The worldwide platform architecture market size is assessed to be esteemed at US$ 5,127.0 Million out of 2022 and is supposed to arrive at US$ 19,235.0 Million by 2032, with a CAGR of 14.1% from 2022 to 2032.
Platform architecture are adopted by several enterprises in order to analyze system performance on a single screen. Platform architecture is a standard graphical environment which is used for capturing, simulating, and analyzing data.
Platform architecture permits system designers to optimize and explore hardware-software partitioning and infrastructure configuration to achieve precise system performance and it is cost effective.
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Platform architecture helps architects to build task driven work-load models for early architect analysis.
Enterprises are implementing platform architecture which help them to respond quickly to the changing market conditions and it also improves operational efficiency.
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.
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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What is the Competition Landscape in the Platform Architecture Market?
Some of the leading companies operating in the global platform architecture market include SAP SE, Cisco, Google, Synopsys Inc., Microsoft Corp., Oracle, IBM Corp., Apprenda Inc., RNF technologies.
This is increasing competition in the platform architecture market as new entrants backed by venture capital firms enter the market with innovative designs and advanced solutions. Major players are focusing on strategic acquisitions to acquire significant platform architecture market shares.
Recent Developments in the Platform Architecture Market:
- By partnering with Bergmann, a design and architecture service provider, Colliers, a professional services and investment management company, aimed to grow its geographic footprint. Architects frequently face obstacles in communicating their ideas and delivering complex designs.
- In January 2021, Gensler announced its partnership with Forge Development Partners, as part of which Gensler became Forge Development Partners’ chief architect and interior designer. This helped Gensler enhance its business by catering to Forge Development Partners.
- IBI Group, a global architectural services provider, announced in December 2021 it purchased Teranis Consulting Ltd., an environmental consulting firm. The acquisition will help IBI Group enhance its sustainability and environmental management services.
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Platform Architecture Market: Segmentation
Segmentation on the basis of deployment type:
- Cloud based
- On-premise
Segmentation on the basis of services type:
- Software-as-a-service (saas)
- Platform-as-a-service (paas)
Segmentation on the basis of verticals:
- IT and Telecom
- Government
- BFSI
- Retail
- Manufacturing
- Others
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