The growing number of open-source vendors providing container platforms, the rising popularity of microservices, the increasing digital transformation of businesses, and the requirement to abide by regulatory requirements are all expected to contribute to the global kubernetes market's significant growth potential. Adopting the application container technology could positively impact costs and speed up time to market, but several security issues must be resolved. The Kubernetes solution supports the healthcare, media and entertainment, telecom and IT, internet, banking, financial services, and insurance industries. Kubernetes is produced in large quantities due to the huge demand across various businesses, allowing the market to profit. Additionally, ongoing collaboration between applications in containers and the deployment of numerous applications across the open-source software development platform aid in platform portability, improve data traceability, fully utilize containers, and reallocate containers with little loss of data in case of an emergency, all of which are anticipated to have positively influenced the growth of the global Kubernetes market.
As individuals worldwide adapted to the realities of stay-at-home orders and quarantines, nearly everyone found that they were relying on technology more than ever. In certain cases, this prompts an almost immediate 10x increase in traffic to websites or applications. Since Kubernetes fundamentally follows a scale-out philosophy, they can add more servers to handle demand rather than completely rewrite the program. There will undoubtedly be some operational consequences, but they will be much less severe than if a new design were needed to meet the rising demand. Another factor contributing to the continuous growth of multi-cloud infrastructures is the growing use of microservices in COVID-19 for Kubernetes installations for such dispersed infrastructures. The requirement for creating apps and managing various infrastructures in this rapidly expanding multi-cloud world.
Developed Orchestration of Containers to Accelerate Market Growth
The market for kubernetes is primarily driven by the rapid advancement of container orchestration, greater vendor investment, increased focus on hybrid and multi-cloud architectures, and increased adoption of kubernetes by significant cloud service providers. The ubiquity of containers has altered how people approach developing, distributing, and maintaining software. As more and more containers are deployed at scale, businesses are choosing to use Kubernetes to manage their applications. This is the primary driver of the market growth for Kubernetes.
Insufficient Advanced Technology to Limit Market Growth
When implementing Kubernetes, businesses encounter security, storage, and networking difficulties. The whole service is excessive because of the security costs. The market needs to deal with storage and space issues quite frequently. The kubernetes market will allow businesses to advance the kubernetes technology in the future, however, these constraints are now limiting market expansion.
Based on type, the kubernetes market is segmented into cloud-based and on-premise. The on-premise category dominated the market in 2022. The causes can be ascribed to the government's concern over protecting sensitive data related to citizen privacy and national security. On-premise infrastructure continues to be favored as a result. These factors are expected to accelerate the on-premise segment's growth in the foreseeable years.
Based on application, the kubernetes market is segmented into BFSI, healthcare, media and entertainment, telecom and IT, internet and others. The BFSI category dominated the market in 2022. The variables that can be linked to the expansion of financial sector regulations, traditional businesses in the BFSI vertical needing to modernize with cutting-edge technologies to fulfill these regulatory needs, are driving demand for this category.
North America is projected to hold the largest share of the kubernetes market over the forecast period. The North American market will grow due to regional technical improvements, strict laws covering many end-user verticals, affordable pricing for kubernetes services, simplicity of deployment among businesses in the region, and ongoing initiatives. Regional market expansion is significantly influenced by low labor prices, simple availability of raw materials, and evolving development methods to satisfy consumer demand. On the other hand, the Asia Pacific kubernetes market is anticipated to grow significantly. Creating sophisticated and secure cloud-based solutions, increasing expenditure on enhancing infrastructure, tax reformation policies, developing smart city projects, and expanding the digital economy are likely to be the main drivers of the growth. Companies in this region are switching from a customer acquisition strategy to a customer experience strategy. Most of the top firms are updating and safeguarding their legacy software.
LIST OF KEY COMPANIES PROFILED:
- Cisco Systems
- Huawei Technologies
|Market Size in 2022||USD 1.8 Billion|
|Market Forecast in 2030||USD 7.8 Billion|
|Compound Annual Growth Rate||23.40%|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Application and By Geography|
|By Industry Vertical||