The Asia Pacific Cloud Microservices Platform Market would witness market growth of 21.2% CAGR during the forecast period (2023-2029).
Automation and DevOps practices are two major trends anticipated to fuel the growth of the cloud microservices platform industry. Continuous integration, deployment, and delivery are examples of DevOps processes that have become crucial as more firms implement agile development techniques and try to shorten their time to market. Organizations can automate their development as well as deployment processes and optimize their workflows by using cloud microservices platforms, which offer the required tools and infrastructure to support these activities.
Cloud microservices systems also provide flexibility, scalability, and resilience, all of which are critical in today's fast-moving, dynamic business environment. In addition, applications can be updated and maintained more easily using microservices, which divide them into smaller, more functional parts. With so much competition today, organizations need to be able to quickly create and implement new features and functions.
Microservices are becoming increasingly popular within the Association of Southeast Asian Nations (ASEAN). Most businesses have already begun the design and testing stages of converting some services from monolithic to microservice architectures, with Malaysia and Singapore setting the pace in ASEAN. Moreover, without microservices, it would have taken much longer to complete the MyCareersFuture jobs platform, which was completed in just eight months. The united team from Workforce Singapore and GovTech Singapore was able to divide the portal into smaller components owing to this application design, allowing various agile teams to work on developing, testing, and deploying services simultaneously. All such developments are propelling the expansion of the market in the coming years.
The China market dominated the Asia Pacific Cloud Microservices Platform Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $324.6 million by 2029. The Japan market is estimated to grow a CAGR of 20.4% during (2023 - 2029). Additionally, The India market would experience a CAGR of 21.9% during (2023 - 2029).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Deployment Type, the market is segmented into Public, Private and Hybrid. Based on Application, the market is segmented into Data Analytics, Database Applications, Customer Relationship Management and Others. Based on End User, the market is segmented into IT & Telecommunications, BFSI, Government & Healthcare, Healthcare, Manufacturing, Retail & eCommerce and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cloud Microservices Platform Market is Projected to reach USD 4 Billion by 2029, at a CAGR of 20.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Infosys Limited, Cisco Systems, Inc., Tata Consultancy Services Ltd., Amazon Web Services, Inc. (Amazon.com, Inc.), SAP SE, Microsoft Corporation, F5 Networks, Inc., and Salesforce, Inc.
By Component
By Deployment Type
By Application
By End User
By Country
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