Market Analysis
Market Research Future (MRFR) presumes the global serverless architecture market to witness a robust growth rate from 2020 to 2027 (forecast period). The market is expecting 27.0 bn with 19.7% CAGR by 2030
Rising Adoption of Cloud Computing
Over the projected period, the Serverless Architecture market is expected to grow at a rapid pace. The serverless architecture uses the cloud to provide scalable IT infrastructure for businesses of all sizes. Serverless architecture, which is predominantly used in enterprise IT, is in great demand due to the numerous benefits it provides consumers. One of the market’s most important drivers is the rising need to manage and minimize infrastructure expenses.
The serverless architecture market’s revenue has increased due to the increasing popularity of cloud computing. Enterprise IT services have transformed operational efficiency. The use of serverless architecture eliminates the requirement for costly physical infrastructure. Deployment of managed services and others, such as software and functions, is simple and straightforward to manage with serverless architecture, fueling growth. Adoption has been aided by increased awareness of cloud technology and serverless architecture. Furthermore, due to the tremendous scalability that serverless architecture provides, small and medium-sized businesses can now embrace IT services that were previously only available to large corporations.
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Key Players
Rackspace Inc., Microsoft Corporation, IBM Corporation, CA Technologies, Dell Boomi Inc., Joyent Inc., Platform9 Systems Inc., Amazon Web Services Inc., Manjrasoft Pty Ltd., Alibaba Cloud, Twistlock, Fiorano Software Inc., TIBCO Software Inc., Oracle Corporation, Google LLC and others.
Market Segmentation
The global serverless architecture industry has been segmented into services, organization size, and industry verticals.
On the basis of services, the global serverless architecture market has been segmented into monitoring, API management, automation & integration, security, support & maintenance, training & consulting, analytics, others.
On the basis of organization size, the global serverless architecture market has been segmented into small & medium enterprises and large enterprises.
On the basis of industry vertical, the global serverless architecture market has been segmented into BFSI, manufacturing, telecommunication & IT, retail & eCommerce, healthcare, government, media & entertainment, transport & logistics, energy & utilities, and others.
Regional Analysis
North America to Dominate the Global Market
Due to the existence of economically and technologically advanced countries such as the United States and Canada, as well as the adoption of Industry 4.0 and developing technologies, North America is predicted to account for the biggest market size throughout the projection period.
APAC to Witness the Fastest Growth
Due to factors such as increased IT modernization in well-established telecommunication sectors in countries such as China, India, and Japan, Asia Pacific is predicted to experience the greatest growth rate throughout the market projection period. Furthermore, an increase in IoT-based device usage in countries such as Taiwan and South Korea is likely to give lucrative prospects for serverless architecture market expansion during the projection period.
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Industry News
In April 2020, Amazon Web Services released Fargate 1.4. It is a serverless container platform upgrade that adds support for shared Elastic File System storage and removes the usage of Docker Engine. This improvement simplifies the execution of stateful workloads in container apps.
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