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Cloud Microservices Market Size

Report ID: GMI6496
Published Date: Jul 2024
Report Format: PDF

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Cloud Microservices Market Size

Cloud Microservices Market size was valued at USD 1.4 billion in 2023 and is projected to register a CAGR of over 20.3% between 2024 and 2032. Cloud microservices enable applications to be broken down into smaller, modular components that can be independently developed, deployed, and scaled. This flexibility allows organizations to scale specific components based on demand, improving resource utilization and overall application performance. For instance, Amazon uses microservices to power its e-commerce platform. This allows them to scale the platform to handle the billions of requests it receives every day.

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Microservices architecture, when combined with cloud services, promotes faster development cycles and continuous deployment. Each microservice can be developed, tested, and deployed independently, reducing development bottlenecks and accelerating time-to-market for new features and updates, thereby fostering their adoption.

Cloud Microservices Market Report Attributes
Report Attribute	Details
Base Year:	2023
Cloud Microservices Market Size in 2023:	USD 1.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	20.3%
2032 Value Projection:	USD 7.2 Billion
Historical Data for:	2018 – 2023
No. of Pages:	220
Tables, Charts & Figures:	312
Segments covered:	Component, Deployment Mode, Enterprise size, End-User
Growth Drivers:	The increasing use of mobile-based applications The growing recognition of DevOps among entrepreneurs The growth of digitalization in developing economies The penetration of microservices architecture, customer-oriented business, and digital transformation The growing adoption of cloud computing
Pitfalls & Challenges:	Security and compliance issues Complexity and management concerns

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However, migrating existing monolithic applications to a microservices architecture can be challenging and resource intensive. Legacy systems might not easily adapt to microservices, and rewriting or rearchitecting applications can be time-consuming and costly. Organizations with substantial investments in legacy systems may hesitate to embrace microservices due to the perceived risks and costs associated with migration, thus impacting market growth and popularity.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of cloud microservices reached USD 1.4 billion in 2023 and is set to observe over 20% CAGR between 2023 and 2032, owing to faster development cycles and continuous deployment, along with improved resource utilization and overall application performance.

The large enterprises segment held a market share of over 68% in 2023 and will grow as cloud microservices find widespread application in large enterprises due to their ability to enhance agility, scalability, and innovation.

North America market share was over 33% in 2023, attributed to the region's advanced IT infrastructure and tech-savvy culture that drive the adoption of innovative solutions like microservices.

Amazon Web Services, Inc., Atos SE, Broadcom, Idexcel Inc., Infosys Limited, IBM Corporation, Oracle, Salesforce, Inc., Tata Consultancy Services Limited.