Serverless Architecture Market Consumption and Revenue Analysis by Regions, Application to 2029

Serverless Architecture Market Snapshot:

Serverless architecture is a software design pattern where applications are hosted by a third-party service, without a need of any server software. Serverless architecture is also called as serverless computing and is a type of cloud service where the hosting provider allocates adequate resources for clients. Companies need to pay for dedicated servers or capacity in advance. Serverless computing is the next-generation evolution of IaaS (Infrastructure-as-a-Service). It completely eliminates the traditional underlying infrastructure from developers and virtualizes runtime and operational management as well as the components. A serverless architecture can also be referred to as FaaS (Function-as-a-Service) that allows executing a given task with the advantages of scalability, upgrading, and adding compute resources. Hardware and software infrastructure in a serverless architecture is no longer reliant on the DevOps team. Applications can quickly, seamlessly, and automatically scale up to regulate data traffic and automatically scale down when there are fewer concurrent users as per their convenience.  

A hybrid serverless architecture means that some apps will run on AWS, others will run in the enterprise's on-premises data center, and still others across public clouds. Hybrid serverless models can expand through the data center and multi-cloud environments, giving more flexibility to the operators. The technology is anticipated to become mainstream in enterprise applications and integrate with micro-services and traditional application architectures in the near future.

Serverless architecture also facilitates easy monitoring of applications, thereby propelling the market growth. Monitoring support varies across providers and often has to be supplemented with external services. Serverless systems visibility will channel the demand into building more complex applications during the forecast period.
Replicating the serverless environment to see how code will perform once deployed and debugging errors post-deployment is a complicated task. Lack of visibility into backend processes is a prime market restraint. Cyber threats and security hacks can be a problem for applications that handle personal or sensitive data. In a serverless architecture, companies are not assigned their own discrete physical servers, rather providers run codes from several of their customers on a single server, also known as sharing machinery or 'multitenancy.' Multitenancy can expose sensitive data to hackers if the multi-tenant servers are not configured properly.

Tech giants such as Amazon, Google, Microsoft, and IBM are already offering serverless platforms, along with numerous cloud-related capabilities. For instance, in 2014, Amazon launched its AWS Lambda and witnessed an increasing trend of enterprises adopting AWS Lambda services. Jason McGee, VP & CTO of IBM Cloud, predicted that the FaaS market would grow seven times by 2021. The overall serverless architecture market will grow from a USD 1.88 billion market in 2016 to USD 7.72 billion by 2021.

GitOps is a set of practices that empowers developers to perform tasks under the purview of IT operations. The version-controlled system of DevOps, GitOps, is anticipated to grow significantly during the forecast period, especially in FaaS. Benefits such as improved operational workflows and implementation of technologies, such as Kubernetes and other cloud solutions, will attract more customers in the near future. This will enable cloud vendors to provide greater ecosystem support and tooling capabilities to the serverless architecture users

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The Major Prominent Players Covered in this Report:
Amazon, Google, Microsoft, IBM, Oracle, Alibaba, Cloudflare, NTT DATA, Rackspace, TIBCO Software, Stackpath, EnterpriseWeb, Kong, Serverless, Snyk, OpenLegacy, Innominds, Stackery, Twistlock & More.

By Service Type, Automation and Integration, Monitoring, API Management, Security, Analytics, Design and Consulting,
By Deployment Mode, Public Cloud, Private Cloud,
By Vertical, Banking, Financial Services, and Insurance, Telecommunications and IT, Retail and Ecommerce, Healthcare and Life Sciences, Government and Public Sector, Manufacturing, Media and Entertainment

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Serverless Architecture in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Serverless Architecture market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Serverless Architecture and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Serverless Architecture. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Impact of COVID-19:
Since the outbreak of the novel coronavirus, the tech industry is looking for ways of adapting to the new normal. Companies are stepping up to fight the pandemic with technological innovations. Cloud infrastructures are becoming the prime choice of businesses in all industry verticals due to the social distancing norms and shortage of laborers. Companies are rethinking their IT infrastructure. Five years ago, public cloud computing accounted for less than 5% of IT infrastructure spending, and 15% of the expenditure on software. Industry experts believe that in the next few years, the growth is expected to be further accelerated, with large organizations venturing into cloud-first strategies and many small and medium businesses getting the full value of moving the bulk of their systems to the cloud. However, confusing the migration of IT infrastructure from on-premise to serverless architecture may prove to be even more complex, cumbersome, and costly than before. Therefore, companies need to make informed decisions and plan accordingly, keeping in mind the adverse effects of corona like crisis

Key Questions Answered in The Report:
What will the Serverless Architecture market growth rate?
What are the key factors driving the global Serverless Architecture market?
Who are the key manufacturers in the Serverless Architecture market space?
What are the market opportunities, market risk, and market overview of the Serverless Architecture market?
What are sales, revenue, and price analysis of top manufacturers of the Serverless Architecture market?
Who are the distributors, traders, and dealers of the Serverless Architecture market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Serverless Architecture Industry?
What are sales, revenue, and price analysis by regions of Serverless Architecture industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Serverless Architecture Market Trends:
- The report identifies, determines, and forecasts the Global Serverless Architecture Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Serverless Architecture Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Serverless Architecture Market.

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