The microservice architecture generally decomposes a software or application in small parts that communicate with each other through common interfaces such as REST and APIs interfaces like Hypertext Transfer Protocol (HTTP). In addition, microservices allow users to increase deployment speed along with application reliability.
Furthermore, an increase in need among enterprises and numerous industry verticals to enhance their business agility is the key factor fuelling the demand for microservices architecture solutions. Moreover, the growing demand for cloud-based services is also anticipated to provide lucrative opportunities for the microservice architecture market in the near future.
The proliferation of connected devices-
The rising adoption of the Internet of Things (IoT) has heavily impacted the adoption of connected devices in numerous organizations. For instance, according to a survey by GSM Association’s Connected Life, by the end of 2020, there will be over 24 billion connected devices. In addition, according to Cisco’s recent Internet of Everything prediction, there would be over 37 billion intelligent things connected to the Internet such as smartphones, appliances, tablets, cars, sensors, and others. Moreover, these devices, in turn, involve various complexities from communication, cooperation to application. Thus, with the microservice architecture and its distributed approach, such complexities would be reduced significantly.
Security and compliance issues-
From the recent past, there has been an improvement in overall microservices infrastructure security. However, microservices still face several challenges that impact the work of architects as well as developers. Moreover, due to numerous Application Programming Interfaces (API) and network connections security in microservices can get compromised. In addition, improper designing of microservice architecture can lead to multiple vulnerabilities due to the uniform replicable nature of containers. Thus, such factors are may hamper the market growth for microservice architecture.
The solutions segment is anticipated to dominate the market during the forecast period
Growing need among numerous industry verticals and enterprises to improve their business agility is the key factor fuelling the demand for microservices architecture solutions. Moreover, growing demand among organizations due to increasing pressure from customers for faster delivery of applications by avoiding unnecessary delays is also driving the demand for microservice architecture solutions. Hence, such factors combined boosting the demand for microservice architecture solutions.
North America is anticipated to lead the market share
North America region is expected to acquire the highest share during the forecast period. The microservice architecture market growth in this region is mainly attributed to the existence of major market players such as Microsoft, IBM, and others. In addition, several companies that are operating in North America are expanding their business offerings by entering into strategic partnerships.
On the contrary, Asia-Pacific is estimated to hold the highest CAGR during the forecast period. The growth of the market in this region is majorly attributed to the growing adoption among large as well as small organizations to meet the requirements of modern application development.
Key Market Players
• Amazon Web Services (AWS)
• Infosys Limited
• Microsoft Corporation
• Nginx Inc.
• Tata Consultancy Services Limited
• Salesforce.Com, Inc.
Market Segments: Microservice architecture market
- By Component
- By Application
- Logistic Services
- Financial and Insurance Services
- Social Media Solutions
- IoT Solutions
- Video Streaming Solutions
- By Industry Vertical
- IT & Telecom
- By Region
- North America
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
• Industry Associations
• Patent Websites
• Company Annual Reports
• Company Websites
• Key industry leaders
• IEEE journals
• Technology consultants
• System Integrators
• BFSI experts
Key Questions Answered
• What are the key growth regions and countries?
• What are the important types and technologies being used?
• What are the market players doing, in terms of research and development?
• Which are the new applications for this market?
• What are the integrations happening?
• What is the recent news, developments, mergers, or large value deals?
• Software & solution providers
• System Integrators
• Regulatory Authorities
• Research and Innovation Organizations
• Suppliers and Distributors
• Other Channel Partners