According to the new market research 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” published by MarketsandMarkets™, is projected to reach USD 343.3 million, at a CAGR of 21.3%
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 market.
Major Market Growth Drivers:
- Benefits of the Microservice Architecture
- Ability to Support and Enhance Customer-Oriented Business
- Cloud-Based Applications
- Microservice Architecture for Building Real-World Evidence Applications
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The platform segment is expected to dominate the 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 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.
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 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.
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North America is estimated to command the largest share of the market. The large share of North America in the global 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. 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).