According to a new report, published by KBV research, The Global Composable Applications Market size is expected to reach $13.1 billion by 2029, rising at a market growth of 17.4% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 18.2% during (2023 - 2029). The market covers an array of services. Developing and deploying reusable applications within an organization depends heavily on services. Professional services are fundamental to services because they assist in daily business operations. The offerings cover training, consultancy, support & maintenance, and integration & installation. Companies that provide these services have knowledgeable consultants and solution architects on staff that are qualified experts who support the right development and delivery of composable applications architecture.
The BFSI segment is leading the Global Composable Applications Market by Vertical in 2022 thereby, achieving a market value of $2.9 billion by 2029. Better data security is guaranteed because the data is still on-site. Furthermore, enterprises cannot afford application downtime, given the global expansion in digital transactions and rising customer expectations. In the event of a network breakdown, banks can minimize downtime using the composable infrastructure.
The North America market dominated the Global Composable Applications Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $5 billion by 2029. The Europe market is exhibiting a CAGR of 17% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 18.1% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/composable-applications-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Salesforce, Inc., Informatica, LLC, Software AG, Nutanix, Inc., Juniper Networks, Inc., Lenovo Group Limited, Western Digital Corporation, Hewlett-Packard Enterprise Company, NetApp, Inc. and Dell Technologies, Inc.
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