Microservices architecture (MSA) is a procedure of developing software systems in which large monolithic applications are broken down into minor, manageable independent services. These services mainly focus on performing the tasks efficiently and communicate via language-agnostic protocols. By utilizing microservice architecture, organizations can concentrate on smaller independent services achieved by different smaller teams instead of focusing all teams on one large application.
MARKET SCOPE
The "Global Micro Service Architecture Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the micro service architecture market with detailed market segmentation by component, deployment type, organization size, industry vertical, and geography. The report provides key statistics on the market status of the leading micro service architecture market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global micro service architecture market is segmented into solution and service.
- On the basis of deployment type, the market is segmented into on-premise and cloud.
- Based on organization size, the market is segmented into large enterprises and small and medium enterprises.
- Based on industry vertical, the market is segmented into BFSI, manufacturing, retail and e-commerce, IT and telecom, healthcare, government, and others.
MARKET DYNAMICS
Drivers:
- The major factors driving the growth of the microservice architecture are improvement in business time, offers transparency & enablement, and it extends the reach of the business.
- Increasing cloud adoption is also one of the driving factors anticipated to boost the growth of the micro services architecture market.
Restraints:
- High cost may hinder the growth of the micro services architecture market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The micro service architecture market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the micro service architecture market in these regions.
IMPACT OF COVID-19 ON MICRO SERVICE ARCHITECTURE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the micro service architecture market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from micro service architecture market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the micro service architecture market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Atos Syntel Inc.
- Broadcom
- IBM
- Infosys Limited
- Microsoft
- MuleSoft LLC
- Oracle
- Salesforce.com, inc.
- Software AG
- Tata Consultancy Services Limited