Rapid development of applications, rise in demand for reducing server management, and the transition from DevOps to serverless computing are the major drivers of the global serverless architecture market. Additionally, a number of advantages, including improved scalability and cost-efficiency of serverless architecture are expected to drive the global serverless architecture market through the forecast period.
According to TechSci Research report, “Serverless Architecture Market – Global Industry Size, Share, Trends, Competition, Forecast & Opportunities, 2017- 2027F”, the Global Serverless Architecture Market stood at USD 7723.25 million in 2021 and is expected to register a CAGR of 26.39% to reach USD31643.75 million by 2027. The market is primarily driven by the rise in application development and deployments via cloud infrastructure for increased agility, as well as the development and testing of serverless architecture. Moreover, use cases including media & log processing, IT automation, and IoT backends are boosting the growth of serverless architecture in the entire sector. However, lack of awareness about security risks and the high cost of software up-gradation may restrain the global serverless architecture market growth during the forecast period.
Browse over 143 market data Figures spread through 110 Pages and an in-depth TOC on "Global Serverless Architecture Market"
The global serverless architecture market is segmented into type, deployment model, organization size, end-user, regional distribution, and competitive landscape.
Based on type, the global serverless architecture market is divided into automation & integration services, monitoring services, API management services, Security, and Support & Maintenance . The monitoring services are expected to be the fastest growing segment by 2027, the segment is growing with the CAGR of 26.95% in the forecast period. Maintaining stability and protecting operations depend heavily on monitoring. An efficient tracking program notifies users of errors before they have an impact on clients, making it easier to fix them and maintaining a high level of service for application users is expected to fuel the segment demand.
Based on deployment model, the global serverless architecture market is bifurcated into public cloud and private cloud. The public cloud segment dominated the market in 2021 and held a share of 70.24%. Public cloud provides storage and application accessibility to multiple users over the internet. Depending on the needs of end customers, it is a common model that provides free or on a pay-per-use basis. The public cloud deployment option is frequently selected by businesses with less regulatory restrictions since it provides numerous advantages to businesses, including scalability, reliability, flexibility, and remote location access driving the market growth.
Based on the end-user, the market is divided into telecommunications & IT, BFSI, healthcare, retail & E-commerce, manufacturing, media & entertainment, and others. Telecommunications & IT dominated the market with a market share of 25.58% in 2021. The majority of IT & telecom firms have started implementing serverless computing solutions as a result of their potential advantages, following the widespread acceptance of virtualization. Due to the significant adoption of this technology to reduce excessive IT infrastructure costs and deliver rapid deployment and innovative services, which fuels the growth of the serverless architecture market, the IT & telecom segment is anticipated to hold the largest share of the serverless architecture market, which is expected to bolster the growth of the global serverless architecture market over the forecast period.
Major market players operating in the global serverless architecture market are:
- Amazon Web Services
- Microsoft Corporation
- Google LLC
- IBM Corporation
- Alibaba Group
- Oracle Corporation
- TIBCO Software Inc.
- Rackspace, Inc.
- Twilio, Inc.
- Platform9 Systems, Inc.
- Dell Technologies Inc.
- Cloudflare, Inc.
- DigitalOcean, Inc.
- Dynatrace, Inc.
- Nimbella, Inc.
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“The North America region dominated the global serverless architecture market in 2021 and held 31.74% of the overall market share. Public cloud is used by North American enterprises and its use is rising quickly. Additionally, serverless architecture contributes to economic growth more quickly, allowing businesses to innovate more rapidly. This is the main factor boosting the market in this region. One of the key factors driving the market growth in North America is the expansion of serverless products by leading industry players such as Google, Amazon, and Microsoft. The demand for scalable and affordable computing is also rising, which is accelerating market expansion in this region “said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Serverless Architecture Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027 Segmented By Type (Automation & Integration Services, Monitoring Services, API Management Services, Security & Maintenance), By Deployment Model (Public Cloud, Private Cloud), By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises), By End User (Telecommunications & IT, BFSI, Healthcare, Retail & Ecommerce, Manufacturing, Media & Entertainment, Others) and By Region”, has evaluated the future growth potential of the global serverless architecture market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global serverless architecture market.
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