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

Global Platform Engineering Services Market Insights Forecasts to 2033

• The Global Platform Engineering Services Market Size Was Estimated at USD 5.40 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 23.50% from 2023 to 2033
• The Worldwide Platform Engineering Services Market Size is Expected to Reach USD 44.56 Billion by 2033
• Europe is Expected to Grow the fastest during the Forecast period.

The Global Platform Engineering Services Market Size is Anticipated to Exceed USD 44.56 Billion by 2033, Growing at a CAGR of 23.50% from 2023 to 2033. The market growth is rising due to the implementation of cloud, DevOps, and upcoming technologies like as blockchain, edge computing, and 5G.  Companies are increasingly looking for safe, efficient platforms to boost productivity, lower costs, and meet regulatory standards.

Market Overview

The platform engineering services market refers to the market for services about platform-based system design, development, deployment, and management, which allow companies to create, implement, and scale applications. These platforms can include enterprise platforms, software platforms, cloud infrastructure, and technological frameworks that businesses use to create and oversee their digital goods and services.

Platform engineering is revolutionizing how state and municipal governments create, implement, and safeguard their digital services. DevSecOps, which combines development, security, and operations, is being adopted by governments more and more. Platform engineering advances this process by providing a unified platform that speeds up the creation of digital services, reduces costs, and improves security. Here are several ways that platform engineering is essential to the modernization of public sector IT.

HCLTech provides a complete array of Engineering and R&D Services (ERS) that spans the whole digital engineering landscape. These services include new product development, network engineering, collaborative services, software product engineering, data engineering, linked experiences, and PaaS (Platform as a Service). Their comprehensive approach enables firms to create and deploy cutting-edge platforms, helping they remain competitive in the continuously changing digital landscape.

Platform engineering is becoming a crucial service for companies looking to cut expenses, boost productivity, and expedite the delivery of IT solutions in the fast-paced digital world of now.  Platform Engineering assists businesses in creating scalable, effective, and secure platforms that produce business results by implementing cloud-native technology, increasing government innovations, and the rising research and development towards platform engineering expansion of the market growth.

Report Coverage

This research report categorizes the platform engineering services market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the platform engineering services market. Recent market developments and competitive strategies such as expansion, Type of Software launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the platform engineering services market.

Driving Factors

The platform engineering services market is experiencing rapid growth driven by the growing use of platform engineering services in industries including manufacturing, retail, healthcare, and BFSI. The need for advanced platform solutions is being driven by the adoption of DevOps and CI/CD processes, as well as the move to cloud environments. Blockchain, edge computing, and 5G are examples of emerging technologies that are opening up new possibilities. The demand for safe and effective platforms is being driven further by the emphasis on individualized client experiences and regulatory compliance. The market for platform engineering services keeps growing as companies look to reduce costs and increase productivity.

Restraining Factors

The market growth is hindered by the platform engineering is a highly specialized industry that necessitates an extensive understanding of multiple disciplines, including cloud architecture, software development, automation, DevOps processes, and cybersecurity. This talent scarcity has a direct influence on firms' capacity to adopt platform engineering solutions efficiently. As a result, a skilled labor scarcity may impede market expansion.

Market Segmentation

The global platform engineering services market is classified into deployment, organization size, service type, and vertical.

• The cloud segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the forecast period.

Based on the 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 forecast period. The segmental growth can be attributed to the cloud platforms are crucial for scalability and quick deployment, which enables companies to enable agile development and swiftly adjust to changes in the market. For increased efficiency and technological integration, many businesses are switching from legacy systems to cloud alternatives. Businesses may take advantage of the greatest features offered by several cloud providers and avoid vendor lock-in through the growing popularity of multi-cloud and hybrid cloud setups. The need for specialized platform engineering services is being driven by the emergence of cloud-native technologies like microservices and containers. This change highlights how complicated cloud infrastructures require sophisticated platform management.

• The large enterprises segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the 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 complex IT environments with several systems, apps, and data sources that must be smoothly linked are common in large businesses. They need scalable platform engineering solutions that can manage high transaction speeds and massive data volumes. The need for sophisticated platform engineering services is fueled by large corporations' investments in updating outdated systems and implementing new technology. Advanced platform solutions are needed as cloud computing, AI, machine learning, and IoT become more prevalent.

• The design and architecture segment held the greatest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the 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 strong design and architectural services are becoming more and more necessary as companies implement increasingly complicated IT systems to guarantee smooth integration. Architectures that are both scalable and adaptable are necessary to facilitate the expansion and flexibility of businesses.  To successfully incorporate cutting-edge technology like AI and machine learning, careful design is required.  This emphasis on design enables companies to take advantage of technology breakthroughs for long-term 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.

Based on the 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 advanced platform engineering required for the upgrading of telecom networks and IT infrastructure to integrate new technologies and improve system performance. Strong solutions are needed to handle growing traffic and maximize dispersed resources as 5G, edge computing, and virtualized networks become more prevalent. Specialized platform engineering is required to accommodate the changing telecom landscape as a result of these improvements.

Regional Segment Analysis of the Platform Engineering Services Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the platform engineering services market over the predicted timeframe.

North America is anticipated to hold the largest share of the platform engineering services market over the predicted timeframe. The region's growth can be boosted by the demand for cutting-edge platform engineering services to support the newest technologies, such as AI, IoT, and blockchain, which is driven by this region's prominence in technological innovation. The area is leading the way in the adoption of cloud computing, necessitating advanced platform engineering services for cloud optimization, management, and migration.

Europe is expected to grow at the fastest CAGR of the platform engineering services market during the forecast period. Platform engineering services are in high demand as a result of European businesses investing in digital transformation to update their IT infrastructure and include cutting-edge technologies. The need for platforms that comply with the unique data protection and privacy legislation of several European nations is fueled by these laws.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the platform engineering services market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Developments

• In May 2024, DXC Technology Company, an IT company, partnered with Dell Inc. to enhance Enterprise Intelligence Services (EIS).  This collaboration represents a significant step forward in the use of new technologies such as artificial intelligence, machine learning, data analytics, and intelligent automation to convert data into a more integrated business view.

• In August 2024, HCLTech expanded its AI-driven engineering and digital process operations (DPO) collaboration with Xerox, which began in 2009.  The expanded collaboration aims to reinvent Xerox's operations for long-term growth by integrating automation, product engineering, and HCLTech's GenAI platform, AI Force.  The alliance intends to improve critical business KPIs such as working capital, sales productivity, and remote problem-solving, all while assisting Xerox's newly formed Global Business Services department.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the 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 Analysis

• 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