Serverless Architecture Market Outlook
According to a new report by Expert Market Research titled, “Serverless Architecture Market Share, Size, Analysis, Report and Forecast 2024-2032″ the global serverless architecture market reached a value of USD 6.76 billion in 2023. Aided by the elimination of the requirement to manage servers and ease of deployment, execution, and management of serverless architecture, the market is projected to further grow at a CAGR of 30% between 2024 and 2032 to reach a value of USD 27.04 billion by 2032.
Serverless architecture, commonly known as Function as a Service (FaaS), represents a cloud-computing model designed to simplify the process of deploying code into production. In this architecture, cloud providers are responsible for executing a piece of code by dynamically allocating the resources. Furthermore, developers are only charged for the actual number of resources consumed by executions, thereby eliminating any overhead costs associated with traditional infrastructure management.
The serverless architecture market growth is fuelled by the widespread corporate emphasis on rapid application development and deployment. With industries striving for agility and scalability, serverless architectures are emerging as an essential component, allowing developers to focus on core application logic rather than being caught up by infrastructure concerns. The shift towards such streamlined operations is rapidly driving the widespread adoption of serverless solutions.
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Gravitation towards integration of advanced technologies like AI, machine learning, and IoT in serverless architecture is further boosting the global serverless architecture market size. By combining serverless platforms with these cutting-edge technologies, businesses can easily handle powerful, real-time data analytics and insights without the constraints of infrastructure setup or management, thereby enhancing operational efficiency and user engagement.
Further, the proliferation of microservices globally is contributing to the serverless architecture market demand. Enterprises are progressively adopting microservices architecture for building their applications, matching perfectly with the serverless paradigm. By breaking applications into small, loosely coupled modules, developers can deploy, scale, and update components independently, leading to enhanced resilience, flexibility, and speed to market.
An in-depth serverless architecture market analysis also highlights that globally, regions such as North America and parts of Europe are ahead in the adoption of serverless frameworks. Meanwhile, the Asia-Pacific region, buoyed by its burgeoning start-up ecosystem and digital transformation initiatives, is expected to be a lucrative regional market for serverless architecture in the coming years.
As organisations transition towards a model that prioritises flexibility, scalability, and cost-efficiency, serverless solutions will excel as an integral asset, enabling businesses to navigate the digital realm with unparalleled agility.
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Serverless Architecture Market Segmentation
The market can be divided based on deployment model, organisation size, end use, and region.
Market Breakup by Deployment Model
- Private Cloud
- Public Cloud
Market Breakup by Organisation Size
- Small and Medium-Sized Enterprises
- Large Enterprises
Market Breakup by End Use
- Banking, Financial Services, and Insurance
- Telecommunications and IT
- Retail and Ecommerce
- Healthcare
- Manufacturing
- Media and Entertainment
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global serverless architecture market. Some of the major players explored in the report by Expert Market Research are as follows:
- Amazon Web Services, Inc.
- Google LLC
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Platform9 Systems, Inc.
- Serverless, Inc.
- TIBCO Software Inc.
- Alibaba Group
- Others
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