The global platform architecture market is anticipated to grow at a CAGR of 14.1% from 2022 to 2032, valued at US$ 19,235 Million, up from US$ 5,127 Million in 2022. The need to stop managing servers and develop apps quickly has increased, which is likely to lead to the adoption of platform architecture.
However, some problems with third-party APIs, such as compliance, lock-in issues, vendor dependence, and security worries, are anticipated to be significant market growth inhibitors.
On the other hand, the development of serverless computing in the expanding IoT landscape and the ongoing expansion of cloud technology deployment. It’s anticipated that this will lead to 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 securing fundamentals in the IoT. Moreover, Enterprises are implementing cloud platform architecture to provide both a runtime environment and development to cloud applications 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 a positive manner .
Developing a scalable architecture for an application is one of the major challenges faced by the platform architecture market.
Platform Architecture Market: Regional Overview
Presently, the North America region holds the largest market share of the platform architecture market owing to the rapid implementation of Hadoop platform architectures by most enterprises.
In Europe and APAC region, the market of platform architecture is growing in a positive manner owing to the 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, applications, and industry.
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