Serverless Architecture Market to Grow at a CAGR of 26.39% Through 2027
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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