May 21, 2024
ICT

Serverless Architecture Market Size to Reach USD 106.12 Bn by 2033

The global serverless architecture market size was estimated at USD 11.38 billion in 2023 and is projected to reach around USD 106.12 billion by 2033, growing at a CAGR of 25.02% from 2024 to 2033.

Key Points

  • The North America serverless architecture market size accounted for USD 5.12 billion in 2023 and is expected to attain around USD 47.75 billion by 2033.
  • North America led the market with the largest market share of 45% in 2023.
  • By service, the automation and orchestration segment has held the major market share of 23% in 2023.
  • By deployment model, the private deployment segment is projected to have the highest growth during the forecast period.
  • By organization size, the large enterprise segment has contributed more than 64% in 2023.
  • By application, the healthcare segment dominated the market in 2023.

Serverless Architecture Market Size 2024 to 2033

Serverless architecture, also known as Function as a Service (FaaS), is a cloud computing model where cloud providers manage infrastructure, allowing developers to focus solely on writing and deploying code. This market has witnessed rapid growth due to its benefits, such as scalability, reduced operational overhead, and cost efficiency. Organizations are increasingly adopting serverless architectures to build and deploy applications more efficiently without managing underlying server infrastructure.

Get a Sample:https://www.precedenceresearch.com/sample/4276

Growth Factors

The serverless architecture market is experiencing significant growth driven by several key factors. One of the primary drivers is the increasing demand for scalable and cost-effective cloud solutions. Serverless computing allows businesses to pay only for the resources they use, leading to cost savings compared to traditional server-based models. Additionally, the rise of microservices-based application development and the need for faster time-to-market are fueling the adoption of serverless architectures.

Region Insights

The adoption of serverless architecture varies across regions, with North America leading the market due to early technology adoption and a robust cloud infrastructure ecosystem. Europe and Asia-Pacific are also experiencing significant growth driven by increasing cloud adoption and digital transformation initiatives across various industries. Developing regions like Latin America and the Middle East are expected to witness accelerated adoption as cloud infrastructure matures.

Serverless Architecture Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 25.02%
Serverless Architecture Market Size in 2023 USD 11.38 Billion
Serverless Architecture Market Size in 2024 USD 14.22 Billion
Serverless Architecture Market Size by 2033 USD 106.12 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Service, By Deployment Model, By Organization Size, and By Application
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Serverless Architecture Market Dynamics

Drivers

Several drivers propel the growth of the serverless architecture market. These include the increasing demand for agile application development, where serverless computing enables faster deployment and scalability. The shift towards event-driven architectures and the growing popularity of DevOps practices also contribute to the adoption of serverless computing. Moreover, serverless architectures facilitate better resource utilization and reduce infrastructure management complexity.

Opportunities

The serverless architecture market presents various opportunities for vendors and businesses. Expansion into emerging markets, such as healthcare, finance, and IoT, offers new avenues for growth. Innovations in serverless tools and frameworks, along with enhanced security measures, create opportunities to address evolving customer needs. Furthermore, the integration of serverless with edge computing opens up possibilities for low-latency applications and improved user experiences.

Challenges

Despite its advantages, serverless architecture faces certain challenges. Vendor lock-in is a concern, as applications built on proprietary serverless platforms may face limitations when switching providers. Cold start latency, although improving, remains a challenge for real-time applications with unpredictable workloads. Additionally, managing and monitoring serverless functions across distributed environments requires specialized tools and expertise.

Read Also: Virtual Production Market Size to Reach USD 9.85 Bn by 2033

Serverless Architecture Market Recent Developments

  • In February 2024, KT Corp, a South Korean operator, is re-establishing itself as an AICT company and has collaborated with AWS for GenAI and private 5G development.
  • In March 2024, DBOS, Inc., a leading player in developing the first cloud-native operating system, announced the launch of the DBOS Cloud, a transactional serverless application development platform that makes cloud applications rapidly and easily available for development, security, and deployment. DBOS raised seed funding of $8.5 million from Construct Capital, Engine Ventures, GutBrain Ventures, and Sinewave.
  • In February 2024, the governing body of Fluence, Fluence DAO, and the first of the decentralized serverless computing network announced the launch of FLT and network on Ethereum Mainnet with the Fluence Platform which deployed on the InterPlanetary Consensus (IPC), which makes Fluence’s “Cloudless” computing platform available for the first time.

Serverless Architecture Market Companies

  • Amazon Web Services, Inc.
  • Alibaba Cloud
  • CA Technologies
  • Dynatrace
  • Fiorano Software, Inc.
  • Galactic Fog IP, Inc.
  • Google LLC
  • IBM Corporation
  • Joyent Inc.
  • Microsoft Corporation
  • ModuBiz Ltd.
  • Manjrasoft Pty Ltd.
  • NTT Data
  • Oracle Corporation
  • Platform9 Systems, Inc.
  • Realm
  • Rackspace Inc.
  • TIBCO Software Inc.
  • Tarams Technologies
  • Twistlock

Segments Covered in the Report

By Service

  • Automation and Orchestration
  • API Management
  • Monitoring
  • Security
  • Support and Maintenance
  • Training and Consulting

By Deployment Model

  • Private
  • Public
  • Hybrid

By Organization

  • Large Enterprises
  • Small And Medium Enterprises

By Application

  • Healthcare
  • Telecom and IT
  • BFSI
  • Government and Public
  • Media and Entertainment
  • Retail and E-commerce
  • Manufacturing

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/

Leave a Reply

Your email address will not be published. Required fields are marked *