The traditional monolithic approach is widely employed in centralized software development, deployment, and reusability, as the modules are tightly connected, causing several challenges in programming. The study utilized different techniques for the easy transformation of several running monolithic applications to micro services including, Angular 2, REST API, Web application and several other architectural approaches are discussed. This review paper highlights the significance of microservices and the transformation of monolithic applications towards microservices. As multiple software applications are an integral part of a traditional monolithic application, the modules cannot be extended separately, and different modules cannot use various technology stacks. So, monolithic source code must be migrated to the microservice platform in order to extend `the lifecycle of applications in today's environment. However, due to structural complexity, scattered application logic, and dependency upon external framework libraries, the transformation towards a microservices platform is quite challenging. A Microservice architecture is a container of loosely coupled independent services making a flexible system. In this study, potential areas for the transformation of monolithic application source code are highlighted. Furthermore, key challenges and open research issues in this area are highlighted, requiring the research community's attention. The study concludes that Microservices are not a one-size-fits-all solution for every challenging situation. Monolithic transformation requires significant amount of time and effort on the part of everyone in the business.
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