The platform architecture market is the industry that focuses on the creation and deployment of software platforms or frameworks that serve as the foundation for developing and executing diverse applications. These platforms often provide a set of tools, services, and APIs (Application Programming Interfaces) for developers to use in order to construct and customize apps.
The global platform architecture market is expected to grow at a 14.1% CAGR from 2022 to 2032, from US$ 5,127 Million in 2022 to US$ 19,235 Million in 2032. Because of the increased demand to stop managing servers and construct apps fast, platform architecture will most likely be employed.
However, many third-party API hurdles, such as compliance, lock-in issues, vendor dependence, and security concerns, are expected to considerably limit market growth. On the other side, the expansion of cloud technology adoption and the creation of serverless computing in the developing IoT landscape. This is expected to result in market opportunities.
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Platform Architecture Market: Drivers and Challenges
Cloud and internet of things (IoT) platform architectures are the major factors driving the platform architecture market. Internet of things platform architecture helps to set a base for building, managing and for securing fundamentals in the IoT. Moreover, Enterprises are implementing cloud platform architecture to provide both a runtime environment and development to cloud application through its various services such as platform as a service (PaaS).
Cloud platform architecture offers several solutions such as on-demand extension and on-premise extension. Hadoop architecture platform is one of the emerging and another factor driving the platform architecture market in positive manner.
Developing a scalable architecture for an application is one of the major challenge faced by the platform architecture market.
MARKET PLAYERS IN THE PLATFORM ARCHITECTURE MARKET:
- Jacobs Engineering Group
- Nikken Sekkei Ltd.
- Perkins Eastman
- Oracle Corporation
- IBM Corp.
- Apprenda Inc.
- RNF Technologies
- Google Inc.
- DP Architects Pvt. Ltd.
- Foster + Partners
Platform Architecture Market: Regional Overview
Presently, North America region is holding the largest market share of platform architecture market owing to rapid implementation of Hadoop platforms architectures by most of the enterprises. In Europe and APAC region, the market of platform architecture is growing in positive manner owing to adoption of cloud based platforms by small and large enterprises.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Key Segments Profiled in the Platform Architecture Market Survey
By Deployment Type:
- Cloud-based
- On-premise
By Services Type:
- Software-as-a-service (SaaS)
- Platform-as-a-service (PaaS)
By Verticals:
- IT & Telecom
- Government
- BFSI
- Retail
- Manufacturing
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa(MEA)
- Europe
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