Serverless architecture is a process of building and running applications and services without having to manage infrastructure. It enables developers to write and deploy code while a cloud provider provisions servers to run their applications, storage systems, and databases. It allows users to save money by only paying for the servers and virtual machines they use. It also provides scalability and removes function instances automatically in response to traffic variations. It enhances the productivity of developers and enables them to spend most of their time writing and developing apps instead of dealing with servers and run times.
The global serverless architecture market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.2 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.
Serverless Architecture Market Trends and Drivers:
At present, the increasing demand for serverless architecture, as it is cost-effective and offers easy deployments, represents one of the primary factors propelling the growth of the market. In addition, the rising popularity of cloud computing to delegate routine tasks, store abundant amounts of data, and improve operational efficiency is contributing to the growth of the market. Besides this, the growing utilization of serverless architecture to eliminate the requirement of new hardware components, installation, configuration, and troubleshooting is offering a favorable market outlook. Additionally, the increasing automation of business operations to improve productivity and reduce operational costs is supporting the growth of the market.
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Global Serverless Architecture Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Amazon Web Services Inc. (Amazon.com Inc.), Broadcom Inc., Cloudflare Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Platform9 Systems Inc., Serverless Inc., Tibco Software Inc. and Twilio Inc.
The report has segmented the market on the basis of region, service type, deployment model, organization size and industry vertical.
Breakup by Service Type:
- Automation and Integration
- Monitoring
- API Management
- Security
- Analytics
- Design and Consulting
- Others
Breakup by Deployment Model:
- Public Cloud
- Private Cloud
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- BFSI
- IT and Telecom
- Healthcare
- Manufacturing
- Media and Entertainment
- Public Sector
- Retail and E-Commerce
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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