Micro services are the architectural approach for developing cloud applications, where every application is made as a suite of services or modular components. These services run its own processes and communicate via an application programming interface (API) to assist specific business task. Cloud micro services help in building and installing business applications.
MARKET SCOPE
The "Global Cloud Microservices Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the cloud microservices market with detailed market segmentation by deployment type, enterprise size, application, and geography. The report provides key statistics on the market status of the leading cloud microservices market players and offers key trends and opportunities in the market.MARKET SEGMENTATION
- Based on deployment type, the global cloud microservices market is segmented into private, public, and hybrid.
- On the basis of enterprise size , the market is segmented into SMEs and large enterprises.
- Based on application, the market is segmented into BFSI, media and entertainment, government, healthcare, transportation and logistics, retail, and others.
MARKET DYNAMICS
Drivers:
- The factors driving the cloud micro services market is, with rapid enhancement in advanced technologies, use of connected devices and digital solutions is gaining high momentum due to which, the scope of digital transformation is getting broader. In this respect, cloud micro services helps in deploying these applications in a better way to ensure appropriate customer involvement. The cloud micro services market is growing at an exponential rate.
- Continuous increase in the use of the cloud-based application is expected to further create tremendous opportunities for cloud micro services market as the new architecture offers better scalability and cost-efficient solutions.
Restraints:
- Security concerns may hamper the growth of the cloud microservices market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The cloud microservices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the cloud microservices market in these regions.
IMPACT OF COVID-19 ON CLOUD MICROSERVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the cloud microservices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from cloud microservices market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the cloud microservices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- CA Technologies, Inc.
- Infosys Limited
- IBM Corporation
- Microsoft Corporation
- NGINX Inc.
- OpenLegacy
- Pivotal Software, Inc.
- Salesforce.com, inc.,
- Software AG
- Syntel, Inc. (Atos SE)
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.