Context: microservices architecture enables organizations to develop an application as a suite of loosely coupled small and independent services that can be developed, tested, and deployed independently. Various organizations are re-architecting their existing monolithic systems with microservices architecture. However, re-architecting the entire system can bring some indefinite challenges. Objective: the goal of this research project is to investigate (i) the need for migration from monolithic to microservices architecture, (ii) architectural description for adopting microservices, (iii) refactoring tools and methods (iv) potential challenges while transforming to microservices, and (v) effective patterns and strategies to adopt microservice successfully. Methodology: the industrial empirical (interviews, case study, and questionnaire survey) approach will be used to meet the research objective. Possible outcomes: the expected outcomes would be (i) an evidence-based decision-making framework for transforming monolithic architecture (ii) strategies to refactor the monolithic architecture (iii) prioritization-based taxonomy of challenges while transforming to microservices. Finally, (iv) the development of a decision model for selecting patterns and strategies for successful implementation of the microservices system.