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iCrowdNewswire Aug 10, 2020 5:34 AM ET

Microservices Architecture Market Size Worth $8.07 Billion by 2026 | 18.6% CAGR


Microservices Architecture Market Size Worth $8.07 Billion by 2026 | 18.6% CAGR

iCrowd Newswire - Aug 10, 2020

The Global Microservices Architecture Market is estimated to grow at a CAGR of 18.6% during the forecast period 2019-2026. As per the detailed market study, the global microservices architecture industry recorded $2.07 billion in the year 2018 and is anticipated to reach $8.07 billion by the end of the year 2026.

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Microservices architecture is a method of segmenting large software projects into smaller, loose and independent modules. This method of developing software systems has gained an immense popularity in the recent years, owing to scalability offered by this method in case of support for range of platforms and devices such as wearables, Internet of Things, mobile, web, etc.

Software built as microservices can be broken down into several component services to easy and individual deployment and redeployment. There are various large-scale applications and websites that ae based on microservices architecture such as The Guardian, PayPal, Twitter, the UK Government Digital Service, Amazon and eBay.

The global microservices architecture industry is driven by various growth factors such as increase in digital transformation, surge in adoption of cloud-based solutions, and proliferation of connected devices such as tablets, smartphones, and wearable technology among others in the global marketplace. Moreover, increase in adoption of cloud-based solutions such as platform as a service (PaaS) and software as a service (SaaS) among organizations further adds to the market growth over the future period. Whereas, security and compliance issues majorly impede the market growth to some extent. On the contrary, increasing adoption of virtualized infrastructure among enterprises and integration of IoT technology in microservice architecture offer lucrative opportunities for the market players operating in the global marketplace over the future period.

Segmentation Overview of the Global Microservices Architecture Market

The global microservices architecture market is segmented on the basis of various market segments such as component, deployment mode, organization size and industry vertical. These major market segments are further categorized into various sub-segments to study the market in detail.

The component solution segment dominated the global market share in the year 2018 with ~2/3rd of the market share and is estimated to maintain the dominance over the forecast period. Furthermore, the on-premise deployment segment accounted for ~3/5th of the market share in the global marketplace in the year 2018 and is estimated to maintain the dominance over the forecast period 2019-2026.

The Component Segment of the Global Microservices Architecture Market is Sub-Segmented into:

The Deployment Mode of the Global Microservices Architecture Market is Sub-Segmented into:

The Organization Size of the Global Microservices Architecture Market is Sub-Segmented into:

The Industry Vertical of the Global Microservices Architecture Market is Sub-Segmented into:

Geographical Overview of the Global Microservices Architecture Market

The North America microservices architecture market dominated the global marketplace in the year 2018 and is estimated to maintain the dominance over the forecast period 2026. The regional market dominance is attributed to presence of developed economies such as the U.S. and Canada in the region. Moreover, the Asia Pacific microservices architecture market is estimated to grow at the fastest growth rate with a CAGR of 23.4% during 2019-2026. The regional market growth is attributed to increase in adoption of microservices architecture in telecom applications, increase in penetration of connected devices and continuous development of data centres in the region.

Key Players Insights of the Global Microservices Architecture Market

CA Technologies, Oracle, IBM Corporation, MuleSoft Inc., Salesforce.com, Datawire, Tata Consultancy Services Limited, Microsoft Corporation, Syntel and Software AG are some major players included in the research study of the global microservices architecture market. The market players are adopting various competitive strategies to withhold majority of the market share in the global marketplace.

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Keywords:    Microservices Architecture Market

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