“Microservices Architecture Market to Reach USD 8.07 Billion by 2026| Top Impacting Factors and Opportunity Analysis.”
This study presents the analytical depiction of microservices architecture market trends and future estimations to determine the imminent investment pockets.
PORTLAND, PORTLAND, OR, UNITED STATE, September 8, 2023/EINPresswire.com/ — Rise in digital transformations, 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 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 market 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 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 increase in adoption of microservices architecture in telecom applications, development of data centers, and surge in penetration rate of connected devices in this province.
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 component, 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 adoption of these platforms and software has driven the growth of the segment.
The report focuses on the growth prospects, restraints, and trends of the microservices architecture market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global market.
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Leading Market Players:
➢ Software AG
➢ Syntel
➢ Oracle
➢ Salesforce.com.
➢ Tata Consultancy Services Limited
➢ Microsoft Corporation
➢ Datawire
➢ MuleSoft Inc.
➢ IBM Corporation
➢ CA Technologies
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Similar Reports:
1. Cloud Microservices Platform Market
2. Software Architecture Market
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