Serverless Architecture Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Serverless Architecture Market


The global Serverless Architecture market size is projected to reach US$ 25.13 billion by 2026, from US$ 6.28 billion in 2020, at a CAGR of 26% during 2021-2026. Rising awareness regarding benefits of serverless architecture such as increased process agility and reduced operational cost is one of the primary growth stimulants for the market. Moreover, from a developer perspective, benefits such as faster set up, easier operational management, and zero system administration are boosting their applications. Furthermore, emergence of cloud-based technologies along with third-party vendors to manage server component is likely to stoke the growth of the market.

With the adoption of serverless architecture, organizations can effectively eliminate expensive traditional and time-consuming approaches such as purchasing new hardware component, installing, configuring, and troubleshooting. It shifts the responsibility of managing servers, databases, and application logic, which reduces set-up and maintenance costs. Advancements in computing technology are enabling organizations to incorporate serverless environment, thereby augmenting the market.

Market dynamics are continuously changing owing to proliferation of artificial intelligence, machine learning, and IoT, among others. In this rapid technological shift, companies are under increasing pressure to release new products and features as well as reduce time-to-market to meet the exponentially growing consumer expectations. Increasing prominence of such trends is projected to work in favor of the market.

Serverless architecture has emerged as a revolutionary step in leveraging cloud-based technologies to their full potential. It is enabling enterprises to focus on their core products and services, instead of managing a load of traffic on their IT infrastructure. Thus, a user can run an application on a third-party server and reduce deployment time.
Over the past few years, there have been significant innovations in the enterprise IT space, which has enabled business agility, improved resiliency, and driven cost effectiveness. In such landscape, serverless computing has emerged as a vital element for deployment of cloud services and applications. For instance, use of traditional cloud Infrastructure-as-a-Service model to develop a functionality that returns credit score check for mobile users as a part of mobile banking application could take up days or weeks for developing, testing, and delivering the functionality. However, with serverless computing such as AWS Lambda, same functionality can be developed in a few hours.

Market Segmentation, Outlook & Viewpoint: Global Serverless Architecture Market

Service Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Automation and Integration
  
API Management
  
Monitoring
  
Security
  
Support and Maintenance
  
Training and Consulting
  
Others

Organization Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Large Enterprises
  
SME

Vertical Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
BFSI
  
Government & Public
  
Healthcare & Life Sciences
  
Manufacturing
  
Media & Entertainment
  
Retail & Ecommerce
  
Telecom & IT
  
Others

Key Players, Recent Developments & Regional Insights: Global Serverless Architecture Market

The banking, financial services, and insurance (BFSI) segment dominated the market in 2017 and is anticipated to retain its lead over the forecast period. As most companies in the BFSI vertical have a substantial user base, deployment of serverless architecture has enabled enterprises in auto-scaling to an unpredictable or highly variable demand and has facilitated in handling a variety of functions.

This helps optimize bank workflow, provides quick responses, and increases customer satisfaction. As banks focus on improving customer services with the help of innovative technologies, serverless architecture has reduced developers operational burden and enhanced productivity and performance.

Regional Insights

North America dominated the global market with a revenue share of 42.09% in 2017. Presence of prominent players in U.S. has strengthened the regional market, with industries such as BFSI, manufacturing, healthcare, and retail boasting of a large user base. Thus, to remain competitive in the dynamic market and deliver new features and products quickly, enterprises are constantly innovating and adopting new technologies. This has allowed the North America market to grow at a rapid pace.

Asia Pacific is anticipated to present significant opportunities and exhibit the highest CAGR of 29.7% over the forecast period. Traditional IT infrastructure within industries such as manufacturing, retail, and BFSI are increasingly shifting toward automation. With implementation of new cloud-based technologies, serverless architecture is poised to witness significant growth over the forecast period. Besides this, increasing investments in digital transformation to reduce operation costs is anticipated to be a potential factor driving the APAC market.

Serverless Architecture Market Share Insights

The market is highly competitive and was dominated by Amazon Web Services Inc. in 2017. Various businesses are moving toward cloud services, adding to the existing competition. However, security still remains a major concern among adopters and cloud service providers are continuously working with cybersecurity vendors to negate these concerns and reduce any risk of cyber-attacks.

Major participants in the market include Amazon Web Services, Inc.; Alibaba Cloud; CA Technologies; Dynatrace; Fiorano Software, Inc.; Galactic Fog IP, Inc.; Google LLC; IBM Corporation; Joyent Inc.; Microsoft Corporation; ModuBiz Ltd.; Manjrasoft Pty Ltd.; NTT Data; Oracle Corporation; Platform9 Systems, Inc.; Realm; Rackspace Inc.; StdLib; Snyk Ltd.; SixSq; TIBCO Software Inc.; Tarams Technologies; and Twistlock.

Key Insights Covered: Global Serverless Architecture Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Serverless Architecture industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Serverless Architecture industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Serverless Architecture industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Serverless Architecture industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Serverless Architecture industry.

Research Methodology: Global Serverless Architecture Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other