The size of the global cloud microservices market, estimated at USD 1.29 billion in 2022, is anticipated to increase by USD 6.04 billion by 2030, representing a CAGR of 21.6% over the forecast period, from USD 1.54 billion in 2023.
The development of applications using modular components or services is known as "microservices." Using a direct and easily defined interface, such as an Application Programming Interface (API), that makes reference to other sets of services, each module is designed to support particular tasks or business objectives. The microservices model enables developers to take a more decentralized approach to software development.
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Which company dominates the Global Cloud Microservices Market?
- Amazon Web Services, Inc. (U.S.)
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- Salesforce Inc. (U.S.)
- F5, Inc (U.S.)
- Broadcom (U.S.)
- Software AG (Germany)
- Ksolves India Limited (India)
- Datadog (U.S.)
- WeaveWorks (U.K.)
What are the factors driving the growth of the Cloud Microservices Market?
The development of software applications using the microservices architecture has gained popularity among businesses. Instead of creating monolithic applications, the microservices architecture divides an application into smaller, independent services that can develop, deploy, and scale on their own.
What are the market's geographic insights for the Cloud Microservices Market?
This market is researched on a regional level in North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
According to the analysis, the presence of major players in the region adopting cutting-edge technologies is the reason why North America held a significant market share for cloud microservices. Additionally, the adoption of microservices architecture in BFSI, e-commerce, and IT by North American businesses is a contributing factor in the rising demand from these businesses. It contributes to cost savings, increased adaptability, effectiveness, and scalability in the storage of data and information. For USD 1.77 billion in June 2022, the Canadian company Telus acquired the Digital and in-person Health Company Lifeworks, bolstering its position as a cloud-native application provider for employer-based health services.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Cloud Microservices Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Cloud Microservices Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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