Micro frontends are expected to propel the worldwide cloud microservice industry to a size of USD 2.0 billion by 2024. It is anticipated that this trend will open up new market possibilities, resulting in a projected CAGR of 19.1% between 2024 and 2034 and a total worth of around USD 11.3 billion by that year.
The emphasis on observability and monitoring is one of the main reasons driving the market’s expansion. Maintaining the observability of microservices architectures is essential for performance optimization and troubleshooting. The procedures and technologies for monitoring are changing to meet the demands of dispersed systems.
In certain industries, such as finance and supply chain, there is an interest in integrating microservices with blockchain technology to enhance transparency, security, and traceability. Combining edge computing with artificial intelligence, Edge AI is becoming a significant trend. Microservices play a role in building modular and scalable AI components that can be deployed at the edge for real-time processing.
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The customization of microservices for specific industries, such as healthcare, finance, and e-commerce, is creating niche opportunities. Tailoring microservices to industry-specific needs enhances adoption in various sectors. The compatibility of microservices with different cloud providers is crucial, as organizations seek to avoid vendor lock-in. Solutions that facilitate easy migration and operation across multiple cloud platforms are gaining attention.
Continuous improvement in security measures for microservices, including the use of service meshes, secure API gateways, and zero-trust architectures, is essential to address the evolving threat landscape. Organizations expanding globally are leveraging microservices to build scalable and adaptable applications that can cater to diverse markets with varying requirements.
Key Takeaways from the Cloud Microservice Market Report:
- The global cloud microservice market was valued at US$ 1.7 billion by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 16.9%.
- The market in Australia is expected to expand at a CAGR of 22.6% through 2034.
- By enterprise size, the large enterprises segment to account for a share of 68.0% in 2024.
- From 2024 to 2034, the cloud microservice market is expected to flourish at a CAGR of 19.1%.
- By 2034, the market value of cloud microservice is expected to reach US$ 11.3 billion.
“The Cloud Microservice Market continues to exhibit robust growth, driven by the escalating demand for scalable and agile solutions across diverse industries, our comprehensive market research study underscores the pivotal role of cloud microservices in fostering innovation, enhancing flexibility, and optimizing resource utilization. As organizations increasingly prioritize digital transformation, the cloud microservice market remains a focal point for driving operational efficiency and delivering seamless, customer-centric experiences.” – says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.
Recent Developments:
- In 2022, Weaveworks unveiled the availability of GitOps 2022.03, aiming to automate the delivery of reliable applications and enhance security operations. The solution is designed to simplify the deployment and administration of Kubernetes clusters and applications on a large scale, particularly catering to the needs of enterprises.
- In 2020, Amazon Web Services, Inc. introduced AWS Proton, marking the inception of the first entirely managed deployment service tailored for container and serverless applications. Proton empowers platform teams to seamlessly integrate and synchronize various tools essential for infrastructure provisioning, code deployments, monitoring, and updates.
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global cloud microservice market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the cloud microservice market, the market is segmented based on component (platform, and services), content (public, private, and hybrid), enterprise (large enterprises, and SMEs), and end-user (BFSI, healthcare, IT and telecommunications, education, retail and consumer goods, media and entertainment, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
The technology team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Cloud Microservice Market Segmentation:
By Component:
- Platform
- Services
- Consulting Services
- Integration Services
- Training, Support, and Maintenance Services
By Content:
- Public
- Private
- Hybrid
By Enterprise Size:
- Large Enterprises
- SMEs
By End User:
- BFSI
- Healthcare
- IT and Telecommunications
- Education
- Retail and Consumer Goods
- Media and Entertainment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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