Serverless Architecture Market Growing at a CAGR 22.7% | Key Player Amazon, Google, Microsoft, IBM, Oracle

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Serverless Architecture Market Growing at a CAGR 22.7% | Key Player Amazon, Google, Microsoft, IBM, Oracle

June 26
16:44 2020
Serverless Architecture Market Growing at a CAGR 22.7% | Key Player Amazon, Google, Microsoft, IBM, Oracle

Amazon (US), Google (US), Microsoft (US), IBM (US), Oracle (US), Alibaba (China), Cloudflare (US), NTT DATA (Japan), Rackspace (US), TIBCO Software (US), Stackpath (US), Auth0 (US), EnterpriseWeb (US), Kong (US), Serverless (US), Snyk (UK), OpenLegacy (US), Innominds (US), Stackery (US), and Twistlock (US)
Serverless Architecture Market by Service Type (Automation and Integration, Monitoring, API Management, Security, Analytics, and Design and Consulting), Deployment Model, Organization Size, Vertical, and Region – Global Forecast to 2025

The global Serverless Architecture Market size is projected to grow from USD 7.6 billion in 2020 to USD 21.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.7% during the forecast period. The major factors driving the growth of the serverless architecture market include the rising need of shifting from CAPEX to OPEX by removing the need to manage servers, thereby reducing the infrastructure cost. 

Large enterprises segment to hold a larger market size during the forecast period

The adoption of serverless architecture service types among large enterprises is high owing to the ever-increasing demand for cloud automation, and the trend is expected to continue during the forecast period. Large enterprises are heavily investing in advanced technology to increase the company’s overall productivity and efficiency. With the ever-increasing amount of data, large enterprises need to invest in IT infrastructure and technical expertise for automating various tasks regularly. To reduce CAPEX and OPEX of infrastructure, large enterprises are widely adopting serverless architecture service types. Large enterprises are expected to invest significantly to implement suitable serverless architecture service types which would enable enterprises to save on infrastructure costs, improve business functioning, and sustain in intense competition.

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Public cloud segment to record the highest growth rate during the forecast period

Public cloud refers to the cloud computing model in which the resources are accessible to multiple users in sharing through the internet. It is a standard model that enables service providers to grant access to the resources such as applications and storage, available to the public over the internet. The public cloud services may be offered free of cost or on pay-per-use model depending upon the requirements of the end users. The reason for the high adoption of public cloud among cloud storage providers is the ease of access and faster deployment. The public cloud deployment model offers various benefits to the enterprises, such as scalability, reliability, flexibility, and remote location access. Public cloud is more preferred by the enterprises that have less regulatory hurdles and are willing to outsource their storage facilities either fully or partially. The primary concern with public cloud is data security due to which many enterprises are shifting to private and hybrid cloud storage solutions.

Major serverless architecture vendors include Amazon (US), Google (US), Microsoft (US), IBM (US), Oracle (US), Alibaba (China), Cloudflare (US), NTT DATA (Japan), Rackspace (US), TIBCO Software (US), Stackpath (US), AUTH0 (US), EnterpriseWeb (US), Kong (US), and Serverless (US). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the serverless architecture market. Product enhancements and collaborations have been the most adopted strategies by major players from 2017 to 2020, which helped companies innovate their offerings and broaden their customer base.

Amazon Web Service (AWS) is one of the leading players in the serverless architecture market. AWS serverless platform is a one-,stop solution which includes data storage, application integration services, analytics, API gateway, compute, and orchestration. Users are charged for the platform only for the compute time they have consumed. The platform handles everything required to run and scale codes with high availability. The company caters to its customer base in more than 190 countries.

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Google is another established player and a globally recognized vendor of cloud and serverless architecture. Google Cloud’s serverless platform enables to write code without worrying about the underlying infrastructure. Deploy functions or apps as source code or as containers. Easily build full stack serverless applications with Google Cloud’s storage, databases, machine learning, and more. Extend applications with event-driven computing from Google or third-party service integrations. The serverless workloads can be moved to on-premises environments or to the cloud.

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