Global Cloud Microservices Market Insights Forecasts to 2032

• The Global Cloud Microservices Market Size was valued at USD 1.31 Billion in 2022.
• The Market Size is Growing at a CAGR of 20.49% from 2022 to 2032
• The Worldwide Cloud Microservices Market is expected to reach USD 8.45 Billion by 2032
• Asia Pacific is expected to Grow the fastest during the forecast period

The Global Cloud Microservices Market Size is expected to reach USD 8.45 Billion by 2032, at a CAGR of 20.49% during the forecast period 2022 to 2032.

Cloud microservices are an architectural method for developing applications for software or functions as a distributed collection of independently deployable and manageable modules that run various application services. Each service serves a distinct purpose and communicates with others through well-defined application programming interfaces (APIs). This approach to software development allows for faster application development and scalability than a traditional monolithic approach. Furthermore, accelerated technological advancements have led to a growing reliance on digital solutions, linked devices, and IT systems in today's business environment. The rapid pace of technological advancement has enabled the expansion of digital transformation. Businesses around the world are excitedly integrating new apps across their many industries to engage clients in unique and fascinating ways. To fully meet the organizational demands, these new apps must also be implemented in an agile environment to ensure rapid development and responsiveness while maintaining top-notch security performance and cost-effectiveness. Using the microservices architecture, businesses can quickly develop and implement business applications. It provides more application development flexibility than a monolithic design. It has several benefits, including a shorter Time to Market (TTM), scalability, and lower operating costs.

Driving Factors

The need to improve sales, customer satisfaction, and brand image, as well as increased data generation, are driving enterprises in the retail and eCommerce vertical to adopt cloud microservices. These factors are influencing retailers to adopt new technologies, which is driving the adoption of cloud microservices to improve customer satisfaction. To achieve these objectives, retailers must have the scalability to handle big data workloads and provide on-demand access to relevant information. Furthermore, the growing acceptance of cloud services, the increasing need for low-cost and secure IT operations, and the increased use of microservices architecture are the primary drivers driving the global cloud microservices market. These are the key market drivers that are boosting market growth.

Restraining Factors       

The process of converting current monolithic applications to microservices architecture can be difficult and resource-intensive. Legacy systems may be difficult to adapt to microservices, and rewriting or redesigning applications can be time-consuming and expensive. Organizations with significant investments in legacy systems may be hesitant to embrace microservices due to perceived risks and costs associated with migration, affecting the growth and popularity of the cloud microservices market.

Market Segmentation

By Component Insights

The services segment dominates the market with the largest revenue share over the projection period.

On the basis of components, the global cloud microservices market is segmented into services and platforms. Among these, the services segment is dominating the market with the largest revenue share over the projection period. Cloud microservices offer greater control over resources and computing power, allowing users to scale each service on their own based on their needs. The microservices architecture enables organizations to create more than just independent services, as well as establish teams to support each service and implement a DevOps approach.

By Deployment Mode Insights

The hybrid segment is witnessing significant CAGR growth over the anticipation period.

On the basis of deployment mode, the global cloud microservices market is segmented into private cloud, public cloud, and hybrid cloud. Among these, the hybrid segment is witnessing significant growth over the anticipation period. The hybrid cloud has the highest market demand due to its advantages over the other two installation groups in terms of adaptability, scalability, and cost-effectiveness. When compared to other cloud-based or non-cloud-based alternatives, a hybrid cloud is a better choice. Advantages include scalability, security, affordability, control, and speed.

By Organization Size Insights

The large enterprises segment is expected to hold the largest share of the global cloud microservices market during the forecast period.

Based on the organization size, the global cloud microservices market is classified into large enterprises and SMEs. Among these, the large enterprises segment is expected to hold the largest share of the cloud microservices market during the forecast period. The highest income was generated by the large enterprise category. Because of their commitment to streamlining the administration and maintenance of cloud-native apps, large corporations dominate the industry. The segment's growth is primarily due to the need of major organizations for higher-quality goods and an efficient development process.

By End-User Insights

The healthcare segment accounted for the largest revenue share over the forecast period.

On the basis of end users, the global cloud microservices market is segmented into BFSI, retail, e-commerce, manufacturing, it & telecommunications, healthcare, and others. Among these, the healthcare segment dominates the market with the largest revenue share over the forecast period. The significant growth of cloud microservices in healthcare is due to several benefits that contribute to reducing process complexity and the need for improved health service functionality. Furthermore, companies are collaborating to deliver the most recent cloud-native technologies. The healthcare segment is primarily driven by rising demand for automation that enables rapid service deployment.

Regional Insights

North America dominates the market with the largest market share through the estimation period.

North America is dominating the market with the largest market share through the estimation period. Microservices architecture is being used by North American businesses in financial, e-commerce, and travel services, and demand is increasing. Microservices architecture aids in the cost-effective storage of information and data while also increasing agility, efficiency, and scalability. Furthermore, the dynamic nature of industries like e-commerce, finance, and healthcare demands agile and scalable applications, making cloud microservices an obvious fit. Adoption is also accelerated by the presence of major cloud service providers such as AWS, Microsoft Azure, and Google Cloud.

Asia Pacific is expected to grow the fastest during the projected period. Businesses in the area may be encouraged to adopt cloud computing due to the high demand for increased resilience and adaptability. Customers across the region are looking beyond traditional digital transformation efforts toward cloud innovation as an internal strategy to achieve real business value and resilience in a time of dynamic operating environments and distributed staff. Developing economies such as India, Japan, and China have made significant contributions to the region's cloud microservices platform adoption.

List of Key Market Players

• Infosys Limited
• Amazon Web Services, Inc.
• Atos SE
• Broadcom
• dexcel Inc.
• Tata Consultancy Services Limited
• IBM Corporation
• Oracle
• Salesforce, Inc
• CA Technologies
• AWS
• Contino
• RapidValue Solutions
• Others

Key Market Developments

• In May 2023, F5, Inc. announced the ability to easily extend application and security services to one or more public cloud, hybrid deployment, native environment, Kubernetes, and edge sites. F5 distributed cloud services differ in connectivity and security at both the network and application levels.

• On January 2022, Nextuple, a pioneer in omnichannel fulfilment transformation, introduced the Nextuple Fulfillment Studio, a microservices-based system that allows retailers to quickly and precisely configure and scale omnidirectional fulfilment capabilities. This allows them to delight customers while also strengthening their market position.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global cloud microservices market based on the below-mentioned segments:

Cloud Microservices Market, Component Analysis

• Services
• Platform

Cloud Microservices Market, Deployment Mode Analysis

• Private Cloud
• Public Cloud
• Hybrid Cloud

Cloud Microservices Market, Organization Size Analysis

• Large Enterprises
• SMEs

Cloud Microservices Market, End-User Analysis

• BFSI
• Retail
• E-Commerce
• Manufacturing
• IT & Telecommunications
• Healthcare
• Others

Cloud Microservices Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa