The global Serverless Computing Market is projected to register a CAGR of over 23.17% during the forecast period 2022 to 2030.
Serverless Computing Market Overview:
Also known as Functions as a Service (FaaS), serverless computing is a cloud infrastructure that manages all server operations and maintenance. Cloud-based services such as Azure Functions, Google Cloud Functions, and AWS Lambda enable developers to focus on core application development logic rather than managing server infrastructure. Serverless computing architectures are favored by the industry for their ability to increase agility and scalability. The ability to eliminate infrastructure management tasks, operating system maintenance, capacity provisioning, and patching is expected to drive the growth of the serverless computing market. In the market, cloud-based microservices architecture is expected to gain widespread adoption compared to local serverless computing models. The popularity of consistent serverless computing models is increasing daily, which is expected to boost the growth of the market. This architecture supports the rapid adoption of serverless computing because it reduces setup and maintenance costs as the responsibility for managing databases and servers is shifted. Nonetheless, unconditional node deployment and built-in scalability thus expand the serverless computing market. Most of the major players are focusing on product development that shortens the time by adopting advanced technologies, which is expected to drive the growth of the serverless computing market.
Serverless Computing market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Serverless Computing market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Serverless Computing market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Serverless Computing Market Dynamics and Growth Factors:
Advances in computing innovation have enabled the association to incorporate serverless environments, thereby expanding the market. Advantages of serverless computing, such as real transformation of events and arrangements, and inherent adaptability, etc., have played an important role in supporting the rapid acceptance of serverless computing, thereby driving the market.
With the adoption of a serverless design, enterprises can substantially eliminate the costly traditional tedious approach of purchasing new equipment parts, introducing, deploying, and investigating, shifting the obligation to oversee staff, data sets, and application rationale, thereby reducing setup and support expenses.
Industry News and Key Developments
- June 2021, Alibaba Cloud, has launched an initiative aimed at investing an initial US$1 billion of funding and resources to empower 100,000 developers and foster the growth of 100,000 tech startups in Asia Pacific over the next three years.
- March 2021, Alibaba Cloud launches its first personal cloud product, challenging Baidu and Tencent. China’s personal cloud service market, which had 404 million users last year, continues to grow amid a rapid uptake of online services by consumers, and the service, by Alibaba Cloud, offers users up to two terabytes of free storage and ‘unlimited’ uploading and downloading speeds.
Top Key Players include in the Serverless Computing Market are
Amazon Web Services (AWS), Google, IBM, Microsoft, Oracle, CA Technologies, Rackspace, Alibaba, Tibco Software, Platform9, Syncano, NTT Data, Joyent, Iron.io, Stdlib, Realm, Galactic Fog Ip Inc, Modubiz, Tarams Software Technologies, Snyk, Dynatrace, Fior, and others.
The Serverless Computing market research report is categorized based on type, applications and region.
On the Basis of Type:
- Private Cloud
- Public Cloud
On the Basis of Application:
- Telecommunications and IT
- Retail and eCommerce
- Healthcare and Life Sciences
- Government and Public Sector
- Media and Entertainment
On the Basis of Region:
Geographically, the global Serverless Computing market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Serverless Computing region is dominating this market in the upcoming future.
The market is dominated by North America, and this is likely to continue owing to the increasing adoption of cloud computing services by enterprises. This can be deduced from the rapid pace of innovation and the presence of different well-known players in industries such as retail, BFSI, assembly, healthcare services, and IT & telecom, which have large local customer bases. They are constantly evolving and embracing new advancements, thus satisfying market interest across the region due to businesses’ high digitization and acceptance of new distributed computing management, remaining serious in the electricity market and rapidly delivering new regulations and projects.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Serverless Computing Market report scope
What is the CAGR of the global Serverless Computing market?
The Serverless Computing Market is growing at a CAGR of 23.17% During the Forecast Period.
Which region would offer high growth for vendors in the Serverless Computing market?
The market is dominated by North America
Which Is the Most potential market segment?
By Types- Private Cloud, Public Cloud
By Applications - BFSI, Telecommunications and IT, Retail and eCommerce, Healthcare and Life Sciences, Government and Public Sector, Manufacturing, Media and Entertainment, Others
Which are the top industry players in the market?
Amazon Web Services (AWS), Google, IBM, Microsoft, Oracle, CA Technologies, Rackspace, Alibaba, Tibco Software, Platform9, Syncano, NTT Data, Joyent, Iron.io, Stdlib, Realm, Galactic Fog Ip Inc, Modubiz, Tarams Software Technologies, Snyk, Dynatrace, Fior