The size of the worldwide serverless architecture market was estimated at USD 3.3 billion in 2022 and is expected to expand at a Compound Annual Growth Rate (CAGR) of 34.1% to reach USD 14.4 billion by 2032. The growing need for application modernization and digital transformation is driving considerable growth in the worldwide serverless architecture market. Developers may concentrate on writing and delivering code as serverless architecture eliminates the requirement for server administration while creating and executing apps. This lowers operating expenses and does away with the requirement for upfront hardware purchases, making it a desirable choice for companies of all sizes.
The market for serverless architecture is being driven, in part, by the increasing use of cloud-based services. Serverless computing services are becoming more widely available via cloud providers, which facilitates corporate adoption of this technology. The acceptance of serverless architecture is also being fueled by the growth of Internet of Things (IoT) devices and the rising need for real-time data processing. The growing popularity of microservices architecture and the growing need for event-driven computing present opportunities in the serverless architecture industry.
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Serverless Architecture Market Segmentation
By Service Type
- Automation and Integration
- API Management
- Support and Maintenance
- Training and Consulting
Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
- Amazon Web Services
- Google LLC
- Microsoft Corporation
- Oracle Corporation
- IBM Corporation
- Alibaba Cloud
- Salesforce.com, Inc.
- Rackspace Technology, Inc.
- Huawei Technologies Co., Ltd.
- Joyent, Inc.
- Twilio Inc.
- Auth0, Inc.
- DigitalOcean, Inc.
- Iron.io Inc.
- Nimbella Inc.
Application Outlook
The serverless architecture market has been divided into segments based on applications, including finance, data analytics, customer relationship management (CRM), and others. Over the course of the projection period, the CRM category is anticipated to increase at the fastest rate. A study found that 37% of serverless architecture is employed in CRM software. CRM software built on serverless architecture is being used by many companies to improve customer service, boost productivity, and retain customers. The category is growing as a result of several causes.
Throughout the projection period, a consistent rate of revenue growth is anticipated for the data analytics category. In data analytics applications including data gathering, processing, merging, and forecasting, serverless architecture is frequently employed. A study found that 36% of serverless architecture is employed in applications related to data analytics. A user does not need to understand how to operate and manage infrastructure in order to build and deploy code thanks to serverless architecture in data analytics.
Over the projection period, the finance segment is anticipated to see a modest rate of revenue growth. In the financial industry, serverless architecture is utilized in cloud-provider-managed services and always-on banking services a service models for storage. Financial services firms may reduce operating expenses and enable new services and operations to deploy more quickly and securely by implementing the serverless architecture.
Market Trend
- The development of new goods, services, and business models has been tremendously expedited by the digital age. Businesses must provide new services and goods that live up to the rising expectations of their customers. In addition to lowering total infrastructure costs, serverless architecture provides SMEs with a number of flexible benefits.
- Enterprise IT has seen significant developments that have increased resilience and allowed for business agility, which have contributed to cost efficiency. In these kinds of situations, serverless computing has become an essential component for implementing cloud services and apps throughout the dynamic corporate landscape.
- Furthermore, professional service computing has used hybrid and multi-cloud more recently. Using a hybrid cloud, for instance, allows a business to free up local resources for more sensitive data or apps without having to pay a huge amount of money to handle a brief spike in demand.
- Furthermore, the separation between development and operations is becoming increasingly hazy due to the rise of serverless computing and microservices, which is drastically altering DevOps. It is intended for organizations to grow quickly in providing improved features through their offerings of goods and services, increasing their business values in the process.
- Businesses are also shifting to cloud services, which intensifies the rivalry already in place. Nonetheless, cloud service providers and customers continue to have serious security concerns, and they constantly collaborate with cybersecurity firms to lower the risk of cyberattacks.
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