Insights on the Microservices Architecture Global Market to 2027 - Increasing Need for Digital Transformation to Meet Business Requirements is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 1, 2022--
The "Microservices Architecture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global microservices architecture market reached a value of US$ 2.76 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 6.84 Billion by 2027, exhibiting a CAGR of 16.33% during 2021-2027.
Companies Mentioned
- Broadcom Inc.
- Cognizant
- F5 Inc.
- Infosys Limited
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Salesforce Inc.
- Software AG
- Tata Consultancy Services Limited
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Microservices architecture comprises autonomous services that are highly manageable and testable, loosely coupled, independently deployable, and organized as per different business capabilities. They enable frequent and reliable delivery of large and complex applications and allow organizations to improve their technology stack.
They also assist in establishing communication with other services by utilizing application programming interface (API), event streaming and message brokers. Moreover, as they are failure-resistant, decentralized and evolutionary, the demand for microservices architecture is escalating around the world.
The increasing need for digital transformation to meet business requirements represents one of the key factors bolstering the growth of the market. Microservices architecture enables scalability and speed efficiency and improves development compared to traditional monolithic applications.
They also support consumer choices, provide transparency, and expand the business reach. As a result, their utilization is rising among enterprises and numerous industry verticals for enhancing their business agility. Apart from this, boosting sales of connected devices, such as smartphones, wearables, smart home applications, drones, tablets, and fitness trackers, is positively influencing the market growth. This can be accredited to their ability of deploying individual services and providing faster feature update for software applications.
Furthermore, due to better performance, reduced risk, and cost efficiency, there is a considerable rise in the usage of cloud-based solutions worldwide. This, in confluence with the technological advancements, such as the integration of microservices architecture with the Internet of Things (IoT), is creating a favorable market outlook. The market is also impelled by the growing utilization of virtualized infrastructure across the globe. Additionally, the outbreak of coronavirus disease (COVID-19) has resulted in the rising demand for cloud microservices on account of the adoption of remote working in numerous organizations.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global microservices architecture market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment type, organization size and industry vertical.
Breakup by Component:
- Solutions
- Service
Breakup by Deployment Type:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- BFSI
- Manufacturing
- Retail and E-Commerce
- IT and Telecom
- Healthcare
- Government
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global microservices architecture market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global microservices architecture market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global microservices architecture market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/ce23o
View source version on businesswire.com:https://www.businesswire.com/news/home/20221101006158/en/
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KEYWORD:
INDUSTRY KEYWORD: SOFTWARE NETWORKS DATA MANAGEMENT WEARABLES/MOBILE TECHNOLOGY TECHNOLOGY APPS/APPLICATIONS IOT (INTERNET OF THINGS) MOBILE/WIRELESS
SOURCE: Research and Markets
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