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Microservices Architecture Market Overview
Microservices Architecture Market Size was valued at USD 6.5 Billion in 2023. The Microservices Architecture industry is projected to grow from USD 7.7 Billion in 2024 to USD 30.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.5% during the forecast period (2024 – 2032). Microservices architecture is progressively enhanced by association as an inbuilt instrument for creating multiple effective applications. A cloud-based arrangement such as programming as a help (SaaS) and platform as a service (PaaS) is driving the market. Categorization of associated gadgets, such as tablets, cell phones, drones, savvy home apparatuses, wearable, and wellness trackers, drives the market trends. The fundamental patterns that are significantly affecting the market include free coupling, sending, and space-driven plans. As microservices work on simple and more modest administrations, there is a rising interest in cloud arrangement and a significant factor driving the market.
Figure 1: Microservices Architecture Market Size, 2022-2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Microservices Architecture Market Trends
The growing use of virtualized infrastructure to boost the market growth
The market for virtualizing servers has been expanding recently. The expense of maintaining and building new infrastructure for servers is the fundamental driver behind the adoption of virtualization. Additionally, a lot of businesses have already made investments in virtual infrastructure, and a lot of cloud service providers provide infrastructure as a service (IaaS) utilizing virtual machines (VMs). Additionally, server virtualization separates a server into slots for different users' virtual computers (VMs). However, because it may share an OS, microservices architecture is seen to be more effective than VMs. Since virtual machines (VMs) need their operating system, additional resources are used. Therefore, it is projected that these reasons would present a significant business potential for microservices architecture.
Microservices Architecture Market Segment Insights
Microservices Architecture Deployment Insights
The market segmentation, based on Deployment, includes Cloud, On-Premise. The Cloud segment holds the majority share in 2021 of the market. Owing to the increase in preference of users toward hybrid cloud deployments, the hybrid cloud is an integrated service, which uses both public and private cloud with orchestration between the two cloud services. In addition, the cloud deployment mode offers numerous benefits such as reduced risk, control, better performance, and cost efficiency, which is opportunistic for the market.
Microservices Architecture Service Insights
Based on Service, the market segmentation includes Inventory Microservice, Accounting Microservice. The Accounting Microservice segment is estimated to account for the largest share of the market. Owing to the need for real-time data processing and the increasing adoption of microservices in various end-use industries. This is due to the increasing demand for accounting microservices from various end-use industries, such as banking, financial services, insurance (BFSI), healthcare, retail, and others.
Microservices Architecture Vertical Insights
Based on Vertical, the market segmentation includes Energy & Utilities, IT & telecommunications, BFSI, and Others. The BFSI segment dominated the market in 2021. The growth can be attributed to various factors, including the continuous pressure on enterprises to maintain a competitive advantage of their service offerings and a new-age business model that is customer-centric and technology-driven.
Figure 2: Microservices Architecture Market, by Vertical, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Microservices Architecture Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominated the market because of significant microservices architecture players. Other factors driving development in the local market include the rapid rise of connected device usage and the broad acceptance of cloud-based solutions.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: MICROSERVICES ARCHITECTURE MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
APAC is the fastest expanding region in the worldwide market, owing to the increasing use of microservices architecture by organizations seeking to enhance operational performance, reduce overall costs, and boost organizational agility. Furthermore, the growing popularity of virtualized infrastructure may represent a lucrative opportunity for the local economy in the next years. Increased deployment of connected devices across many companies as a consequence of the growing popularity of the Internet of Things (IoT) should increase growth prospects for microservices architecture in the sector.
Microservices Architecture Key Market Players & Competitive Insights
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Microservices Architecture industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Microservices Architecture industry to benefit customers and expand the market sector. Major market players, including Cognizant, Salesforce Inc, Infosys Limited, Microsoft Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Cognizant Technology Solutions is an information technology, consulting, and business process outsourcing firm. It provides infrastructure services, consultancy, systems integration, application development, application testing, application maintenance, and business process services, as well as digital services and solutions. In addition, the firm creates, licenses, deploys and maintains proprietary and third-party software products and platforms.
Infosys is a provider of consulting, technology, and outsourcing services. It provides a variety of IT services, such as application development and maintenance, independent validation, infrastructure management, business process management, and so on. Aerospace, automotive, defense, education, finance, healthcare, retail, and other industries are served by the firm.
Key Companies in the Microservices Architecture market include
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Salesforce, Inc.
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Infosys Limited
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International Business Machines Corporation
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Datawire
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Software AG
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Mulesoft
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Nginx Inc.
Microservices Architecture Industry Development
In September 2022, Microsoft released.NET Microservices: Architecture for Containerized.NET Applications, which innovates for Windows and Linux. These technologies provide container solutions that enable businesses to create and deploy applications at cloud speed and scale, regardless of platform or tool.
In June 2022, Cognizant was given an agreement by National Insurance Company Limited (NICL) to accelerate and manage its digital transformation via the use of digital technologies such as artificial intelligence, machine learning, automation, and microservices-based architecture.
Microservices Architecture Market Segmentation
Microservices Architecture Deployment Outlook
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Cloud
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On-Premise
Microservices Architecture Service Outlook
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Inventory Microservice
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Accounting Microservice
Microservices Architecture Vertical Outlook
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Energy & Utilities
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IT & Telecommunication
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BFSI
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Other
Microservices Architecture Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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