According to the latest report by IMARC Group, title “Serverless Architecture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global serverless architecture market size reached a value of US$ 9.02 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 25.65 Billion by 2027, exhibiting a CAGR of 18.20% during 2022-2027.
Serverless architecture is a software design technique that allows developers to create and perform services without operating the underlying infrastructure. It involves various functions, such as monitoring, API management, security, analytics, automation and integration, etc. Serverless architecture also assists in writing and deploying codes, while a cloud provider conditions servers to execute the databases, applications, and storage systems. It minimizes the cost of DevOps and enables developers to design and enhance their apps without being limited by server capacity. As a result, serverless architecture finds widespread applications across several sectors, including healthcare, manufacturing, information technology (IT), telecommunications, media and entertainment, retail, e-commerce, etc.
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Serverless Architecture Market Trends:
The escalating utilization of cloud-based applications for storing, accessing, and retrieving files from web-enabled interfaces is primarily driving the serverless architecture market. Besides this, the rising awareness towards the benefits of streamlining operations, such as improved productivity and communication, raised cost efficiency, better time management, and reduced risk, is further augmenting the serverless architecture market growth. Moreover, the growing popularity of serverless architecture among various organizations to eliminate traditional and time-consuming approaches, including installing, configuring, purchasing new hardware components, and troubleshooting, is also catalyzing the global market. Apart from this, the development of innovative apps that provide information, services, and processes in real-time and the increasing digital-centric business models across countries are expected to bolster the serverless architecture market in the coming years.
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Service Type:
- Automation and Integration
- API Management
- Design and Consulting
Breakup by Deployment Model:
- Public Cloud
- Private Cloud
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- IT and Telecom
- Media and Entertainment
- Public Sector
- Retail and E-Commerce
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Amazon Web Services (AWS) (Amazon.com Inc.), Broadcom Inc., Cloudflare, Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft, Oracle, Platform9 Systems Inc., Serverless Inc., Tibco Software Inc. and Twilio.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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