The Microservices Architecture Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Microservices Architecture Global Market Report 2024, The microservices architecture market size has grown rapidly in recent years. It will grow from $5.34 billion in 2023 to $6.41 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to rise of cloud computing, digital transformation, cultural shift towards DevOps practices, demand for scalability, growing data security concerns.
The microservices architecture market size is expected to see rapid growth in the next few years. It will grow to $13.14 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to growing adoption of serverless architecture, IoT (Internet of things) integration, enhanced security measures, focus on sustainability, microservices architecture. Major trends in the forecast period include AI-driven DevOps, event-driven architecture, continuous integration, shift towards micro frontends, enhanced hybrid cloud management.
The proliferation of connected devices is expected to propel the microservices architecture market going forward. Connected devices are physical objects that are connected wirelessly to a network (the internet) with each other or other systems and can send and receiving data to form communication among them, which includes smartphones, laptops, smart vehicles, and others. Microservices architecture-based solutions in connected devices help develop various software that provides seamless interaction among heterogeneous devices, protocols, and applications, increasing the ability of devices to share data from one computing environment to another. Additionally, microservices architecture provides continuous upgrades, integration, and maintenance of IoT applications in connected devices. For instance, in November 2023, according to Uswitch, a UK-based price comparison website, 92% of mobile users in the UK are using smartphone. Additionally, in March 2022, according to The Office of Communications, a UK-based government approved communications regulator, 21 % of internet users in UK uses smartphone. Therefore, the proliferation of connected devices is driving the growth of the microservices architecture market.
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The microservices architecture market covered in this report is segmented –
1) By Component: Solution, Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By Deployment Type: On-Premise, Cloud
4) By End-Use Industry: Banking, Financial Services And Insurance, Government, Manufacturing, IT And Telecom, Retail , Healthcare, Energy And Utilities, Media, Other End-User Industries
Major companies operating in the microservices architecture market are focused on partnerships to increase their profitability in the market. Partnerships in the context of microservices architecture refer to collaborative relationships between different entities, organizations, or teams that are involved in the design, development, deployment, and maintenance of microservices-based systems. For instance, in October 2022, Agora Publishing Services Ireland (APSI), an Ireland-based media, business service provider, 14 West, an US-based business administrative service provider collectively known as Westech collaborated with Red Hat Inc., a US-based software company. This Collaboration aims to establish a contemporary digital services framework anchored in microservices architecture with Red Hat OpenShift. Westech transformed its feature delivery timeline from months to weeks through DevOps, embracing CI/CD methods. The updated architecture enables independent scaling and updates, preventing service interference. Westech has broadened its backing for dynamic promotional content within a standardized framework, enhancing comprehension of customer needs and extending the reach to a wider audience.
The microservices architecture market report table of contents includes:
- Executive Summary
- Microservices Architecture Market Characteristics
- Microservices Architecture Market Trends And Strategies
- Microservices Architecture Market - Macro Economic Scenario
- Global Microservices Architecture Market Size and Growth
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- Global Microservices Architecture Market Competitive Benchmarking
- Global Microservices Architecture Market Competitive Dashboard
- Key Mergers And Acquisitions In Microservices Architecture Market
- Microservices Architecture Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Microsoft Corporation
- Amazon Web Services Inc.
- International Business Machines Corporation
- Cisco Systems Inc.
- Oracle Corporation
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The new research report titled "Microservices Architecture Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Microservices Architecture market include Tata Consultancy Services Limited, IBM Corporation, Microsoft Corporation, Oracle, Salesforce.com.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Microservices Architecture Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/microservices-architechture-market/download-sampleMarket DynamicsGrowing digitalization and shift from monolithic to microstructure is stimulating the growth of the market.
Giant stars such as Amazon, Netflix, LinkedIn, Spotify, SoundCloud, and other companies have evolved their applications towards a microservice architecture.
The global Microservices Architecture Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Microservices Architecture market include Tata Consultancy Services Limited, IBM Corporation, Microsoft Corporation, Oracle, Salesforce.com.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Microservices Architecture Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/microservices-architechture-market/download-sampleMarket DynamicsGrowing digitalization and shift from monolithic to microstructure is stimulating the growth of the market.
More and more businesses are turning digital to grab opportunities.
Giant stars such as Amazon, Netflix, LinkedIn, Spotify, SoundCloud, and other companies have evolved their applications towards a microservice architecture.
Microservices Architecture Market ScopeMarket Research Future (MRFR) asserts that the Microservices Architecture Market 2020 can reach an approx.
MRFR also confirms that the market expansion can take place at a rate of 17% between 2017 and 2023 (review period).Microservices Architecture Market Key PlayersTop companies competing in the market for microservices architecture include Salesforce.Com, Inc. (U.S.), Infosys Limited (India), Nginx Inc. (U.S.), Cognizant (U.S.), Mulesoft (U.S.), International Business Machines Corporation (U.S), Datawire (U.S.), Microsoft Corporation (U.S.), Software AG (Germany), to mention a few.Primary Boosters and Key ChallengesMicroservice architecture boosts the development as well as deployment of a set of features or an application that is made of modular, autonomous, self-contained and independent units.
With the help of microservices, these teams are able to quickly ship the advanced forms features or applications, with no disruptions in the rest of the solutions.
In a nutshell, microservices architecture helps prevent complexity, enabling small and agile teams to develop services.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/3149Rising use of connected devices like smartphones, wearables, tablets, smart home appliances, fitness trackers and drones is believed to be one of the chief growth boosters in the microservices architecture market.
This can be due to the fact that business customers nowadays demand for faster feature update in software applications.
This architecture is extremely fast and responsive to every kind of requirement in the market, as it holds the potential build, scale, evolve, and deploy the individual services within the cycle.
Microservices Architecture Market A new market study, titled “Microservices Architecture Market ” has been featured on Market Research Future.North America region is the dominating player in the microservices architecture market owing to presence of major players in the region.
US market contributes highest revenue in the North America region.
Its impact on e-commerce industry has been tremendous and has the leverage the business of major e-commerce companies such as Amazon.
It enables financial sector by providing easy extensibility and flexibility of components.
More Information@ https://www.marketresearchfuture.com/reports/microservices-architecture-market-3149Microservices Architecture Market SegmentationThe segmentation of the microservices architecture on the basis of application include retail, BFSI, healthcare, government, manufacturing and media.
It enable users with fault isolation technique, if one service failed, the entire application will operate until the fail service is recovered and recovering a fail service is not that complex, it has its own independent and deployment pipeline.The prominent players in the Microservices Architecture Market are- Cognizant (U.S.), International Business Machines Corporation (U.S), Microsoft Corporation (U.S.), Datawire (U.S.), Infosys Limited (India), Mulesoft (U.S.), Software AG (Germany), Nginx Inc. (U.S.), Salesforce.Com, Inc. (U.S.) among others.Market Research Analysis:High utilization of microservices architecture technology in retail, e-commerce and cloud based application is driving the market in North America region.
Microservices Architecture MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Microservices Architecture Market .
The growth sectors of the Microservices Architecture Market are identified with precision for a better growth perspective.Market Research Future (MRFR) has revealed in its recently published report that the global microservices architecture market is projected to reach a valuation of USD 33 Bn by the end of 2023.
The microservices architecture market is estimated to register a CAGR of 17% during the forecast period 2017 to 2023.
is expected to drive the demand for microservices architecture over the next couple of years.Cloud-based services offer availability, scalability and cost efficiency.
The adoption of a cloud-based solution such as software as a service (SaaS) and platform as a service (PaaS) has been favoring the acceleration of revenue creation for market players for years.
Furthermore, the penetration of connected devices such as the smartphones, drones, wearable devices, tablets, laptops, etc.
