(PharmaNewsWire.Com, March 27, 2021 ) The study estimates the Microservices in Healthcare Market 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 healthcare market.
According MarketsandMarkets™ Research – The report “Microservices in Healthcare Market by Component (Platform, Services (Consulting, Integration, Training, Support, Maintenance)), Delivery (Cloud, Hybrid, Private, On-premise), End User (Health care Provider, Payer, Life Science) – Global Forecast to 2023″, is projected to reach USD 343.3 million by 2023 from the estimated USD 130.7 million in 2018, 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 factors 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.
The platform segment is expected to dominate the microservices in healthcare market in 2018.
Based on component, 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 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.
The cloud-based model segment is projected to witness higher CAGR during the forecast period.
Based on deployment model, 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 and is also estimated to register a higher CAGR during the forecast period. 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.
North America is estimated to command the largest share of the market. 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.
Global Key Leaders:
The microservices in healthcare market is marked by the presence of several big and small players. Prominent players in this market include AWS (US), CA Technologies (US), Microsoft (US), Salesforce (US), Pivotal Software (US), Infosys (India), IBM (US), NGINX (US), Oracle Corporation (US), and Syntel (US).
AWS is one of the leading providers of cloud computing technologies. Since its inception in 2006, the company has focused on delivering the most advanced technology solutions and services to its customers. It provides highly reliable infrastructure with low variable costs that scale with end users’ business requirements. AWS has been strategically focusing on expanding its market reach by using various organic and inorganic strategies.
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