Global Platform Engineering Services Market Size To Exceed USD 44.56 Billion By 2033 | CAGR of 23.50%
Category: Information & TechnologyGlobal Platform Engineering Services Market Size To Exceed USD 44.56 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Platform Engineering Services Market Size is Expected to Grow from USD 5.40 Billion in 2023 to USD 44.56 Billion by 2033, at a CAGR of 23.50% during the Forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Platform Engineering Services Market Size, Share, and COVID-19 Impact Analysis, By Deployment (Cloud, and On-premises), By Organization Size (Large Enterprises, and SMEs), By Service Type (Design And Architecture, Development And Implementation, Integration And Migration, Support And Maintenance, Optimization And Performance Tunings, and Others), By Vertical (IT And Telecommunications, BFSI, Manufacturing, Retail And E-Commerce, Healthcare, Government, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/platform-engineering-services-market
The platform engineering services market refers to the market for services related to the design, development, deployment, and management of platform-based systems, which enable businesses to develop, implement, and scale applications. These platforms may consist of cloud infrastructure, software platforms, corporate platforms, and technology frameworks that companies utilize to develop and manage their digital products and services. The market growth is driven by the increasing use of these services in BFSI, manufacturing, retail, and healthcare sectors. The adoption of CI/CD and DevOps procedures, along with the shift to cloud environments, is driving the need for enhanced platform solutions. 5G, edge computing, and blockchain are a few examples of new technologies that are creating new opportunities. However, the market growth is hindered by a highly specialized profession that requires a thorough understanding of several disciplines, including cloud architecture, software development, automation, DevOps procedures, and cybersecurity.
The cloud segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe.
On the basis of deployment, the platform engineering services market is categorized into cloud and on-premises. Among these, the cloud segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the projected timeframe. The segmental growth can be attributed to the cloud platforms are critical for scalability and rapid deployment, allowing businesses to support agile development and respond quickly to market developments. Many firms are migrating from legacy systems to cloud alternatives to improve efficiency and technology integration. Businesses may take advantage of the best features offered by many cloud providers while avoiding vendor lock-in through the growing popularity of multi-cloud and hybrid cloud deployments.
The large enterprises segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of organization size, the platform engineering services market is categorized into large enterprises and SMEs. Among these, the large enterprises segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can be attributed to the large firms frequently have complicated IT environments with several systems, apps, and data sources that need to work together seamlessly. They require platform engineering solutions that are scalable to handle large volumes of data and fast transaction speeds. The efforts made by big businesses in modernizing antiquated systems and introducing new technology are driving the demand for advanced platform engineering services.
The design and architecture segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of service type, the platform engineering services market is categorized into design and architecture, development and implementation, integration and migration, support and maintenance, optimization and performance tunings, and others. Among these, the design and architecture segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can be attributed to the businesses deploy more complex IT systems to ensure seamless integration, quality design and architectural services are becoming more and more essential. In order to support corporate growth and flexibility, scalable and flexible architectures are required. Careful design is necessary to successfully integrate cutting-edge technologies like AI and machine learning. Because of this focus on design, businesses are able to capitalize on technological advancements for sustained success.
The IT and telecommunications segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of vertical, the platform engineering services market is categorized into IT and telecommunications, BFSI, manufacturing, retail and e-commerce, healthcare, government, and others. Among these, the IT and telecommunications segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can be attributed to the sophisticated platform engineering needed to upgrade IT infrastructure and telecom networks to incorporate new technologies and enhance system performance. As 5G, edge computing, and virtualized networks proliferate, robust solutions are required to manage increasing traffic and optimize distributed resources. Because of these advancements, specialized platform engineering is needed to adapt to the evolving telecom environment.
North America is anticipated to hold the largest share of the global platform engineering services market over the forecast period.
Get more details on this report -
North America is anticipated to hold the largest share of the global platform engineering services market over the forecast period. The region's significance in technological innovation is driving the need for state-of-the-art platform engineering services to support the newest technologies, like blockchain, IoT, and AI. Because the region is at the forefront of cloud computing usage, professional platform engineering services are required for cloud migration, management, and optimization.
Europe is estimated to grow at the fastest CAGR of the global platform engineering services market during the forecast period. European companies are investing in digital transformation to upgrade their IT infrastructure and incorporate cutting-edge technology, and platform engineering services are in great demand. These rules drive the demand for platforms that adhere to the distinct privacy and data protection requirements of various European countries.
Major vendors in the global Platform Engineering Services market are Microsoft, SAP SE, Amazon Web Services, Google, Oracle, Salesforce, Inc., Hewlett Packard Enterprise Development LP, Red Hat, Inc., International Business Machines Corporation, IBM Corporation, ServiceNow, Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In April 2024, Oracle and Kyndryl Inc. collaborated to assist end users in updating and migrating their databases and apps. By providing internationally managed cloud solutions, Kyndryl Inc.'s cooperation with Oracle is essential to helping customers accelerate their cloud journey. As an Oracle Cloud Infrastructure (OCI) delivery partner, Kyndryl offers a wide range of services to help customers maximize their investments across all Oracle technologies, from infrastructure to apps.
Market Segment
This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global platform engineering services market based on the below-mentioned segments:
Global Platform Engineering Services Market, By Deployment
- Cloud
- On-premises
Global Platform Engineering Services Market, By Organization Size
- Large Enterprises
- SMEs
Global Platform Engineering Services Market, By Service Type
- Design And Architecture
- Development And Implementation
- Integration And Migration
- Support And Maintenance
- Optimization And Performance Tunings
- Others
Global Platform Engineering Services Market, By Vertical
- IT And Telecommunications
- BFSI, Manufacturing
- Retail And E-Commerce
- Healthcare
- Government
- Others
Global Platform Engineering Services Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?