Serverless Architecture Market Valuation Worth USD 21.99 Billion by 2025, At 27.8% | Twilio, Rackspace Inc., Tibco Software

According to the report, the global serverless architecture market generated $3.01 billion in 2017, and is estimated to reach $21.99 Billion by 2025, growing at a CAGR of 27.8% from 2018 to 2025.

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A surge in the number of smartphones, an increase in BYOD adoption, a rise in number of applications, the growing shift from DevOps to serverless computing, and rising need to eliminate server management challenges have led to significant growth of the global serverless architecture market.

However, issues associated with third-party APIs restrict the market growth. On the other hand, emergence of serverless architecture applications in growing IoT landscape and growing cloud infrastructure services market would provide lucrative opportunities for the serverless architecture market.

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Based on applications, the web application development segment held nearly half of the total market share in 2017, and will maintain its dominance throughout the forecast period. This is due to serverless computing that allows the developing and running of an application without servers.

This reduces the complex procedures such as planning capacity of the application, installation of hardware, procurement, and software. However, the IoT backend segment is estimated to register the highest growth rate with a CAGR of 31.7% from 2018 to 2025, owing to growing IoT industry and increasing number of data sets associated with these connected devices.

Asia-Pacific would grow at the fastest CAGR of 31.0% from 2018 to 2025, owing to factors such as on-going IT modernization in well-established telecommunication industries and increase in adoption of IoT-based devices which are expected to provide remunerative opportunities for market.

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However, North America contributed to nearly half of the total share in 2017 and is estimated to maintain its dominance during the forecast period. This is due to growth of the app development market, well-established cloud industry, and significant adoption of serverless architecture for media processing and IoT applications.

Leading market players analyzed in the research include the Amazon Web Services, Alibaba Group, Google LLC, Oracle Corporation, Microsoft Corporation, IBM Corporation, Platform9 Systems, Inc., Twilio, Rackspace Inc., and Tibco Software.

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