(PharmaNewsWire.Com, May 09, 2020 ) [114 Pages Report] The global microservices in healthcare market is projected to reach USD 343.3 million by 2023 from the estimated USD 103.1 million in 2017, at a CAGR of 21.3%.
The benefits of microservice architecture, such as their ability to increase overall efficiency and project delivery speed, are the primary factor driving the market growth. However, concerns regarding security and regulatory compliance and the complexity of architecture are expected to hinder the growth of this market.
Research Methodology:
The study estimates the microservices in healthcare market size for 2018 and projects its demand till 2023. In the primary research process, various sources from both demand and supply sides were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the supply side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various players in the microservices in healthcare market.
For the market estimation process, both the top-down and bottom-up approaches were used to estimate and validate the market size of the microservices in healthcare market as well as to estimate the market size of various other dependent submarkets.
Based on component, the microservices in healthcare market is segmented into platforms and services. The services segment is further segmented into consulting services, integration services, and training, support, and maintenance services. The platforms segment is expected to account for the larger share of the microservices in healthcare market in 2018. This dominance is attributed to the increasing need for cloud microservice architecture for scaling functions at a very granular level for efficient system optimization and organization. Cloud platform microservice architecture also brings a new level of scalability to enterprise applications.
Based on deployment model, the microservices in healthcare market is segmented into on-premise and cloud-based models. The cloud-based model segment is expected to account for the larger share of the microservices in healthcare market in 2018.
Cloud-based microservices are sold on the basis of subscriptions ranging from one month to multiple years. They do not require any significant setup charges, owing to which, a growing number of healthcare organizations, payers, providers, and laboratories are opting for cloud-based solutions. Maintenance and support service charges are also included in subscription fees, which makes these delivery modes more affordable for customers. In addition, storage flexibility and ease of use are some of the other advantages associated with cloud-based healthcare microservices solutions.
Geographically, the microservices in healthcare market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the market in 2018. The large share of North America in the global microservices in healthcare market can be attributed to the growing focus on improving the overall efficiency of healthcare organizations and greater product and service availability in the region.
The microservices in healthcare market is marked by the presence of several big and small players. Some of the prominent players in the market include AWS (US), CA Technologies (US), Microsoft (US), Salesforce (US), Pivotal Software, Inc. (US), Infosys (India), IBM (US), NGINX Inc. (US), Oracle (US), and Syntel (US).
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