SAN FRANCISCO, Nov. 3, 2021 /PRNewswire/ -- The global high performance message infrastructure market size is estimated to reach over USD 2.41 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.3% from 2021 to 2028. The increase in the adoption of IoT platforms is one of the key factors driving the market growth. Additionally, the development of enhanced IT infrastructure is driving the demand for high-performance message infrastructure platforms and services.
Key Insights & Findings:
The In terms of components, the software segment accounted for the largest revenue share in 2020 and is expected to retain its dominance over the forecast period as well. This can be attributed to the increase in the adoption of message-oriented hardware and middleware infrastructures among enterprises. In addition, the services segment is anticipated to register the highest CAGR of around 16% over the forecast period
In terms of industry vertical, the BFSI segment accounted for the largest revenue share in 2020 and is expected to dominate the market throughout the forecast period. As customers are going digital, banks and financial organizations are under constant pressure to offer better services and enhance their experience. This has increased the demand for advanced IT infrastructure and services to expedite the transformation process. Meanwhile, the transportation and logistics segment is anticipated to register the highest CAGR of nearly 21% over the forecast period
North America dominated the market in 2020 and is expected to continue leading over the forecast period. This can be attributed to the presence of a large number of market players in the region. Moreover, the region is also the largest producer of automation equipment and home to technological adopters as well as innovators
Meanwhile, Asia Pacific is anticipated to expand at the highest CAGR of around 16% over the forecast period. This growth is attributed to the growing cloud infrastructure spending by large as well as small & medium enterprises in the region. For instance, the cloud infrastructure spending of China grew by 66% from 2019 to 2020, recording USD 19 billion
The outbreak of COVID-19 and its unsettling influence has significantly impacted a majority of industries. However, it has also provided new opportunities for cloud-based solutions and infrastructures. Many organizations have adopted the work-from-home approach during the pandemic, which has increased the demand for platform integration services. This, in turn, has accelerated the adoption of high-performance message infrastructure to ease communication between business logic codes.
High-performance message infrastructure is a technology that provides a single shared messaging provision for a safe, easy, enhanced, and efficient integration of applications and services on numerous platforms. Moreover, even in fluctuating connectivity circumstances, a high-performance message infrastructure allows users to ensure uninterrupted functioning of the systems and avoid information loss.
The market has also benefitted from the high adoption of hybrid solutions and integration platforms, which, in turn, is contributing to the increasing investments in online high-performance message infrastructure components. The adoption of cloud solutions and services has already become a norm for a majority of businesses, and the trend is expected to witness growth over the coming years. For instance, according to Cloud Computing Statistics by Cloudwards, approximately 48% of businesses store their essential enterprise data on the cloud and nearly 94% of enterprises leverage cloud services for their business. The study also projects that by 2025, more than 100 zettabytes of data would be kept on the cloud.
Grand View Research has segmented the global high-performance message infrastructure market based on component, industry vertical, and region:
High Performance Message Infrastructure Component Outlook (Revenue, USD Million, 2016 - 2028)
High Performance Message Infrastructure Industry Vertical Outlook (Revenue, USD Million, 2016 - 2028)
IT & Telecom
Energy & Utilities
Transportation & Logistics
High Performance Message Infrastructure Regional Outlook (Revenue, USD Million, 2016 - 2028)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
List of Key Players of the High Performance Message Infrastructure Market
Internet of Things Market – The Internet of Things market is estimated to grow at 15.2 % to reach over USD 1.88 trillion by 2022. Technological proliferation and increasing investments are expected to drive the global market over the next seven years.
Cloud Security Market – The global cloud security market size is expected to reach USD 12.63 billion by 2024. Growing number of targeted cyberattacks and increasing investments in cloud infrastructure are anticipated to trigger the growth of the market.
Cloud Managed Services Market – The global cloud managed services market size is expected to reach USD 82.51 billion by 2025. The growing emphasis on mobility coupled with the requirement to focus on core business functions will drive the market growth rate.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.