CaaS provides various benefits, such as operational simplicity, platform independency, resource optimization, and smooth scalability.
The major factors that would further drive the growth of the Containers as a Service Market include the benefits of cost-effectiveness, increased productivity, and increasing popularity of microservices.
The security segment is expected to be the fastest growing service type in the CaaS market, as it plays a vital role in securing the containers from intrusions. CaaS enables developers and IT operators to create, manage, and deploy containerized applications in a simplified manner. Container security is one of the major concerns among the enterprises. Therefore, CaaS vendors are significantly focusing on delivering high-quality security services. These factors are expected to drive the growth of the security segment at the highest CAGR.
The hybrid cloud segment is expected to be the fastest growing deployment model in the CaaS market, as the hybrid cloud model simultaneously targets the 2 major concerns of scalability and security, which are difficult to achieve using only the public or the private cloud deployment framework. Hybrid cloud is a one-stop solution for enterprises with low-budget constraints and high-security needs.
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher rate in the CaaS market, as SMEs are facing resource crunch, due to budget constraints. Moreover, the increasing requirement to optimize business processes is driving the growth of the SMEs market. Therefore, it is expected that SMEs would significantly adopt the CaaS technology during the forecast period.
The Banking, Financial Services, and Insurance (BFSI) vertical is expected to grow at the highest rate during the forecast period, due to the increased adoption of containers for modernizing, automating, and accelerating the technology environments. Enterprises are consistently focusing on improving the IT performance, reducing costs, and delivering an enhanced digital banking experience.