In a recent published report, Kenneth Research has updated the market report for Container as a Service (CaaS) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Container as a Service (CaaS) Market products.
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The growth of the market can be attributed to the growing accessibility to internet amongst the households globally and the need for advanced technologies that promote effective communication between two distant geographies. In the United States, internet access to households grew from around 73% of the households in 2015 to close to 80% of the households in 2019. In Korea, it was around 98% in 2014 which grew to nearly 100% in 2020. On the other hand, in the Netherlands, internet access to households touched nearly 98% in 2019. Countries in the Latin America, such as Brazil and Mexico grew at a significant pace by about 1.45x and 1.63x respectively within a span of 4 years between 2015 and 2019.
The Container as a Service Market is expected to grow with a significant CAGR during the forecast period, i.e. 2021-2023, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2020 around the world was 5.24 billion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Overview:
The containers have been introduced over more than a decade ago. At present, it is becoming the hottest trend in data center virtualization. In early days, most of the software applications used to run on a separate operating system (OS), but now the new feature of containers enables all the components to run on the single OS. Container as a Service (CaaS) is the cloud provider’s container support service, which provides users with container engines, orchestration, and the computational resources to run an application on a server. It is placed between IaaS and PaaS. The container provides isolation of application, microservices, and their configuration from the underlying OS. The major software companies such as Amazon, Google, and IBM are already in the market and are investing in the growth of the technology.
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Market Analysis:
The “Worldwide Container as a Service Market” is estimated to witness a CAGR of 34.48% during the forecast period 2016–2023. The CaaS market is analyzed based on four segments – application, deployment, verticals, and regions. Transition to a hybrid cloud and faster & flexible deployment are the main reasons to switch to CaaS. The microservices and cost savings are some of the factors driving the market. The container market is emerging and better tools are being developed, which would likely lead to increased adoption of CaaS in the next 5 years.
Regional Analysis:
According to the region analysis, the report is segmented into Americas, Europe, Asia Pacific, and Middle East & Africa; and major countries in each region have been analyzed. The Americas is set to be the leading region for the CaaS market growth followed by Europe for the technology adoption. Asia Pacific and MEA are set to be the emerging regions. The MEA market revenue is expected to reach $122.5 million by 2023.
Vertical Analysis:
The major verticals covered are BFSI, retail, media & entertainment, healthcare, IT & telecom, travel & tourism, education, and government. Globally, the industry players are showing interest towards CaaS. The technology is already being incorporated and is widely accepted in IT & telecom, retail and BFSI sectors majorly due to the organization’s shift towards hybrid cloud ecosystem. The IT & telecom industry is set to be the leading vertical after retail. The market revenue for IT & telecom and retail is expected to reach $1,127.3 million and $653.9 million, respectively by 2023.
Key Players:
Microsoft, Cisco System, Google, VMware, IBM, Amazon Web Service (AWS), HPE, Docker, CoreOS, Mesosphere, Joyent, Giant Swarm, DH2i, ContainerShip, Kyup, and SaltStack.
Competitive Analysis:
The CaaS market is becoming a demanding technology. There are huge business opportunities where a lot of new players are entering the market and are collaborating with large players in providing various products and services. Especially, new start-ups are coming with new products/services in the market and they are expecting to see a double-digit growth in the upcoming years. In this space, collaboration and merger & acquisition activities are expected to continue.
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Benefits:
The report provides an in-depth analysis of the container as a service market aiming to bring down the operational cost for the enterprises. The report provides a detailed analysis of the CaaS in terms of application, deployment, verticals, and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the CaaS adoption in the upcoming years. From the other end, the report provides details about the major challenges that are going to impact on the market growth. Furthermore, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the market. This will help the key stakeholders to analyze before investing or expanding the business in this market.
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