Cloud Microservice Platform Market Report
RA08517
Cloud Microservice Platform Market by Component (Platform and Services), Deployment Mode (Public, Private, and Hybrid), Application (Data Analytics, Database Applications, Customer Relationship Management, and Others), End-user (BFSI, IT & Telecommunications, Government, Healthcare, Retail & eCommerce, Manufacturing, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
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 Microservice Platform Market
Global Cloud Microservice Platform Market Analysis
The global cloud microservice platform market size is projected to gain $,4246.5 million in the 2021–2028 timeframe, growing from $952.6 million in 2020 at a healthy CAGR of 20.8%.
Market Synopsis
Growing acceleration of digital transformation in industries and organizations globally is expected to accelerate the growth of the cloud microservice platform market.
However, high initial cost and lack of awareness about cloud microservice platform and SAP can hamper the growth of the market.
According to the regional analysis of the market, the Asia-Pacific cloud microservice platform market forecast is expected to grow at a CAGR of 21.3%, by generating a revenue of $1,170.3 million, during the forecast period.
Cloud Microservice Platform Overview
Cloud microservice platform refers to adoption of advanced human resource practices to optimize the productivity of employees in an organization. It involves forecasting of labor demand, scheduling of the staff, time, attendance, and other processes. The introduction of cloud microservice platform software for human resource management in organizations has aided the productivity of the employees as well as the organization.
Impact Analysis of COVID-19 on the Global Cloud Microservice Platform Market
The cloud microservice platform market has experienced a healthy growth during the COVID-19 pandemic. The pandemic has enforced the businesses around the world to launch remote working of their operations and organizations around the world are looking for effective management of their operations to improve the productivity and sustain the growth of their organization during the pandemic period.
The coronavirus epidemic has enforced the companies in the cloud microservice platform industry for the adoption of new methods of operation such as implementation of predictive analytics to forecast losses accurately and virtual monitoring of the production. These steps are expected to have a positive impact on the technological segment of the global cloud microservice platform market growth
In addition to this, many companies operating in the cloud microservice platform domain have launched new platforms for effective human resource management in organizations. For example, in December 2020, Salesforce.com, Inc., an American cloud-based software company, launched “Service Cloud Workforce Engagement", a new product in the domain of workforce planning that will enable businesses to organize their workforce from anywhere and do the work allocation. The launch of the new products and services has helped the corporations to mitigate the effect of the COVID-19 pandemic.
Increasing Demand for Upgradation of Human Resource Management Practices to Surge the Market Growth
The global cloud microservice platform market outlook has been positive is expected to witness healthy growth mainly due to increasing utilization of modern practices that are integrated with technology for different functions of a firm such as production, finance, operations, human resource management, and others.
The advancement in the digital transformation of organizations and the suitability of cloud-native applications in these services are key trends driving the cloud microservices market. The growing shift from conventional monolithic applications to API (application programmable interfaces) first approach is aiding the cloud microservices market growth. The product developments for providing better cloud services platform to the corporations are anticipated to drive the growth of this market.
To know more about global cloud microservice platform market drivers, get in touch with our analysts here.
The Low Awareness of Cloud Microservice Platform Tools to Restrain the Market Growth
The low awareness about the adoption of cloud microservice platform software in the developing economies especially in the small and medium enterprises can hamper the growth of the global cloud microservice platform market during the forecast period.
Implementation of Technologies such as Artificial Intelligence (AI) to Create Substantial Investment Opportunities
The cloud microservice platform market is anticipated to grow in the forecast period and witness new domains of expansion due to adoption of technologies such as artificial intelligence (AI). Artificial intelligence operations refer to applying machine learning and analytics to big data to automate and improve IT operations. AI can automatically analyze patterns in large amounts of network and machine data to not only identify the cause of existing problems, but also predict future problems. These cloud microservice platform market trends are expected to positively impact the market.
To know more about global cloud microservice platform market opportunities, get in touch with our analysts here.
Cloud Microservice Platform Market
By Component
Based on component, the market has been divided into Platform and service sub-segments of which the Platform sub-segment is anticipated to generate the maximum revenue and service sub-segment is expected to show the fastest growth. Download PDF Sample Report
Source: Research Dive Analysis
The platform sub-segment is predicted to have a dominating market share in the global market and register a revenue of $2,464.7 million during the forecast period.
The increasing deployment of cloud microservices based software across different industries such as healthcare, retail & e-commerce, manufacturing, and others for human resource management applications is growing the demand for the platform sub-segment. The utilization of cloud microservice platform in corporations has advantages such as reduction in employee operations cost, better productivity, and greater employee satisfaction. These factors are expected to aid the growth of this sub-segment during the forecast period.
The service sub-segment is anticipated to have the fastest market growth and generate a revenue of $1,781.8 million by 2028, growing from $388.8 million in 2020, with a CAGR of 21.2% in the forecast period. Along with the installation of the software, effective consultation, integration, and support & maintenance training are required for staff for effective implementation of the cloud microservice platform systems in the organization and it is growing the demand for the service sub-segment in the forecast period.
Cloud Microservice Platform Market
By DeploymentOn the basis of deployment mode, the market has been sub-segmented into Public, private, and hybrid. Among the mentioned sub-segments, the hybrid cloud sub-segment is projected to have the fastest growth, whereas the Public sub-segment is projected to garner a dominant market share.
Source: Research Dive Analysis
The public cloud sub-segment of the global cloud microservice platform market is anticipated to be the most dominating sub-segment and exceed $1,923.3 million by 2028, with an increase from $429.3 million in 2020. In a public cloud, the hardware, storage, and network devices with other organizations. In a public cloud, all hardware, software, and other supporting infrastructure are owned and managed by the cloud provider. The users access services and manage your account using a web browser. The advantages of public cloud are lower costs, cloud applications, microservices architecture, no need to purchase hardware or software, and the users pay only for the service they use, no maintenance—the service provider provides the maintenance, high scalability—on-demand resources are available to meet your business needs, high reliability—a vast network of servers ensures against failure. These factors are expected to aid the growth of this market.
The hybrid sub-segment of the global cloud microservice platform market is predicted to have fastest growth and surpass $1,004.6 million by 2028, with an increase from $219.9 million in 2020, growing with a healthy CAGR of 21.2% in the forecast period. Hybrid cloud is a mixture of a private (on-premise) cloud and a public (off-premise) cloud. A hybrid cloud environment gives enterprises more control over their data. As business needs change and demand for IT services fluctuates, organizations can scale their workloads accordingly. The hybrid cloud model improves business continuity and reduces potential downtime and associated costs. These factors are expected to aid the growth of this market in the forecast period.
Cloud Microservice Platform Market
By ApplicationBased on application, the market analysis has been divided into Data Analytics, database applications, customer relationship management, and others. Out of these, the customer relationship management sub-segment is predicted to have the fastest growth and Data Analytics sub-segment is anticipated to hold the maximum revenue share in the global market.
Source: Research Dive Analysis
The data analytics sub-segment of the global cloud microservice platform market is predicted to be the most dominating sub-segment and surpass $1,317.7 million by 2028, with an increase from $304.3 million in 2020, growing with a healthy CAGR of 20.4% in the forecast period. The increasing adoption of data analytics software by different organizations enables them to improve and accelerate decision making and gain a competitive advantage by analyzing and responding to information in a timely manner, leading to the growth of the data analytics sub-segment. In addition, the growing demand for cloud-based big data analytics software in small businesses is having a positive impact on the growth of data analytics software sub-segment in the forecast period.
The customer relationship management sub-segment of the global cloud microservice platform market is predicted to be the fastest growing sub-segment and surpass $1,152.8 million by 2028, with an increase from $245.5 million in 2020, growing with a healthy CAGR of 21.6% in the forecast period. The growing demand for deploying customer relationship management (CRM) suites and solutions via the Software as a Service (SaaS) model is aiding the sub-segment’s growth. Rising demand for automated engagement with customers, improving the scope of digital operations, and improving customer experience & services are the factors driving the demand for customer relationship management across different industries such as BFSI, IT & telecommunications, healthcare, retail, and others globally, which is expected to aid the growth of this sub-segment in the forecast period.
Cloud Microservice Platform Market
By End UseBased on end-user, the market analysis has been sub categorized into BFSI, IT & telecommunications, government, healthcare, retail & e-commerce, manufacturing, and others. Out of these, the retail & e-commerce sub-segment is expected to have fastest growth and IT & telecom sub-segment is anticipated to hold the maximum revenue share in the global market.
Source: Research Dive Analysis
The IT & telecommunications sub-segment is predicted to have a dominating market share in the global market and record a revenue of $1,131.7 million in 2028, growing from $261.5 million in 2020 during the forecast period. The growth is due to the wide spread utilization of technology related to software and communication, surging the demand for services from information technology (IT) and telecommunications (Telecom) sector. To manage this demand, the IT & telecom has employed the largest number of employees and has increased the utilization of cloud microservice platform from the SMEs to the large-scale organization in the telecom and IT industry. These factors are expected to grow this sub-segment.
The retail & e-commerce sub-segment of the global cloud microservice platform market is predicted to have fastest growth and surpass $386.8 million by 2028, with an increase from $79.1 million in 2020. It is growing with a CAGR of 22.2% in the forecast period. The retail & e-commerce sub-segment is expected to grow in the forecast period due to increase in implementation of cloud solutions in the retail and e-commerce sector. For management of employees from budgeting of the labor employed, to forecasting of labor demand, scheduling of the staff, time, attendance, and others, cloud-based applications are effective. These factors are expected to grow this sub-segment in the forecast period.
Cloud Microservice Platform Market
By RegionThe cloud microservice platform market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Market for Cloud Microservice Platform in North America to be the Most Dominant
The North America cloud microservice platform market reported $317.8 million in 2020 and is projected to register a revenue of $1,426.0 million by 2028. The North America region is the hub of most developed and established infrastructure of information technology. The presence of developed nations such as the U.S and Canada and the early adoption of the latest technologies such as cloud enabled operations in the corporate organizations are expected to propel the growth of cloud microservices market region in the forecast period. In addition to this, the presence of research and development hubs of major firms that provide the cloud microservice platform solutions such as Amazon Web Services, Inc., IBM Corporation, and Oracle is also expected to aid the growth of cloud microservice platform market in the forecast period.
The Asia-Pacific to be the Fastest Growing Market for Cloud Microservice Platform
The Asia-Pacific cloud microservice platform market is expected to grow at the fastest rate with a CAGR of 21.3% and generate a revenue of $1,170.3 million by 2028. The cloud microservice platform market in the Asia-Pacific region is estimated to grow due to presence of large number of organizations from small to large scale that require cloud-based platforms. Growing scale of digitization in the businesses of emerging countries of the region such as China, India, Japan, and South Korea, and others is expected to have positive impact on the cloud microservice platform market in the Asia-Pacific region.
Competitive Scenario in the Global Cloud Microservice Platform Market
Product development and agreement are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading cloud microservice platform market players are Salesforce, Amazon Web Services Inc., IBM, Oracle, SAP SE, Microsoft, Cisco Systems, Inc., Atos Syntel, Idexcel, and CA Technologies.
Porter’s Five Forces Analysis for the Global Cloud Microservice Platform Market:
- Bargaining Power of Suppliers: The suppliers in the cloud microservice platform market are moderate in number. Several companies are working on utilization of new technologies like AI enabled cloud-based software, remote monitoring, Thus, there is moderate threat from the suppliers.
Thus, the bargaining power suppliers is moderate. - Bargaining Power of Buyers: Buyers have moderate bargaining power; they demand services at a cost-effective manner. This increases the pressure on the cloud microservices platform providers to offer the best service in a cost-effective way. Thus, buyers can have alternatives and choose the convenient service that best fits their preference.
Thus, the bargaining power of buyers is moderate. - Threat of New Entrants: Companies entering the cloud microservices platform market face high competition since all new players strive to adopt technological innovations to customize products for attracting clients. The initial investment in the cloud microservices platform is high and technology is complex.
Thus, the threat of the new entrants is low. - Threat of Substitutes: There is no alternative product for cloud microservices platform solutions.
Thus, the threat of substitutes is low. - Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Amazon Web Services Inc., Oracle, and SAP SE. Companies in the cloud microservices platform do acquisitions to gain major market share.
Therefore, competitive rivalry in the market is high.
Aspect | Particulars |
Historical Market Estimations | 2019-2020 |
Base Year for Market Estimation | 2020 |
Forecast Timeline for Market Projection | 2021-2028 |
Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
Segmentation by Component |
|
Segmentation by Deployment Mode |
|
Segmentation by Application |
|
Segmentation by End-user |
|
Key Companies Profiled |
|
Q1. What is the size of the global cloud microservice platform market?
A. The size of the global cloud microservice platform market share was over $952.6 million in 2020 and is projected to reach $4,246.5 million by 2028.
Q2. What are the upcoming industry applications for cloud microservice platform?
A. The major applications of the cloud microservice platform, is in education and space science sector
Q3. What are key technological trends in the cloud microservice platform Market?
A. The key technological trends in the cloud microservice platform market are adoption of artificial intelligence (AI) and is expected to open new scope of opportunities for in the future.
Q4. What are the advantages and disadvantages of cloud microservice?
A. The advantages and disadvantages of cloud microservice are no need to purchase hardware or software, and disadvantage is possibility of security breach if done incorrectly.
Q5. Does cloud run support microservices?
A. Yes, cloud run support microservices.
Q6. Which are the leading countries operating in the global Cloud microservice platform market?
A. USA, Germany, UK are the leading countries operating in the global Cloud microservice platform market.
Q7. What is a cloud microservice?
A. Cloud microservice platform refers to adoption of advanced human resource practices to optimize the productivity of employees in an organization.
1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.Component trends
2.3.Deployment type trends
2.4.Application trends
2.5. End Use trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Application landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Pricing overview
3.8.1.By Component
3.8.2.By Deployment Type
3.8.3.By Application
3.8.4.By End Use
3.8.5.By Region
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
3.9.3.Manufacturing process
3.9.4. End Use analysis
3.9.5.Operating vendors
3.9.5.1.Raw material suppliers
3.9.5.2.Product manufacturers
3.9.5.3.Product distributors
3.10.Strategic overview
4. Cloud Microservice Platform Market, by Component
4.1.Platform
4.1.1.Market size and forecast, by region, 2021-2028
4.1.2.Comparative market share analysis, 2021-2028
4.2.Services
4.2.1.Market size and forecast, by region, 2021-2028
4.2.2.Comparative market share analysis, 2021-2028
5. Cloud Microservice Platform Market, by Deployment Type
5.1.Public
5.1.1.Market size and forecast, by region, 2021-2028
5.1.2.Comparative market share analysis, 2021-2028
5.2.Private
5.2.1.Market size and forecast, by region, 2021-2028
5.2.2.Comparative market share analysis, 2021-2028
5.3.Hybrid
5.3.1.Market size and forecast, by region, 2021-2028
5.3.2.Comparative market share analysis, 2021-2028
6. Cloud Microservice Platform Market, by Application
6.1. Data Analytics
6.1.1.Market size and forecast, by region, 2021-2028
6.1.2.Comparative market share analysis, 2021-2028
6.2.Database Applications
6.2.1.Market size and forecast, by region, 2021-2028
6.2.2.Comparative market share analysis, 2021-2028
6.3.Customer Relationship Management
6.3.1.Market size and forecast, by region, 2021-2028
6.3.2.Comparative market share analysis, 2021-2028
6.4.Others
6.4.1.Market size and forecast, by region, 2021-2028
6.4.2.Comparative market share analysis, 2021-2028
7. Cloud Microservice Platform Market, by End Use
7.1.BFSI
7.1.1.Market size and forecast, by region, 2021-2028
7.1.2.Comparative market share analysis, 2021-2028
7.2.IT and Telecommunications
7.2.1.Market size and forecast, by region, 2021-2028
7.2.2.Comparative market share analysis, 2021-2028
7.3.Government
7.3.1.Market size and forecast, by region, 2021-2028
7.3.2.Comparative market share analysis, 2021-2028
7.4. Healthcare
7.4.1.Market size and forecast, by region, 2021-2028
7.4.2.Comparative market share analysis, 2021-2028
7.5. Retail and e-commerce
7.5.1.Market size and forecast, by region, 2021-2028
7.5.2.Comparative market share analysis, 2021-2028
7.6.Manufacturing
7.6.1.Market size and forecast, by region, 2021-2028
7.6.2.Comparative market share analysis, 2021-2028
7.7.Others
7.7.1.Market size and forecast, by region, 2021-2028
7.7.2.Comparative market share analysis, 2021-2028
8. Cloud Microservice Platform Market, by region
8.1.North Region
8.1.1.Market size and forecast, by Component, 2021-2028
8.1.2.Market size and forecast, by Deployment Type, 2021-2028
8.1.3.Market size and forecast, by Application, 2021-2028
8.1.4.Market size and forecast, by End Use, 2021-2028
8.1.5.Market size and forecast, by country, 2021-2028
8.1.6.Comparative market share analysis, 2021-2028
8.1.7.U.S
8.1.7.1.Market size and forecast, by Component, 2021-2028
8.1.7.2.Market size and forecast, by Deployment Type, 2021-2028
8.1.7.3.Market size and forecast, by Application, 2021-2028
8.1.7.4.Market size and forecast, by End Use, 2021-2028
8.1.8.Canada
8.1.8.1.Market size and forecast, by Component, 2021-2028
8.1.8.2.Market size and forecast, by Deployment Type, 2021-2028
8.1.8.3.Market size and forecast, by Application, 2021-2028
8.1.8.4.Market size and forecast, by End Use, 2021-2028
8.1.9.Mexico
8.1.9.1.Market size and forecast, by Component, 2021-2028
8.1.9.2.Market size and forecast, by Deployment Type, 2021-2028
8.1.9.3.Market size and forecast, by Application, 2021-2028
8.1.9.4.Market size and forecast, by End Use, 2021-2028
8.2.Europe
8.2.1.Market size and forecast, by Component, 2021-2028
8.2.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.3.Market size and forecast, by Application, 2021-2028
8.2.4.Market size and forecast, by End Use, 2021-2028
8.2.5.Market size and forecast, by country, 2021-2028
8.2.6.Comparative market share analysis, 2021-2028
8.2.7.UK
8.2.7.1.Market size and forecast, by Component, 2021-2028
8.2.7.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.7.3.Market size and forecast, by Application, 2021-2028
8.2.7.4.Market size and forecast, by End Use, 2021-2028
8.2.8.Germany
8.2.8.1.Market size and forecast, by Component, 2021-2028
8.2.8.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.8.3.Market size and forecast, by Application, 2021-2028
8.2.8.4.Market size and forecast, by End Use, 2021-2028
8.2.9.France
8.2.9.1.Market size and forecast, by Component, 2021-2028
8.2.9.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.9.3.Market size and forecast, by Application, 2021-2028
8.2.9.4.Market size and forecast, by End Use, 2021-2028
8.2.10.Spain
8.2.10.1.Market size and forecast, by Component, 2021-2028
8.2.10.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.10.3.Market size and forecast, by Application, 2021-2028
8.2.10.4.Market size and forecast, by End Use, 2021-2028
8.2.11.Italy
8.2.11.1.Market size and forecast, by Component, 2021-2028
8.2.11.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.11.3.Market size and forecast, by Application, 2021-2028
8.2.11.4.Market size and forecast, by End Use, 2021-2028
8.2.12.Rest of Europe
8.2.12.1.Market size and forecast, by Component, 2021-2028
8.2.12.2.Market size and forecast, by Deployment Type, 2021-2028
8.2.12.3.Market size and forecast, by Application, 2021-2028
8.2.12.4.Market size and forecast, by End Use, 2021-2028
8.3.Asia-Pacific
8.3.1.Market size and forecast, by Component, 2021-2028
8.3.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.3.Market size and forecast, by Application, 2021-2028
8.3.4.Market size and forecast, by End Use, 2021-2028
8.3.5.Market size and forecast, by Country, 2021-2028
8.3.6.Comparative market share analysis, 2021-2028
8.3.7.China
8.3.7.1.Market size and forecast, by Component, 2021-2028
8.3.7.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.7.3.Market size and forecast, by Application, 2021-2028
8.3.7.4.Market size and forecast, by End Use, 2021-2028
8.3.8.India
8.3.8.1.Market size and forecast, by Component, 2021-2028
8.3.8.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.8.3.Market size and forecast, by Application, 2021-2028
8.3.8.4.Market size and forecast, by End Use, 2021-2028
8.3.9.Japan
8.3.9.1.Market size and forecast, by Component, 2021-2028
8.3.9.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.9.3.Market size and forecast, by Application, 2021-2028
8.3.9.4.Market size and forecast, by End Use, 2021-2028
8.3.10.South Korea
8.3.10.1.Market size and forecast, by Component, 2021-2028
8.3.10.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.10.3.Market size and forecast, by Application, 2021-2028
8.3.10.4.Market size and forecast, by End Use, 2021-2028
8.3.11.Australia
8.3.11.1.Market size and forecast, by Component, 2021-2028
8.3.11.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.11.3.Market size and forecast, by Application, 2021-2028
8.3.11.4.Market size and forecast, by End Use, 2021-2028
8.3.12.Rest of Asia-Pacific
8.3.12.1.Market size and forecast, by Component, 2021-2028
8.3.12.2.Market size and forecast, by Deployment Type, 2021-2028
8.3.12.3.Market size and forecast, by Application, 2021-2028
8.3.12.4.Market size and forecast, by End Use, 2021-2028
8.4.LAMEA
8.4.1.Market size and forecast, by Component, 2021-2028
8.4.2.Market size and forecast, by Deployment Type, 2021-2028
8.4.3.Market size and forecast, by Application, 2021-2028
8.4.4.Market size and forecast, by End Use, 2021-2028
8.4.5.Market size and forecast, by Country, 2021-2028
8.4.6.Comparative market share analysis, 2021-2028
8.4.7.Latin America
8.4.7.1.Market size and forecast, by Component, 2021-2028
8.4.7.2.Market size and forecast, by Deployment Type, 2021-2028
8.4.7.3.Market size and forecast, by Application, 2021-2028
8.4.7.4.Market size and forecast, by End Use, 2021-2028
8.4.8.Middle East
8.4.8.1.Market size and forecast, by Component, 2021-2028
8.4.8.2.Market size and forecast, by Deployment Type, 2021-2028
8.4.8.3.Market size and forecast, by Application, 2021-2028
8.4.8.4.Market size and forecast, by End Use, 2021-2028
8.4.9.Africa
8.4.9.1.Market size and forecast, by Component, 2021-2028
8.4.9.2.Market size and forecast, by Deployment Type, 2021-2028
8.4.9.3.Market size and forecast, by Application, 2021-2028
8.4.9.4.Market size and forecast, by End Use, 2021-2028
9.Company profiles
9.1.Amazon Web Services Inc.
9.1.1.Business overview
9.1.2.Financial performance
9.1.3.Operating Segments
9.1.4.Recent strategic moves & developments
9.1.5.SWOT analysis
9.2.IBM
9.2.1.Business overview
9.2.2.Financial performance
9.2.3.Operating Segments
9.2.4.Recent strategic moves & developments
9.2.5.SWOT analysis
9.3.Oracle
9.3.1.Business overview
9.3.2.Financial performance
9.3.3.Operating Segments
9.3.4.Recent strategic moves & developments
9.3.5.SWOT analysis
9.4.SAP SE
9.4.1.Business overview
9.4.2.Financial performance
9.4.3.Operating Segments
9.4.4.Recent strategic moves & developments
9.4.5.SWOT analysis
9.5.Microsoft
9.5.1.Business overview
9.5.2.Financial performance
9.5.3.Operating Segments
9.5.4.Recent strategic moves & developments
9.5.5.SWOT analysis
9.6.Software AG
9.6.1.Business overview
9.6.2.Financial performance
9.6.3.Operating Segments
9.6.4.Recent strategic moves & developments
9.6.5.SWOT analysis
9.7.Atos Syntel
9.7.1.Business overview
9.7.2.Financial performance
9.7.3.Operating Segments
9.7.4.Recent strategic moves & developments
9.7.5.SWOT analysis
9.8.Salesforce
9.8.1.Business overview
9.8.2.Financial performance
9.8.3.Operating Segments
9.8.4.Recent strategic moves & developments
9.8.5.SWOT analysis
9.9.Idexcel
9.9.1.Business overview
9.9.2.Financial performance
9.9.3.Operating Segments
9.9.4.Recent strategic moves & developments
9.9.5.SWOT analysis
9.10.CA Technologies
9.10.1.Business overview
9.10.2.Financial performance
9.10.3.Operating Segments
9.10.4.Recent strategic moves & developments
9.10.5.SWOT analysis
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.
Personalize this research
- Triangulate with your own data
- Request your format and definition
- Get a deeper dive on a specific application, geography, customer or competitor
- + 1-888-961-4454 Toll - Free
- support@researchdive.com