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Soaring Demand Set to Propel Microservices Architecture Market to $15.97 Billion by 2029
Microservices Architecture
What Will the Microservices Architecture Industry Market Size Be by 2025?
In the past few years, the microservices architecture market has seen a significant increase in size. It is projected to expand from $6.27 billion in 2024 to $7.45 billion in 2025, representing a compound annual growth rate (CAGR) of 18.8%. The historical period's growth can be traced back to the emergence of cloud computing, the shift towards digital transformation, the cultural shift towards DevOps practices, the increasing demand for scalability, and escalating data security concerns.
What's the Long-Term Growth Forecast for the Microservices Architecture Market Size Through 2029?
The market size of microservices architecture is projected to undergo substantial growth in the coming years. The market is predicted to reach $15.97 billion by 2029, with a compound annual growth rate (CAGR) of 21.0%. The anticipated growth during the forecast period can be associated with the increasing adoption of serverless architecture, the integration of IoT (Internet of Things), heightened security protocols, focus on sustainability, and the implementation of microservices architecture. Other predominant trends during this forecast period would be the development of AI-driven DevOps, the event-driven architecture, continuous integration, the shift towards micro frontends, and improved management of hybrid cloud.
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What Are the Key Growth Drivers Fueling the Microservices Architecture Market Expansion?
The microservices architecture market is set to be fueled by the surge in connected devices. These devices, which are physical entities wirelessly linked to a network (internet) and capable of sending and receiving data, include smartphones, laptops, smart vehicles, among others. In these connected devices, microservices architecture-based solutions assist in the development of various software that facilitates flawless interaction amongst diverse devices, protocols, and applications, thereby enhancing the capacity of devices to transfer data between different computing surroundings. Microservices architecture also offers continuous upgrades, integration, and upkeep of IoT applications in these devices. For instance, Uswitch, a UK-based price comparison site, noted in November 2023, that 92% of UK mobile users were smartphone users. Moreover, The Office of Communications, a UK government sanctioned communications regulator, stated in March 2022, that 21% of UK internet users were using smartphones. Ergo, the microservices architecture market's growth is being driven by the rapid expansion of connected devices.
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What Are the Key Trends Driving Microservices Architecture Market Growth?
Leading businesses in the microservices architecture market are concentrating on introducing new products grounded in microservices architecture to attain ultra-low latency, which will boost system performance, augment response rates, and uphold high-frequency trading environments, ensuring an improved user experience and preservation of their competitive edge. The term ultra-low latency relates to the minimum delay experienced in data transmission and processing, generally recorded in microseconds or nanoseconds. For example, Vermiculus, a renowned US manufacturer of superior materials, initiated VeriTrade in September 2024, a product grounded in microservices architecture. VeriTrade assures a steady and predictable order matching process, an essential element in an industry where time is of utmost importance. This deterministic method increases the dependability of trade executions.
How Is the Microservices Architecture Market Segmented?
The microservices architecture market covered in this report is segmented -
1) By Component: Solution, Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By Deployment Type: On-Premise, Cloud
4) By End-Use Industry: Banking, Financial Services And Insurance, Government, Manufacturing, IT And Telecom, Retail, Healthcare, Energy And Utilities, Media, Other End-User Industries
Subsegments:
1) By Solution: Microservices Development Tools, API Management Solutions, Containerization Platforms, Service Mesh Solutions
2) By Services: Consulting Services, Implementation Services, Integration Services, Support and Maintenance Services
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Which Companies Are Leading the Charge in Microservices Architecture Market Innovation?
Major companies operating in the microservices architecture market include Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Tata Consultancy Services Limited, Salesforce Inc., Google Cloud Platform, Cognizant Technology Solutions India Pvt Ltd., VMware Inc., Twilio Inc., Citrix Systems Inc., F5 Inc., Splunk Inc., Micro Focus International plc, TIBCO Software Inc., Red Hat Inc., Software AG, Dynatrace Inc., New Relic Inc., Suse Linux AG, HashiCorp Inc., WSO2 Inc., Docker Inc., D2iQ Inc., Lightbend Inc., Datawire Inc., Kubernetes
Which Regions Are Leading the Global Microservices Architecture Market in Revenue?
North America was the largest region in the microservices architecture market in 2024. The regions covered in the microservices architecture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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