Microservices Architecture Market Next Big Thing | Prominent Companies – Oracle, Salesforce.com., Datawire

WILMINGTON, DE, UNITED STATES, February 1, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Microservices Architecture Market Size by Component, Deployment type, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018–2026,”

The global microservices architecture market was valued at $2,073.00 million in 2018, and is projected to reach $ 8,073.00 million by 2026, registering a CAGR of 18.6% from 2019 to 2026.

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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.

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Competitive Analysis:
The competitive environment of Microservices Architecture Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Microservices Architecture Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Tata Consultancy Services Limited
IBM Corporation
Microsoft Corporation
Oracle
Salesforce.com.
Datawire
MuleSoft Inc.
Software AG
CA Technologies
Syntel and Many More

Region wise, Asia-Pacific is projected to register the highest growth rate during the forecast period, owing to increase in adoption of microservices architecture in telecom applications , development of data centers, and surge in penetration rate of connected devices. Moreover, counties such as China, India, and Japan are expected to grow at a high rate, owing to increase in adoption of microservices architecture in e-commerce and rise in penetration of connected devices.

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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.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” 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.

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