(PharmaNewsWire.Com, June 16, 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.
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.
On the basis of end user, the microservices in healthcare market is segmented into healthcare payers, healthcare providers, life science organizations, and clinical laboratories. The healthcare providers segment is expected to account for the largest share of the overall market in 2018. Government initiatives that help providers gain incentives on the adoption of EHRs and the implementation of integration and connectivity solutions are driving the adoption of microservices architecture solutions among healthcare providers.
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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