Revolutionizing the Tech Landscape: Serverless Apps Market Witnesses Exponential Growth

In 2022, it is predicted that the serverless apps market would generate US$ 9,745.2 Million in sales. The serverless apps market is anticipated to develop at a CAGR of 23.4% from 2022 to 2032, reaching US$ 80,005.3 Million.

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What is Driving Demand for Serverless Apps?

Serverless apps market is majorly driven by rapid app development, move from DevOps to serverless computing, and increasing need to eradicate management of servers. Moreover, benefits such improved scalability and cost-efficiency of serverless apps are positively impacting the market growth.

Also, continuous rise in the adoption of cloud technologies and the development of serverless computing in increasing IoT landscape are anticipated to give lucrative opportunities for the global market.

By adopting serverless apps, organizations can efficiently eliminate expensive traditional and time-consuming approaches. It helps in shifting the responsibility of managing servers, application logic, and databases, which eliminates set-up and maintenance costs.

BFSI is Expected to Hold the Largest Share of the Serverless Apps Market by End-User

On the basis of end-user, the market for serverless apps is segmented into BFSI, government & public, healthcare & life sciences, manufacturing, media & entertainment, retail & ecommerce, telecom & IT, and others. The banking, financial services, and insurance (BFSI) segment dominated the market in 2020 and is expected to grow with the same pace during the forecast period.

Major companies in the BFSI vertical have a substantial user base, deployment of serverless apps has allowed enterprises in auto-scaling to highly variable or an unpredictable demand and resulted in benefitting by handling a variety of functions.

This further helps in optimizing the bank workflow, offers quick responses, and upsurges customer satisfaction. As banks focus on enhancing the customer services by innovative technologies, serverless apps has reduced developer's operational burden and improved performance and overall productivity.

North America Serverless Apps Demand Outlook

North America is one of the largest markets for serverless apps across the globe. The growth is majorly attributed to the presence of the major players in the region. U.S. is the major contributor to the regional market. It has further strengthened the market with industries such as manufacturing, BFSI, retail, healthcare, boosting of a large user base.

Enterprises are continuously innovating and adopting new technologies and delivering to new features to stay competitive in the market. Additionally, North America happens to be the most rapidly changing and competitive market across the globe. Also, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries across the globe.

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Asia Pacific Demand Outlook for Sever less Apps

Asia Pacific is accounted the highest CAGR and is anticipated to grow with the same pace in the upcoming years. Traditional IT infrastructure in the industries like retail, manufacturing, and BFSI are gradually shifting toward automation, which is positively influencing the market growth.

With the adoption of new cloud-based technologies, serverless apps is composed to witness substantial growth during the forecast period. Also, growing investments in digital transformation to eliminate the operational costs is predicted to be a major factor driving the market in Asia Pacific.

Who are the Key Manufacturers and Suppliers of Sever less Apps?

Some of the leading players of sever less apps market are

-Amazon Web Services Inc.
-CA Technologies
-Alibaba Cloud
-Dynatrace
-Galactic Fog IP Inc.
-Fiorano Software Inc.
-Google LLC
-Joyent Inc.
-IBM Corporation
-Microsoft Corporation
-Twistlock.
-Key Segments

By Services:

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

By Enterprise Size:

Large Enterprise
SME

By End-User:

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

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.