Global Serverless Architecture Market Size, Share, Growth Analysis, By Deployment(Public Cloud, Private Cloud), By End-user(BFSI, and IT and Telecommunications) - Industry Forecast 2024-2031

Global Serverless Architecture Market size was valued at USD 8.01 billion in 2022 and is poised to grow from USD 9.84 billion in 2023 to USD 50.86 billion by 2031, growing at a CAGR of 22.8% during the forecast period (2024-2031).

The growing awareness of serverless architecture's benefits, such as increased operational agility and lower costs, is driving significant growth in the global industry. Developers are drawn to serverless architecture because it offers them advantages including easier setup, streamlined operational management, and the removal of system administration duties. In addition, the industry is being driven by the advent of cloud-based technologies and the accessibility of outside providers for server component management. Organizations can do away with costly and time-consuming traditional methods including hardware purchases, installation, configuration, and troubleshooting by implementing serverless architecture. The setup and maintenance expenses are reduced as a result of this transfer of management responsibilities for servers, databases, and application logic.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Serverless Architecture Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Serverless Architecture Market Segmental Analysis

The Global Serverless Architecture Market is segmented by deployment, end-user, and region. Based on deployment, the market can be segmented into public cloud, private cloud, and hybrid cloud. Based on end-user, the market is segmented into BFSI, and IT and telecommunications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Serverless Architecture Market

The growing need for improved operational agility and cost savings is a major factor propelling the serverless architecture industry. Enterprises spanning diverse sectors are recognizing the advantages of serverless architecture, including expedited configuration, simplified administration, and diminished upkeep expenses. Businesses can increase efficiency and productivity by concentrating on their core goods and services by delegating the management of servers and infrastructure to outside providers. The market is expanding and serverless architecture adoption is being driven by this factor.

Restraints in the Global Serverless Architecture Market

There are certain limitations in the industry, even though serverless architecture is becoming more and more popular. The possibility of vendor lock-in is one important limitation. Compatibility difficulties might make it difficult for organizations who rely significantly on one cloud service provider to migrate their serverless apps to another provider. Confidential information entrusted to other contractors also raises privacy and data security risks. Moreover, companies may encounter difficulties in administering and monitoring serverless applications across many providers due to their complexity. In order to guarantee the serverless architecture market's sustainable growth, these constraints must be removed.

Market Trends of the Global Serverless Architecture Market

An emerging trend in the serverless architecture arena is the growing amalgamation of machine learning (ML) and artificial intelligence (AI) functionalities. In order to create and use AI/ML models more effectively and facilitate automated and intelligent decision-making, organizations are turning to serverless platforms. AI/ML technologies combined with serverless computing provide improved scalability, real-time data processing, and cost efficiency. This trend is anticipated to propel the adoption of serverless architecture and change the way intelligent apps are created and implemented as enterprises look to harness the potential of AI/ML in a variety of applications.