Market Overview –
According to a new report by Reports and Data, the global serverless architecture market is expected to reach USD 86.94 billion by 2030. In a serverless architecture, an app relies on third-party services or on custom code that is executed in transient containers to perform various tasks. Despite the misleading name, this method does not entail the use of no servers at all. If you’re using the term “serverless computing,” you’re describing a model in which the back-end code can run on any physical or virtual machine you want.
The serverless architecture market’s revenue has grown as a result of the growing use of cloud computing. Operational effectiveness has been transformed as a result of advancements in enterprise information technology. Physical infrastructure is no longer required with serverless architecture. Serverless architecture makes it simple to deploy and manage managed services and other components, such as software and functions, and this makes it an important growth driver. Cloud computing and serverless architecture have had a significant impact on the adoption of these technologies. Furthermore, serverless architecture’s high scalability has allowed small and medium-sized businesses to use IT services typically reserved for larger corporations.
Market Dynamics –
In a wide range of applications, the serverless architecture revolution has sped up innovation. Customer relationship management (CRM), business intelligence and analytics, human resources information systems (HRIS), finance and e-commerce are just a few examples of the many industries where serverless architecture is being used. Software applications can be quickly and easily customised using a serverless architecture model, which allows businesses to select the services they need. Cloud-based technologies are being utilised to their fullest extent in serverless architecture. Instead of managing traffic on their IT infrastructure, businesses can concentrate on their core services and products. In addition, modern applications are experimenting with serverless deployment, which allows application developers to increase agility across data stores, computers, and integration stacks. The serverless architecture market is being driven by these factors.
COVID-19 Analysis –
COVID-19 has pushed the serverless architecture market into overdrive. In the wake of the COVID-19 pandemic, more and more businesses are turning to serverless architecture as a way to complete their digital transformation. Due to government and local authority lockdowns and operational restrictions, many organisations have shifted to a work from home model.
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Because of this, serverless architecture adoption is gaining traction in retail and e-commerce, media and entertainment, as well as financial services. Companies that use serverless architecture have seen an increase in demand and revenue. During COVID-19, the serverless architecture market has seen increased demand due to factors such as remote work, digital events, in-person meetings, and live streaming services.
Key Highlights of the Serverless Architecture Market –
CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the serverless architecture market size during the next five years
Precise estimation of the global serverless architecture market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the serverless architecture industry across APAC, Europe, MEA, North America, and South America
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details of factors that will challenge the growth of serverless architecture providers
Market Research Methodology –
Every market study begins with the acquisition of raw data through a variety of research methods that allow for precise data collection. With the right combination of primary and secondary research techniques, the serverless architecture market can access a wide range of relevant data. First-hand interviews with executives at the highest levels of important market participants are considered primary sources.
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Other publically available secondary sources include government websites, statistical agencies, and company annual reports. Processed data is reduced to the essentials, allowing skilled data analysts to make insightful observations. For market size estimation, validation, and forecasting, top-down and bottom-up approaches are used. Prior to delivery, the final report is thoroughly checked to ensure that it meets MRFR’s strict standards.
Competitive Landscape –
An in-depth look at the global serverless architecture market’s leading players, including capacity, competitive landscape and recent developments such as capacity expansions, plant turnarounds and merger & acquisition activity .
Key Players –
Amazon Web Services, Inc.
Platform9 Systems, Inc.
TIBCO Software Inc.
By Type –
Consulting and Training
Support and Maintenance
By Applications –
IT and Telecommunication
Financial Services and Banking
Retail and E-commerce
Media and Entertainment
By Regions –
Middle East & Africa