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 growth in the forecast period can be attributed to increased adoption of cloud-native technologies, growth of edge computing, increased demand for omnichannel solutions, enhanced security and compliance requirements, and the rise of low code. Major trends in the forecast period include increased adoption of composable infrastructure, expansion of composable enterprise architectures, growth of hybrid and multi-cloud environments, the rise of automated application composition, and integration with emerging technologies.
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Scope Of Composable Applications Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Composable Applications Market Overview
Market Drivers –
The rise of digital transformation initiatives is anticipated to significantly boost the composable applications market in the future. Digital transformation initiatives involve efforts by organizations to leverage technology for fundamentally improving processes, customer experiences, and business models. The increasing adoption of these initiatives is driven by the need to enhance operational efficiency, adapt to technological advancements, and meet changing customer expectations. Digital transformation fosters the adoption of composable applications by supporting modular, flexible architectures that can adjust to shifting business needs and encourage innovation. For instance, in May 2023, a report published by the European Investment Bank revealed that 42% of European firms invested more in digitalization in 2022, reflecting a 9% increase compared to 2021. In the same period, about 50% of firms in the United States pursued additional investments in digitalization. Thus, the rise of digital transformation initiatives is propelling the growth of the composable applications market.
Market Trends –
Major companies operating in the composable applications market are focusing on developing innovative solutions, such as digital commerce solutions, to gain a competitive edge in the market. A digital commerce solution is a technology platform that enables businesses to conduct buying and selling transactions online, including managing product catalogs, processing payments, and delivering customer experiences. For instance, in August 2022, Salesforce Inc., a US-based software company, launched the Composable Storefront, a digital commerce solution. It is a modular, headless commerce solution that allows businesses to customize and rapidly deploy digital storefronts using pre-built, application programming interface (API)-driven components. It offers seamless integration with Salesforce’s broader ecosystem, enabling personalized customer experiences and scalable growth with greater flexibility and speed in adapting to market changes.
The composable applications market covered in this report is segmented –
1) By Offering: Platform, Service
2) By Enterprise Size: Large Enterprises, Medium Enterprises, Small Enterprises
3) By Vertical: 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, Other Verticals
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Regional Insights –
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.
Key Companies –
Major companies in the 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.
Table of Contents
1. Executive Summary
2. Composable Applications Market Report Structure
3. Composable Applications Market Trends And Strategies
4. Composable Applications Market – Macro Economic Scenario
5. Composable Applications Market Size And Growth
…..
27. Composable Applications Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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