Global Microservices Architecture Market Size study & Forecast, by Component (Solution, Service) By Deployment Type (On-premise, Cloud) By Organization Size (Large Enterprises, Small & Medium Enterprises) By Industry Vertical (BFSI, Manufacturing, Retail

Global Microservices Architecture Market Size study & Forecast, by Component (Solution, Service) By Deployment Type (On-premise, Cloud) By Organization Size (Large Enterprises, Small & Medium Enterprises) By Industry Vertical (BFSI, Manufacturing, Retail & E-commerce, IT & Telecom, Others) and Regional Analysis, 2023-2030

Global Microservices Architecture Market is valued approximately USD 5.49 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 18.66% over the forecast period 2023-2030. Microservices architecture is an architectural style for building applications as a collection of small, loosely coupled, and independently deployable services. In this architecture, an application is divided into multiple smaller services, each responsible for a specific business capability. The Microservices Architecture market is expanding because of factors such as increasing adoption of enterprise cloud and growing adoption of IoT connected devices. Services in a microservices architecture communicate with each other through well-defined APIs, typically using lightweight protocols like REST or messaging systems. This loose coupling allows services to evolve independently, enabling flexibility and easy replacement or addition of services. Its emergence has progressively increased during the last few decades.

According to the Statista, in 2022, 80% of enterprise respondents had implemented a hybrid cloud in their organisation. The transition to hybrid cloud solutions is typically done at the price of managing separate private and public clouds. Furthermore, in 2021, 30% of respondents employed multiple public clouds and one private cloud in their business. Overall, multi cloud and hybrid cloud architectures, which incorporate different clouds in one architecture model, are the leading architectures for cloud service delivery. Another important component driving space increase adoption of IoT connected devices. As per Statista, the number of Internet of Things (IoT) connected devices is estimated to reach approx. 17 billion connected devices by 2030. In addition, about 8.6 billion linked devices by 2030, the number of Internet of Things (IoT) connected devices in Greater China is expected to be the highest in the region. Europe and North America are also likely to lead in terms of the number of IoT devices. Also, growing adoption of virtualized infrastructure and rising adoption of the Internet of Things would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of microservices architecture stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Microservices Architecture Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players in the region. According to the Statista, the Infrastructure as a Service segment is estimated to reach USD 69.46 billion in 2023. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising number of enterprises and increasing government initiatives for digitalization in the market space.

Major market player included in this report are:
CA Technologies
IBM corporation,
Microsoft corporation,
Oracle Corporation,
Tata Consultancy Services Limited,
Cognizant,
Infosys Limited,
Datawire,
Software AG,
Salesforce, Inc

Recent Developments in the Market:
In June 2022, Salesforce is now connecting heterogeneous data sets using robotic process automation with no-code technology built by its MuleSoft unit. Bots built with an RPA-infused integration platform can now automate much of the effort required to connect data from disparate systems.

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

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 caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Component
Solution
Service

By Deployment Type
On-premise
Cloud

By Organization Size
Large Enterprises
Small & Medium Enterprises

By Industry Vertical
BFSI
Manufacturing
Retail & E-commerce
IT & Telecom
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
CA Technologies
IBM corporation,
Microsoft corporation,
Oracle Corporation,
Tata Consultancy Services Limited,
Cognizant,
Infosys Limited,
Datawire,
Software AG,
Salesforce, Inc

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.