Press release
Composable Applications Market Size Projected To Reach $17.13 Billion By 2034 With A Cagr Of 20.6%
Composable Applications
What Is the Projected Growth of the Composable Applications Market?
The composable applications market has experienced significant growth in recent years. It will grow from $6.69 billion in 2024 to $8.09 billion in 2025, with a CAGR of 20.9%. The growth drivers include digital transformation initiatives, the rise of microservices, demand for customization, a focus on user experience, and innovation in development tools.
The composable applications market is forecast to reach $17.13 billion by 2029, growing at a CAGR of 20.6%. Factors contributing to this growth include the rise of cloud-native technologies, the expansion of edge computing, demand for omnichannel solutions, heightened security and compliance requirements, and the growth of low-code platforms. Major trends include the adoption of composable infrastructure, the growth of hybrid and multi-cloud environments, automated application composition, and integration with emerging technologies.
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What Are the Different Composable Applications Market Segments?
The composable applications market covered in this report is segmented -
1) By Offering: Platform, Service
2) By Enterprise Size: Large Enterprises, Medium Enterprises, Small Enterprises
3) By Vertical: Banking Financial Services And Insurance (BFSI), Retail And E-commerce, Government, Healthcare And life sciences, Manufacturing, Information Technology (IT) And Information Technology Enabled Services(ITeS), Energy And Utilities, Other Verticals
Subsegments:
1) By Platform: Composable Application Platforms, Modular Architecture Platforms, Low-Code Or No-Code Platforms
2) By Service: Implementation Services, Integration Services, Consulting Services, Support And Maintenance Services
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What Are the Primary Drivers Shaping the Composable Applications Market?
The growth of digital transformation initiatives is expected to boost the composable applications market. These initiatives focus on enhancing business processes, customer experiences, and models through technology. The need to improve operational efficiency, keep up with technological advancements, and meet changing customer expectations drives these transformations. Digital transformation facilitates the use of composable applications by supporting adaptable and modular architectures. A report by the European Investment Bank in May 2023 showed that 42% of European firms increased their digitalization investment in 2022, a 9% rise from 2021, while 50% of U.S. firms did the same. Thus, digital transformation initiatives are contributing to the composable applications market growth.
Which Companies Are Leading in the Composable Applications Market?
Major companies operating in the composable applications market are Amazon.com Inc., Microsoft Corporation Inc., Dell Technologies Inc., International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., VMware Inc., Elastic NV, OutSystems, Appian Corporation, TIBCO Software Inc., Mendix Technology B.V., Workato Inc., Sage IT Inc., Kong Inc., SnapLogic Inc., and Amzur Technologies Inc.
What Trends Are Expected to Dominate the Composable Applications Market in the Next 5 Years?
Companies in the composable applications market are concentrating on creating innovative digital commerce solutions to strengthen their market position. Digital commerce solutions facilitate online business transactions, product catalog management, payment processing, and customer experience delivery. For example, in August 2022, Salesforce Inc., a US-based software company, introduced the Composable Storefront, a modular, headless commerce solution. This allows businesses to easily customize and quickly launch digital storefronts using pre-built API-driven components, integrating seamlessly with Salesforce's broader ecosystem for personalized customer experiences and scalable growth.
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What Are the Top Revenue-Generating Geographies in the Composable Applications Market?
North America was the largest region in the composable applications market in 2024. The regions covered in composable applications report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Composable Applications Market?
2. What is the CAGR expected in the Composable Applications Market?
3. What Are the Key Innovations Transforming the Composable Applications Industry?
4. Which Region Is Leading the Composable Applications Market?
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