Composable Applications Market Report 2024

This Composable Applications industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The composable applications market size has grown exponentially in recent years. It will grow from $5.54 billion in 2023 to $6.69 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%. The growth during the historic period can be attributed to digital transformation initiatives, the rise of microservices, increasing demand for customization, a focus on enhancing user experience, and advancements in development tools.

The composable applications market size is expected to see exponential growth in the next few years. It will grow to $14.21 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%. The projected growth during the forecast period can be attributed to the increased adoption of cloud-native technologies, the expansion of edge computing, rising demand for omnichannel solutions, heightened security and compliance requirements, and the growing popularity of low-code platforms. Key trends expected include the greater adoption of composable infrastructure, the expansion of composable enterprise architectures, the growth of hybrid and multi-cloud environments, the rise of automated application composition, and integration with emerging technologies.

The anticipated growth of the composable applications market is likely to be driven by the rise of digital transformation initiatives. These initiatives involve organizations using technology to significantly enhance processes, customer experiences, and business models. The push for digital transformation stems from the need to improve operational efficiency, adapt to technological changes, and meet evolving customer expectations. It supports the adoption of composable applications by facilitating modular, flexible architectures that can adjust to changing business needs and promote innovation. For example, in May 2023, a report from the European Investment Bank, a Luxembourg-based EU financial institution, revealed that in 2022, 42% of European companies increased their investment in digitalization, up by 9 percentage points from 2021. Meanwhile, 50% of firms in the United States also pursued additional digitalization investments during the same period. Thus, the growth of digital transformation initiatives is fueling the expansion of the composable applications market.

Leading companies in the composable applications market are concentrating on developing innovative solutions, such as digital commerce platforms, to gain a competitive advantage. A digital commerce solution is a technology platform that facilitates online buying and selling transactions, including product catalog management, payment processing, and customer experience delivery. For instance, in August 2022, Salesforce Inc., a US-based software company, introduced the Composable Storefront, a digital commerce solution. This modular, headless commerce platform enables businesses to customize and quickly deploy digital storefronts using pre-built, API-driven components. It integrates seamlessly with Salesforce's broader ecosystem, offering personalized customer experiences and scalable growth with enhanced flexibility and speed in adapting to market changes.

In January 2023, Microsoft Corporation, a US-based software company, acquired Fungible Inc. for an undisclosed amount. This acquisition enhances Microsoft's infrastructure, allowing for more efficient data management, better scalability, and reduced latency for its cloud services. Fungible Inc. is a US-based provider of composable applications.

Major players in the composable applications market are Amazon.com Inc., Microsoft Corporation Inc., Dell Technologies Inc., International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, SAP SE, Salesforce Inc., Adobe Inc., VMware Inc., Elastic NV, OutSystems, Appian Corporation, TIBCO Software Inc., Mendix Technology B.V., Workato Inc., Sage IT Inc., Kong Inc., SnapLogic Inc., and Amzur Technologies Inc.

North America was the largest region in the composable applications market in 2023. The regions covered in composable applications report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the composable applications market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Composable applications are software systems designed to be modular and easily reconfigurable. They use discrete, interchangeable components or services that can be combined or replaced as needed, offering flexible and scalable solutions tailored to specific business requirements. This approach facilitates faster development, simpler maintenance, and adaptability to evolving needs.

The main types of composable application offerings are platforms and services. A composable applications platform is a software environment that enables businesses to build, customize, and deploy applications by assembling pre-built, modular components. These applications are utilized by large enterprises, medium enterprises, and small enterprises across various sectors, including banking, financial services, and insurance (BFSI), retail and e-commerce, government, healthcare and life sciences, manufacturing, information technology (IT) and information technology-enabled services (ITES), energy and utilities, among others.

The composable applications market research report is one of a series of new reports that provides composable applications market statistics, including composable applications industry global market size, regional shares, competitors with a composable applications market share, detailed composable applications market segments, market trends and opportunities, and any further data you may need to thrive in the composable applications industry. This composable applications market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The composable applications market includes revenues earned by entities by providing services such as application integration, microservices development, cloud services, data management, consulting and strategy, monitoring and analytics, support, and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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