The Platform Engineering Services Market is Predict to reach USD 27.0 Billion by 2031, at a CAGR of 23.2%

13-Sep-2024 | Report Format: Electronic (PDF)

Platform Engineering Services Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Platform Engineering Services Market size is expected to reach $27 billion by 2031, rising at a market growth of 23.2% CAGR during the forecast period.

The Cloud segment is generating the highest revenue in the Global Platform Engineering Services Market by Deployment in 2023; thereby, achieving a market value of $17.4 billion by 2031. This growth was fueled by the growing popularity of cloud-based solutions, which provide enhanced cost-efficiency, scalability, and flexibility. Businesses across industries, particularly those adapting to remote work and digital transformation, favored cloud deployment to support distributed teams, improve collaboration, and enable real-time access to data and applications.

Platform Engineering Services Market Size - By Region

The IT & Telecommunications segment led the Global Platform Engineering Services Market by Vertical in 2023; thereby, achieving a market value of $5.5 billion by 2031. In order to meet the increasing demand for real-time communication and high-speed data transmission, telecommunications companies are expanding their investments in platform engineering services to develop scalable, cloud-native architectures.

The Design & Architecture segment is growing at a CAGR of 21.8 % during the forecast period. This was driven by the increasing demand for comprehensive platform design and architectural solutions to ensure seamless infrastructure scalability, security, and performance. Businesses across industries require robust initial design and architecture services to build efficient, future-proof platforms, making this segment a key contributor to the market’s growth.

Full Report: https://www.kbvresearch.com/platform-engineering-services-market/

The North America region dominated the Global Platform Engineering Services Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $9.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 22.8% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 23.8% during (2024 - 2031).