A recent report published by Infinium Global Research on the serverless architecture market provides an in-depth analysis of segments and sub-segments in the global as well as regional serverless architecture market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional serverless architecture market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global serverless architecture market. According to the report, the global serverless architecture market is projected to grow at a CAGR of 27.8% over the forecast period of 2021-2027.
The serverless architecture market was valued at USD 9.71 billion in 2021 and is anticipated to reach USD 42.38 billion in 2027, growing with a CAGR of 27.33% during the projection period. Serverless architecture is an architecture wherein the user can build and run applications and services without the necessity of managing infrastructure. Generally, the server management is done by AWS and this is how applications run on servers. Furthermore, by using a serverless architecture the user no longer has to endowment, scale, and maintain servers to run applications, databases, and storage systems. The developers can concentrate on their core product in its place of stressing about managing and operating servers or runtimes. Such architectures can be deployed on both, cloud along on-premises. Owing to this reduced overhead, the developers can reclaim time and energy and spend them on developing great products that are reliable.
The rise in the adoption of cloud-based applications is a vital factor accelerating the market growth, also an upsurge in the demand to eliminate management of servers is the major factor boosting the serverless architecture market. Furthermore, the increase in app development, growth in the demand and adoption of cloud-based applications, upsurge in the powerful advantage to streamline operations, and increase in the digital-centric business model is the major factors heightening the serverless architecture market. In addition, an increase in the usage of edge computing with the serverless, a rise in the emergence of IoT applications, and a rise in the research and development activities in the market will further create novel opportunities for the serverless architecture market in the projection period. Nevertheless, an increase in the problems related to security and rises in architectural and operation issues are the major factors limiting the market growth, while cost-efficiency for long-running computation will further challenge the serverless architecture market during the forecast period.
Among the geographies, the North American region is expected to hold the largest share in the global serverless architecture market owing to the presence of numerous key players in the region. Furthermore, due to the presence of economically and technologically advanced countries such as the United States and Canada, the adoption of Industry 4.0, and evolving technologies, are projected to bolster the market growth over the projection period. On the other hand, the Asia Pacific region is anticipated to grow with the fastest CAGR in the serverless architecture market during the forecast period. The Asia Pacific consists of the fastest-growing markets such as China, and India and technologically advanced countries such as Japan and Australia. The region is estimated to gain traction in the serverless architecture market, on account of benefits such as reduction in maintenance costs and no involvement of physical infrastructure.
The report on global serverless architecture market covers segments such as service types, deployment mode, enterprise size, and verticals. On the basis of service types, the sub-markets include automation and integration, monitoring, API management, security, analytics, design and consulting, and others. On the basis of deployment mode, the sub-markets include public cloud, and private cloud. On the basis of enterprise size, the sub-markets include large enterprises, and SMEs. On the basis of verticals, the sub-markets include BFSI, telecommunications and it, retail and ecommerce, healthcare and life sciences, government and public sector, media and entertainment, and others.
The report provides profiles of the companies in the market such as Alphabet Inc., Amazon Web Services, Inc., Asseco Denmark A/S, Capgemini SE, Cloudflare, Digital Ocean, LLC, Dynatrace LLC, Hexaware Technologies, IBM Corporation, and Microsoft Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of serverless architecture market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.