Cloud Microservices Market Share and Growth Factors Impact Analysis 2018 - 2026
Posted: May 10, 2019
Microservices architecture has paved way to new approaches in application programming interfaces (API), which allows setting a more agile development in delivering services to clients. The architecture based on microservices is a new way to creating next-generation cloud infrastructures. These house applications that are composed of autonomous units, thereby imparting increased agility, especially in software development process. The drive for API-first approach for cloud-native app development for client applications and services has been offering increasing momentum to the rising popularity of cloud microservices, especially among start-up enterprises. Cloud-native applications increasingly benefit from microservices.
World over, there has been constant generational shift in IT patterns in the way digital services are created and consumed. This has propelled the need for services that should be scalable, upgradeable, deployable, and should incur optimal costs. Cloud microservices enable developers to build cloud-native applications that are proactive toward service failures, leading to an agile environment. Some of the key end-use industries are the IT and IT-enabled services, retail, media and entertainment, and healthcare.
The study tracks key technological shifts and end-user trends that may attract next wave of investments. The various insights and estimations help industry stakeholders and market participants get clear view of the evolution trajectories of the cloud microservices market over the next few years.
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Rapid strides made in digital transformations by organizations and the relevance of cloud-native applications in these services are key trends propelling the steady expansion of the cloud microservices market. The rising shift from legacy monolithic apps to API-first approach is a crucial aspect reinforcing the demand for cloud microservices. The rising need for flexibility in building and deploying business applications is a key factor bolstering the demand for microservices architecture. This stems from the need to create innovative ways of engaging customers.
A host of benefits account for the popularity of cloud microservices: faster release of software, faster time to market (TTM), the freedom to deploy service applications via APIs, and easy integration with third party services. Additionally, the popularity of cloud microservices architecture is also stoked by their unique characteristics of the ability to scale services to meet growing demand in services. The need for managing the rising complexity in software development processes is also bolstering the demand or cloud microservices. However, concerns of security and compliance are expected to emerge as potential challenges upsetting the steady demand for cloud microservices. Nevertheless, emergence of internet of things (IoT) applications is expected to throw a window of opportunities in the market. Furthermore, the rising demand or customer-oriented businesses is also expected to create lucrative prospects.
The study presents detailed assessment of various regional dynamics and the trends that will give rise to new avenues in key regions. Of the various key regions, developed regions are expected to be contributing substantial revenues in the global cloud microservices market. This is attributed to the rising adoption of microservices approach in developing advanced business applications. On the other hand, developing regions are expected to be promising markets. For instance, the demand for cloud microservices in Asia Pacific is expected to expand at promising pace over the next few years.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia