Serverless Architecture Market size worth $ 36.84 Billion, Globally, by 2028 at 21.71% CAGR: Verified Market Research®

JERSEY CITY, N.J., Feb. 10, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Serverless Architecture Market” By Organization Size (Small And Medium-Sized Enterprises, Large Enterprises), By Industry (IT And Telecommunications, Retail And E-commerce, Healthcare And Life Sciences, Government And Public Sector), and By Geography. According to Verified Market Research, the Global Serverless Architecture Market size was valued at USD 7.29 Billion in 2020 and is projected to reach USD 36.84 Billion by 2028, growing at a CAGR of 21.71% from 2021 to 2028.

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Global Serverless Architecture Market Overview

Growing awareness about the benefits of serverless architecture, such as improved process agility and less operational cost, is one of Moreover, from a developer’s view, benefits such as faster setup, easier operational management, and zero system administration facilitate their applications are the primary drivers for the market growth of the Serverless Architecture Market. The development of cloud-based technologies and third-party agents to manage server components. With the adoption of serverless architecture, organizations can annihilate expensive traditional, and time-consuming processes such as purchasing new hardware components, installing, configuring, and troubleshooting. It moves the burden of managing servers, databases, and application logic, facilitating configuration and supervision costs.

Advances in computing technology help organizations integrate serverless environments. The market is changing due to the proliferation of artificial intelligence, machine learning, and IoT. In the fast technological shift, enterprises are under increasing stress to release new developments and features and reduce time-to-market to meet consumer expectations. Serverless architecture has appeared to be an extreme step in leveraging cloud-based technologies to their maximum potential. It allows enterprises to focus on their core products and services rather than managing a load of traffic on their IT infrastructure. Therefore, a user can run an application on a third-party server and decrease deployment time.

There have been significant innovations in the enterprise IT space, which have allowed business skills, enhanced resiliency, and obsessional cost-effectiveness. Serverless computing has appeared as a critical component for deploying cloud services and applications in such a landscape. The traditional cloud Infrastructure-as-a-Service model for designing functionality that produces credit score checks for mobile users as a mobile banking application could take days or weeks to build, test, and provide the functionality. Yet, serverless computing such as AWS Lambda can design the exact functionality in a few hours.

Key Developments in Serverless Architecture Market

  • On April 2018, Google LLC launched a new version of cloud function for Firebase SDK to enhance debugging, implementation, and management functions in an application.
  • On April 2020, Amazon Web Services launched Fargate 1.4. It is an update to its serverless container platform that adds support for shared Elastic File System storage and removes the use of Docker Engine. This update makes it easy to run stateful workloads in container applications.
  • On March 2021, Alibaba Cloud launched its first personal cloud product, challenging Baidu and Tencent. The service, by Alibaba Cloud, offers users up to two terabytes of free storage and ‘unlimited’ uploading and downloading speeds.

Key Players

The major players in the market are Amazon Web Services (AWS), Microsoft, Rackspace, Google, Oracle, CA Technologies, IBM, Alibaba, Tibco Software, and Platform9.

Verified Market Research has segmented the Global Serverless Architecture Market On the basis of Organization Size, Industry, and Geography.

  • Serverless Architecture Market, By Organization Size
    • Small And Medium-Sized Enterprises
    • Large Enterprises
  • Serverless Architecture Market, By Industry
    • IT And Telecommunications
    • Retail And E-commerce
    • Healthcare And Life Sciences
    • Government And Public Sector
    • Manufacturing
    • Media And Entertainment
    • Others
  • Serverless Architecture Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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