Serverless Computing Market Size, Share & Industry Analysis, By Services (Monitoring Services, API Management Services, Integration Services, Security, Support and Maintenance, Others), By Deployment (Public Cloud, Private Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises (SMEs), Start-up Firms) , By Industry (BFSI, It and Telecom, Retail, Healthcare)and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI103034 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Serverless computing also known as function as a service (FaaS) is a cloud infrastructure that manages all the server operations and maintenance. Cloud-based services such as Azure Functions, Google Cloud Functions, and AWS Lambda enable developers to focus on core application development logic rather than managing server infrastructure. Serverless computing architecture becomes favorable in the industry due to its capability to increase agility and scalability.

Capabilities to eliminate infrastructure management tasks, operating system maintenance, capacity provisioning, and patching are expected to drive the serverless computing market growth. In the market, cloud-based microservice architecture is expected to see a large adoption as compared to an on-premise serverless computing model. The popularity of a consistent model of serverless computing is growing daily which is expected to contribute to the growth of the market.

As the architecture reduces set up cost and maintenance cost with shifting of responsibilities of managing database and server support rapid adoption of serverless computing. Although, unconditional node deployment and built-in scalability thereby augmenting the serverless computing market. Most of the key players are focussing on the development of offering by adopting advanced technologies to reduce time is expected to fuelling the serverless computing market growth.

Key Market Driver -

• Elimination of the need to manage servers • Reduced complexity and infrastructure costs

Key Market Restraint -

• Security and compliance issues

Key Players Covered:

The key players are enhancing their serverless computing offerings by adopting advanced technologies to stay ahead in the market position. With the rapid technological development in the business environment, companies are launching new product infrastructure and features to meet growing customer expectations. Start-up firms and small and medium organizations are seen as adopting serverless technology to achieve business value in minimum time, thereby propelling market growth. Moreover, strategic partnerships and collaborations by key players expand their business and product offerings, thereby flourishing the serverless computing market.

Other Key companies summarised include Microsoft Corporation, Amazon Web Services, Inc., Google LLC., Firebase, Alibaba Group, IBM Corporation, Oracle Corporation, Platform9 Systems, Inc., and Rackspace Inc. among others.

Rapidly increasing adoption of cloud-based applications makes opportunities for serverless computing to grow. Also, the digitalization of business contributing to offer opportunities for market growth in the upcoming years. However, the architectural complexity of the system may become a challenge for the market to grow in the future.

Regional Analysis:

Presence of prominent market players within the region and rapid technological advancement expected to drive the serverless computing market in North America. Although, presence of a large server user base in the industries such as IT & Telecom, BFSI, retail, healthcare and, manufacturing expected to dominate the market across the region. Europe is expected to drive the serverless computing market as the adoption of cloud-based services is seen to be larger across the region. further, technologically advanced countries such as the U.K., Germany, France are leading in the digitalization, offer an opportunity for market growth. A large number of small, medium, and start-up firms in the Asia Pacific are anticipated to representing high growth rate serverless computing in the Asia Pacific. The Middle East and Africa will expect to showcase a slow growth rate of the serverless computing market.

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Segmentation

ATTRIBUTE	DETAILS
By Services	Monitoring Services API Management Services Integration Services Security Support and Maintenance Others
By Deployment	Public Cloud Private Cloud
By Enterprise Size	Large Enterprises Small & Medium Enterprises (SMEs) Start-up Firms
By Industry	BFSI It and Telecom Retail Healthcare Manufacturing Government Media and Entertainment Others
By Geography	North America (the U.S., and Canada) Europe (the U.K., Germany, France, Scandinavia, and Rest of Europe) Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific) Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa) Latin America (Brazil, Mexico, and Rest of Latin America)

Key Industry Developments

April 2018: Google LLC launched new version of cloud function for Firebase SDK to enhance functions of debugging, implementation and management in an application

December 2017: Pivotal Software, Inc. announced launching of new serverless computing product, named Pivotal Function Service, in year 2018

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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