Platform Engineering Services Market By Service Type (Design and Architecture, Development and Implementation, Integration and Migration, Support and Maintenance, Optimization and Performance Tuning, Others), By Deployment Mode (On-premise, Cloud), By Ent

Platform Engineering Services Market By Service Type (Design and Architecture, Development and Implementation, Integration and Migration, Support and Maintenance, Optimization and Performance Tuning, Others), By Deployment Mode (On-premise, Cloud), By Enterprise Size (Large Enterprise, Small and Medium-sized Enterprise), By Industry Vertical (IT and Telecom, BFSI, Manufacturing, Retail and E-commerce, Healthcare, Government, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Platform engineering services are a new movement that aims to modernize the supply of enterprise software, especially for digital transformation. A dedicated product team develops and maintains the engineering platform, which is made to support the requirements of software developers and others by offering standard, reusable tools and capabilities and interacting with complicated infrastructure. In reaction to the growing complexity of contemporary software architectures, platform engineering services are gaining popularity. In the modern world, non-expert end users are frequently asked to handle a collection of intricate services. Furthermore, an engineering platform's specific capabilities are solely determined by the demands of its end users. The platform engineering service is provided to clients who may be developers, data scientists, or end users. These services are created by a committed team of professionals. Platform teams must first comprehend the requirements of their user groups, set priorities for their work, and then create platforms that will be helpful to their intended users. A company that offers product engineering services prioritizes cutting down on Time-to-Market (TTM), redesigning products, and lowering the total cost of ownership for innovative solutions. Moreover, organizations must overcome the challenges of a small staff and tight financial resources to speed up the time to market for their products.

Furthermore, factors such as the rise in the demand for advanced technologies and surge in demand for continuous and fast application delivery primarily drive the platform engineering services market growth. However, expensive initial investments and lack of awareness for new product engineering services hamper the market growth to some extent. Moreover, more smart city projects are being undertaken and are expected to provide lucrative opportunities for the market growth during the forecast period.

The platform engineering services market is segmented on the basis of service type, deployment mode, enterprise size, industry vertical, and region. On the basis of service type, it is segregated into design and architecture, development and implementation, integration and migration, support and maintenance, optimization and performance tuning and others. On the basis of deployment mode, it is segregated into on-premise and cloud. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprise. On the basis of industry vertical, it is divided into IT and telecom, BFSI, manufacturing, retail and e-commerce, healthcare, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the platform engineering services industry are International Business Machine Corporation, Accenture, HCL Technologies Limited, Intel Corporation, ServiceNow, Inc., Oracle Corporation, Salesforce Inc., Amazon Web Services, Inc., Microsoft Corporation, and Cisco Systems, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the platform engineering services industry globally.

Depending on service type, the design and architecture segment dominated the global platform engineering services market share, owing to designing platforms that are adaptable to emerging technologies and market trends. This enables businesses to leverage new technologies and easily incorporate new features and functionalities into their platforms as they become available. The optimization and performance tuning segment would also showcase the fastest growth during the forecast period, owing to monitoring tools and technologies to collect real-time performance data, track key metrics, and detect performance anomalies. Real-time monitoring enables proactive identification of performance issues, immediate alerting, and prompt action to address potential performance bottlenecks, ensuring optimal platform performance and availability.

Region-wise, North America garnered the highest share for global platform engineering services market size in 2022, and is projected to retain its dominance by 2032, owing to the rising adoption of cloud and other emerging technologies in varied industries has led to a considerable rise in demand for platform engineering services. The Asia-Pacific region would also portray the fastest growth during the forecast period, owing to growing on account of evolving digital landscape, the growth of e-commerce and start-ups, cloud adoption, and the increasing importance of data-driven decision making.

Top impacting factors

Rise in the demand for advanced technologies

All industries require custom and high-grade components. Innovation is necessary in every industry, including automotive, aircraft, electrical connectors, and chemical processes. Progressive manufacturing is made feasible by many new and developing technologies. The majority of profits from advanced manufacturing are invested in R&D to enhance production processes. Traditional manufacturing often invests in higher output at a cheaper cost rather than innovation. As a result, they typically buy more manufacturing equipment and space rather than inventing new machinery. Advanced technology is described as a new or emerging IT innovation that has few users today but has the potential to have a big impact in the future. While this market is distinct from advanced manufacturing and manufacturing technology, they are nonetheless related. To enhance supply chain operations and product quality, advanced manufacturing uses cutting-edge technology and manufacturing equipment. This rise in demand for new innovative technologies is the key driver for the platform engineering service market.

Surge in demand for continuous and fast application delivery

The platform engineering industry is experiencing significant growth since the past few years as it helps organizations to bridge the gap between strategic goals and the day to day management of work. With increased visibility and alignment, organizations have the insights to support an outcome-driven approach to software development. Moreover, platform engineering solutions are enabling integration and deployment of code without delays which in turn is improving the frequency and quality of software delivery. Furthermore, platform engineering services are cutting the development time from months or weeks to days or even hours as application changes are done faster and frequently reach the production environment. Therefore, accelerating the prototype development cycle and reducing deployment time.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the platform engineering services market analysis from 2022 to 2032 to identify the prevailing platform engineering services market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the platform engineering services market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global platform engineering services market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Service Type

Design and Architecture
Development and Implementation
Integration and Migration
Support and Maintenance
Optimization and Performance Tuning
Others

By Deployment Mode

On-premise
Cloud

By Enterprise Size

Large Enterprise
Small and Medium-sized Enterprise

By Industry Vertical

IT and Telecom
BFSI
Manufacturing
Retail and E-commerce
Healthcare
Government
Others

By Region

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Accenture
Cisco Systems, Inc.
HCL Technologies Limited
Amazon Web Services, Inc.
International Business Machines Corporation
Intel Corporation
Salesforce Inc.
Microsoft Corporation
ServiceNow, Inc.
Oracle Corporation

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