Microservices Architecture Market – What’s Awaiting Us
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Microservices Architecture Market – What’s Awaiting Us
If you are a newbie, you should know that the microservices architecture market is segmented on the basis of component, deployment type, size of the organization, industry vertical, and region. According to the type of deployment, the market is shared between cloud and on-premise. According to the components, the division is between solutions and services. The classification on organization size would divide the market into small, medium, and large-scale enterprises. The different industry verticals in which microservices are used can be divided into BFSI, retail and & ecommerce, manufacturing, IT and & telecom, government, healthcare, and others.
Microservices Architecture – What It Is
In the microservices architecture, a large application is fragmented into smaller independent applications that are manageable and do a specific business function well. The communication among the services is via APIs. Every service uses a well-defined and simple interface to interconnect with the other services.
Enterprises that have migrated to microservices have smaller independent teams managing each of the services. This type of architecture ultimately results in superior and scalable systems, improved productivity, and shorter development cycles when compared to a monolithic application. The benefits include consumer transparency and technology agility.
Microservices Architecture market – predicted growth
Valued at 2.07 billion USD in 2018, the microservices architecture market is projected to reach 8.07 billion USD in another 5 years, registering a CAGR of 18.6% (2019-2026). Let us examine how the different segments contribute to this growth.
Microservices Architecture market-Component Share
With regard to components, the major share has been garnered by the solutions segment. This trend is expected to continue during the period. This growth is because of large-scale adoption of microservices by enterprises. With more focus on streamlining application development processes, owing to digital transformation and the advent of newer technologies, enterprises are adopting microservices solutions to improve agility and less time to market.
Read about how microservices at eBay look like in these times in our blog titled "Microservices at eBay-What it looks like today".
Microservices Architecture market –Deployment mode
The cloud segment is predicted to overtake the on-premise segment market during the forecast period. This can be attributed to the rising preference of users tilting towards hybrid cloud deployments, with both public and private clouds being involved in the orchestration. The benefits of deploying to the cloud are better performance, reduced risk, more control, and higher cost efficiency.
Microservices Architecture market – Regionwise Distribution
With North America dominating the global market in 2018, this trend is expected to hold on during the forecast period, as this region is the most advanced in terms of adopting the latest technologies. Further, the region dominates the market, mainly due to the presence of developed economies including the U.S. and Canada. They are also very focused on innovative technologies. During the forecast period, the Asia-Pacific region is expected to grow at the highest CAGR, because of an increase in the adoption of microservices architecture among a large number of organizations to achieve enhanced business agility, improve operational efficiency, and reduce costs.
Microservices Trends for 2021
If your organization is planning to transition into microservices, the decision has to be made at the correct juncture and also be supported by valid reasons. Large businesses should understand that initial costs are high, modular changes have to be brought about, they need complete collaboration from the stakeholders and partners, and the IT teams have to be bigger and better.
The reason microservices are a rage is because of the benefits they bring about: easy scalability, improved productivity, and faster product development. Furthermore, microservices offer improved fault tolerance, easier testing of the services, faster delivery, less development time, less downtime, and faster release of upgrades.
The top trends for microservices in 2021 include the following:
Kubernetes is an open-source platform or a CaaS platform for managing containerized services, including automation of application deployment and their scaling and management. You pay only for the resources that are used. Kubernetes helps to:
- Predict the need for computing resources
- Enforce restrictions on resources,
- And partition the infrastructure appropriately for the different microservices
This type of architecture is becoming popular because it doesn’t employ testing, deployment and managing of data because all of it is done by the cloud service provider. You only need to pay for a specific service when a request is generated. This is a function-as-a-service (FAAS) model. This architecture allows focus on the core business without having to manage technology, which is why it is popular.
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This is a tool to add observability, security, and reliability features to applications at the platform level in place of the application level. The service network is a collection of network proxies (implemented with application code) that handles the communication between microservices.
It’s a security protocol that can be applied to microservices where it introduces a proxy at different layers and makes the complex authorization and authentication process easier for microservices. When proxy tokens are introduced, they intercept between layers and offload all functionalities and provide security.
AIOps expands to Artificial Intelligence Operations and uses ML and AI to develop automation tools for IT Ops teams. This can range from solving complex system failure issues to identification of security breaches and their correction by utilizing associated data and patterns. It is becoming essential for today’s large and complex systems.
This concept revolves around making UI tools that enable creating applications by using drag-and-drop. These low-code APIs consist of application frameworks/platforms that you can use to build complete applications quickly (and just visually) with low code. This makes the app development process easy for novices and even analysts. The benefits of using low-code APIs are ease of visual modeling, drag-and-drop interface, scalability, and security. Thus, these assure quicker development, agility, and decreased costs, and are time-saving and ensure faster upgrades.
Microservices Architecture-Future Scope
Software development in the future will mainly concern the speed of continuous integration. The two main architecture systems used in building software are monolithic and microservices architectures.
We are living in times when software production is constantly primed to perform at its best. Coupled with intelligence and efficiency, the future of software development is very bright and is predicted to grow in the coming years. What does not matter is the number of lines, but the rate at which software upgrades and updates are released into the market.
Many believe that microservices are nothing but hype. However, there is no denying the fact that famous corporations such as Netflix and Amazon that have turned to microservices are market leaders in innovation and high performance.
In a survey run by O'Reilly (of 1502 respondents) from January 31, 2020 through February 29 last year (2020), one of their key findings was that a third of the respondents said that the organizations/employers were shifting over 50% of their systems to microservices. In this context, the microservices architecture’s future scope looks bright indeed.
For the long-term sustainability and success of microservices, it is important to understand the challenges that will come before migrating towards the new architecture. These challenges and the microservices architecture market are likely to change with time and changing technologies, but choosing the right cloud provider, security systems, and architecture suited for the business is where success lies.
How Can SayOne Help
At SayOne, our integrated teams of developers service our clients with microservices that are fully aligned to the future of the business or organization. The microservices we design and implement are formulated around the propositions of Agile and DevOps methodologies. Our system model focuses on individual components that are resilient, fortified, and highly reliable.
Download our eBook for FREE “Global Software Development Rates: An Overview”.
We design microservices for our clients in a manner that assures future success in terms of scalability and adaptation to the latest technologies. They are also constructed to accept fresh components easily and smoothly, allowing for effective function upgrades in a cost-effective manner.
Our microservices are constructed with reusable components that offer increased flexibility and offer superior productivity for the organization/business. We work with start-ups, SMBs, and enterprises and help them to visualize the entire microservices journey and also allow for the effective coexistence of legacy systems of the organization.
Our microservices are developed for agility, efficient performance and maintenance, enhanced performance, scalability, and security.
Are you looking to outsource microservices development? Call us today!
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