Service-oriented architecture (SOA) Market: Global Business Growth, Demand, Trends, Key Players and Forecasts Till 2024

Service-oriented architecture (SOA) is collection of services that communicate with each other. The communication comprise of data transfer involving two or more services facilitating specific functionality. SOA consist of modules that are built as software components called services. The components are discrete pieces of data structures that can be reused for diverse purposes, thereby providing flexibility into the software systems. SOA enhances the ability of infrastructure to transform in response to change in the business environment. It also supports the management of re-usable business services as it compromise of flexible components.

SOA facilitates outsourcing of applications or business processes. It enables interoperability, reusability, and enhances the ability of organizations by means of integrated services such as cloud, big data and mobile computing. Further, it supports reduction in maintenance, and integration cost of networks. With the industries perceiving a number of mergers and acquisitions, SOA facilitate integration of IT and business processes across the merged or acquired entities. Innovation in software technologies and infrastructures are fueling the adoption of SOA in various industry verticals such as healthcare, telecommunication and IT.

The global SOA market has been experiencing growth in recent years due to increasing adoption of mobile technology, adoption of web based applications in commercial and industrial sectors, rising adoption of cloud computing and innovation in smart phone for transactions and payments application. The other additional factors contributing to the growth of SOA market are increasing unstructured data generation by machines, technologies and equipment due to social media and growing adoption of integrated IT infrastructure. However, the long development cycle and design complexity of SOA framework is hindering the market growth of SOA market. The evolving SOA platform with integrated applications supporting cloud computing and big data technology is expected to create opportunities for expanding SOA market.

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The global SOA market is segmented on the basis of solutions, end-use adoption, services, application and geography. Based on the solution type, the global SOA market is segmented into software-as-a-services, infrastructure-as-a-service, platform-as-a-service and integration-as-a-services. In terms end-use adoption, the global SOA market is segmented into food and beverages, manufacturing, healthcare, IT and telecommunication, retail, automobile, government and bussiness financial services and insurance (BFSI).

In terms of services, the global SOA market is segmented as system integration and design. On the basis of application, the SOA market is segmented into cloud based SOA systems. Moreover, on the basis of geography the global SOA market is classified into North America, Europe, Middle East and Africa, Asia Pacific and Latin America. Among these, North America is expected to lead the market due to expansion of large firms through adoption of SOA application for integrated services to reduce operational cost such as adoption of SOA application for interconnection of applications using middleware and adoption of SOA to develop cloud computing.

Some of the key players in SOA market with most significant developments are Oracle Corporation, Software AG, Microsoft Corporation, IBM Corporation, Fujitsu Ltd., SAP SE, Tibco Software Inc., CA Technologies, 360logica Software and Crosscheck Networks.

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