LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global application container market to grow to USD 2,650 million by 2021, at a CAGR of more than 31% over the forecast period, according to their latest report.
The research study by Technavio on the global application container market for 2017-2021 provides a detailed industry analysis based on the platform (swarm and kubernetes) and geography (EMEA, the Americas, and APAC).
|APAC is the fastest growing regional segment of the application container market, projected to showcase a CAGR of over 43% through the forecast period. It is set to catch up with EMEA and beat the Americas by the end of the forecast period. The increasing application workloads due to the swift digitization of operations will boost the demand for application containers in APAC.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global application container market:
- Growing volume of data generated by the adoption of IoT
- Increased use of multitenancy and cloud management platforms
- Rapid adoption of cloud-based services
Growing volume of data generated by the adoption of IoT
The growing number of connected devices is leading to the generation of large blocks of data. Industries like manufacturing, utility, retail, automotive, and social media are using IoT for the increased volume of data transfer. Ideas like connected cars, smart homes, connected healthcare, and smart cities are gaining popularity.
“Organizations are adopting big data management systems with application containers to efficiently analyze and manage large databases due to the increasing volume, variety, and velocity of data,” says Abhishek Sharma, a lead analyst at Technavio for data center research.
Increased use of multitenancy and cloud management platforms
Cloud computing service providers are offering multitenancy services capable of providing more than one customer with the provision to use a single set of software applications. The multitenancy cloud environment helps organizations to reduce the cost of IT by sharing IT resources. Small and medium businesses (SMBs) are subscribing to multitenancy architecture to reduce the cost of IT maintenance and achieve economies of scale. Multitenancy architecture provides the latest version of software, and organizations need not invest additional capital in upgrading their IT infrastructure.
Rapid adoption of cloud-based services
“Enterprises opt to adopt cloud-based services for at least one of their businesses' operational needs to simplify operations for end-users. Cloud service vendors are focusing on product improvement by adoption application containers to remain relevant in the competitive environment,” says Abhishek.
Virtualization offers a simplified platform to optimize IT resources making them more scalable, which indirectly reduces the cost of adopting the cloud. It also simplifies the delivery of services in cloud environments. Cloud-enabling technologies will continue to evolve in different areas including performance, availability, scalability, and security.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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