Microservices Architecture Market Perceives A Fabulous Growth Prospects; Unleashed Market Insights Till 2023

The microservices architecture market is expected to grow at approx. USD 33 Billion by 2023, at 17% of CAGR between 2017 and 2023.

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FMicroservice 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.

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.

The advantage of microservices architecture includes improvement in fault isolation system, provide easy platform for new developer and helps to eradicate long term commitment on single technology. The adoption of microservice architecture has assist many big enterprises to begin there transitions as compared to monolithic design structure.

By deployment segment, the microservices architecture market includes cloud based and on-premise. The adoption of cloud based microservices architecture is driving the market. Cloud based microservices architecture provides scalability, cost efficiency and 24x7 availability. To enable organization with healthy microservices, cloud based platform automatically shift the instances to servers or vendor management system when the software or hardware on which they are running fails.

Key Players:

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)
Regional Analysis:

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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This release was published on openPR.