The global microservices in healthcare market 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%
LONDON, Oct. 16, 2018 /PRNewswire/ -- The global microservices in healthcare market is projected to witness a CAGR of 21.3% during the forecast period.
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The global microservices in healthcare market 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 during the forecast period.
The services segment is expected to register a higher CAGR during the forecast period.
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.
Considering the dynamic nature of this market segment, currently, several vendors are innovating and offering various services in an effort to expand their customer base across the globe. The services segment is expected to grow at a rapid pace with the increasing deployment of microservices across the healthcare industry, globally
The cloud models segment is expected to register a higher CAGR during the forecast period.
On the basis of delivery model, the microservices in healthcare market is segmented into on-premise model and cloud-based model.In 2018, the cloud-based models segment is expected 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. In addition, storage flexibility and ease of use are some of the other advantages associated with cloud-based healthcare microservices solutions.
North America to witness high growth during the forecast period.
The market in North America is expected to register the highest growth rate during the forecast period. The high growth rate of the microservices in healthcare market in North America is attributed to the growing focus on improving the overall efficiency of healthcare organizations and greater product and service availability in the region.
Breakdown of Primary Participants:
• By Company Type: Tier 1 – 44%; Tier 2 - 36%; Tier 3 - 20%.
• By Designation: C-level- 22%; D-level- 28%; others--50%.
• By Region: North America-48%; Europe-21%; Asia -26%; RoW-5%.
List of companies profiled in the report
• AWS (US)
• CA Technologies (US)
• Microsoft (US)
• Salesforce (US)
• Pivotal Software, Inc. (US)
• Infosys (India)
• IBM (US)
• NGINX Inc. (US)
• Oracle (US)
• Syntel (US).
Research Coverage:
The report provides an overview of the microservices in healthcare market.It aims at estimating the market size and growth potential of this market across different segments such as deployment model, component, end user, and region.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the microservices in healthcare market by providing them with the closest approximations of revenues for the overall market and its subsegments.This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies adopt suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.
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