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Cloud Microservices Platform Market Report

RA08517

Cloud Microservices Platform Market by Component (Platform and Services), Deployment Type (Public, Private, and Hybrid) Application (Data Analytics, Database Applications, Customer Relationship Management, and Others), End User (BFSI, IT and Telecommunications, Government, Healthcare, Retail and E-commerce, Manufacturing, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast 2022–2031

RA08517

Pages: 290

Apr 2023

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Cloud Microservices Platform Market

Global Cloud Microservices Platform Market Analysis

The Global Cloud Microservices Platform Market Size was $952.60 million in 2021 and is predicted to grow with a CAGR of 21.2%, by generating a revenue of $6,370.70 million by 2031.

Global Cloud Microservices Platform Market Analysis

Global Cloud Microservices Platform Market Synopsis

Cloud microservices platform enables organizations to scale their applications quickly and easily, without the need for significant investments in infrastructure. By using cloud microservices platforms, businesses can achieve greater agility and flexibility, which is essential in today's rapidly changing market conditions. In addition, microservices architecture enables faster development cycles and easier maintenance, which can further drive business agility. The scalability offered by cloud microservices platforms also helps organizations save costs by only using the resources they need at any given time, rather than investing in additional infrastructure that may be underutilized. This makes it easier for smaller businesses to compete with larger enterprises, as they can scale their applications more efficiently and effectively. These factors are anticipated to boost the cloud microservices platform market growth in the upcoming years.

However, some of the disadvantages of cloud microservices platforms include lack of network security.  In addition, the distributed nature of microservices makes it difficult to detect and respond to security threats in real-time. The complex nature of microservices architecture, which involves multiple independent components that work together to provide a complete application. Each of these components may have its own vulnerabilities, and a breach in any one of them can potentially compromise the entire system, while security concerns remain a challenge for the cloud microservices platform, which is expected to hamper the cloud microservices platform market growth.

The cloud microservices platforms allows businesses to easily increase or decrease the amount of resources allocated to their applications and services based on demand. This scalability is made possible by the use of containerization and orchestration technologies, which allow for easy deployment, management, and scaling of individual microservices. As businesses continue to adopt cloud technology, they are also looking for ways to optimize their applications and services. Microservices architecture can help them achieve this goal by providing a more modular, scalable approach to application development and deployment. In addition, cloud microservices platforms often offer automatic scaling capabilities, which means that they can automatically adjust the number of resources allocated to an application or service based on usage patterns. This helps to ensure that businesses always have the resources they need to meet demand. Cloud microservices platforms that offer support for containerization can provide added value to businesses looking to adopt a microservices architecture.

According to regional analysis, the North America cloud microservices platform market forecast accounted for the largest market share in 2021. The increase in demand for digital transformation across various industries is driving the growth of the cloud microservices platform market share in North America.  As organizations continue to adopt cloud computing for their IT infrastructure, the demand for cloud-based microservices platforms is also increasing. Cloud microservices provide greater flexibility, scalability, and cost-effectiveness compared to traditional on-premise solutions.

Cloud Microservices Platform Overview

A cloud microservices platform is a type of cloud computing platform that allows developers to build, deploy, and manage microservices-based applications in the cloud. Microservices are a modern software architecture approach that involves breaking down large monolithic applications into small, independent services that can be developed, deployed, and scaled independently. A cloud microservices platform typically provides a set of tools and services to support the development and deployment of microservices-based applications.

COVID-19 Impact on Global Cloud Microservices Platform Market

The COVID-19 pandemic has brought several uncertainties leading to severe economic losses as various businesses across the world were standstill. The COVID-19 pandemic has had a significant impact on the cloud microservices platform market.  This has led to an increase in demand for cloud microservices platforms as businesses seek to optimize their operations and improve their efficiency. The pandemic has also accelerated digital transformation initiatives in many businesses, as they seek to adapt to the changing business environment. This has led to an increase in demand for cloud microservices platforms that can help businesses quickly and easily develop, deploy, and manage their digital applications. Furthermore, the pandemic has also disrupted supply chains and caused economic uncertainty, which has led some businesses to delay or cancel IT projects, including those related to cloud adoption. The pandemic has also disrupted global supply chains, which has affected the availability of hardware and software components used in cloud microservices platforms. This has led to delays in the delivery of some platforms and increase in prices for others.

Rising Digital Transformation of Cloud Microservices Platform to Drive the Market Growth

The cloud microservices platform market is being driven by several factors including scalability, agility, cost-effectiveness, flexibility, and DevOps. Cloud microservices platforms are becoming increasingly popular among organizations as they help in modernizing their IT infrastructure and driving digital transformation. In the digital economy, speed and agility are critical for businesses to stay competitive. Microservices-based architectures provide a way to achieve faster development and deployment of applications, making it easier for businesses to respond quickly to changing market demands. This approach allows developers to work on different parts of the application simultaneously, leading to faster development cycles. The driver of cloud microservices platform adoption is the need for faster, more agile development and deployment of applications. As businesses look to stay competitive in the digital economy, they need to embrace modern technologies that enable them to innovate quickly and respond to changing cloud microservices platform market demands.

To know more about global cloud microservices platform market drivers, get in touch with our analysts here.

The Security Concerns of Cloud Microservices Platform to Restrain the Market Growth

The security concerns are a major restraint for the growth of the cloud microservices platform market. Cloud microservices architecture involves breaking down the application into smaller independent services that interact with each other through APIs. While this approach offers benefits such as scalability, flexibility, and agility, it also creates security challenges. The primary security concerns of cloud microservices platform are data security. With cloud microservices, data is distributed across multiple services and storage locations, making it difficult to manage and secure. A breach in any one service can lead to the compromise of sensitive data across the entire application. All these are major factors projected to hamper the market growth during the forecast period.

Increase in Demand for Cloud Based Applications to Create Excellent Opportunities in the Market

The rise of cloud-native applications is expected to create significant growth opportunities for the key players operating in the cloud microservices platform market. Cloud-native applications are built using microservices, which are small, independently deployable services that work together to form a complete application. These microservices are typically packaged in containers, which provide a lightweight and portable runtime environment. Cloud microservices platforms provide developers with a set of tools and services to build, deploy, and manage cloud-native applications. These platforms offer a range of benefits, including improved agility, scalability, and resilience. They also enable developers to focus on writing code and building features, rather than worrying about the underlying infrastructure. Factors are driving the growth of the cloud microservices platform market such as increasing adoption of cloud-native architectures, growing need for faster software delivery cycles, and rising demand for scalable and resilient applications.

To know more about global cloud microservices platform market opportunities, get in touch with our analysts here.

Global Cloud Microservices Platform Market, by Component

Based on component, the market has been divided into platform and services. Among these, the platform sub-segment accounted for the highest market share in 2021, whereas the services sub-segment is estimated to show the fastest growth during the forecast period.

Global Cloud Microservices Platform Market Share, by Component, 2021

Global Cloud Microservices Platform Market, by Component

Source: Research Dive Analysis

The platform sub-segment accounted for the largest market share in 2021. The increasing demand for efficient and scalable microservices architecture are expected to drive the segment growth. As organizations continue to adopt cloud computing and migrate their applications to the cloud, they need a platform that can manage their microservices architecture effectively. Cloud-based microservices platforms provide an ideal environment for developing and deploying microservices-based applications as they offer the scalability, flexibility, and cost-efficiency required for these applications. The platform segment in the cloud microservices platform market is driven by the need for a comprehensive and integrated solution to support the development, deployment, and management of microservices-based applications in a cloud-native environment.

The services sub-segment is anticipated to show the fastest growth in 2031. Cloud microservices platforms offer a range of services to help organizations build, deploy, and manage microservices-based applications in the cloud. The services includes a variety of services that support the development, deployment, and management of microservices-based applications. These services may include consulting and advisory services, training and education, application development and integration services, and ongoing support and maintenance services. Consulting and advisory services are often used by organizations that are just starting to explore the use of microservices-based architectures. These services can help organizations understand the benefits and challenges of using microservices, assess their current IT infrastructure, and develop a roadmap for transitioning to a microservices-based architecture.

Global Cloud Microservices Platform Market, by Deployment Type

Based on deployment type, the market has been divided into public, private, and hybrid. Among these, the public sub-segment accounted for the highest revenue share in 2021.

Global Cloud Microservices Platform Market Size, by Deployment Type, 2021

Global Cloud Microservices Platform Market, by Deployment Type

Source: Research Dive Analysis

The public sub-segment accounted for the largest market share in 2021. The increasing demand for scalable, flexible, and agile cloud-based solutions that can support the development and deployment of microservices-based applications is expected to drive the segment growth. The public cloud segment offers a range of benefits, including cost savings, faster time-to-market, and greater scalability. Public cloud providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) offer a wide range of cloud-based services that are designed to support microservices-based applications. These services include container orchestration platforms, serverless computing platforms, managed Kubernetes services, and others. These factors are anticipated to boost the growth of the public sub-segment during the forecast time.

Global Cloud Microservices Platform Market, by Application

Based on application, the market has been divided into data analytics, database applications, customer relationship management, and others. Among these, the data analytics sub-segment accounted for the highest revenue share in 2021.

Global Cloud Microservices Platform Market Growth, by Application, 2021

Global Cloud Microservices Platform Market, by Application

Source: Research Dive Analysis

The data analytics sub-segment accounted for the largest market share in 2021. The data analytics segment is also driving innovation in the cloud microservices platform market. Cloud microservices platforms are continually evolving to meet the growing demands of organizations for advanced data analytics capabilities. Therefore, vendors are developing new tools and features that enable organizations to analyze data faster, more accurately, and at a lower cost. As more organizations adopt cloud microservices platforms, the demand for advanced data analytics capabilities is expected to continue to increase. These factors are anticipated to boost the growth of the public sub-segment during the forecast period.

Global Cloud Microservices Platform Market, by End User

Based on end user, the market has been divided into BFSI, IT and telecommunications, government, healthcare, retail and e-commerce, manufacturing, and others. Among these, the IT and telecommunications sub-segment accounted for the highest revenue share in 2021.

Global Cloud Microservices Platform Market Analysis, by End User, 2021

Global Cloud Microservices Platform Market, by End User

Source: Research Dive Analysis

The IT and telecommunications sub-segment accounted for the largest market share in 2021. IT and telecommunications companies deal with large amounts of data and traffic, which requires a scalable infrastructure. Microservices allow these companies to scale individual components of their application, rather than scaling the entire monolithic application. The demand for services provided by the information technology (IT) and telecommunications (Telecom) sectors has increased owing to the growing use of technologies connected to software and communication. These factors are anticipated to boost the growth of the public sub-segment during the forecast period.

Global Cloud Microservices Platform Market, Regional Insights

The cloud microservices platform market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Cloud Microservices Platform Market Size & Forecast, by region, 2021-2031 (USD Million)

Global Cloud Microservices Platform Market, Regional Insights

Source: Research Dive Analysis

The Market for Cloud Microservices Platform in North America to be the Most Dominant

The North America cloud microservices platform market accounted for the largest market share in 2021. 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 microservices architecture. Cloud microservices platforms allow organizations to break down large monolithic applications into smaller, modular components, making it easier to develop, test, deploy, and manage them. Furthermore,  The region's strong technological infrastructure, favorable government policies, and high adoption of cloud technology are contributing to the growth of the cloud microservices platform market. In addition, the increase in demand for agile, scalable, and cost-effective software solutions is driving the adoption of microservices architecture in the region. The increase in popularity of DevOps practices and containerization technologies such as Docker and Kubernetes has contributed to the growth of the cloud microservices platform market in North America. Moreover, the availability of robust cloud infrastructure, increasing investments in cloud-based technologies by large organizations, and the presence of major cloud service providers such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform have also contributed to the growth of the cloud microservices platform market trend in North America. These factors have created a favorable environment for the growth of the cloud microservices platform market in the region.

Competitive Scenario in the Global Cloud Microservices Platform Market

Investment and agreement are common strategies followed by major market players. For instance, in February 2022, the development of industry- and domain-specific solutions for healthcare, financial services, and telecom is now possible owing to a multi-year Strategic Cooperation Agreement (SCA) between Amazon Web Services, Inc. and UST, a supplier of solutions for digital transformation. UST will invest in expanding its in-depth understanding of AWS and enterprise digital transformation. These solutions will enable businesses to modernize through AWS services.

Competitive Scenario in the Global Cloud Microservices Platform Market

Source: Research Dive Analysis

Some of the leading cloud microservices platform market analysis players are Salesforce.com, Infosys Limited, Cisco Systems, TATA Consultancy Services Limited, Amazon Web Services Inc., IBM CORPORATION, Oracle Corporation, SAP SE, Microsoft Corporation, and F5 Networks, Inc.

Aspect

Particulars

  Historical Market Estimations

  2020

  Base Year for Market Estimation

  2021

  Forecast Timeline for Market Projection

  2022-2031

  Geographical Scope

  North America, Europe, Asia-Pacific, and LAMEA

  Segmentation by Component

  • Platform
  • Services

  Segmentation by Deployment Type

  • Public
  • Private
  • Hybrid

  Segmentation by Application

  • Data Analytics
  • Database Applications
  • Customer Relationship Management
  • Others

  Segmentation by End User

  • BFSI
  • IT and Telecommunications
  • Government
  • Healthcare
  • Retail and eCommerce
  • Manufacturing
  • Others

  Key Companies Profiled

  • Salesforce.com
  • Infosys Limited
  • Cisco Systems
  • TATA Consultancy Services Limited
  • Amazon Web Services Inc.
  • IBM CORPORATION
  • Oracle Corporation
  • SAP SE
  • Microsoft Corporation
  • F5 Networks, Inc.

Frequently Asked Questions
 

A. The size of the global cloud microservices platform market size was over $952.6 million in 2021 and is projected to reach $6,370.70 million by 2031.

A. Salesforce.com, Infosys ltd., and Cisco Systems are some of the key players in the global cloud microservices platform market.

A. Asia-Pacific possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific cloud microservices platform market share is anticipated to grow at 21.7% CAGR during the forecast period.

A. Agreement and investment are the two key strategies opted by the operating companies in this market.

A. TATA Consultancy Services Limited, Amazon Web Services Inc., and IBM Corporation are the companies investing more on R&D activities for developing new products and technologies.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation

1.5.1.Top-down approach
1.5.2.Bottom-up approach

2.Report Scope

2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on global Cloud Microservices Platform market 

3.Executive Summary

4.Market Overview

4.1.Introduction
4.2.Growth impact forces

4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities

4.3.Market value chain analysis

4.3.1.List of raw material suppliers
4.3.2.List of manufacturers 
4.3.3.List of distributors

4.4.Innovation & sustainability matrices

4.4.1.Technology matrix
4.4.2.Regulatory matrix

4.5.Porter’s five forces analysis

4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity

4.6.PESTLE analysis

4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental

4.7.Impact of COVID-19 on Cloud Microservices Platform market

4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario

5.Cloud Microservices Platform Market Analysis, by Component

5.1.Overview
5.2.Platform  

5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region,2021-2031
5.2.3.Market share analysis, by country,2021-2031

5.3.Services  

5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region,2021-2031
5.3.3.Market share analysis, by country,2021-2031

5.4.Research Dive Exclusive Insights

5.4.1.Market attractiveness
5.4.2.Competition heatmap

6.Cloud Microservices Platform Market Analysis, by Deployment Type

6.1.Public   

6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region,2021-2031
6.1.3.Market share analysis, by country,2021-2031

6.2.Private  

6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region,2021-2031
6.2.3.Market share analysis, by country,2021-2031

6.3.Hybrid 

6.3.1.Definition, key trends, growth factors, and opportunities
6.3.2.Market size analysis, by region,2021-2031
6.3.3.Market share analysis, by country,2021-2031

6.4.Research Dive Exclusive Insights

6.4.1.Market attractiveness
6.4.2.Competition heatmap

7.Cloud Microservices Platform Market Analysis, by Application

7.1.Data Analytics   

7.1.1.Definition, key trends, growth factors, and opportunities
7.1.2.Market size analysis, by region,2021-2031
7.1.3.Market share analysis, by country,2021-2031

7.2.Database Applications

7.2.1.Definition, key trends, growth factors, and opportunities
7.2.2.Market size analysis, by region,2021-2031
7.2.3.Market share analysis, by country,2021-2031

7.3.Customer Relationship Management  

7.3.1.Definition, key trends, growth factors, and opportunities
7.3.2.Market size analysis, by region,2021-2031
7.3.3.Market share analysis, by country,2021-2031

7.4.Others  

7.4.1.Definition, key trends, growth factors, and opportunities
7.4.2.Market size analysis, by region,2021-2031
7.4.3.Market share analysis, by country,2021-2031

7.5.Research Dive Exclusive Insights

7.5.1.Market attractiveness
7.5.2.Competition heatmap

8.Cloud Microservices Platform Market Analysis, by End User

8.1.BFSI     

8.1.1.Definition, key trends, growth factors, and opportunities
8.1.2.Market size analysis, by region,2021-2031
8.1.3.Market share analysis, by country,2021-2031

8.2.IT and Telecommunications  

8.2.1.Definition, key trends, growth factors, and opportunities
8.2.2.Market size analysis, by region,2021-2031
8.2.3.Market share analysis, by country,2021-2031

8.3.Government  

8.3.1.Definition, key trends, growth factors, and opportunities
8.3.2.Market size analysis, by region,2021-2031
8.3.3.Market share analysis, by country,2021-2031

8.4.Healthcare    

8.4.1.Definition, key trends, growth factors, and opportunities
8.4.2.Market size analysis, by region,2021-2031
8.4.3.Market share analysis, by country,2021-2031

8.5.Retail and E-commerce     

8.5.1.Definition, key trends, growth factors, and opportunities
8.5.2.Market size analysis, by region,2021-2031
8.5.3.Market share analysis, by country,2021-2031

8.6.Manufacturing    

8.6.1.Definition, key trends, growth factors, and opportunities
8.6.2.Market size analysis, by region,2021-2031
8.6.3.Market share analysis, by country,2021-2031

8.7.Others      

8.7.1.Definition, key trends, growth factors, and opportunities
8.7.2.Market size analysis, by region,2021-2031
8.7.3.Market share analysis, by country,2021-2031

8.8.Research Dive Exclusive Insights

8.8.1.Market attractiveness
8.8.2.Competition heatmap

9.Cloud Microservices Platform Market, by Region

9.1.North America

9.1.1.U.S.

9.1.1.1.Market size analysis, by Component,2021-2031
9.1.1.2.Market size analysis, by Deployment Type,2021-2031
9.1.1.3.Market size analysis, by Application,2021-2031
9.1.1.4.Market size analysis, by End User,2021-2031

9.1.2.Canada

9.1.2.1.Market size analysis, by Component,2021-2031
9.1.2.2.Market size analysis, by Deployment Type,2021-2031
9.1.2.3.Market size analysis, by Application,2021-2031
9.1.2.4.Market size analysis, by End User,2021-2031

9.1.3.Mexico

9.1.3.1.Market size analysis, by Component,2021-2031
9.1.3.2.Market size analysis, by Deployment Type,2021-2031
9.1.3.3.Market size analysis, by Application,2021-2031
9.1.3.4.Market size analysis, by End User,2021-2031

9.1.4.Research Dive Exclusive Insights

9.1.4.1.Market attractiveness
9.1.4.2.Competition heatmap

9.2.Europe

9.2.1.Germany 

9.2.1.1.Market size analysis, by Component,2021-2031
9.2.1.2.Market size analysis, by Deployment Type,2021-2031
9.2.1.3.Market size analysis, by Application,2021-2031
9.2.1.4.Market size analysis, by End User,2021-2031

9.2.2.UK

9.2.2.1.Market size analysis, by Component,2021-2031
9.2.2.2.Market size analysis, by Deployment Type,2021-2031
9.2.2.3.Market size analysis, by Application,2021-2031
9.2.2.4.Market size analysis, by End User,2021-2031

9.2.3.France

9.2.3.1.Market size analysis, by Component,2021-2031
9.2.3.2.Market size analysis, by Deployment Type,2021-2031
9.2.3.3.Market size analysis, by Application,2021-2031
9.2.3.4.Market size analysis, by End User,2021-2031

9.2.4.Spain

9.2.4.1.Market size analysis, by Component,2021-2031
9.2.4.2.Market size analysis, by Deployment Type,2021-2031
9.2.4.3.Market size analysis, by Application,2021-2031
9.2.4.4.Market size analysis, by End User,2021-2031

9.2.5.Italy

9.2.5.1.Market size analysis, by Component,2021-2031
9.2.5.2.Market size analysis, by Deployment Type,2021-2031
9.2.5.3.Market size analysis, by Application,2021-2031
9.2.5.4.Market size analysis, by End User,2021-2031

9.2.6.Rest of Europe

9.2.6.1.Market size analysis, by Component,2021-2031
9.2.6.2.Market size analysis, by Deployment Type,2021-2031
9.2.6.3.Market size analysis, by Application,2021-2031
9.2.6.4.Market size analysis, by End User,2021-2031

9.2.7.Research Dive Exclusive Insights

9.2.7.1.Market attractiveness
9.2.7.2.Competition heatmap

9.3.Asia-Pacific

9.3.1.China

9.3.1.1.Market size analysis, by Component,2021-2031
9.3.1.2.Market size analysis, by Deployment Type,2021-2031
9.3.1.3.Market size analysis, by Application,2021-2031
9.3.1.4.Market size analysis, by End User,2021-2031

9.3.2.Japan 

9.3.2.1.Market size analysis, by Component,2021-2031
9.3.2.2.Market size analysis, by Deployment Type,2021-2031
9.3.2.3.Market size analysis, by Application,2021-2031
9.3.2.4.Market size analysis, by End User,2021-2031

9.3.3.India

9.3.3.1.Market size analysis, by Component,2021-2031
9.3.3.2.Market size analysis, by Deployment Type,2021-2031
9.3.3.3.Market size analysis, by Application,2021-2031
9.3.3.4.Market size analysis, by End User,2021-2031

9.3.4.Australia

9.3.4.1.Market size analysis, by Component,2021-2031
9.3.4.2.Market size analysis, by Deployment Type,2021-2031
9.3.4.3.Market size analysis, by Application,2021-2031
9.3.4.4.Market size analysis, by End User,2021-2031

9.3.5.South Korea

9.3.5.1.Market size analysis, by Component,2021-2031
9.3.5.2.Market size analysis, by Deployment Type,2021-2031
9.3.5.3.Market size analysis, by Application,2021-2031
9.3.5.4.Market size analysis, by End User,2021-2031

9.3.6.Rest of Asia-Pacific

9.3.6.1.Market size analysis, by Component,2021-2031
9.3.6.2.Market size analysis, by Deployment Type,2021-2031
9.3.6.3.Market size analysis, by Application,2021-2031
9.3.6.4.Market size analysis, by End User,2021-2031

9.3.7.Research Dive Exclusive Insights

9.3.7.1.Market attractiveness
9.3.7.2.Competition heatmap

9.4.LAMEA

9.4.1.Brazil

9.4.1.1.Market size analysis, by Component,2021-2031
9.4.1.2.Market size analysis, by Deployment Type,2021-2031
9.4.1.3.Market size analysis, by Application,2021-2031
9.4.1.4.Market size analysis, by End User,2021-2031

9.4.2.Saudi Arabia

9.4.2.1.Market size analysis, by Component,2021-2031
9.4.2.2.Market size analysis, by Deployment Type,2021-2031
9.4.2.3.Market size analysis, by Application,2021-2031
9.4.2.4.Market size analysis, by End User,2021-2031

9.4.3.UAE

9.4.3.1.Market size analysis, by Component,2021-2031
9.4.3.2.Market size analysis, by Deployment Type,2021-2031
9.4.3.3.Market size analysis, by Application,2021-2031
9.4.3.4.Market size analysis, by End User,2021-2031

9.4.4.South Africa

9.4.4.1.Market size analysis, by Component,2021-2031
9.4.4.2.Market size analysis, by Deployment Type,2021-2031
9.4.4.3.Market size analysis, by Application,2021-2031
9.4.4.4.Market size analysis, by End User,2021-2031

9.4.5.Rest of LAMEA

9.4.5.1.Market size analysis, by Component,2021-2031
9.4.5.2.Market size analysis, by Deployment Type,2021-2031
9.4.5.3.Market size analysis, by Application,2021-2031
9.4.5.4.Market size analysis, by End User,2021-2031

9.4.6.Research Dive Exclusive Insights

9.4.6.1.Market attractiveness
9.4.6.2.Competition heatmap

10.Competitive Landscape

10.1.Top winning strategies, 2021

10.1.1.By strategy
10.1.2.By year

10.2.Strategic overview

10.3.Market share analysis, 2021

11.Company Profiles

11.1.Salesforce.com  

11.1.1.Overview
11.1.2.Business segments
11.1.3.Product portfolio
11.1.4.Financial performance
11.1.5.Recent developments
11.1.6.SWOT analysis

11.2.Infosys Limited  

11.2.1.Overview
11.2.2.Business segments
11.2.3.Product portfolio
11.2.4.Financial performance
11.2.5.Recent developments
11.2.6.SWOT analysis

11.3.Cisco Systems  

11.3.1.Overview
11.3.2.Business segments
11.3.3.Product portfolio
11.3.4.Financial performance
11.3.5.Recent developments
11.3.6.SWOT analysis

11.4.TATA Consultancy Services Limited

11.4.1.Overview
11.4.2.Business segments
11.4.3.Product portfolio
11.4.4.Financial performance
11.4.5.Recent developments
11.4.6.SWOT analysis

11.5.Amazon Web Services Inc.  

11.5.1.Overview
11.5.2.Business segments
11.5.3.Product portfolio
11.5.4.Financial performance
11.5.5.Recent developments
11.5.6.SWOT analysis

11.6.IBM CORPORATION  

11.6.1.Overview
11.6.2.Business segments
11.6.3.Product portfolio
11.6.4.Financial performance
11.6.5.Recent developments
11.6.6.SWOT analysis

11.7.Oracle Corporation  

11.7.1.Overview
11.7.2.Business segments
11.7.3.Product portfolio
11.7.4.Financial performance
11.7.5.Recent developments
11.7.6.SWOT analysis

11.8.SAP SE  

11.8.1.Overview
11.8.2.Business segments
11.8.3.Product portfolio
11.8.4.Financial performance
11.8.5.Recent developments
11.8.6.SWOT analysis

11.9.Microsoft Corporation  

11.9.1.Overview
11.9.2.Business segments
11.9.3.Product portfolio
11.9.4.Financial performance
11.9.5.Recent developments
11.9.6.SWOT analysis

11.10.F5 Networks, Inc.  

11.10.1.Overview
11.10.2.Business segments
11.10.3.Product portfolio
11.10.4.Financial performance
11.10.5.Recent developments
11.10.6.SWOT analysis

12.Appendix

12.1.Parent & peer market analysis
12.2.Premium insights from industry experts
12.3.Related reports

Cloud microservice platform refers to the adoption of modernized human resource approach so as to keep a track and enhance the productivity of employees in an organization. It is adopted by various companies across the globe to maximize efficiency, productivity, and work management to drive the overall growth of the company. It involves performance tracking, scheduling of staff, attendance, time, forecasting labor demand, and other processes.

Forecast Analysis of the Cloud Microservice Platform Market

Growing demand for enhancements in human resource management practices among various companies across the globe is expected to drive the growth of the cloud microservice platform market during the forecast period. In addition, implementation of innovative technologies like artificial intelligence is further expected to create immense opportunities for the growth of the cloud microservice platform market during the forecast period. However, low knowledge about cloud microservice platform among people is expected to hinder the growth of the market during the forecast period.

According to the report published by Research Dive, the global cloud microservice platform market is expected to generate a revenue of $4,246.5 million by 2028, growing rapidly at a CAGR of 20.8% during the forecast period 2021-2028. The major players of the market include Cisco Systems, Inc., Idexel, CA Technologies, IBM, SAP SE, Oracle, Amazon Web Services, Inc., Microsoft, Atos Syntel, Salesforce, and others.

Key Developments

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global cloud microservice platform market to grow exponentially.

For instance, in October 2021, Cisco Systems Inc., an American multinational technology conglomerate corporation dealing in networking hardware, software, telecommunications equipment, and other high-technology services and products, acquired Epsagon Ltd., an Israel-based cloud-based application monitoring software focused on scrutinizing cloud microservices and applications, in order to maximize Cisco’s presence in the cloud microservice platform market.

In December 2020, IBM, an American multinational technology corporation, acquired Instana, a leading enterprise observability and application performance monitoring platform, in order to power industry-leading, AI-powered automation capabilities to manage the complexity of modern applications that span hybrid cloud landscapes.

In November 2021, Cortex, a provider of a catalog for tracking the ownership of microservices, announced that they have built and added a new service creation capability that would empower developers to utilize templates so as to scaffold new services in just about five minutes.

Most Profitable Region in the Cloud Microservice Platform Market

The North America region is expected to be most profitable, and generate a revenue of $1,426.0 million during the forecast period. Early adoption of innovative pristine technologies by countries in this region is expected to stimulate the growth of the North America cloud microservice platform market. In addition, presence of illustrious players of the market in this region is expected to accelerate the growth of the regional market during the forecast period.

COVID-19 Impact on the Cloud Microservice Platform Market

The outbreak of coronavirus has had positive impact on the growth of the global cloud microservice platform market, owing to the prevalence of lockdowns in various countries across the globe. Companies across the globe were compelled to switch their operations to remote online working, and hence the companies adopted cloud microservice platform so as to initiate the modern methods of operations of increasing overall productivity of the employees in the company.

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