North America Cloud Microservices Platform Market Size, Share & Industry Trends Analysis Report By Component (Platform (Without Services) and Services), By Deployment Type, By Application, By End User, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The North America Cloud Microservices Platform Market would witness market growth of 18.7% CAGR during the forecast period (2023-2029).
Businesses can simply raise or decrease the resources allotted to their services and applications using the cloud microservices platforms, depending on demand. The deployment, maintenance, and scaling of single microservices are made simple using orchestration and containerization technologies. Businesses that are utilizing cloud computing are also searching for ways to improve the efficiency of their apps and services.
By offering a more flexible, modular application development and deployment, microservices architecture can aid them in achieving this objective. Moreover, cloud microservices platforms frequently provide automated scaling capabilities, which allow them to automatically change the number of resources assigned to a service or an application based on consumption trends. This allows companies to have the resources they require to meet demand at all times.
Businesses interested in implementing a microservices architecture can benefit from cloud microservices platforms that allow containerization. By segmenting applications into easily managed services that evolve more quickly, cloud microservices solve the problem of productivity and speed. Furthermore, cloud microservices are especially helpful for increasing quality assurance because each cloud microservice may be individually assessed and tested utilizing the previously mentioned approaches.
This region is obtaining a significant demand as more and more cutting-edge technologies are being adopted. The adoption of microservices architecture in the e-commerce, financial, and travel sectors by North American businesses has increased substantially over the past few years. It improves efficiency, agility, and scalability while helping to store data and information economically. For example, a storefront shopping application is deployed in the US using microservices, IBM Cloud Functions, and Cloud Foundry. Customers can browse an online inventory of vintage computing gadgets and offer reviews, which helps the industry expand. All these elements demonstrate the need for cloud microservices in the region, which in turn will propel the growth of the market.
The US market dominated the North America Cloud Microservices Platform Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,015.1 million by 2029. The Canada market is poised to grow at a CAGR of 21.4% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 20.4% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
- Platform (Without Services)
By Deployment Type
- Data Analytics
- Database Applications
- Customer Relationship Management
By End User
- IT & Telecommunications
- Government & Healthcare
- Retail & eCommerce
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Salesforce, Inc.
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