diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfiguration.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfiguration.java
index 1b0f9c4205..c0114bf211 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfiguration.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfiguration.java
@@ -17,7 +17,7 @@
 package org.springframework.boot.actuate.autoconfigure.observation;
 
 import io.micrometer.core.instrument.MeterRegistry;
-import io.micrometer.observation.Observation.GlobalTagsProvider;
+import io.micrometer.observation.Observation.GlobalKeyValuesProvider;
 import io.micrometer.observation.ObservationHandler;
 import io.micrometer.observation.ObservationPredicate;
 import io.micrometer.observation.ObservationRegistry;
@@ -48,7 +48,7 @@ public class ObservationAutoConfiguration {
 	static ObservationRegistryPostProcessor observationRegistryPostProcessor(
 			ObjectProvider<ObservationRegistryCustomizer<?>> observationRegistryCustomizers,
 			ObjectProvider<ObservationPredicate> observationPredicates,
-			ObjectProvider<GlobalTagsProvider<?>> tagProviders,
+			ObjectProvider<GlobalKeyValuesProvider<?>> tagProviders,
 			ObjectProvider<ObservationHandler<?>> observationHandlers,
 			ObjectProvider<ObservationHandlerGrouping> observationHandlerGrouping) {
 		return new ObservationRegistryPostProcessor(observationRegistryCustomizers, observationPredicates, tagProviders,
diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryConfigurer.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryConfigurer.java
index e4f0c88d35..83cb91eb83 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryConfigurer.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryConfigurer.java
@@ -18,7 +18,7 @@ package org.springframework.boot.actuate.autoconfigure.observation;
 
 import java.util.List;
 
-import io.micrometer.observation.Observation.GlobalTagsProvider;
+import io.micrometer.observation.Observation.GlobalKeyValuesProvider;
 import io.micrometer.observation.ObservationHandler;
 import io.micrometer.observation.ObservationPredicate;
 import io.micrometer.observation.ObservationRegistry;
@@ -29,7 +29,7 @@ import org.springframework.boot.util.LambdaSafe;
 /**
  * Configurer to apply {@link ObservationRegistryCustomizer customizers} to
  * {@link ObservationRegistry observation registries}. Installs
- * {@link ObservationPredicate observation predicates} and {@link GlobalTagsProvider
+ * {@link ObservationPredicate observation predicates} and {@link GlobalKeyValuesProvider
  * global tag providers} into the {@link ObservationRegistry}. Also uses a
  * {@link ObservationHandlerGrouping} to group handlers, which are then added to the
  * {@link ObservationRegistry}.
@@ -42,7 +42,7 @@ class ObservationRegistryConfigurer {
 
 	private final ObjectProvider<ObservationPredicate> observationPredicates;
 
-	private final ObjectProvider<GlobalTagsProvider<?>> tagProviders;
+	private final ObjectProvider<GlobalKeyValuesProvider<?>> tagProviders;
 
 	private final ObjectProvider<ObservationHandler<?>> observationHandlers;
 
@@ -50,7 +50,7 @@ class ObservationRegistryConfigurer {
 
 	ObservationRegistryConfigurer(ObjectProvider<ObservationRegistryCustomizer<?>> customizers,
 			ObjectProvider<ObservationPredicate> observationPredicates,
-			ObjectProvider<GlobalTagsProvider<?>> tagProviders,
+			ObjectProvider<GlobalKeyValuesProvider<?>> tagProviders,
 			ObjectProvider<ObservationHandler<?>> observationHandlers,
 			ObjectProvider<ObservationHandlerGrouping> observationHandlerGrouping) {
 		this.customizers = customizers;
@@ -79,7 +79,7 @@ class ObservationRegistryConfigurer {
 
 	private void registerGlobalTagsProvider(ObservationRegistry registry) {
 		this.tagProviders.orderedStream()
-				.forEach((tagProvider) -> registry.observationConfig().tagsProvider(tagProvider));
+				.forEach((tagProvider) -> registry.observationConfig().keyValuesProvider(tagProvider));
 	}
 
 	@SuppressWarnings("unchecked")
diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryPostProcessor.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryPostProcessor.java
index c3404c1fd8..baa1ca0d33 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryPostProcessor.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationRegistryPostProcessor.java
@@ -16,7 +16,7 @@
 
 package org.springframework.boot.actuate.autoconfigure.observation;
 
-import io.micrometer.observation.Observation.GlobalTagsProvider;
+import io.micrometer.observation.Observation.GlobalKeyValuesProvider;
 import io.micrometer.observation.ObservationHandler;
 import io.micrometer.observation.ObservationPredicate;
 import io.micrometer.observation.ObservationRegistry;
@@ -38,7 +38,7 @@ class ObservationRegistryPostProcessor implements BeanPostProcessor {
 
 	private final ObjectProvider<ObservationPredicate> observationPredicates;
 
-	private final ObjectProvider<GlobalTagsProvider<?>> tagProviders;
+	private final ObjectProvider<GlobalKeyValuesProvider<?>> tagProviders;
 
 	private final ObjectProvider<ObservationHandler<?>> observationHandlers;
 
@@ -48,7 +48,7 @@ class ObservationRegistryPostProcessor implements BeanPostProcessor {
 
 	ObservationRegistryPostProcessor(ObjectProvider<ObservationRegistryCustomizer<?>> observationRegistryCustomizers,
 			ObjectProvider<ObservationPredicate> observationPredicates,
-			ObjectProvider<GlobalTagsProvider<?>> tagProviders,
+			ObjectProvider<GlobalKeyValuesProvider<?>> tagProviders,
 			ObjectProvider<ObservationHandler<?>> observationHandlers,
 			ObjectProvider<ObservationHandlerGrouping> observationHandlerGrouping) {
 		this.observationRegistryCustomizers = observationRegistryCustomizers;
diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfigurationTests.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfigurationTests.java
index fdd38c9796..4f3a2273e0 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfigurationTests.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/observation/ObservationAutoConfigurationTests.java
@@ -19,14 +19,15 @@ package org.springframework.boot.actuate.autoconfigure.observation;
 import java.util.ArrayList;
 import java.util.List;
 
-import io.micrometer.common.Tag;
-import io.micrometer.common.Tags;
+import io.micrometer.common.KeyValue;
+import io.micrometer.common.KeyValues;
 import io.micrometer.core.instrument.MeterRegistry;
+import io.micrometer.core.instrument.Tags;
 import io.micrometer.core.instrument.observation.MeterObservationHandler;
 import io.micrometer.core.instrument.search.MeterNotFoundException;
 import io.micrometer.observation.Observation;
 import io.micrometer.observation.Observation.Context;
-import io.micrometer.observation.Observation.GlobalTagsProvider;
+import io.micrometer.observation.Observation.GlobalKeyValuesProvider;
 import io.micrometer.observation.ObservationHandler;
 import io.micrometer.observation.ObservationHandler.AllMatchingCompositeObservationHandler;
 import io.micrometer.observation.ObservationHandler.FirstMatchingCompositeObservationHandler;
@@ -104,7 +105,7 @@ class ObservationAutoConfigurationTests {
 			ObservationRegistry observationRegistry = context.getBean(ObservationRegistry.class);
 			Context micrometerContext = new Context();
 			Observation.start("test-observation", micrometerContext, observationRegistry).stop();
-			assertThat(micrometerContext.getAllTags()).containsExactly(Tag.of("tag1", "value1"));
+			assertThat(micrometerContext.getAllKeyValues()).containsExactly(KeyValue.of("tag1", "value1"));
 		});
 	}
 
@@ -164,16 +165,16 @@ class ObservationAutoConfigurationTests {
 	static class GlobalTagsProviders {
 
 		@Bean
-		GlobalTagsProvider<?> customTagsProvider() {
-			return new GlobalTagsProvider<>() {
+		Observation.GlobalKeyValuesProvider<?> customTagsProvider() {
+			return new GlobalKeyValuesProvider<>() {
 				@Override
 				public boolean supportsContext(Context context) {
 					return true;
 				}
 
 				@Override
-				public Tags getLowCardinalityTags(Context context) {
-					return Tags.of("tag1", "value1");
+				public KeyValues getLowCardinalityKeyValues(Context context) {
+					return KeyValues.of("tag1", "value1");
 				}
 			};
 		}
diff --git a/spring-boot-project/spring-boot-dependencies/build.gradle b/spring-boot-project/spring-boot-dependencies/build.gradle
index 6f3491e642..b8d15a03ce 100644
--- a/spring-boot-project/spring-boot-dependencies/build.gradle
+++ b/spring-boot-project/spring-boot-dependencies/build.gradle
@@ -976,7 +976,7 @@ bom {
 			]
 		}
 	}
-	library("Micrometer", "2.0.0-SNAPSHOT") {
+	library("Micrometer", "1.10.0-SNAPSHOT") {
 		group("io.micrometer") {
 			modules = [
 				"micrometer-registry-stackdriver" {