Microservices in Healthcare Market Size, Share, Trends, Key Opinion Leaders | Market Performance and Forecast by 2032
Market Overview:
The microservices in healthcare market is anticipated to reach USD 0.32 Billion by 2032 at 21% CAGR during the forecast period 2023-2032.
Microservices or microservice architecture is a method of developing advanced software systems that focus on building single function modules with well-defined operations and interfaces. Microservices provide agility and are designed to align well with changing service deployment processes in the healthcare sector from traditional practices to automation of services. Market Research Future (MRFR) has recently published a report stating that the global microservices in the healthcare market are marked to expand remarkably in the forthcoming years.
Market drivers and Restraints:
Healthcare service providers are inclining towards micronizing the healthcare environment by transferring one large application into multiple smaller applications that provide flexible and independently deployable software systems. Increasing demand for automation in the healthcare sector to speed up service deployment is majorly propelling the growth of the global microservices in healthcare market. The ecosystem of microservices includes service optimization through code management, API management, inter-service communications management, database and data management and others which enhances the speed of delivery of services by accelerating innovation capabilities.
Multiple benefits of microservices that aid in reducing the complexity of process and necessity of enhanced functionality of healthcare services are leading to the significant expansion of the global microservices in healthcare market. Rapid adoption of advanced technology and increasing reliance on cloud-based services for process management are some other factors that are propelling the growth of the global microservices in healthcare market. However, reluctance of service providers to shift from traditional monolithic architecture to microservice architecture, concerns regarding data security, challenges faced by the organizations for implementing microservices and complexity of microservice architecture are likely to restrain the growth of the global microservices in healthcare market during the forecast period.
Market segmentation:
The global microservices in healthcare market has been segmented on the basis of component, deployment model, and end users. Based on component, the microservices in healthcare market has been segmented into platform and services. The services segment has been sub-segmented into integration services, consulting services, and training, support and maintenance services. Based on deployment model, the microservices in healthcare market has been segmented into on-premise models and cloud-based models. The cloud-based model segment has been sub-segmented into public cloud, private cloud and hybrid cloud. Based on end user, the microservices in healthcare market has been segmented into healthcare payers, healthcare providers, clinical laboratories and life science organizations.
Regional Analysis:
Geographically, the global microservices in healthcare market has been segmented into four major regions such as North America, Asia Pacific, Europe, and the rest of the world. The microservices in healthcare market in the North America region is anticipated to expand significantly during the forecast period owing to the increasing inclination towards automation of services in various industrial sectors and easy adoption of technologically advanced solutions to upgrade the healthcare services in this region. Increasing investment for incorporation of advanced technology and reliance on cloud-based solutions in the healthcare sector are fueling the growth of microservices in healthcare market in the Europe region. The microservices in healthcare market in the Asia Pacific region is expanding at a noteworthy pace owing to the high demand for advanced solutions for managing large number of services and increasing awareness regarding the benefits of these services for business development in this region.
Key Players:
Some of the global microservices in healthcare market players are Amazon Web Services, Inc., (the U.S.), CA Technologies (the U.S.), Microsoft (the U.S.), Salesforce.com, Inc., (the U.S.), Pivotal Software, Inc. (the U.S.), Infosys (India), IBM (the U.S.), NGINX Inc. (the U.S.), Oracle Corporation (the U.S.), and Syntel (the U.S.).
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