Worldwide Container as a Service (CaaS) Market Size 2022 Top Countries Data, projected revenue figures, growth rate throughout the forecast period 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Worldwide Container as a Service (CaaS) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Worldwide Container as a Service (CaaS) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

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 Worldwide Container as a Service (CaaS) Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

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.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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.

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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.

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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