Report Ocean is a comprehensive analysis of the “Microservices Architecture Market ” that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.
The Global Microservices Architecture Market, presently valued at around USD 5.49 billion in 2022, foresees robust growth with a healthy compound annual growth rate (CAGR) exceeding 18.66% over the forecast period from 2023 to 2030. Microservices architecture, characterized by its small, loosely coupled, and independently deployable services, represents an innovative approach to application development.
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In this architecture, an application is disintegrated into multiple smaller services, each handling a specific business capability. The market for Microservices Architecture is expanding due to the increasing adoption of enterprise cloud solutions and the growing prevalence of IoT-connected devices. Services within this architecture communicate through well-defined APIs, employing lightweight protocols such as REST or messaging systems. The loose coupling allows services to evolve independently, offering flexibility and facilitating the seamless replacement or addition of services. The emergence of microservices architecture has been progressively prominent over the last few decades.
According to Statista, in 2022, 80% of enterprise respondents had implemented a hybrid cloud in their organizations, with a focus on managing separate private and public clouds during the transition. Moreover, the adoption of multi-cloud and hybrid cloud architectures, leading cloud service delivery models, is on the rise. Another significant driving factor is the surge in adoption of IoT-connected devices. Statista estimates that the number of IoT-connected devices will reach approximately 17 billion by 2030, with Greater China expected to have the highest number. Europe and North America are also poised to lead in terms of the sheer volume of IoT devices. Additionally, the growing adoption of virtualized infrastructure and the rising prominence of the Internet of Things present lucrative growth prospects for the market over the forecast period. However, the high cost associated with microservices architecture poses a challenge to market growth throughout the forecast period of 2023-2030.
Key Regions and Market Players:
The key regions considered for the Global Microservices Architecture Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America dominated the market in 2022, attributed to the presence of key market players in the region. According to Statista, the Infrastructure as a Service (IaaS) segment is estimated to reach USD 69.46 billion in 2023. Furthermore, the Asia Pacific region is expected to witness significant growth during the forecast period, driven by factors such as the rising number of enterprises and increasing government initiatives for digitalization.
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Major Market Players:
- CA Technologies
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Tata Consultancy Services Limited
- Infosys Limited
- Software AG
- Salesforce, Inc
- In June 2022, Salesforce introduced a no-code technology, developed by its MuleSoft unit, enabling the connection of heterogeneous data sets using robotic process automation. Bots built with an RPA-infused integration platform can now automate much of the effort required to connect data from disparate systems.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also provides detailed information about crucial aspects such as driving factors & challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro markets for stakeholders to invest in, along with a detailed analysis of the competitive landscape and product offerings of key players.
The detailed segments and sub-segments of the market are explained below:
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By Deployment Type:
By Organization Size:
- Large Enterprises
- Small & Medium Enterprises
By Industry Vertical:
- Retail & E-commerce
- IT & Telecom
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Global Microservices Architecture Market Report Scope:
- Historical Data: 2020 – 2021
- Base Year for Estimation: 2022
- Forecast Period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Deployment Type, Organization Size, Industry Vertical, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
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Key Questions Answered by the Report:
- What are the driving factors for market growth?
- What challenges and limitations does the market face?
- What emerging opportunities exist in the market?
- What potential threats and risks could impact the market?
- What is the current market size and growth rate?
- What are the market segments and their sizes?
- Which regions are projected to experience the highest growth and market share?
- What variables affect different geographical areas?
- Who are the major players in the market and their rankings?
- What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
- What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
- What is the present market outlook, considering recent changes and growth possibilities?
- What are the drivers, obstacles, and restrictions in both developing and emerging regions?
- How does the market analysis utilize Porter’s five forces analysis?
- How does the Value Chain provide insights into market dynamics?
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