DUBLIN, Oct. 9, 2023 /PRNewswire/ — The “Serverless Architecture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global serverless architecture market size reached US$ 10.8 Billion in 2022. Looking forward, the market is projected to reach US$ 30.2 Billion by 2028, exhibiting a growth rate (CAGR) of 17.8% during 2023-2028.
Serverless architecture is a software design technique allowing developers to create and execute services without managing the underlying infrastructure. It also assists in writing and deploying codes, while a cloud provider provisions servers to execute the applications, databases, and storage systems.
It reduces the cost of DevOps and enables developers to design and enhance their apps without being limited by server capacity. As a result, it finds extensive applications in the information and technology (IT), telecom, healthcare, manufacturing, media and entertainment, retail, and e-commerce industries.
Serverless Architecture Market Trends:
Presently, there is a rise in the utilization of cloud-based applications for accessing, storing, and retrieving files from a web-enabled interface. This, along with the growing demand for serverless architecture to eliminate the management of the server, represents one of the key factors driving the market.
Moreover, the increasing awareness about the benefits of streamlining operations, such as increased cost efficiency, improved productivity and communication, better time management, and reduced risk, is propelling the growth of the market. In addition, there is a rise in app development as it allows users to have easy and functional access to information, products, services, and processes in real-time.
This, coupled with the increasing digital-centric business models across the globe, is offering lucrative growth opportunities to industry investors. Besides this, the growing employment of the internet of things (IoT) to optimize manufacturing operations, track assets with increasing accuracy, target existing consumer services, and create entirely new services and business models is positively influencing the market.
Apart from this, the escalating demand for serverless architecture by various organizations to eliminate expensive traditional and time-consuming approaches, such as purchasing new hardware components, installing, configuring, and troubleshooting, is bolstering the growth of the market.
Key Questions Answered in This Report:
- How has the global serverless architecture market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global serverless architecture market?
- What are the key regional markets?
- What is the breakup of the market based on the service type?
- What is the breakup of the market based on the deployment model?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global serverless architecture market and who are the key players?
- What is the degree of competition in the industry?
- Amazon Web Services Inc. (Amazon.com Inc.)
- Broadcom Inc.
- Cloudflare Inc.
- Google LLC (Alphabet Inc.)
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Platform9 Systems Inc.
- Serverless Inc.
Key Market Segmentation:
Breakup by Service Type:
- Automation and Integration
- API Management
- Design and Consulting
Breakup by Deployment Model:
- Public Cloud
- Private Cloud
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Industry Vertical:
- IT and Telecom
- Media and Entertainment
- Public Sector
- Retail and E-Commerce
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/8yh2id
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Originally published at https://www.prnewswire.com/news-releases/global-serverless-architecture-market-report-2023market-to-surpass-30-billion-by-2028—increasing-digital-centric-business-models-driving-adoption-301950692.html