Microservices Architecture Market 2022-27: Industry Size, Share and Trends

IMARC Group expects the market to reach a value of US$ 6.84 Billion by 2027, exhibiting a CAGR of 15.70% during 2022-2027.

According to the latest report by IMARC Group, “Global Microservices Architecture Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027”, the global microservices architecture market size reached US$ 2.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.84 Billion by 2027, exhibiting a CAGR of 15.70% during 2022-2027.

Microservices architecture comprises of autonomous services that are highly manageable and testable, loosely coupled, independently deployable, and organized as per various business capabilities. They enable frequent and reliable delivery of large and complex applications and allow organizations to improve their technology stack. Microservices architecture assists in establishing communication with other services by utilizing event streaming, application programming interface (API), message brokers, etc. It is decentralized, failure-resistant, evolutionary, etc. Consequently, microservices architecture finds extensive utilization in various industries, such as manufacturing, healthcare, IT and telecom, retail and e-commerce, etc.

Microservices Architecture Market Trends and Drivers:

The inflating need for digital transformation to meet business requirements is primarily driving the microservices architecture market. Additionally, the widespread adoption of connected devices, including smartphones, wearables, drones, tablets, fitness trackers, etc., owing to their ability to deploy individual services and provide faster feature updates for software applications, is further catalyzing the market growth.

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Besides this, the growing popularity of cloud-based solutions, on account of their better performance, reduced risk, cost efficiency, etc., is acting as another significant growth-inducing factor. Moreover, numerous technological advancements, including the increasing integration of microservices architecture with the Internet of Things (IoT), are also positively influencing the global market. Apart from this, the escalating demand for virtualized infrastructures is anticipated to fuel the microservices architecture market over the forecasted period.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Microservices Architecture Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Broadcom Inc., Cognizant, F5 Inc., Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce Inc., Software AG and Tata Consultancy Services Limited.

The report has segmented the market on the basis of region, component, deployment type, organization size and industry vertical.

Breakup by Component:
• Solutions
• Service

Breakup by Deployment Type:
• On-premises
• Cloud-based

Breakup by Organization Size:
• Large Enterprises
• Small and Medium-sized Enterprises

Breakup by Industry Vertical:
• BFSI
• Manufacturing
• Retail and E-Commerce
• IT and Telecom
• Healthcare
• Government
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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