Asia-Pacific Platform Engineering Services Market Statistics: 2032
The Asia-Pacific platform engineering services market was valued at $1.13 billion in 2022 and is projected to reach $11.80 billion by 2032, growing at a CAGR of 26.7% from 2023 to 2032.
The process of designing, creating, and testing software, a device, a system, or an assembly is known as product engineering. Development of new products, product design, prototype testing, and maintenance services are some of the key areas of focus. The market for product engineering services is expanding primarily owing to the increase in demand for smart homes, reduced production costs, and continuous innovation and iteration. Platform engineering improves developer experience and productivity by providing self-service capabilities with automated infrastructure operations. Platform engineering is trending because of its promise to optimize the developer experience and accelerate product teams’ delivery of customer value.
Modern product engineering services are important owing to the increased desire for improving consumer experiences. A company that offers product engineering services prioritizes cutting down on Time-to-Market (TTM), redesigning products, and lowering the total cost of ownership for innovative solutions. Moreover, organizations must overcome the challenges of a small staff and tight financial resources to speed up the time to market their products.
Furthermore, factors such as the rise in demand for advanced technologies primarily drive the growth of the Asia-Pacific platform engineering services market. However, expensive initial investments and lack of awareness for new product engineering services hamper market growth to some extent. Moreover, more smart city projects are being undertaken and are expected to provide lucrative opportunities for market growth during the forecast period.
Depending on service type, the design and architecture segment dominated the Asia-Pacific platform engineering services market size in 2022, owing to leverage new technologies and easily incorporate new features and functionalities into their platforms as they become available. It also ensures seamless integration and interoperability between different components and systems within the platform. However, the optimization and performance tuning segment is expected to witness highest growth in the Asia-Pacific platform engineering services market, owing to analyze the platform's current architecture, identify potential scalability limitations, and recommend architectural changes and optimizations.
On the basis of deployment mode, on-premise dominated the Asia-Pacific platform engineering services market share in 2022, owing to ensure efficient resource utilization and responsiveness. Moreover, the on-premises segment in platform engineering service also conducts performance assessments, identify bottlenecks, and implements optimizations, such as tuning database queries, optimizing code, or fine-tuning hardware configurations.
However, cloud is expected to witness significant growth during the forecast period, owing to the integrity, confidentiality, and availability of platform engineering services. Moreover, cloud robust security measures including physical security, network security, and infrastructure protection to engineering services from unauthorized access or attacks.
Segment Review
The Asia-Pacific platform engineering services market is segmented on the basis of service type, deployment mode, enterprise size, and industry vertical. On the basis of service type, it is segregated into design and architecture, development and implementation, integration and migration, support and maintenance, optimization and performance tuning, and others. On the basis of deployment mode, it is bifurcated into on-premise and cloud. On the basis of enterprise size, it is divided into large enterprises and small and medium-sized enterprise. On the basis of industry vertical, it is classified into IT and telecom, BFSI, manufacturing, retail and e-commerce, healthcare, government, and others. Asia-Pacific region is further studied across China, Japan, India, South Korea, Australia, Indonesia, and Rest of Asia-Pacific.
The report focuses on growth prospects, restraints, and analysis of the global Asia-Pacific platform engineering services market trend. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the global Asia-Pacific platform engineering services market trends.
Competition Analysis
Competitive analysis and profiles of the major players in the Asia-Pacific platform engineering services industry include Accenture, Cisco Systems, HCL Technologies Limited, Amazon Web Services, International Business Machine Corporation, Intel Corporation, Salesforce Inc., Microsoft Corporation, ServiceNow, Oracle Corporation. Major players have adopted product launch, partnership, collaborations, and acquisition as key developmental strategies to improve the product portfolio and gain strong foothold in the Asia-Pacific platform engineering services industry.
Recent Partnership in the Asia-Pacific Platform Engineering Services Market
On August 2023, Cisco partnered with Nutanix, to accelerate hybrid multicloud deployments by offering the industry's most complete hyperconverged solution for IT modernization and business transformation.
On March 2022, Celonis partnered with IBM, to scale the adoption of process mining and execution management in the Asia-Pacific (APAC) region. By optimizing the processes, companies can drive efficiency and performance despite this period of supply chain volatility and hyperinflation.
By Service Type
Design and architecture segment is projected as one of the most lucrative segments.
Recent Upgrade/Product Launch in the Asia-Pacific Platform Engineering Services Market
On September 2022, Salesforce enhanced its platform engineering services and launched Salesforce Genie, a hyperscale real-time data platform that powers the entire Salesforce Customer 360 platform.
On August 2020, Accenture and ServiceNow launched a business group that seeks to help private and public sector customers ramp up digital transformation. The company aims to invest millions of dollars in the Accenture ServiceNow Business Group.
Recent Collaboration in the Asia-Pacific Platform Engineering Services Market
On January 2023, SAP collaborated with AWS, to accelerate digital transformation to support their customers. This collaboration builds on the success of the longstanding SAP and AWS partnership by bringing together the technology, solutions, and flexibility that customers need to help businesses succeed in the digital economy.
On July 2022, HCL Technologies (HCL) collaborated with Microsoft, to launch the new Digital Contact Center platform, which is expected to deliver a broad digital transformation of customer service operations across industries.
By Deployment Mode
On-premise segment is projected as one of the most lucrative segments.
Top Impacting Factors:
Rise in Trend for Advanced Technologies
The rise in advanced technologies is driving the growth of the platform engineering services market by creating an increased demand for specialized platforms capable of leveraging these technologies. Furthermore, businesses are increasingly adopting AI, IoT, blockchain, big data, and other advanced solutions to gain a competitive approach and improved operational efficiency. In addition, businesses are using the full potential of these tools, with the growth of technologies such as cloud computing, artificial intelligence, Internet of Things (IoT), and blockchain.
Furthermore, platform engineering services play a major role by providing the expertise needed to develop and manage various digital platforms. These platforms serve as the foundation for applications and services, enabling businesses to scale, innovate, and remain competitive in the growing market. Therefore, these technologies provide crucial infrastructure, architecture, and support required to create customized platforms that enable organizations to get the benefits of these rising technologies, thereby fueling the growth of the market.
By Enterprise Size
Large Enterprise segment is projected as one of the most lucrative segments.
Increase in Demand for Continuous and Quick Application Delivery
The platform engineering industry has been experiencing significant growth since the past few years as it helps organizations to bridge the gap between strategic goals and the day-to-day management of work. Organizations have the insights to support an outcome-driven approach to software development with increased visibility and alignment. Moreover, platform engineering solutions are enabling integration and deployment of code without delays which in turn is improving the frequency and quality of software delivery. Furthermore, platform engineering services are cutting the development time from months or weeks to days or even hours as application changes are made faster and frequently reach the production environment. Therefore, accelerating the prototype development cycle and reducing deployment time.
By Industry Vertical
IT and Telecom segment is projected as one of the most lucrative segments.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the Asia-Pacific platform engineering services market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the Asia-Pacific platform engineering services market growth is provided in the report.
- The Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Asia-Pacific platform engineering services market analysis.
- The quantitative analysis of the APAC platform engineering services market for the period 2021–2031 is provided to determine the APAC platform engineering services market potential.
Asia-Pacific Platform Engineering Services Market Report Highlights
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Analyst Review
Every industry is being impacted by the platform economy, which is disrupting conventional business structures and altering the value chain of the commercial world. The only way to ensure the organization's future is to reimagine it using a platform-centered business model. Platform engineering services assist in navigating the new environment using cutting-edge technology, specialist knowledge, and best practices to accelerate the journey of the engineering platform. In addition, a new wave of platform thinking is giving businesses the chance to accelerate value generation and reinvention. Platform-centered business models make it easier to engage, share information and experiences within and outside the organization, and thus, foster client loyalty. They allow businesses to swiftly create and deploy new services for consumer use, and reuse models that are flexible and open across the organization.
Furthermore, new platforms that enable constant innovation and flexibility are built on the foundation of ever-evolving technology. Platforms that are built upon and activate opportunities throughout the Cloud Continuum, spanning data, AI, and Edge, rely on the cloud as both their basis and their facilitator. Modern, ecosystem-focused platforms make it possible to integrate developing technologies and create new collaborations, expanding the range of possibilities. The development of the market is fueled by these new cutting-edge technologies and competitiveness to survive in an environment that is constantly changing.
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