Market Research Future (MRFR) projects that the global Container as a Service market will surpass a valuation of $5500 Mn by the year 2023. To reach these figures, the market is forecast to witness a compound annual growth rate (CAGR) of 34% between 2017 and 2023.
This points out toward an extremely positive outlook for the market over the next couple of years. Containers have become a sought-after product in data center virtualization. Modernization and incessant evolution of operating systems has in parts influenced the demand for container as a service. With the help of containers, all the components are brought to one place via single operating system.
The segmented analysis of the market has been conducted based on deployment model, vertical, organization size and service type.
On the basis of deployment model, the market has been segmented into hybrid, private and public. On the basis of vertical, the market has been segmented into manufacturing, healthcare, retail & consumer goods, IT & telecommunication, media & entertainment, transportation & logistics, travel & hospitality, BFSI and others. On the basis of organization size, the market has been segmented into large enterprises and small & medium size enterprises.
On the basis of service type, the market has been segmented into monitoring & analytics, management & orchestration, security and storage & networking. Of these, the management & orchestration segment currently accounts for the largest share of the market in terms of value. The segment’s growth can be attributed to the increased demand for container as a service owing to the ease of deployment and superior management. Meanwhile, the security segment is expected to demonstrate the strongest CAGR during the assessment period.
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Some of the top-notch companies operating in the global Containers as a Service Market include VMware Inc. (U.S.), Docker (U.S.), International Business Machines Corporation (U.S.), Kontena (Finland), CoScale (Belgium), Apcera (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), Cloud 66 (U.K.), and Google Inc. (U.S.). These technology companies are aggressively expanding their product portfolio in order to tap into the rising opportunities. Also, companies are actively focusing on product innovation to gain a competitive edge. Moreover, increased investment in research & development pipelines is anticipated open new windows of opportunities for market players during the assessment period. Development of application-specific solutions is likely to remain a key industry trend over the forecast period.
Key regions covered in the report include Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), North America and South America.
The market has witnessed tremendous growth in North America, which makes the region an important destination for market players. In terms of revenues, US makes a sizable contribution to the North America Containers as a Service Market. In US, demand for microservices has increased substantially over time. At the same time, access to a state-of-the-art infrastructure make adoption of such solution easier in the country.
Europe is the second largest market for Containers as a Service. The market in Europe is expected to witness a healthy growth over the next several years. Presence of advanced economies reflecting favourably for the market in Europe.
The APAC Container as a Service market is expected to find lucrative growth opportunities in the years to come. Currently, APAC holds the third spot in the global Container as a Service market and is likely to present attractive opportunities in the years to come.