The global platform architecture market is forecasted to be appraised at USD 19,235 Million by 2032, up from USD 5,127 Million in 2022, advancing at a CAGR of 14.1% during the forecast period.
There has been a growth in the need to eliminate the management of servers and rapid app development, which is likely to effectuate the adoption of platform architecture. However, certain issues associated with third-party APIs, such as compliance, lock-in problems, vendor dependency, and security concerns, are expected to be major hindrances to market growth.
On the contrary, the emergence of serverless computing in the growing IoT landscape and the continuous increase in the deployment of cloud technologies. This is anticipated to generate market opportunities.
Key providers have built a platform with flexibility and choice in mind, which aids their end users in connecting people and plans to take their enterprise planning to the next level. Built on a unified platform, this serverless architecture brings together data and analytics, application development, artificial intelligence (AI), automation, and integration in one unified environment.
These key providers further offer personalized experiences for applications such as enriching user interaction with automation and artificial intelligence and accessing real-time, complete views of all the data.
End users can also innovate strategies faster in business contexts by working faster with no-code and code-first development tools and jump-starting projects with prebuilt industry content and use cases.
This is likely to drive the demand for platform architecture. Moreover, key providers are helping end users run their businesses on a trusted, enterprise-grade platform by customizing these business processes without the need for maintenance, along with using their preferred cloud while interoperating with the existing IT landscape.
Most key players proudly claim that their platform architecture has strong integration and extension capabilities.
Moreover, these platforms offer high port density, high-performance forwarding, low jitter, and low power consumption at a very cost-effective price point. In addition, most of these platforms offer an industry-leading density of routed 1/10/40/100/400G ports for high-scale WAN aggregation, core, and peering roles.
They are designed to efficiently scale in support of data centers, large enterprises, and web & service providers’ WAN and aggregation networks, securing the adoption of platform architecture.
Cloud architecture provided by these key players simplifies the inclusion of additional solutions to address a wider range of urban service domains. The platform supports services across domains by allowing data to trigger alerts or actions in other domains based on the criteria established by and for the end user’s community.
Regardless of individual protocols, this functionality draws from the ability to combine data from many devices and communicate it securely while also tapping into geospatial mapping for many important uses across the end user’s community.
Most cloud architecture framework offered by key companies provide recommendations and describes best practices to help architects, developers, administrators, and other cloud practitioners design and operate a cloud topology that’s secure, efficient, resilient, high-performing, and cost-effective.
A cross-functional team of experts at these key companies validates the design recommendations and best practices that make up the architecture framework. The team curates the architecture framework to reflect the expanding capabilities of the cloud, industry best practices, community knowledge, and feedback from the end users.
For instance, Google Cloud Platform (GCP) is Google’s public cloud offering, which is comparable to web services by top corporations.
It claims that while GCP has many ways to run applications such as App Engine, Container Engine, or Cloud Functions, Hosted Virtual Machines (VM) are still the easiest transition to the cloud for architects and developers that are used to having complete control over their operating system, as it is the first thing people think of when moving to the cloud.
These factors are anticipated to raise the demand for the service and expand the global platform architecture market size.
| Attributes | Details |
|---|---|
| Platform Architecture Market Size (2022) | USD 5,127 Million |
| Platform Architecture Market Size (2032) | USD 19,235 Million |
| Platform Architecture Market CAGR | 14.1% |
Architect unions and guilds are increasingly becoming popular across regional patches. Most of these guilds focus on protesting the demolition of structures that hold historic and cultural relevance and reviving ancient architecture.
Environment planners and architects who vouch for green energy planning are included as a part of these guilds. The services and contributions of these architects are ought to create innovations in the platform architecture market trends.
The adoption of 3D printing for architecture is a growing application of additive manufacturing. This particular technology is rapidly spreading, and its costs are decreasing.
This is because 3D printing brings the most direct way from on-screen visualization to touch and feel representation. Hence, its adoption is estimated to significantly support global market growth.
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The primary focus of major players is on enhancing their businesses and customer base through strategic partnerships. In addition, businesses opt for architectural services such as schematic designs, interior design, and space planning that help them attract more customers and enhance their stay experience. These factors are expected to drive the demand for platform architecture.
The need for green planning and architecture has gathered momentum, with a growing focus on energy-optimization technologies. Architects are making extensive efforts to come up with distinct designs that fit the needs of the industrial sector owing to the energy-intensive nature of the industrial sector which necessitates the recipient of distinct designs. This is estimated to contribute to global market growth.
In the healthcare sector, through the establishment of new facilities and the reorganization of existing spaces, hospitals are focused on improving patient care.
Hence, services such as construction and project management, and interior design are expected to witness significant demand, as it helps optimize space to seamlessly treat patients, improve patient outcomes, and increase patient satisfaction. Therefore, here the adoption of platform architecture is likely to be profitable.
Lack of skilled labor, resources and adequate knowledge regarding the operation and design of platform architecture is expected to be a major obstruction to market growth. Additionally, trying to develop a scalable architecture for an application can be a challenge for most providers.
Conversely, architects are able to save time and money while delivering high precision in design through the deployment of VR technology in architectural designs. Moreover, construction companies are now looking at firms that can manage and analyze the project life cycle along with providing design and advisory services. These new developments are anticipated to provide the scope of creativity for key providers.
With a revenue of 28.3%, North America is the largest platform architecture market. The high demand for cloud and the Internet of Things (IoT) increases the importance of platform architecture in this region. Moreover, the adoption of platform architecture facilitates IoT fundamentals to be managed, built, and secured.
Hence, enterprises in the USA are introducing cloud platform architecture to facilitate the development and runtime of cloud applications through various services such as platform as a service (PaaS), creating lucrative growth opportunities.
Europe currently holds the second-largest share of the platform architecture market, with a revenue of 20.4%. This is attributed to the flourishing construction sector in the IT sector in countries such as the United Kingdom and Germany, owing to new infrastructure development projects and rising investments.
Moreover, the gradual resumption of the construction of various data center facilities affected by temporary suspension due to the pandemic and the emergence of new IT projects are expected to revive the market for platform architectures.
Start-up companies in the platform architecture market share, are primarily focusing on incorporating advanced technologies such as AI, IoT, etc. to contribute to the market growth:
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The platform architecture market share is bottom fragmented and top consolidated, which is attributed to the presence of some key players obtaining a major block of the market share. The players are often involved in opting for both organic and inorganic growth strategies to expand their geographical presence and their product portfolio.
A few of the latest developments in the platform architecture market are:
OTHER MARKET PLAYERS IN THE PLATFORM ARCHITECTURE MARKET:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.6% from 2022 to 2032 |
| The base year for estimation | 2021 |
| Historical data | 2016 to 2021 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments Covered | Deployment Type, Services Type, Verticals, and Region. |
| Regional scope |
North America; Western; Europe Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia; and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, United Arab Emirates(UAE), Iran, South Africa |
| Key companies profiled | SAP SE; Cisco Systems Inc; IBI Group, Synopsys Inc; Microsoft Corp; Oracle Corporation; Nikken Sekkei Ltd; Perkins Eastman; IBM Corp; Jacobs Engineering Group; Apprenda Inc; RNF Technologies; Google Inc; DP Architects Pvt. Ltd; Foster + Partners. etc. |
| Customization scope | Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The platform architecture market is likely to accumulate a CAGR of 4.6%, during the forecast period.
North America is the leading platform architecture market with a revenue of 28.3%.
By 2032, the platform architecture market is likely to grow to a valuation of USD 19,235 Million.
| Market Value (2023) | USD 9,843.5 million |
|---|---|
| Market Value (2033) | USD 29,959.8 million |
| Market Projected CAGR (2023 to 2033) | 11.4% |
| Market Value (2023) | USD 1482.1 Million |
|---|---|
| Market Expected Value (2033) | USD 7,171.6 Million |
| Market Projected CAGR (2023 to 2033) | 17.1% |
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