Microservices Architecture Market 2018: Historical Analysis, Competitive Landscape, Latest Innovations and Trends by Forecast to 2023

Microservices Architecture Market
Microservices Architecture Market, By Deployment (Cloud, On-Premise), By Service (Inventory Microservice, Accounting Microservice), By Vertical (Energy & Utilities, IT & Telecommunication, BFSI) – Forecast 2023

Microservices Architecture Market – Overview

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. Growing market penetration of connected device like smartphones, tablets, wearable, drones, fitness tracker & smart home appliances is driving the microservices architecture market.

 

The key trends that are majorly affecting the market include loose coupling, deployment and domain driven design. As microservices operate on simple and smaller services, there is an increase demand for cloud solution and is one of the important factors driving the market. The Global Microservices Architecture Market is growing with the rapid pace mainly due to the wide range of advantages it offers and the burgeoning advent technology.

 

Acknowledging the accruals the market is perceiving currently and the potential of, the market to grow further in the years to come, Market Research Future, recently published a study report. In which MRFR foretells that the global Microservices Architecture Market will upsurge up to USD ~33 Billion by 2023, registering a whooping double digit CAGR of 17% during the anticipated period (2017 – 2023). 

 

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The adoption of cloud based microservices architecture is driving the market. Cloud based microservices architecture provides scalability, cost efficiency and 24×7 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.

 

While there are some restraints in the microservices architecture which may hamper the market that includes communication failure, network inactivity and failure of single service. This is mainly due to, that in microservices architecture, to communicate with other services, REST API (Representational State Transfer Application Program Interface) is used which gives rise to additional HTTP call overhead.

 

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.

 

Cloud application of microservices enables a significant number of specified module able to be shared across application through a company’s network. Most of the users assume microservices as an evolution of service oriented architecture (SOA). On-premise installation of microservices architecture enable users to easily deploy PHP, python and java application on their machine.

 

The important trends of microservices architecture includes deployment, loose coupling and design driven domain. By deployment, the microservices technology enable users in such a way, that by deploying an additional feature, it allows them to deploy that particular corresponding service instead of entire application. Microservcies architecture have a strong impact on market in terms of its approach towards building, evolving, scaling and deploying individual service in the operational cycle.

 

Worldwide Microservices Architecture Market – Competitive Landscape

The market appears to be highly competitive characterized by the presence of well-established players. These players incorporate collaboration, acquisition, expansion, partnership, and product launch.  By acquiring promising companies in the fast-growing markets; Vendors expand their presence & are increasingly focusing on improving their market performance.

 

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.), and Salesforce.Com, Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Microservices Architecture Market.

 

Industry News:

February 13, 2018 – Accenture, a techno giant announced that it has joined AT&T‘s multi-year Microservices Supplier Program. The partnership is expected to help the company to migrate legacy operations to models using DevOps and microservices. As per the deal, with consulting expertise of Accenture, the duo companies will work towards the development of microservices that business will use to get AT&T products and services including security and fiber services.

 

January 30, 2018 – Cisco Systems Inc. (US) announced that company’s video product include a considerable 20 microservices helpful in saving a whole of resources of users.

Microservices Architecture Market – Segments

By Vertical: Comprises IT & Telecommunication, Energy & Utilities, BFSI, Government, Healthcare, Manufacturing, Media& Entertainment, Retail, among other.

By Deployment:  On Cloud & On-Premise.

By Service: Inventory Microservice, Shipping Microservice, and Accounting Microservice among other.

By Regions:  Europe, North America, APAC and Rest of the World.

 

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Microservices Architecture Market – Geographical Analysis

North America region accounts for higher market share. Well established players operating in the market drive the regional market.

 

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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