Containers as a Service Market Size to Hit USD 5.6 Billion by 2027 Globally
This research report categorizes the Containers as a Service Market to forecast revenue and analyze trends by Service Type, Deployment Model, Organization Size, Verticals and Region.
Northbrook, IL 60062 -- (SBWire) -- 12/06/2022 --According to a research report "Containers as a Service Market by Service Type (Management and Orchestration, Security, Monitoring and Analytics), Deployment Model (Public, Private, Hybrid), Organization Size, Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the CaaS market size is expected to grow from USD 2.0 billion in 2022 to USD 5.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 22.7% during the forecast period. The increase in use of microservices and growth in the adoption of IaaS are a few factors driving the growth of the CaaS market.
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The security services enables enterprises to protect workloads against modern threats.
The use of containers by application development teams continues to increase because of their flexibility and reduced infrastructure costs. However, container security remains to be a prime concern. Securing containers is a lot like securing any running process. One needs to secure the layers of the solution stack before the container is deployed and run. The OS that hosts the container environment is the most important layer of the stack to secure because an attack that compromises the host environment could provide intruders with access to everything else in the stack.
Rising hybrid cloud usage due to increasing microservice and management service data environment
Hybrid cloud is a concept that incorporates the elements of both public and private clouds. In this model, enterprises use both private and public clouds at the same time. For storing data of less significance, enterprises opt for public cloud, but data of significant importance is kept on private cloud. It simultaneously targets the 2 major concerns of scalability and security, which are difficult to attain by using only public or private cloud deployment frameworks. Hybrid cloud is a one-stop solution for enterprises with low-budget constraints and high-security needs.
Adoption of CaaS to result in increased revenue and improved business efficiency
Cost-effectiveness is an important factor for SMEs, as they always have a tight budget, leaving them with limited ways to market themselves and gain visibility. The intensely competitive market scenario has encouraged SMEs to invest in CaaS to reach their desired target audience. Small businesses in the UK are falling behind when it comes to the adoption of new technology.
CaaS solutions help banks modernize digital foundations for a competitive edge
The BFSI vertical handles the crucial data of customers, including transaction passwords, account numbers, and card details, which needs to be protected with the utmost importance. Maintaining accessibility and security of customer data is as important as retaining that data over longer periods to meet compliance requirements. With increasing financial industry regulations, traditional enterprises in the BFSI vertical need to evolve with advanced technologies to meet these regulatory needs. Hence, the BFSI vertical is expected to follow high-security standards to maintain critical information and is moving toward the adoption of cloud-based container services at a faster pace.
North America holds the largest market size in 2022
North America is one of the most technologically advanced regions in the world. The adoption of CaaS is expected to be the highest in North America. This is because of the rising inclination of American households toward smart technologies and the increasing investments by North American companies in advanced technologies, such as commercial and industrial IoT, 5G, cloud computing, and AI. The increasing number of alliances and partnerships among CaaS and other technology providers for continuous technological innovations and advancements in CaaS has further added to the growth of the global CaaS market in North America. The presence of connectivity networks will act as a driving factor to facilitate the adoption of CaaS. The average number of digital devices available to citizens is increasing exponentially. People are better connected with enhanced access to brands and content. Gaming and eCommerce markets are booming in this region. This would widen the opportunity for CaaS.
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The major players for CaaS market includes Cisco Systems, Inc. (US), Hewlett Packard Enterprise Company (US), IBM Corporation (US), Huawei Technologies Co., Ltd. (China), Oracle(US), Amazon Web Services (US), Google (US), Microsoft (US), VMWare (US), Docker (US), SUSE (Germany), Red Hat (US), Tata Communications (India), Alibaba Cloud (Singapore), and DXC Technology (US).
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