Selbyville, Delaware, June 16, 2021 (GLOBE NEWSWIRE) --
Global Market Insights Inc. has recently added a new report on the serverless architecture market which estimates the market valuation for serverless architecture will cross US$ 30 billion by 2027. Advancements in cloud computing technologies and enterprise-wide digitization, which are the major factors driving the industry growth.
The serverless architecture market growth is attributed due to the development and testing of use cases of serverless architecture such as media & log processing, IT automation, IoT backends, etc., in addition to application developments and deployments over cloud infrastructure for enhanced agility. These initiatives by technology enterprises are driving the adoption of serverless architecture across the industry.
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The monitoring segment is anticipated to grow at a CAGR of above 25% from 2021 to 2027. It plays an important role in optimizing performance along with real-time insights into executions and functional activities. In addition, the growing demand for improving visibility across executions and events by cloud developers is supporting the demand for serverless architecture solutions. This creates more opportunities for enterprises to offer more personalized solutions and reduces security concerns.
The hybrid cloud segment is expected to hold a larger market share during the forecast period. Growth is attributed due to the enhanced scalability and flexibility to integrate both public & private cloud environments to optimize the operational output. The hybrid models are increasingly emerging as a viable alternative to public and private cloud models due to their combined benefits of scalability and data security.
The serverless architecture market demand from large organization segment is poised to see growth rate of more than 20% CAGR from 2021 to 2027 on account of the expansive rise in infrastructure digitization activities across established enterprises. The emergence of a hybrid cloud, which offers enhanced data security with high scalability is driving the growth of large enterprises. In addition, the adoption of cloud computing due to the extensive use of SaaS models, such as CRM and ERP solutions, is further supporting the market growth.
The media and entertainment segment is projected to witness exponential growth through 2027 driven by the operational benefits including reduced backend errors, seamless content delivery, and optimized service integrations offered by the serverless infrastructure. Moreover, several established enterprises have also developed a sophisticated serverless architecture platform to support content delivery infrastructure and improve business efficiency.
APAC is set to expand significantly in the serverless architecture market with around 20% revenue share by 2027. Growth is attributed due to benefits such as reduction in maintenance costs and non-involvement of physical infrastructure. In addition, the region has the fastest-growing economies, such as China and India, and increasing demand for serverless architecture from multiple industries including retail, e-commerce, healthcare, and BFSI. These factors are anticipated to support the market growth over the forecast period.
Several companies in the region are focusing on innovative launches in the market. For instance, in April 2020, Amazon Web Services launched the Fargate 1.4., an update to its serverless container platform. The new update supports shared elastic file system storage and removes the use of Docker Engine. This update helped the company to strengthen its serverless architecture platform and acquire a competitive position in the market. Similarly, in July 2020, Cloudflare, Inc. released the Cloudflare Workers Unbound, a serverless platform for developers. The new solution allows developers to run complicated computing workloads across the Cloudflare network. This release helped the company to provide the best-in-class user experience and strengthen its position in the market.
Some major findings of the serverless architecture market report include:
- Advancements in cloud computing technologies and enterprise-wide digitization are anticipated to support the market growth.
- APAC is anticipated to hold a major market share due to reduction in maintenance costs and non-involvement of physical infrastructure.
- Major players operating in the serverless architecture market are Alibaba Group Holding Limited, Amazon Web Services, Google LLC, IBM Corporation, Joyent, Microsoft Corporation, Nasuni Corporation, and NTT Data Corporation.
- Companies operating in the market are focusing on the integration of new technologies and portfolio expansion to cater to diverse customer requirements.
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Partial chapters of report table of contents (TOC):
Chapter 3 Serverless Architecture Industry Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 By region
3.3.2.1 North America
3.3.2.2 Europe
3.3.2.3 Asia Pacific
3.3.2.4 Latin America
3.3.2.5 Middle East & Africa
3.3.3 Industry value chain
3.3.3.1 Suppliers
3.3.3.2 Serverless architecture technology providers
3.3.3.3 Marketing & distribution channels
3.3.4 Competitive landscape
3.3.4.1 Strategy
3.3.4.2 Distribution network
3.3.4.3 Business growth
3.4 Evolution of serverless architecture
3.5 Serverless architecture industry architecture
3.6 Serverless architecture industry ecosystem analysis
3.6.1 Serverless architecture technology providers
3.6.2 Hardware manufacturers
3.6.3 System integrators
3.6.4 Data center operators
3.6.5 End users
3.6.6 Profit margin analysis
3.6.7 Vendor matrix
3.7 Patent analysis
3.8 Investment portfolio
3.9 Technology & innovation landscape
3.9.1 Serverless at the edge
3.9.2 Function-as-a-Service (FaaS)
3.9.3 Serverless security
3.9.4 Serverless DevOps
3.10 Regulatory landscape
3.10.1 Global
3.10.1.1 ISO/IEC 270001
3.10.2 North America
3.10.2.1 NIST Special Publication 800-144 - Guidelines on Security and Privacy in Public Cloud Computing (U.S.)
3.10.2.2 Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U.S.)
3.10.2.3 Personal Information Protection and Electronic Documents Act [(PIPEDA) Canada]
3.10.3 Europe
3.10.3.1 General Data Protection Regulation (EU)
3.10.3.2 German Privacy Act (Bundesdatenschutzgesetz- BDSG)
3.10.4 APAC
3.10.4.1 Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)
3.10.4.2 Secure India National Digital Communications Policy 2018 – Draft (India)
3.10.5 Latin America
3.10.5.1 National Directorate of Personal Data Protection (Argentina)
3.10.5.2 The Brazilian General Data Protection Law (LGPD)
3.10.6 MEA
3.10.6.1 Law No. 13 of 2016 on protecting personal data (Qatar)
3.10.6.2 Cyber Security Framework, Saudi Arabian Monetary Authority (SAMA)
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.1.1 Rising need of serverless computing for DevOps practices
3.11.1.2 Growing need to eliminate complexities in server provisioning
3.11.1.3 Rapid advancements in cloud computing technologies
3.11.1.4 Penetration of IoT and BYOD
3.11.1.5 Growing affinity of enterprises towards microservices
3.11.2 Industry pitfalls & challenges
3.11.2.1 Critical security risks associated with serverless architecture
3.11.2.2 Lack of expertise and limited skillsets in serverless architecture industry
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.