Microservices Architecture Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2026
The report focuses on the growth prospects, restraints, and trends of the microservices architecture market analysis.
PORTLAND, PORTLAND, OR, UNITED STATES, July 3, 2023/EINPresswire.com/ — A rise in digital transformations, the proliferation of connected devices, and surge in adoption of cloud-based solutions drive the growth of the global microservices architecture market. On the other hand, security and several compliance issues impede the growth to some extent. Nevertheless, rise in the implementation of virtualized infrastructure is expected to create multiple opportunities for the key players in the industry.
According to the report, the global microservices architecture industry was pegged at $2.07 billion in 2018 and is expected to hit $8.07 billion by 2026, registering a CAGR of 18.6% from 2019 to 2026.
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Based on components, the solution segment held the largest share in 2018, garnering nearly two-thirds of the global microservices architecture market in 2018, and is expected to retain its dominance throughout the forecast period. This is attributed to the widespread adoption of microservices architecture among enterprises. The services segment, on the other hand, would portray the fastest CAGR of 20.1% during 2019–2026. Increase in the adoption of these platforms and software has driven the growth of the segment.
Based on deployment mode, the on-premise segment accounted for around three-fifths of the global microservices architecture market revenue in 2018, and is expected to lead the trail by 2026. The fact that organizations in regulated industries rely on on-premise model to a significant extent has propelled the segment growth. At the same time, the cloud segment would manifest the fastest CAGR of 21.2% through 2026. Adoption of hybrid cloud across various end-user industries has driven the growth of the segment.
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Based on region, North America contributed to more than half of the global microservices architecture market share in 2018, and is projected to maintain its top status till 2026, owing to the presence of developed economies such as the U.S. and Canada. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 23.4% from 2019 to 2026. This is due to an increase in the adoption of microservices architecture in telecom applications, the development of data centers, and a surge in the penetration rate of connected devices in this province.
The global MSA market is dominated by global Microservices Architecture players such as Tata Consultancy Services Limited, IBM Corporation, Microsoft Corporation, Oracle, Salesforce.com., Datawire, MuleSoft Inc., Software AG, CA Technologies, and Syntel.
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Key Benefits for Stakeholders:
• This study presents the analytical depiction of global microservices architecture market trends and future estimations to determine the imminent investment pockets.
• A detailed analysis of the microservices architecture market segment measures the potential of the market. These segments outline the favorable conditions for the market.
• The report presents information related to key drivers, restraints, and opportunities.
• The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the microservices architecture industry.
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