Serverless Architecture Market Set to Reach $41.14 Billion by 2029 with 23.2% Yearly Growth

Which drivers are expected to have the greatest impact on the over the serverless architecture market's growth?
The surge in demand for serverless computing to support DevOps methodologies is forecasted to fuel the serverless architecture market's expansion. Serverless computing is a cloud computing model that allows developers to develop and deploy applications on externally governed Infrastructure, effectively eliminating worries about capacity planning, configurations, management, upkeep, fault tolerance or scaling of containers, virtual machines (VMs) or physical servers. Serverless cloud computing boosts DevOps processes by facilitating automatic scaling, simplifying operations, and expediting the deployment of microservices. For example, in January 2024, as per AAG IT, a UK-based IT services firm, Infrastructure as a Service (IaaS) saw a 29.7% increase in revenues, reaching $120.3 billion in 2022. Moreover, over 98% of organizations utilize cloud services, including SaaS applications and fully cloud-native networks. Predictions also point to a 23% rise in cloud infrastructure expenditure for 2023. As a result, the increasing demand for serverless computing to support DevOps methodologies is catalyzing the expansion of the serverless architecture market.

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What is the future CAGR of the serverless architecture market, and how will it impact industry expansion?
The market size of serverless architecture has impressively expanded over the past few years. The market value is expected to rise from $14.57 billion in 2024 to $17.88 billion in 2025, marking a compound annual growth rate (CAGR) of 22.8%. Factors such as the evolution in computing technology, affordability and scalability, unfettered development and deployment, doing away with conventional methods, and an increasing demand for automation and integration have all contributed to this growth during the historical period.

The market size for serverless architecture is predicted to witness an explosive increase in the coming years, reaching an estimated $41.14 billion in 2029 with a compound annual growth rate (CAGR) of 23.2%. This expansion throughout the forecasted period is credited to anticipated market size growth, segmentation and regional expansion, wider acceptance across various sectors, improved scalability and time-to-market, and growth in end-use industries. Key trends to watch during this forecast period include the adoption of digital-centric business models, advancements in computational technology, increased vertical utilization, growing adoption of DevOps, and geographical expansion and investments.

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What are the most significant trends transforming the serverless architecture market today?
Leading firms in the serverless architecture market are driving innovation by creating superior technologies like serverless solutions to better cater to their customers. A serverless solution is a type of software architecture and delivery model where the onus of managing, provisioning, and maintaining the server is fully transferred to the cloud services provider. This allows developers to concentrate on crafting code for specific functions or services, without any concerns about managing the underlying infrastructure. For example, in May 2022, Digital Ocean Holdings Inc., a technology company in the US providing cloud infrastructure, introduced a new serverless solution, Digital Ocean Functions, aimed at developers and small to medium businesses. It paves the way for developers to build or upscale their apps rapidly without the need to deal with the infrastructure. This solution provides speedy, scalable, and cost-efficient solutions, thus supporting organizations in swiftly constructing websites and mobile-based applications, scaling automatically and saving costs by avoiding payment for resources that are not in use.

Which key market segments comprise the serverless architecture market and drive its revenue growth?
The serverless architecture market covered in this report is segmented -

1) By Service: Automation And Integration, Application Programming Interfaces (APIs) Management, Monitoring, Security, Support And Maintenance, Training And Consulting, Other Services
2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization: Large Enterprise, Small And Medium-Sized Enterprises (SMEs)
4) By Application: Real-Time File And Stream Processing, Web Application Development, IoT Backend
5) By Vertical: Information Technology (IT) And Telecommunications, Banking, Financial Services And Insurance (BFSI), Retail, Healthcare, Government, Manufacturing, Media And Entertainment, Other Verticals

Subsegments:
1) By Automation And Integration: Workflow Automation, Event-Driven Automation
2) By Application Programming Interfaces (APIs) Management: API Gateway Services, API Lifecycle Management
3) By Monitoring: Performance Monitoring, Logging and Analytics
4) By Security: Access Control, Data Encryption
5) By Support And Maintenance: Technical Support, System Updates
6) By Training And Consulting: Implementation Consulting, Best Practices Training
7) By Other Services: Custom Development, Migration Services

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North America was the largest region in the serverless architecture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the serverless architecture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the serverless architecture market?
Major companies operating in the serverless architecture market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Salesforce.com Inc, NTT Data Corporation, VMware Inc, Alibaba Cloud, Palo Alto Networks Inc, Twilio Inc, Red Hat Inc, Rackspace Technology Inc, Tibco Software, Cloudflare Inc, Dynatrace Inc., Auth0 Inc, Joyent Inc, Spotinst Ltd, Fiorano Software Inc., Platform9 Systems Inc, PubNub Inc, OpenStack Foundation, Iron.io Inc, Nimbella Corporation, Stackery Inc, Computer Associates International Inc., OpenLegacy Inc

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What Is Covered In The Serverless Architecture Global Market Report?

•Market Size Forecast: Examine the serverless architecture market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the serverless architecture market for a structured understanding.
•Key Players Overview: Analyze major players in the serverless architecture market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the serverless architecture market.
•Segment Contributions: Evaluate how different segments drive overall growth in the serverless architecture market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the serverless architecture market.
•Industry Challenges: Identify potential risks and obstacles affecting the serverless architecture market.
•Competitive Landscape: Review strategic developments in the serverless architecture market, including expansions, agreements, and new product launches.

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