According to a market research report "Serverless Architecture Market by Service type (Automation and
Integration, Monitoring, API Management, Security, Support & Maintenance,
and Training & Consulting), Deployment Model, Organization Size, Verticals,
and Region - Global Forecast to 2023", published by
MarketsandMarkets, the serverless architecture market size is estimated to be
USD 4.25 billion in 2018 and expected to reach USD 14.93 billion by 2023, at a
Compound Annual Growth Rate (CAGR) of 28.6% during the forecast period.
The major factors expected to drive the growth of the
serverless architecture market include the elimination of the need to manage
servers for reducing infrastructure costs and easing deployment, management,
and execution, shift from the DevOps to the serverless computing, and
proliferation of microservices architecture.
Browse and in-depth TOC on “Serverless
Architecture Market”
59 - Tables
44 - Figures
144 - Pages
Under service types, the automation and integration services
segment is estimated to account for the largest market share in 2018
The automation and integration services segment is estimated to
account for the largest market share in 2018. Automation and integration
services play a fundamental role in the deployment of serverless architecture.
Automation services help efficiently manage microservices, which are deployed
on hybrid IT platforms, to provide faster response along with optimum resource
utilization. Integration services combine and consolidate the data and function
of multiple micro-services. These services have gained importance, and are often
required for distributed microservice applications. Moreover, they act as a
catalyst for the complex issues faced during the implementation of serverless
architecture in organizations.
The Small and Medium-sized Enterprises (SMEs) segment is
expected to grow at a higher CAGR during the forecast period
SMEs are rapidly moving their traditional on-premises solutions
to cloud. This change significantly reduces operational costs and helps achieve
profits. Competitive pricing opens up numerous options to choose from various
cloud service providers and makes it affordable for the SMEs to incorporate
cloud services. As the SMEs have limited expertise, moving toward cloud would
enable them to reduce their infrastructure costs.
Among verticals, the media and entertainment vertical is
expected to grow at the highest CAGR during the forecast period
The media and entertainment is one of the fastest growing
verticals in the serverless architecture market during the forecast period. In
the past, media and entertainment companies faced the challenge of managing and
supporting complex workflows, and new data formats with uncertain revenue and
monetization. To manage the enormous volume of digital media and data generated
across applications, serverless architecture offers an attractive solution. It
enables the media and entertainment companies to manage their processes and
workflows in an efficient, scalable, flexible, and reliable manner. By using
serverless architecture, they are developing new and better ways to enhance their
digital supply chain while reducing operating expenses.
In regions, North America is expected to account for the largest
market share during the forecast period
North America is expected to account for the largest market
share during the forecast period. It is home to 2 developed economies, the US
and Canada, which contribute heavily to the growth of the regional market. One
of the key reasons for the region’s growth is the early adoption of
technologies and globalization of cloud. The strong financial position of the
US and Canada enables them to invest heavily in the leading services of the
serverless architecture market. North America is the most developed market in
terms of cloud adoption, due to various factors such as standard regulations,
advanced IT infrastructure, the presence of a large number of enterprises, and
availability of technical expertise.
The major vendors covered in the serverless architecture market
include Google (US), AWS (US), IBM (US), Microsoft (US), Oracle (US), CA
Technologies (US), Rackspace (US), Alibaba (China), TIBCO (US), Platform9 (US),
Syncano (US), NTT Data (Japan), Joyent (US), Iron.io (US), StdLib, Realm (US),
Galactic Fog (US), ModuBiz (US), Tarams (US), Snyk (UK), Dynatrace (US),
Fiorano Software (US), Manjrasoft (Australia), SixSq (Switzerland), and
Twistlock (US).
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Content Source: https://www.marketsandmarkets.com/PressReleases/serverless-architecture.asp
Report: https://www.marketsandmarkets.com/Market-Reports/serverless-architecture-market-64917099.html
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/serverless-architecture.asp
Report: https://www.marketsandmarkets.com/Market-Reports/serverless-architecture-market-64917099.html
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