If you’ve been tracking platform engineering’s steady rise, it’s time to buckle up. According to the latest SNS Insider report, the Platform Engineering Services market is projected to explode from about $5.8 billion in 2023 to $40.17 billion by 2032, riding an incredible 23.99% CAGR. Let that sink in: nearly four times growth every three years. That’s not just growth—it’s a digital seismic event.
Banking, Insurance, Telecom & Healthcare Fuel the Shift
Growth isn’t happening in a vacuum. Vertical powerhouses—banking and financial services, insurance, telecom, retail, and healthcare—are pouring fuel on the fire. Why? In their arenas, digital innovation isn’t optional—it’s survival. Platform engineering, bolstered by DevOps and SRE-driven automation and resilience, is rapidly emerging as the backbone enabling these industries to scale software velocity while maintaining reliability and compliance.
DevOps + SRE = Platform Engineering: The New Team Behind the Team
Remember when internal developer platforms (IDPs) were considered DevOps’ secret weapon? Today they’re less secret. The report confirms that the tandem of DevOps and SRE—once about pipelines and uptime—is now empowering full-blown platform engineering efforts, backed by design, architecture, migration, and performance optimization services. This isn’t a supporting act anymore—it’s center stage.
Enterprise Scale: Tech Giants and Service Integrators Take the Lead
What really turns heads in the SNS report? The list of market leaders: Microsoft, Google, AWS, Broadcom, and the major global system integrators (Accenture, IBM, Deloitte, etc.). These are not niche players—they’re the enterprises moving the needle. Their deep investment underlines a key truth: platform engineering is an enterprise initiative—complex, strategic, and massively scalable.
- Microsoft, for example, is baking platform capabilities into Azure Arc, DevBox, and beyond—supporting internal cloud teams at scale.
- Google Cloud is scaling up its internal platform blueprints and embracing GKE-first models.
- AWS continues to build accelerator services—from Proton to CodeCatalyst—to empower internal developer platforms.
- Broadcom, via its VMware acquisition, is embedding platform standardization into Cloud Foundation 9.0
- And service integrators? They’re packaging maturity models and turnkey developer platforms as services—walk-in enterprise-grade solutions with real ROI.
Why This Is Only Getting Started
Let’s be real: most SMBs and startups won’t deploy platform teams like these giants. But for thousands of developers, regulated industries, and hybrid-cloud portfolios, platform engineering isn’t optional—it’s urgent. The next decade in enterprise IT won’t just be about deploying microservices—it’ll be about orchestrating them at scale, securely and efficiently.
What the Community Must Do Next
This moment is a challenge—and an opportunity—for our growing community of platform engineers, SREs, and DevOps leaders. As giants build ecosystems and platforms, others must double down on what matters:
- Developer Experience First – Platforms must solve problems for dev teams, not just build engineering checkboxes.
- Interoperability and Standards – With so many ecosystems converging, customized platforms must still talk.
- Security by Design – Especially in BFSI and healthcare, compliance isn’t a checkbox—it’s baked into every layer.
- Transparency and Collaboration – Find ways to share successes, frameworks, and patterns, especially from enterprise scale.
Final Word
The numbers are striking: ~$40 billion by 2032, nearly 24% annual growth. But this isn’t just about an eye-popping projection—it’s evidence that platform engineering has arrived as a strategic, top-tier capability in enterprise IT.
I’ve seen buzz fade before—but this isn’t a flash in the pan. Backed by the world’s largest platforms, consulting arms, and vertical behemoths, platform engineering is becoming the foundation layer of modern, resilient, and scalable digital transformation.
So yes, it’s time to celebrate—then roll up your sleeves. The era of platform engineering isn’t coming. It’s here.