Microservices Architecture Market at a CAGR 18.6% | Latest Industry Trends, Trades, Supply, Demand, Prospects by 2026

Increase in digital transformations, proliferation of connected devices, and rise in adoption of cloud-based solutions augment the growth of the global microservices architecture market.

However, security and several compliance issues restrain the growth to some extent. Moreover, rise in implementation of virtualized infrastructure is expected to usher multiple opportunities for the stakeholder in the industry.

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According to the report published by Allied Market Research, the global microservices architecture market was estimated at $2.07 billion in 2018 and is expected to garner $8.07 billion by 2026, manifesting a CAGR of 18.6% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Covid-19 Scenarios-

• During covid-19 outbreak, the adoption of cloud-based solutions and digital transformation has increased widely. This, in turn, augmented the demand for microservices architecture.

• In addition, the trend of virtual infrastructure during to covid-19 pandemic has elevated greatly, thereby driving the demand for microservices architecture

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Based on deployment mode, the on-premise segment accounted for around three-fifths of the global microservices architecture market revenue in 2018, and is expected to lead the trail by 2026. The fact that organizations in regulated industries rely on on-premise model to a significant extent has propelled the segment growth.

At the same time, the cloud segment would manifest the fastest CAGR of 21.2% through 2026. Adoption of hybrid cloud across various end-user industries has driven the growth of the segment.

Based on component, the solution segment held the largest share in 2018, garnering nearly two-thirds of the global microservices architecture market in 2018, and is expected to retain its dominance throughout the forecast period.

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This is attributed to the widespread adoption of microservices architecture among enterprises. The services segment, on the other hand, would portray the fastest CAGR of 20.1% during 2019-2026. Increase in adoption of these platforms and software has driven the growth of the segment.

Based on region, North America contributed to more than half of the global microservices architecture market share in 2018, and is projected to maintain its top status till 2026, owing to the presence of developed economies such as the U.S. and Canada.

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Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 23.4% from 2019 to 2026. This is due to increase in adoption of microservices architecture in telecom applications, development of data centers, and surge in penetration rate of connected devices in this province.

The frontrunners in the global microservices architecture include IBM Corporation, Microsoft Corporation, Oracle, Tata Consultancy Services Limited, Salesforce.com., Datawire, MuleSoft Inc., Software AG, CA Technologies, and Syntel.

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