Cloud Microservices Platform Market Registering a CAGR Of 21.2% From 2022-2031

Benefits of microservices architecture like flexibility, scalability, & faster deployment of applications drive the cloud microservices platform market growth.

PORTLAND, OR, UNITED STATES, September 25, 2024 /EINPresswire.com/ — According to the report, the global cloud microservices platform market size generated $952.6 million in 2021 and is anticipated to generate $6.4 billion by 2031, witnessing a CAGR of 21.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

The growing adoption of microservices architecture offers benefits such as flexibility, scalability, and faster deployment of applications. This drives the growth of the cloud microservices platform market. The microservices architecture allows for software to be developed and deployed in smaller and more flexible components, which can be scaled up or down as needed. This approach is particularly appealing for companies that need to adapt quickly to changing business needs. This factor is expected to create opportunities in the cloud microservices platform market. However, a lack of standardization and a distributed & decentralized environment restrains the cloud microservices platform market growth.

Download Sample Report (Get Full Insights in PDF – 290 Pages) at: https://www.alliedmarketresearch.com/request-sample/A53708

Covid-19 Scenario

1. The COVID-19 pandemic had a mixed impact on the cloud microservices platform market. It made more businesses turn to remote work settings and online business models, which accelerated the adoption of cloud-based solutions and services. This increased the need for cloud-based microservices platforms that helped businesses effectively create, deploy, and manage their cloud-based applications.

2. The pandemic also highlighted the need for adaptable, scalable solutions that can rapidly change to meet shifting business requirements. These advantages are provided by cloud microservices platforms by offering independent, modular services that are simple to combine and scale as needed. As a result, technology vendors and providers increased their investment in and development of cloud-based microservices platforms.

3. However, the pandemic also forced many organizations to reduce expenses, which slowed the adoption of new technologies. Due to concerns about data security and privacy in the cloud during the post-pandemic period, some businesses were also hesitant to invest in cloud microservices platforms.

Based on component, the platform segment held the largest share in 2021, garnering nearly three-fifths of the global cloud microservices platform market revenue, and is projected to maintain prominent revenue growth in 2031. This is due to the increasing demand for efficient and scalable microservices architecture. Furthermore, the services segment would showcase the fastest CAGR of 21.5% during the forecast period. Cloud microservices platforms, which provide a variety of services to help organizations build, deploy, and manage microservices-based applications in the cloud, fuel the segment’s growth.

For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/A53708

Based on deployment type, the public segment contributed to more than two-fifths of the global cloud microservices platform market share in 2021, and is projected to rule the roost by 2031. The segment is growing owing to the increasing demand for scalable, flexible, and agile cloud-based solutions that can support the development and deployment of microservices-based applications. However, the hybrid segment would display the fastest CAGR of 21.4% during the forecast period. Business organizations have more control over their data in a hybrid cloud environment.

Based on region, North America held the major share in 2021, garnering nearly one-third of the global cloud microservices platform market revenue, and is expected to dominate by 2031. This is because North America is home to some of the world’s largest cloud service providers, including Amazon Web Services, Microsoft Azure, and Google Cloud Platform. These providers are leading the way in the adoption and implementation of the microservices architecture. Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 21.7% during the forecast period. The Asia-Pacific region is estimated to grow due to the presence of a large number of organizations from small to large scale, that require cloud-based platforms.

Leading Market Players

Microsoft Corporation

Cisco Systems

Tata Consultancy Services Limited

Oracle Corporation

Infosys Ltd.

SAP SE

Salesforce.com

IBM CORPORATION

Amazon Web Services Inc.

F5 Networks, Inc.

The report provides a detailed analysis of these key players in the global cloud microservices platform market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of the market players.

Buy Now & Get Exclusive Report at: https://www.alliedmarketresearch.com/cloud-microservice-platform-market/purchase-options

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Contact:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Toll-Free: 1-800-792-5285

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1-855-550-5975

help@alliedmarketresearch.com

Web: https://www.alliedmarketresearch.com

Follow Us on: LinkedIn Twitter

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X

EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.