With the emergence and long-term Impact of COVID-19, Global Microservices Architecture Market to reach USD 21.58 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Microservices Architecture Market points towards a potential rise to USD 21.58 Billion by 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.
Geographically, the global Microservices Architecture market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). 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, in terms of sales 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.
The global Microservices Architecture market is highly competitive owing to the presence of several key manufacturers such as CA Technologies, IBM corporation, Microsoft corporation, Oracle Corporation, Tata Consultancy Services Limited, Cognizant, Infosys Limited, Datawire, Software AG, Salesforce, Inc and others.
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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
Key findings of the study suggest:
- Global Microservices Architecture Market is anticipated to grow with a healthy growth rate of more than 18.66% over the forecast period 2023-2030.
- In the Deployment Type segment, Cloud emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to investment in emerging technologies, such as artificial intelligence systems, IoT, next-generation security, augmented reality or virtual reality, 3D printing, and robotics, driving the cloud microservices in the region.
- Asia Pacific is expected to grow at higher rate during 2022-2030 owing to rising number of SME’s and increasing government initiatives for digitalization in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Industry Vertical
- Retail & E-commerce
- IT & Telecom
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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