The global cloud native platforms market size was USD 4.68 Billion in 2022 and is expected to register a revenue CAGR of 23.5% during the forecast period. Rising demand for cloud native platforms in Banking, Financial Services, and Insurance (BFSI), retail and e-commerce sectors is a major factor driving market revenue growth. Cloud native platforms play an important role in the Banking, Financial Services, and Insurance (BFSI) sector as they help organizations modernize their infrastructure and leverage the benefits of Cloud Computing.
Cloud native platforms provide ability to scale resources up and down on demand, making it easier for BFSI organizations to handle fluctuations in demand for their services which are driving revenue growth of the market. By using cloud native platforms, BFSI organizations automate manual tasks and reduce time spent on administrative tasks, which in turn results in increased efficiency and reduced costs. Moreover, BFSI organizations use cloud native platforms to create and deploy Digital solutions, such as mobile apps, that provide customers with a better experience and store and manage vast amounts of customer data securely and efficiently hence driving the market revenue growth.
Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/7023
For instance, on 1 March 2021, GFT, a global IT services and software engineering firm, and Thought Machine, a cloud native core banking company, announced availability of BankLite, a co-developed product that runs on Amazon Web Services (AWS) and allows users to create and deploy a cloud-based digital bank faster than ever before. BankLite is a completely modular solution built upon Vault, Thought Machine's cloud-native core banking engine, and hosted on AWS infrastructure. This enables banks to develop modern, highly adaptable end-to-end solutions by bringing necessary skills to support a multi-entity, multi-brand, and multi-country strategy.
Rising demand for architectural methods such as microservices and others is another factor driving market revenue growth. Microservices is an architectural method for designing applications. Microservices are key tiny programs that are bundled in distinct containers and communicate and link via Application Program Interfaces (APIs) as part of strong app architecture. Cloud native apps are built on microservices and can run individual applications or modules independently. These independent services include a provision for referencing specific data and a business aim. The usage of Application Program Interfaces (APIs) allows these modules to communicate with one another. The API has a unique feature that allows interconnection between containers and microservices while also improving maintenance and security hence driving the market revenue growth.
Competitive Landscape:
Science Soft USA Corporation, IndiaNIC Infotech Limited, Cognizant, Infosys Limited, LTIMindtree Limited, Ekco, IBM, Infostretch Corporation, Bacancy, Tracxn Technologies Limited.
The global market is further segmented into type and application:
By Component Outlook |
|
By Deployment Type Outlook |
|
By End-Use Outlook |
|
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To request customization of this report @ https://www.reportsanddata.com/request-customization-form/7023
Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.
Browse More Reports:
Active Protection System Market @ https://www.reportsanddata.com/report-detail/active-protection-system-market
Ammunition Handling System Market @ https://www.reportsanddata.com/report-detail/ammunition-handling-system-market
Automobile Leasing Market @ https://www.reportsanddata.com/report-detail/automobile-leasing-market
Automotive Electronic Locking Systems Market @ https://www.reportsanddata.com/report-detail/automotive-electronic-locking-systems-market
Automotive LED Driver Market @ https://www.reportsanddata.com/report-detail/automotive-led-driver-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report