Market Insights:
Market Research Future (MRFR) has revealed in its recently published report that the global microservices architecture market is projected to reach a valuation of USD 33 Bn by the end of 2023. The microservices architecture market is estimated to register a CAGR of 17% during the forecast period 2017 to 2023. The application of the technology across different industry verticals such as BFSI, retail, healthcare, IT & telecommunication, etc. is expected to drive the demand for microservices architecture over the next couple of years.
Cloud-based services offer availability, scalability and cost efficiency. The adoption of a cloud-based solution such as software as a service (SaaS) and platform as a service (PaaS) has been favoring the acceleration of revenue creation for market players for years. The trend is poised to perpetuate over the next few years. Furthermore, the penetration of connected devices such as the smartphones, drones, wearable devices, tablets, laptops, etc. have paved the way for growth opportunities of the microservices architecture market, which is likely to complement market expansion during the assessment period. Other factors responsible for catalyzing market proliferation include an accessible platform for new developers, improvement in fault isolation system, eradication of long-term commitment on a single technology, etc.
Market Segmentation:
By deployment, the global microservices architecture market has been segmented into cloud and on premise.
By application, the microservices architecture market is segmented into healthcare, BFSI, government, IT & telecommunication, manufacturing, retail, media, and others.
By service, the global microservices architecture segment has been segmented into inventory microservice, accounting microservice, shipping microservice, and store microservice.
Regional Analysis:
By region, the global microservices architecture market has been segmented into Asia Pacific, North America, Europe and Rest of the World. North America is likely to retain a dominant position globally during the forecast period. The growth is attributable to the growth strategies being implemented by the key players in the region. The constant innovation in technology and investments in its adoption are fueling the microservices architecture market growth in the region. Asia Pacific is poised to exhibit a relatively higher CAGR owing to the large-scale adoption of the technology in the region. The presence of emerging markets such as India and China is likely to accelerate the adoption of the technology. Europe is anticipated to remain a significant growth pocket over the next couple of years. Meanwhile, the Rest of the World is estimated to exhibit sluggish growth owing to limited technological penetration in some parts of the region.
Competitive Dashboard:
Some of the key players profiled by MRFR in the report are Cognizant (U.S.), Microsoft Corporation (U.S.), Datawire (U.S.), Nginx Inc. (U.S.), Infosys Limited (India), International Business Machines Corporation (U.S.), Mulesoft (U.S.), Software AG (Germany), and Salesforce.Com, Inc. (U.S.).
Industry Developments:
In August 2018, National Australia Bank adopted microservices for USD 1.5 billion for transforming the bank’s IT architecture. NAB’s IT transformation touches on three main points, viz. the adoption of microservices and APIs, data delivered as a service on the cloud, and, in-depth use of cloud.
In August 2018, Netifi, a microservices startup, has attracted seed funding from early investors led by Dell Technologies Capital.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
More Information : https://www.marketresearchfuture.com/reports/microservices-architecture-market-3149
About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services. Contact: Market Research Future +1 646 845 9312 Email: [email protected]
The global Microservices Architecture Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Microservices Architecture market include Tata Consultancy Services Limited, IBM Corporation, Microsoft Corporation, Oracle, Salesforce.com.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Microservices Architecture Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/microservices-architechture-market/download-sampleMarket DynamicsGrowing digitalization and shift from monolithic to microstructure is stimulating the growth of the market.
More and more businesses are turning digital to grab opportunities.
Giant stars such as Amazon, Netflix, LinkedIn, Spotify, SoundCloud, and other companies have evolved their applications towards a microservice architecture.
Microservices Architecture Market Research ReportThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report onMicroservices Architecture Market.
The growth sectors of theMicroservices Architecture Market Research Report are identified with precision for a better growth perspective.Microservice architecture is increasingly adopted by organization as an inbuilt mechanism for developing enterprise application.
Growing market penetration of connected device like smartphones, tablets, wearable, drones, fitness tracker & smart home appliances is driving the microservices architecture market.The key trends that are majorly affecting the market include loose coupling, deployment and domain driven design.
The Global Microservices Architecture Market is growing with the rapid pace mainly due to the wide range of advantages it offers and the burgeoning advent technology.Acknowledging the accruals the market is perceiving currently and the potential of, the market to grow further in the years to come, Market Research Future, recently published a study report.
To enable organization with healthy microservices, cloud based platform automatically shift the instances to servers or vendor management system when the software or hardware on which they are running fails.While there are some restraints in the microservices architecture which may hamper the market that includes communication failure, network inactivity and failure of single service.
This is mainly due to, that in microservices architecture, to communicate with other services, REST API (Representational State Transfer Application Program Interface) is used which gives rise to additional HTTP call overhead.The advantage of microservices architecture includes improvement in fault isolation system, provide easy platform for new developer and helps to eradicate long term commitment on single technology.
All over the internet, one can check a big spike of interest over this term, as the trend keeps on increasing as the years are passing.There prevail some strong points which favor the hype of microservices architecture.
Several renowned companies such as Netflix, Amazon, and others have mentioned the way they scaled and eased the continuous delivery of their services using a microservices architecture.FREE PDF@ https://www.marketresearchfuture.com/sample_request/3149What is it—Microservices ArchitectureMicroservices architecture is defined as a method used for the development of applications in which the extensive application is bifurcated into small modular services.
In this, each module tends to help a particular business goal and uses simple language with a well-defined interface to interact with other services.In recent times, microservices architecture is progressively adopted by big organizations, across the globe, as an integral mechanism for developing applications.
These independent application components tend to communicate with each other using RMI (Remote Method Invocation), Restful Web Services, or Push Messaging.There are several characteristics of microservices architecture based application that are as follows:Service enabled and independently running components.Independently running components classify business capabilities.Smart components use simple communication channels such as simple RESTish protocol or lightweight messaging queue.Each independent component can use its exclusive standard for progress and deployment.
Includes automated infrastructure management.Why a Microservices Architecture is Important?Designing a particular architecture can be distinguished as much as a business decision in a technological way.
Faster Innovation Businesses should go for microservices architecture to adapt to the changing market conditions as faster innovation is taking place in this current era.
The new research report titled "Microservices Architecture Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Microservices Architecture market include Tata Consultancy Services Limited, IBM Corporation, Microsoft Corporation, Oracle, Salesforce.com.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Microservices Architecture Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/microservices-architechture-market/download-sampleMarket DynamicsGrowing digitalization and shift from monolithic to microstructure is stimulating the growth of the market.
Giant stars such as Amazon, Netflix, LinkedIn, Spotify, SoundCloud, and other companies have evolved their applications towards a microservice architecture.
Microservices Architecture Market ScopeMarket Research Future (MRFR) asserts that the Microservices Architecture Market 2020 can reach an approx.
MRFR also confirms that the market expansion can take place at a rate of 17% between 2017 and 2023 (review period).Microservices Architecture Market Key PlayersTop companies competing in the market for microservices architecture include Salesforce.Com, Inc. (U.S.), Infosys Limited (India), Nginx Inc. (U.S.), Cognizant (U.S.), Mulesoft (U.S.), International Business Machines Corporation (U.S), Datawire (U.S.), Microsoft Corporation (U.S.), Software AG (Germany), to mention a few.Primary Boosters and Key ChallengesMicroservice architecture boosts the development as well as deployment of a set of features or an application that is made of modular, autonomous, self-contained and independent units.
With the help of microservices, these teams are able to quickly ship the advanced forms features or applications, with no disruptions in the rest of the solutions.
In a nutshell, microservices architecture helps prevent complexity, enabling small and agile teams to develop services.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/3149Rising use of connected devices like smartphones, wearables, tablets, smart home appliances, fitness trackers and drones is believed to be one of the chief growth boosters in the microservices architecture market.
This can be due to the fact that business customers nowadays demand for faster feature update in software applications.
This architecture is extremely fast and responsive to every kind of requirement in the market, as it holds the potential build, scale, evolve, and deploy the individual services within the cycle.
