Microservice architecture is defined as a method for development of application in which the large application is divided into small modular services. Each module assist a specific business goal and uses simple language with well-defined interface to communicate with other services.
Exclusive Summary About Report:
Microservice architecture is increasingly adopted by organization as an inbuilt mechanism for developing enterprise application. Cloud based solution such as software as a service (SaaS) and platform as a service (PaaS) is driving the market.Categroization of connected device such as smartphones, tablets, drones, wearable, smart home appliances and fitness tracker is driving the microservices architecture market.
The key trends that is majorly effecting the market include loose coupling, deployment and domain driven design.
As microservices operates on simple and smaller services, there is an increase demand for cloud solution and is one of the important factor driving the market.
North America region is the dominating player in the microservices architecture market owing to presence of major players in the region. Cloud solution such as software as service (SaaS) and platform as a service (PaaS) contributes largest market segment in the region.
US market contributes highest revenue in the North America region. Most of the companies in the North America region has adopted microservices architecture technology in e-commerce, financial and travel services.
The experts from the region emphasis on strong microservices architecture as compare to monolithic pattern. Its impact on e-commerce industry has been tremendous and has the leverage the business of major e-commerce companies such as Amazon.
It enables financial sector by providing easy extensibility and flexibility of components. Reducing risk and compute cost by transferring workloads to cost effective run times and boosting development cycles and swiftness.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Microservices Architecture Market …-Forecast to 2023”.
Microservices Architecture Market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- Cognizant (U.S.),
- International Business Machines Corporation (U.S),
- Microsoft Corporation (U.S.),
- Datawire (U.S.),
- Infosys Limited (India),
- Mulesoft (U.S.),
- Software AG (Germany),
- Nginx Inc. (U.S.),
- Com, Inc. (U.S.)
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Microservices Architecture Market Segmentation
The segmentation of the microservices architecture on the basis of application include retail, BFSI, healthcare, government, manufacturing and media. Micoservices architecture technology enable retailers by providing ownership, it allow users to develop and deploy new functionalities within a specified domain without depending on other development teams.
It enable users with fault isolation technique, if one service failed, the entire application will operate until the fail service is recovered and recovering a fail service is not that complex, it has its own independent and deployment pipeline.
Market Research Analysis:
High utilization of microservices architecture technology in retail, e-commerce and cloud based application is driving the market in North America region. In Europe region, the microservices architecture market is rising due to major application of it in IT and telecommunication, retail, BFSI and healthcare.
Cloud based solution is driving the market in the region. Proliferation of connected device such as smartphones, tablets, laptops and drones is driving the market in the region.
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The regional analysis of microservice architecture market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. North America region accounts for higher market share.
North America region possess highest market share due to major microservice architecture players present in the region. Asia-Pacific is expected to be fastest growing market as large number of organizations are adopting microservices architecture to meet needs of modern application development.
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