Global Microservices Architecture Market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
The report covers an in-depth analysis of COVID-19 pandemic impact on Global Microservices Architecture Marketby region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Global Microservices Architecture Market Dynamics:
Microservices Architecture (MSA) is a software development approach in which large monolithic systems are broken down into smaller, separate, manageable services that concentrate efficiently on executing one task and communicating via agnostic language protocols. Instead of concentrating all teams on one large application, numerous smaller teams manage smaller independent services that allow superior flexible structures, enhanced efficiency, and faster development cycles.The idea behind the design of microservices is to do one thing and do it well.
Some of the key advantages of the architecture of microservices are that it facilitates customer choice, openness and enablement, expands business scope, and, most importantly, by offering technological agility, increases business time to market. Using the architecture of microservices, major security updates can be distributed more easily as they use simplified code constructs compared to monolithic applications. The architecture of microservices is a digital business asset, especially for service providers, as it keeps services more competitive, appropriate, demand-oriented and adaptive to change. The architecture of microservices also offers an opportunity to expand service offerings by supplementing or adding value to an established service for various customer audiences.
The increased adoption of enterprise business features by cloud-based Software as a Service (SaaS) providers has increased the need to incorporate multiple application providers and services to serve the enterprise. As microservices operate on smaller and simpler services, one of the driving forces for the design demand for microservices is the rise in cloud adoption.The main driving force for the architecture industry is the proliferation of linked devices such as wearables, smartphones, smart home appliances, laptops, drones, and fitness trackers. This is because today’s business clients demand a product upgrade in a much faster iteration period for software applications than what has historically existed. The architecture of microservices is much more sensitive to consumer requirements as it is an approach to the development, scaling, evolution and implementation of individual services across the cycle.
Global Microservices Architecture Market is segmented by Offering, by deployment, industry vertical, and organization size and by region. By Offering, Solutionisanticipated to account for a major share during the forecast period in 2019 and is expected to keep its dominance over the forecast period owing to the increasing tablet and smartphone ownership along with enormous product growth.In the upcoming years, the increasing need for solution offerings to handle and further synchronise with several different channels using a single console is expected to boost the growth.
By deployment, cloud-based held the highest market share in 2019 due to the agile, smooth, scalable, and inexpensive characteristics, which was easily incorporated by different businesses in the corporate landscape. The growth of the cloud-based applications is due to the penetration of internet-of-things applications.By industry vertical, IT & telecommunications segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period. Due to the rising improved awareness about the use of organizational mobility tools to complement unified communications and collaboration systems capabilities.By organization size, large organization segment held the largest market share due to the large investments on requirements on the Microservices Architecture.
By geography, global Microservices Architecture market is segmented into North America, APAC, Europe, ME& Africa, and South America. Among these,North America held the highest market share of xx% in 2019 and is expected to keep its dominance over the forecast period owing to the growing demand across various end-user industries for advanced technology in this region. In addition to that, rising BYOD penetration, deployment of 5G, growing adoption of smartphone. The service in the market in APAC is forecasted to expand at a significant pace on account of the growing penetration of internet as well as digitization in countries such as India, China, Korea, etc.
Report covers in-depth analysis of key development, marketing strategies, supply-side and demand side indicators and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, joint ventures, collaborations, expansion, new product launches and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Microservices Architecture Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Microservices Architecture Market dynamics, structure by analyzing the market segments and project Global Microservices Architecture MarketClear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Microservices Architecture Market the report investor’s guide.
Scope of Global Micro services Architecture Market
Global Micro services Architecture Market Segmentation by Offering
Global Micro services Architecture Market Segmentation by Deployment
Global Micro services Architecture Market Segmentation by Industry Vertical
• Banking, Financial Services & Insurance
• IT & Telecommunications
• Travel and Transportation
• Food and Beverage
Global Micro services Architecture Market Segmentation by Organization Size
• Large Enterprises
• Small Medium Enterprises
Global Micro services Architecture Market Segmentation by Region
• North America
• ME& Africa
• Latin America
Global Micro services Architecture Market Major Players
• Tata Consultancy Services Limited
• IBM Corporation
• Microsoft Corporation
• Amazon Web Services, Inc.
• MuleSoft Inc.
• Software AG
• Atos Syntel Inc.
• F5, Inc. (NGINX)
• Infosys Limited
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