Microservices Architecture Market Valued at USD 2,073 Million in 2018, Projected to Hit USD 8,073 Million by 2026

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, "Microservices Architecture Market by Component, Deployment type, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018–2026," The global microservices architecture market size was valued at $2,073 million in 2018, and is projected to reach $8,073 million by 2026, registering a CAGR of 18.6% from 2019 to 2026.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/5994

Rapid adoption of cloud-based solutions such as software as a service (SaaS) and platform as a service (PaaS) among enterprises and increase in the use of connected devices such as tablets, smartphones, fitness trackers and others are driving the market growth for microservices architecture industry. Moreover, factors such as improvement in fault isolation, eradication of long-term commitment on single technology and easy platform for new developers drives microservices architecture market growth. However, security and compliance issues while implementation of microservice architecture hampers the growth of the market. Furthermore, emergence of IoT technology in microservice architecture and adoption of virtualization are anticipated to create major opportunities for the market.

By component, the solutions segment garnered major microservices architecture market share in 2018 and is expected to remain dominant during the forecast period. The growth of this segment is mainly attributed to wide adoption of MSA across various industry verticals for the development of the software which includes public safety, public works, and utility companies. In addition to this, rise in the adoption of the cloud-based SaaS providers in the enterprise business functionality has fueled the need to integrate the multiple application providers and services to support the enterprise. However, the services segment is expected to witness highest growth rate in the upcoming years.

Based on deployment type, the on-premise segment dominated the global microservices architecture market share in 2018 and is expected to generate highest revenue during the forecast period as number of organizations in regulated industries have no option and they had to choose an on-premise model because of the need to tightly control data and document processes. However, the cloud segment is expected to witness highest growth rate in the upcoming years. The growth of this segment is mainly attributed to the adoption of hybrid cloud across various end-user industries which is driving the cloud microservice architecture market, as number of enterprises are in different stages of cloud adoption. The hybrid cloud provides them maximum flexibility to explore new products and business models.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/microservices-architecture-market/purchase-options

By organization size, large enterprises dominated the global microservices architecture market in 2018 and is expected to remain dominant during the forecast period. As number of large organizations such as Amazon and Netflix are adopting microservices architecture to enable hyperscale and continuous deliver complex applications. Rather than going to the traditional approaches, number of large enterprises are adopting DevOps and agile practices to deliver applications quickly and to deploy them with lower failure rate which fuels the growth of the microservices architecture market.

In terms of industry vertical, the BFSI segment is expected to witness high adoption of microservices architecture solutions and services. The dominance of this industry is attributed to an increase in the customer data and financial information which need to be protected and stored. Further, the adoption of cloud microservices architecture infrastructure has increased mainly due to the increasing financial services, IT automation, and reforms in economy and banking services worldwide. Also, it microservices architecture helps BFSI organizations in improving the application development process, streamlining business operations, and enhancing customer experience which again fuels the growth of this segment. However, the healthcare segment is expected to witness highest growth rate in the upcoming years.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

Depending on component, the solutions segment dominated the global microservices architecture market in 2018, and is expected to generate highest revenue during the forecast period.

By deployment type, the on-premise segment dominated the market in 2018, and is expected to generate highest revenue during the forecast period. However, the cloud segment is expected to witness highest growth rate in the upcoming years.

On the basis of organization size, the large organizations segment dominated the global microservices architecture market in 2018, and is expected to remain dominant throughout the forecast period.

In terms of industry vertical, the BFSI segment dominated the global microservices architecture market in 2018, and is expected to generate highest revenue during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/5994

Some of the key microservices architecture industry players profiled in the report include Tata Consultancy Services Limited, IBM Corporation, Microsoft Corporation, Oracle, Salesforce.com., Datawire, MuleSoft Inc., Software AG, CA Technologies, and Syntel.

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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