Platform engineering services are a new movement that aims to modernize the supply of enterprise software, especially for digital transformation. A dedicated product team develops and maintains the engineering platform, which is made to support the requirements of software developers and others by offering standard, reusable tools and capabilities and interacting with complicated infrastructure. In reaction to the growing complexity of contemporary software architectures, platform engineering services are gaining popularity. In the modern world, non-expert end users are frequently asked to handle a collection of intricate services. Furthermore, an engineering platform's specific capabilities are solely determined by the demands of its end users. The platform engineering service is provided to clients who may be developers, data scientists, or end users. These services are created by a committed team of professionals. Platform teams must first comprehend the requirements of their user groups, set priorities for their work, and then create platforms that will be helpful to their intended users. A company that offers product engineering services prioritizes cutting down on Time-to-Market (TTM), redesigning products, and lowering the total cost of ownership for innovative solutions. Moreover, organizations must overcome the challenges of a small staff and tight financial resources to speed up the time to market for their products.
Furthermore, factors such as the rise in the demand for advanced technologies and surge in demand for continuous and fast application delivery primarily drive the platform engineering services market growth. However, expensive initial investments and lack of awareness for new product engineering services hamper the market growth to some extent. Moreover, more smart city projects are being undertaken and are expected to provide lucrative opportunities for the market growth during the forecast period.
The platform engineering services market is segmented on the basis of service type, deployment mode, enterprise size, industry vertical, and region. On the basis of service type, it is segregated into design and architecture, development and implementation, integration and migration, support and maintenance, optimization and performance tuning and others. On the basis of deployment mode, it is segregated into on-premise and cloud. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprise. On the basis of industry vertical, it is divided into IT and telecom, BFSI, manufacturing, retail and e-commerce, healthcare, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the platform engineering services industry are International Business Machine Corporation, Accenture, HCL Technologies Limited, Intel Corporation, ServiceNow, Inc., Oracle Corporation, Salesforce Inc., Amazon Web Services, Inc., Microsoft Corporation, and Cisco Systems, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the platform engineering services industry globally.
Depending on service type, the design and architecture segment dominated the global platform engineering services market share, owing to designing platforms that are adaptable to emerging technologies and market trends. This enables businesses to leverage new technologies and easily Incorporate new features and functionalities into their platforms as they become available. The optimization and performance tuning segment would also showcase the fastest growth during the forecast period, owing to monitoring tools and technologies to collect real-time performance data, track key metrics, and detect performance anomalies. Real-time monitoring enables proactive identification of performance issues, immediate alerting, and prompt action to address potential performance bottlenecks, ensuring optimal platform performance and availability.
Region-wise, North America garnered the highest share for global platform engineering services market size in 2022, and is projected to retain its dominance by 2032, owing to the rising adoption of cloud and other emerging technologies in varied industries has led to a considerable rise in demand for platform engineering services. The Asia-Pacific region would also portray the fastest growth during the forecast period, owing to growing on account of evolving digital landscape, the growth of e-commerce and start-ups, cloud adoption, and the Increasing importance of data-driven decision making.
Furthermore, factors such as the rise in the demand for advanced technologies and surge in demand for continuous and fast application delivery primarily drive the platform engineering services market growth. However, expensive initial investments and lack of awareness for new product engineering services hamper the market growth to some extent. Moreover, more smart city projects are being undertaken and are expected to provide lucrative opportunities for the market growth during the forecast period.
The platform engineering services market is segmented on the basis of service type, deployment mode, enterprise size, industry vertical, and region. On the basis of service type, it is segregated into design and architecture, development and implementation, integration and migration, support and maintenance, optimization and performance tuning and others. On the basis of deployment mode, it is segregated into on-premise and cloud. On the basis of enterprise size, it is segregated into large enterprises and small and medium-sized enterprise. On the basis of industry vertical, it is divided into IT and telecom, BFSI, manufacturing, retail and e-commerce, healthcare, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the platform engineering services industry are International Business Machine Corporation, Accenture, HCL Technologies Limited, Intel Corporation, ServiceNow, Inc., Oracle Corporation, Salesforce Inc., Amazon Web Services, Inc., Microsoft Corporation, and Cisco Systems, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the platform engineering services industry globally.
Depending on service type, the design and architecture segment dominated the global platform engineering services market share, owing to designing platforms that are adaptable to emerging technologies and market trends. This enables businesses to leverage new technologies and easily Incorporate new features and functionalities into their platforms as they become available. The optimization and performance tuning segment would also showcase the fastest growth during the forecast period, owing to monitoring tools and technologies to collect real-time performance data, track key metrics, and detect performance anomalies. Real-time monitoring enables proactive identification of performance issues, immediate alerting, and prompt action to address potential performance bottlenecks, ensuring optimal platform performance and availability.
Region-wise, North America garnered the highest share for global platform engineering services market size in 2022, and is projected to retain its dominance by 2032, owing to the rising adoption of cloud and other emerging technologies in varied industries has led to a considerable rise in demand for platform engineering services. The Asia-Pacific region would also portray the fastest growth during the forecast period, owing to growing on account of evolving digital landscape, the growth of e-commerce and start-ups, cloud adoption, and the Increasing importance of data-driven decision making.
Top impacting factors
Rise in the demand for advanced technologies
All industries require custom and high-grade components. Innovation is necessary in every industry, Including automotive, aircraft, electrical connectors, and chemical processes. Progressive manufacturing is made feasible by many new and developing technologies. The majority of profits from advanced manufacturing are invested in R&D to enhance production processes. Traditional manufacturing often invests in higher output at a cheaper cost rather than innovation. As a result, they typically buy more manufacturing equipment and space rather than inventing new machinery. Advanced technology is described as a new or emerging IT innovation that has few users today but has the potential to have a big impact in the future. While this market is dis Inct from advanced manufacturing and manufacturing technology, they are nonetheless related. To enhance supply chain operations and product quality, advanced manufacturing uses cutting-edge technology and manufacturing equipment. This rise in demand for new innovative technologies is the key driver for the platform engineering service market.Surge in demand for continuous and fast application delivery
The platform engineering industry is experiencing significant growth Ince the past few years as it helps organizations to bridge the gap between strategic goals and the day to day management of work. With Increased visibility and alignment, organizations have the insights to support an outcome-driven approach to software development. Moreover, platform engineering solutions are enabling integration and deployment of code without delays which in turn is improving the frequency and quality of software delivery. Furthermore, platform engineering services are cutting the development time from months or weeks to days or even hours as application changes are done faster and frequently reach the production environment. Therefore, accelerating the prototype development cycle and reducing deployment time.Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the platform engineering services market analysis from 2022 to 2032 to identify the prevailing platform engineering services market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the platform engineering services market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global platform engineering services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service Type
- Design and Architecture
- Development and Implementation
- Integration and Migration
- Support and Maintenance
- Optimization and Performance Tuning
- Others
By Deployment Mode
- On-premise
- Cloud
By Enterprise Size
- Large Enterprise
- Small and Medium-sized Enterprise
By Industry Vertical
- IT and Telecom
- BFSI
- Manufacturing
- Retail and E-commerce
- Healthcare
- Government
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Accenture
- Cisco Systems, Inc.
- HCL Technologies Limited
- Amazon Web Services, Inc.
- International Business Machines Corporation
- Intel Corporation
- Salesforce Inc.
- Microsoft Corporation
- ServiceNow, Inc.
- Oracle Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PLATFORM ENGINEERING SERVICES MARKET, BY SERVICE TYPE
CHAPTER 5: PLATFORM ENGINEERING SERVICES MARKET, BY DEPLOYMENT MODE
CHAPTER 6: PLATFORM ENGINEERING SERVICES MARKET, BY ENTERPRISE SIZE
CHAPTER 7: PLATFORM ENGINEERING SERVICES MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: PLATFORM ENGINEERING SERVICES MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Platform Engineering Services Market,' The platform engineering services market was valued at $4.9 billion in 2022, and is estimated to reach $41.2 billion by 2032, growing at a CAGR of 24.2% from 2023 to 2032.Platform engineering services are a new movement that aims to modernize the supply of enterprise software, especially for digital transformation. A dedicated product team develops and maintains the engineering platform, which is made to support the requirements of software developers and others by offering standard, reusable tools and capabilities and interacting with complicated infrastructure. In reaction to the growing complexity of contemporary software architectures, platform engineering services are gaining popularity. In the modern world, non-expert end users are frequently asked to handle a collection of intricate services. Furthermore, an engineering platform's specific capabilities are solely determined by the demands of its end users. The platform engineering service is provided to clients who may be developers, data scientists, or end users. These services are created by a committed team of professionals. Platform teams must first comprehend the requirements of their user groups, set priorities for their work, and then create platforms that will be helpful to their intended users.
Furthermore, factors such as the rise in the demand for advanced technologies and surge in demand for continuous and fast application delivery primarily drive the platform engineering services market growth. However, expensive initial investments and lack of awareness for new product engineering services hamper the market growth to some extent. Moreover, more smart city projects are being undertaken and are expected to provide lucrative opportunities for the market growth during the forecast period.
- On the basis of deployment mode, the global platform engineering services market share was dominated by the cloud segment in 2022 and is expected to maintain its dominance in the upcoming years owing to the cloud services that ensures the integrity, confidentiality, and availability of platform engineering services. However, the on-premises segment is expected to witness the highest growth, as the on-premises segment in platform engineering service also conducts performance assessments, identify bottlenecks, and implements optimizations, such as tuning database queries, optimizing code, or fine-tuning hardware configurations.
- By region, North America dominated the market share in 2022 for the platform engineering services market. The rise in investment in advanced technologies, such as cloud-based services, AI, ML, business analytics solution, and IoT, to improve businesses and the customer experience are anticipated to propel the growth of the platform engineering services market. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology are expected to provide lucrative growth opportunities for the market in this region.
Technological aspect:
Platform engineering services encompass various technologies and tools to design, develop, deploy, and manage platforms. In addition, platform engineering services leverage IaC frameworks like Terraform, CloudFormation, or Ansible to define and provision infrastructure resources programmatically. This approach allows for automated and consistent infrastructure setup across different environments, ensuring scalability, reproducibility, and version control. Furthermore, platform engineering services leverage cloud platforms like Amazon Web Services (AWS), Microsoft Azure, or Google Cloud Platform (GCP). They utilize cloud services such as virtual machines, storage, databases, and serverless computing to build scalable and cost-efficient platforms. Cloud-native practices and services like AWS Lambda or Azure Functions enable serverless architectures. For instance, in June 2021, Salesforce Inc., and Amazon Web Services, Inc. partnered to use the full set of Salesforce and AWS capabilities together to quickly build and deploy powerful new business applications that accelerate platform engineering services and digital transformation.
Key findings of the study
- By service type, the design and architecture segment leds the platform engineering services market forecast in 2022.
- By deployment mode, the on-premise segment dominated the platform engineering services market size in 2022.
- On the basis of industry vertical, manufacturing is the fastest growing segment with highest CAGR for platform engineering services market.
- Region-wise, North America generated the highest revenue for platform engineering services market analysis.
Companies Mentioned
- Accenture
- Cisco Systems, Inc.
- HCL Technologies Limited
- Amazon Web Services, Inc.
- International Business Machines Corporation
- Intel Corporation
- Salesforce Inc.
- Microsoft Corporation
- ServiceNow, Inc.
- Oracle Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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