Dublin, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The "Serverless Computing Market by Service Model (Function as a Service, Backend as a Service), Compute (Functions, Containers), Database (Relational, Non-Relational), Storage, Application Integration, Monitoring & Security - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The serverless computing market is expected to grow from USD 21.9 billion in 2024 to USD 44.7 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 15.3%
The report will aid the market leaders/new entrants in the following: Details regarding the closest approximations of the revenue numbers for the serverless computing market and its subsegments. This study will aid the stakeholders in understanding the competitive landscape; it gives more insights to position their businesses better and plan suitable go-to-market strategies. It also helps the stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
As artificial intelligence (AI) and machine learning integration rise within serverless computing platforms, this increases application development and deployment efficiency.
AI-driven tools will automate resource allocation, optimize performance, and monitor applications. This reduces the time and effort needed to manage serverless environments. Machine learning algorithms increase the accuracy and relevance of real-time data processing to enable organizations to make informed decisions and optimize their application outcomes. This automation simplifies the development process, aligns it further with strategic goals, and ensures high-quality results, which drives success across the board for the entire serverless infrastructure.
Major companies offering serverless computing solutions and services are AWS (US), Microsoft (US), Google (US), IBM (US), Oracle (US), Alibaba Cloud (China), Tencent Cloud (China), DigitalOcean (US), Twilio (US), Cloudflare (US), MongoDB (US).
As per service type, application integration will grow at the highest CAGR during the forecast period.
Application integration in the serverless computing market involves various services that aim to enable smooth communication between different systems and applications. This covers event-driven services that react to specific events or triggers, allowing for instant processing and automation of workflows; messaging services that manage message exchange between various applications or services, ensuring dependable and asynchronous communication; and API management, which offers tools for creating, deploying, and overseeing APIs that facilitate interaction between applications and third-party services.
These integration services are scalable and fully managed, supporting intricate, distributed architectures and streamlining the development of interconnected applications. Companies can simplify processes, improve adaptability, and attain higher productivity within their serverless setups using these services.
As per the deployment model segment, public cloud will hold the largest share during the forecast period.
Serverless computing relies on the public cloud deployment type, which features a communal infrastructure overseen by third-party cloud service providers like AWS, Microsoft Azure, and Google Cloud Platform. This model provides instant serverless resource access, such as computing power, storage, and services, without requiring organizations to handle physical servers or infrastructure.
Public cloud serverless solutions are lauded for their ability to automatically scale according to workload needs and their cost-efficiency, billing users solely for the resources they utilize through a pay-as-you-go pricing structure. Moreover, this deployment strategy takes advantage of the cloud provider's robust security measures, compliance certifications, and numerous global data centers. This enables businesses to quickly and efficiently deploy and expand applications while trusting the provider to manage infrastructure and security.
As per organization size, the small enterprises will grow with the highest CAGR during the forecast period.
Small businesses are turning to serverless solutions to address the issues linked to traditional infrastructure management. By using serverless computing, these firms can avoid the difficulties and expenses associated with configuring, updating, and expanding physical servers. The pay-as-you-go pricing model allows small businesses to minimize operational costs by paying only for their computing resources, thereby decreasing initial financial commitments.
This adaptability allows for quick deployment of applications and will enable companies to adjust the size of their operations as their needs change. Serverless platforms also offer essential functionalities such as automatic scalability and integrated security, which are especially advantageous for small businesses with limited IT resources. These benefits enable small companies to rapidly innovate, present fresh concepts, and efficiently challenge bigger competitors in their sector without the limitations of conventional infrastructure.
The report provides insights on the following pointers:
- Analysis of critical drivers (Increasing technological advancements, ongoing innovation in development tools and frameworks, future of microservices lies in serverless and function-as-a-service, increasing number of verticals utilizing distributed workloads, shift from DevOps to serverless computing), restraints (Loss of control over the infrastructure, risk of vendor lock-in), opportunities (Microservice-based deployment, serverless backends in mobile and web development, increasing number of verticals utilizing distributed workloads), and challenges (Issues with third-party services, architectural and operational complexity, cost-efficiency for long-running computation) influencing the growth of the serverless computing market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the serverless computing market.
- Market Development: In-depth understanding of upcoming technologies, research & development efforts, and new product & service releases in the serverless computing market.
- Market Diversification: Comprehensive details on the latest products & services, unexplored regions, recent advancements, and investments in the serverless computing market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 283 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $21.9 Billion |
| Forecasted Market Value (USD) by 2029 | $44.7 Billion |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
Companies Featured
- Aws
- Microsoft
- IBM
- Oracle
- Alibaba Cloud
- Tencent Cloud
- Twilio
- Cloudflare
- Mongodb
- Netlify
- Fastly
- Akamai
- Digitalocean
- Datadog
- Vercel
- Spot by Netapp
- Elastic
- Vmware
- Backendless
- Faunadb
- Scaleway
- 8Base
- Supabase
- Appwrite
For more information about this report visit https://www.researchandmarkets.com/r/mpex0p
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