Cloud Microservices Global Market Report 2024

The cloud microservices market size has grown exponentially in recent years. It will grow from $1.55 billion in 2023 to $1.88 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The historical growth can be attributed to several factors, including the emphasis on agility and reducing time to market, the flexibility and modularity offered by cloud microservices, the resilience and fault tolerance inherent in this architecture, considerations of data privacy and compliance, and the increasing integration of edge computing and Internet of Things (IoT) technologies.

The cloud microservices market size is expected to see exponential growth in the next few years. It will grow to $3.99 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The forecasted growth is driven by heightened demand for hybrid and multi-cloud solutions, the expansion of edge computing, enhanced security measures, integration with serverless computing, and a focus on observability and monitoring within cloud microservices. Major trends expected in the forecast period include increased integration with AI/ML services, adoption of serverless microservices, implementation of event-driven architectures, development of microservices security solutions, and the automation of CI/CD pipelines.

The burgeoning retail and e-commerce landscape is poised to drive significant growth within the cloud microservices market in the foreseeable future. Retail, encompassing the direct sale of goods or services to consumers via physical stores or online platforms, along with e-commerce, which involves the buying and selling of products and services over the Internet, are experiencing rapid expansion fueled by factors such as increased internet accessibility, evolving consumer preferences, and the convenience associated with online shopping. Within the retail and e-commerce sectors, cloud microservices play a pivotal role in constructing scalable, adaptable, and resilient applications capable of managing the intricacies inherent in modern digital commerce paradigms. For instance, as reported by the United States Census Bureau, e-commerce witnessed a 7.6% surge in 2023 compared to 6.9% in 2022. Similarly, data from the National Retail Federation indicates a notable 7% increase in annual retail sales from $4.61 trillion in 2021 to $4.94 trillion in 2022. Consequently, the burgeoning retail and e-commerce realms are key drivers propelling the expansion of the cloud microservices market.

Prominent entities within the cloud microservices sphere are directing their efforts toward the development of innovative solutions, such as the microservices engine, to deliver comprehensive and inclusive cloud microservices offerings. The microservices engine, an open-source, highly accessible platform tailored for microservice development, serves various business needs including microservice registration and discovery, distributed scheduling, and seamless integration with other cloud-based services. For instance, in March 2022, Alibaba Cloud introduced the microservices engine (MSE), a groundbreaking open-source platform designed to facilitate microservice development. Boasting features such as a fully managed registration and configuration center, cloud-native gateways, and robust microservice governance capabilities, this platform aims to fortify the open-source microservices ecosystem while enhancing performance, observability, and operational efficiency. It offers a unified, secure, and efficient framework for cloud-based Operations and Maintenance (O&M), catering to diverse business requirements and providing benefits such as enriched open-source capabilities, fully managed services, and versatile authentication mechanisms.

In January 2023, DC Two Limited, an Australian company specializing in data center, cloud, and software services, completed the acquisition of Attained Group for $1.4 million. This strategic acquisition is designed to diversify DC Two Limited's business scope beyond data centers and infrastructure, into the wider landscape of cloud microservices IT. This expansion encompasses areas such as cybersecurity, managed cloud services, network solutions, and voice services. Attained Group, headquartered in Australia, is an IT consultancy and solutions provider with expertise in cloud management and microservices.

Major companies operating in the cloud microservices market report are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Salesforce.com Inc., Infosys Limited, Alibaba Cloud, Atos SE, Rackspace Hosting Inc., Marlabs Inc., Contino Holdings Limited, Optisol Business solution, Idexcel Inc., OpenLegacy Ltd., NGINX Inc., SmartBear Software Inc., Macaw Software Inc., RapidValue Solutions Inc., Pivotal Software Inc.

North America was the largest region in the cloud microservices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud microservices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud microservices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cloud microservices entail an architectural approach where software applications or functionalities are built as a decentralized collection of autonomously deployable and manageable services. This approach is utilized across diverse domains to develop scalable, resilient, and agile applications that can adapt to evolving business and user requirements.

The primary components of cloud microservices include platforms and services. Platform components encompass specific elements within the overall microservices architecture responsible for providing particular functions or services. They support various deployment models such as public, hybrid, and private, and find application across organizations ranging from small and medium enterprises (SMEs) to large enterprises. End-users span various sectors including banking, financial services, insurance, retail, e-commerce, manufacturing, telecommunications, information technology, healthcare, and others.

The cloud microservices market research report is one of a series of new reports that provides cloud microservices market statistics, including cloud microservices industry global market size, regional shares, competitors with a cloud microservices market share, detailed cloud microservices market segments, market trends and opportunities, and any further data you may need to thrive in the cloud microservices industry. This cloud microservices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cloud microservices market consist of revenues earned by entities by providing services such as compute services, storage services, networking services, identity and access management, monitoring and logging services, and database services. The market value includes the value of related goods sold by the service provider or included within the service offering. The cloud microservices market also includes of sales of virtual machines, load balancers, object storage tools, and networking tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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