Report ID: UCMIG45A2003
Microservices Architecture Market Size, Share, Growth Analysis, By COMPONENT(Solutions, Services), By DEPLOYMENT MODE(On-premise, Cloud), By ORGANIZATION SIZE(Large Enterprises, Small & Medium Enterprises), By INDUSTRY VERTICAL(BFSI, Manufacturing, Retail and Ecommerce, IT and Telecom), By REGION(North America, U.S., Canada, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG45A2003 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Microservices Architecture Market Insights
Market Overview:
One of the key factors bolstering the growth of the market is the increasing need for digital transformation to meet business requirements. Compared to traditional monolithic applications, the microservices architecture enables scalability and speed efficiency, and improved development. They also support consumer choices, provide transparency, and expand the business reach. For enhancing their business agility, their utilization is rising among enterprises and numerous industry verticals. The market growth is positively influenced by boosting sales of connected devices, such as smartphones, wearables, smart home applications, drones, tablets, and fitness trackers. Software applications can be accredited to their ability to deploy individual services and provide faster feature updates. There is a considerable rise in the usage of cloud-based solutions worldwide, due to better performance, reduced risk, and cost efficiency. With technological advancements, such as the integration of microservices architecture with the Internet of Things(IoT), this is confluence. Across the globe, the growing utilization of virtualized infrastructure impelled the market.
Microservices Architecture Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Software & Services by segment aggregation, the contribution of the Internet Software & Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Microservices Architecture Market Report Snapshots
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