Containers as a Service Market to Reach $20.7 Billion, Globally, by 2032 at 25.3%% CAGR: Allied Market Research

The growth of the global containers as a service market is driven by increase in demand for flexible and dependable container service solutions, and rising benefits of cost effectiveness and increased productivity

PORTLAND, Ore., Aug. 2, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Containers as a Service Market, Service Type (Monitoring and Analytics, Security, Management and Orchestration, Storage and Networking, Training and Consulting, and Others), Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (large Enterprises, and Small and Medium-Sized Enterprises) and Industry Vertical (BFSI, Manufacturing, IT and Telecom, Retail and Consumer Goods, Media, Entertainment and Gaming, Healthcare, Government and Public Sector, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global containers as a service industry generated $2.2 billion in 2022, and is anticipated to generate $20.7 billion by 2032, witnessing a CAGR of 25.3% from 2023 to 2032.  

Prime determinants of growth

The growing awareness of the benefits of cost-effectiveness and increased productivity, and the rise in the need for services from businesses to reduce shipping times as a result of hosted applications drives the demand for containers as a service device. However, the difficulty in achieving security and compliance is expected to hamper the market growth. On the contrary, the emergence in IoT applications is anticipated to provide lucrative development opportunities for the containers as a service market in the forthcoming years.  

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Report coverage & details:

 

Covid-19 Scenario

• The pandemic necessitated a rapid shift to remote work and increased reliance on digital technologies. Organizations quickly recognized the need to modernize their IT infrastructure and embrace cloud-native approaches. CaaS emerged as a crucial enabler, allowing businesses to efficiently deploy and manage applications in a distributed environment. This accelerated digital transformation had spurred the demand for CaaS solutions.
•  Overall, containerization and CaaS helped organizations optimize costs by improving resource utilization and reducing infrastructure overhead. This became particularly important as companies sought ways to optimize expenses during the economic downturn caused by the pandemic. Therefore, the COVID-19 pandemic had a positive impact on the containers as a service market.

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The monitoring and analytics segment to maintain its leadership status throughout the forecast period

Based on service type, the monitoring and analytics segment held the highest market share in 2022, accounting for nearly one-third of the global containers as a service market revenue. This is attributed to the fact that cloud-native monitoring solutions are gaining popularity in the containers as a service market. These solutions are specifically designed to monitor containerized and microservices-based applications. They provide granular visibility into container performance, application dependencies, and service-to-service communication within the containerized environment. However, the security segment is projected to manifest the highest CAGR of 29.0% from 2023 to 2032,and is estimated to maintain its leadership status throughout the forecast period. With the popularity of containerization, there has been a growing focus on securing container images. Security services are evolving to provide richer, more automated container image scanning capabilities. These services integrate with image registries, leverage vulnerability scanning tools, and use machine learning techniques to detect and remediate security issues in container images prior to deployment.

The public cloud segment to maintain its leadership status throughout the forecast period 

Based on deployment mode, the public cloud segment held the highest market share in 2022, accounting for more than half of the global containers as a service market revenue, because public cloud providers offer scalable infrastructure resources, allowing organizations to dynamically scale their containerized applications based on demand. The ability to rapidly scale up or down resources is particularly valuable for applications with fluctuating workloads. However, the hybrid cloud segment is projected to manifest the highest CAGR of 28.4% from 2023 to 2032, as hybrid cloud service providers can develop comprehensive management solutions that allow organizations to efficiently orchestrate and monitor containerized applications across various public and private cloud environments. These tools can provide unified visibility, automation, and policy enforcement across hybrid cloud deployments.  

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global insurance chatbot market revenue, the expansion of the containers as a service market in North America is anticipated to be fueled by the integration of artificial intelligence (AI) and machine learning (ML) technologies with applications for container services, the demand for an automated business process to reduce manual errors, and enhanced IT systems to fulfill the wide range of customer requirements. However, the Asia-Pacific region is expected to witness the fastest CAGR of 28.5% from 2023 to 2032, and is likely to dominate the market during the forecast period, this is due to the growing start-up ecosystem and expansion of e-commerce and digital services are the two main drivers that are pushing the growth of the containers as a service market in the Asia-Pacific region.

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Leading Market Players: -

• Google LLC
• Amazon Web Services, Inc.
• Cisco Systems, Inc.
• IBM
• Microsoft
• Huawei Technologies Co., Ltd.
• VMware, Inc.
• Docker Inc.
• Oracle
• Hewlett Packard Enterprise Development LP 

The report provides a detailed analysis of these key players of the global containers as a service market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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