source platform inclusive of microservice development. It provides a fully managed registration and configuration center, cloud-native gateways, and the capacity to govern microservices. Furthermore, it aims to boost the open-source microservices ecosystem, enhance performance, observability, and convenience, and provide an efficient, unified and secure platform for cloud-based O&M that is highly available. It is tailored to meet various business requirements, offering perks like improved open-source capabilities, fully managed services, and a range of authentication needs.
Who Are the Key Players In The Cloud Microservices Market?
Major companies operating in the cloud microservices market are:
• Google LLC
• Microsoft Corporation
• Dell Technologies Inc.
• Amazon Web Services Inc.
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Corporation
• Broadcom Inc.
• Hewlett Packard Enterprise Development LP
• Tata Consultancy Services Limited
• Salesforce.com Inc.
• Infosys Limited
• Alibaba Cloud
• Atos SE
• Rackspace Hosting Inc.
• Marlabs Inc.
• Contino Holdings Limited
• Optisol Business solution
• Idexcel Inc.
• OpenLegacy Ltd.
• NGINX Inc.
• SmartBear Software Inc.
• Macaw Software Inc.
• RapidValue Solutions Inc.
• Pivotal Software Inc.
What Are The Regional Insights Into The Cloud Microservices Market?
North America was the largest region in the cloud microservices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud microservices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
