The application container market will grow from $762 million in 2016 to $2.7 billion by 2020, according to 451 Research’s latest Cloud-Enabling Technologies Market Monitor report.

Despite accounting for a relatively small portion of the overall market, application containers will see the fastest growth compared with other segments, with an estimated compound annual growth rate (CAGR) of 40% through 2020.

The firm estimates the entire cloud-enabling technologies (CET) market—which includes virtualization, containers, private platform-as-a-service (PaaS) and other automation and management software—will be worth about $23.1 billion in 2017. It is expected to grow at a 15% CAGR to $39.6 billion at year-end 2020.

The application container market can be compared with the OpenStack market, 451 said, since both are based on open source software and have participation from startups and established vendors. Both markets also saw relatively rapid growth during a short period of time in the enterprise.

But based on the number of vendors now participating and yet to emerge, containers may have a broader impact on the market than OpenStack. Analysts at 451 Research think enterprise adoption of containers and market maturity appears to be happening more rapidly than OpenStack.

“Two things stand out from our market sizing and research on containers: the breadth and diversity of vendors basing their offerings on containers or integrating and partnering to better support containers in their products, and the speed at which the container software and market are maturing based on production, use and revenue growth,” said Greg Zwakman, vice president, market and competitive intelligence at 451 Research.

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