Pune, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Serverless Architecture Market Size Analysis:
“The Serverless Architecture Market was valued at USD 10.21 Billion in 2023 and is projected to reach USD 78.12 Billion by 2032, growing at a compound annual growth rate (CAGR) of 25.42% from 2024 to 2032.”
Rapid Growth and Future Expansion of the Serverless Architecture Market Driven by Innovation and Cost Efficiency
The Serverless Architecture Market has rapidly grown as companies seek for affordable and scalable options to address their IT requirements. With IT services expenditure anticipated to hit USD 1.6 trillion in 2024, serverless architectures present noteworthy benefits by removing the need for conventional server administration, enabling businesses to concentrate on coding as cloud providers manage the infrastructure. Recent advancements, like Coherence's serverless deployment solutions for AWS and GCP, have further spurred this growth, allowing for simpler application deployment. As companies adopt cloud technology, serverless options offer adaptability, automatic scaling, and lowered operational expenses, fostering innovation across industries.
Looking ahead, the market is set for ongoing expansion, supported by progress in serverless technologies. Advancements such as OpenMetal's investigation of serverless computing using OpenStack and Kong’s Konnect Serverless Gateways improve functionalities. Furthermore, incorporating AI and machine learning into serverless frameworks will facilitate more self-sufficient operations, further broadening the influence of serverless architecture in edge computing and IoT industries.
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Major Players Analysis Listed in this Report are:
- Alibaba Group (Alibaba Cloud Function Compute, Alibaba Cloud API Gateway)
- Cloudflare, Inc. (Cloudflare Workers, Cloudflare Pages)
- Google (Google Cloud Functions, Google Cloud Run)
- IBM Corporation (IBM Cloud Functions, IBM Cloud Foundry)
- Microsoft (Azure Functions, Azure Logic Apps)
- NTT DATA Group Corporation (NTT Smart Data Platform, NTT Cloud Functions)
- Oracle (Oracle Functions, Oracle API Gateway)
- TIBCO Software (Cloud Software Group, Inc.) (TIBCO Cloud Integration, TIBCO Cloud Mashery)
- Amazon Web Services (AWS Lambda, Amazon API Gateway)
- Rackspace Inc (Rackspace Serverless, Rackspace Cloud)
- Salesforce.com, Inc. (Salesforce Functions, Salesforce Heroku)
- Platform9 Systems, Inc. (Platform9 Serverless Kubernetes, Platform9 Cloud Managed Kubernetes)
- OpenStack Foundation (OpenStack Functions, OpenStack Heat)
- PubNub, Inc. (PubNub Functions, PubNub Real-time Messaging)
- Spotinst Ltd. (Spotinst Functions, Spotinst Kubernetes)
- 5 Networks, Inc. (5G Serverless, 5G Edge Functions)
- DigitalOcean, Inc. (DigitalOcean Functions, DigitalOcean App Platform)
- Kong Inc. (Kong Gateway, Kong Enterprise)
- Back4App (Back4App Functions, Back4App Serverless)
- Netlify, Inc. (Netlify Functions, Netlify Edge Functions)
- Vercel Inc. (Vercel Functions, Vercel Edge Functions)
- Cisco Systems, Inc. (Cisco Cloud Functions, Cisco API Management)
- VMware, Inc. (VMware Tanzu Application Service, VMware Cloud Functions)
Serverless Architecture Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 10.21 Billion |
| Market Size by 2032 | USD 78.21 Billion |
| CAGR | CAGR of 25.42% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Seamless Integration of Serverless Architecture with Leading Cloud Services Fuels Market Growth • The Rise of Microservices and Its Synergy with Serverless Architecture in Modern Application Development |
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IT & Telecom Lead and Healthcare to Experience Fastest Growth
In 2023, the IT and Telecom sector led the Serverless Architecture Market, capturing around 26% of the revenue share. This dominance is fueled by the rising need for scalable, affordable solutions to handle extensive data quantities, enable swift application development, and enhance resource distribution. Serverless architecture enables IT and telecom companies to handle variable workloads, lower infrastructure expenses, and accelerate time-to-market, rendering it a desirable choice for the sector.
The Healthcare segment, on the other hand, is set to experience the fastest growth, with a projected CAGR of 29.07% from 2024 to 2032. This growth is fueled by the rising need for cloud-based healthcare solutions, as well as the demand for scalable infrastructure to manage sensitive patient data. Serverless architecture provides the necessary agility, cost-efficiency, and enhanced security, helping healthcare organizations deploy applications faster, ensure data security, and comply with regulations.
Public Cloud Leads, Hybrid Cloud to See Fastest Growth in the Serverless Architecture Market
In 2023, the Public Cloud segment dominated the Serverless Architecture Market, capturing about 58% of the revenue share. This is mainly attributed to the widespread use of public cloud services in various sectors, providing scalability, adaptability, and lower infrastructure management expenses. Leading public cloud providers such as AWS, Microsoft Azure, and Google Cloud provide robust serverless platforms that effortlessly connect with various cloud services, rendering them the top option for companies in search of efficient, budget-friendly solutions.
The Hybrid Cloud segment is projected to grow at the fastest CAGR of approximately 27.67% from 2024 to 2032. This expansion is fueled by companies seeking to merge the advantages of public cloud scalability with the security and management of private cloud systems. Hybrid cloud options allow companies to enhance workloads, maintain compliance, and gain improved flexibility, leading to their swift adoption and the segment's robust growth potential.
Serverless Architecture Market Segmentation:
By Services
- Automation & Integration
- API Management
- Monitoring
- Security
- Support and Maintenance
- Training and Consulting
- Others
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Organization Size
- Large Enterprise
- SME
By Vertical
- IT and Telecom
- Healthcare
- Retail and E-commerce
- Banking, Financial Services, and Insurance (BFSI)
- Government
- Education
- Others
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North America Leads, Asia Pacific Set for Fastest Growth in the Serverless Architecture Market
In 2023, North America held the largest revenue share of approximately 40% in the Serverless Architecture Market. This dominance is attributed to the region's advanced technological infrastructure, early adoption of cloud services, and the presence of key cloud providers like AWS, Microsoft Azure, and Google Cloud. The demand for flexible, scalable, and cost-effective solutions across industries such as IT, finance, and telecommunications has further cemented North America's position as a leader in serverless innovation and deployment.
The Asia Pacific region, meanwhile, is projected to experience the fastest growth, with a CAGR of about 28.41% from 2024 to 2032. This growth is driven by the region's accelerating digital transformation, particularly in countries like China, India, and Japan. As businesses embrace cloud computing for scalability and cost reduction, serverless architecture is emerging as a key solution, with the increasing number of tech startups and growing enterprise sectors expected to fuel adoption at a rapid pace.
Key Developments in the Serverless Architecture Market
- Alibaba Cloud launched a serverless solution in January 2024 that cuts inference costs by up to 50%, improving access to generative AI services and boosting AI performance.
- In November 2024, Fauna and Cloudflare partnered to enhance serverless development, offering faster, scalable solutions with Fauna’s serverless database and Cloudflare’s edge network.
- IBM introduced Quantum Serverless in October 2024, optimizing quantum and classical resource management for long-running workloads with dynamic CPU, GPU, and QPU allocation.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Serverless Architecture Market Segmentation, By Services
8. Serverless Architecture Market Segmentation, By Deployment
9. Serverless Architecture Market Segmentation, By Organization Size
10. Serverless Architecture Market Segmentation, By Vertical
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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