The software industry widely used monolithic system architecture in the past to build enterprise-grade software. Such software is deployed on the self-managed onpremises servers. Monolithic architecture systems introduced many difficulties when transitioning to cloud platforms and new technologies due to scalability, flexibility, performance issues, and lower business value. As a result, people are bound to consider the new software paradigm with the separation of concern concept. Microservice architecture was introduced to the world as an emerging software architecture style for overcoming monolithic architectural limitations. This paper illustrates the taxonomical classification of microservice architecture and a systematic review of the current state of the microservice architecture by comparing it to the past and future using the PRISMA model. Conference papers and journal papers the base on the defined keywords from well-known research publishers. The results showcase that most researchers and enterprise-grade companies use microservice architecture to develop cloud-native applications. On the contrary, they are struggling with certain performance issues in the overall application. The acquired results can facilitate the researchers and architects in the software engineering domain who aspire to be concerned with new technology trends about service-oriented architecture and cloud-native development.