The global microservices architecture market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.8 Billion by 2028, exhibiting a growth rate (CAGR) of 15.2% during 2023-2028.
Microservices architecture comprises autonomous services that are highly manageable and testable, loosely coupled, independently deployable, and organized as per different business capabilities. They enable frequent and reliable delivery of large and complex applications and allow organizations to improve their technology stack. They also assist in establishing communication with other services by utilizing application programming interface (API), event streaming and message brokers. Moreover, as they are failure-resistant, decentralized and evolutionary, the demand for microservices architecture is escalating around the world.
Microservices Architecture Market Trends:
The increasing need for digital transformation to meet business requirements represents one of the key factors bolstering the growth of the market. Microservices architecture enables scalability and speed efficiency and improves development compared to traditional monolithic applications. They also support consumer choices, provide transparency, and expand the business reach. As a result, their utilization is rising among enterprises and numerous industry verticals for enhancing their business agility. Apart from this, boosting sales of connected devices, such as smartphones, wearables, smart home applications, drones, tablets, and fitness trackers, is positively influencing the market growth. This can be accredited to their ability of deploying individual services and providing faster feature update for software applications. Furthermore, due to better performance, reduced risk, and cost efficiency, there is a considerable rise in the usage of cloud-based solutions worldwide. This, in confluence with the technological advancements, such as the integration of microservices architecture with the Internet of Things (IoT), is creating a favorable market outlook. The market is also impelled by the growing utilization of virtualized infrastructure across the globe. Additionally, the outbreak of coronavirus disease (COVID-19) has resulted in the rising demand for cloud microservices on account of the adoption of remote working in numerous organizations.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global microservices architecturemarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment type, organization size and industry vertical.
Breakup by Component:
Breakup by Deployment Type:
Breakup by Organization Size:
Small and Medium-sized Enterprises
Breakup by Industry Vertical:
Retail and E-Commerce
IT and Telecom
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Broadcom Inc., Cognizant, F5 Inc., Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce Inc., Software AG and Tata Consultancy Services Limited.
Base Year of the Analysis
Component, Deployment Type, Organization Size, Industry Vertical, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Broadcom Inc., Cognizant, F5 Inc., Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce Inc., Software AG and Tata Consultancy Services Limited
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Key Questions Answered in This Report
The global microservices architecture market was valued at US$ 3.3 Billion in 2022.
We expect the global microservices architecture market to exhibit a CAGR of 15.2% during 2023-2028.
The increasing deployment of microservices architecture services over traditional monolithic applications, as it enables scalability and speed efficiency and improves development, is primarily driving the global microservices architecture market.
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of cloud microservices architecture services to meet business requirements, during the remote working scenario.
Based on the component, the global microservices architecture market can be segmented into solutions and service. Currently, solutions hold the majority of the total market share.
Based on the deployment type, the global microservices architecture market has been divided into on-premises and cloud-based, where on-premises currently exhibit a clear dominance in the market.
Based on the industry vertical, the global microservices architecture market can be segregated into BFSI, manufacturing, retail and e-commerce, IT and telecom, healthcare, government, and others. Among these, BFSI accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global microservices architecture market include Broadcom Inc., Cognizant, F5 Inc., Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Salesforce Inc., Software AG, and Tata Consultancy Services Limited.
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