Based on Research Nester's assessment of the growth of the global serverless architecture market, the market is expected to grow as organizations seek solutions that will help them reduce development and deployment times for applications
New York – June 01, 2023 - Research Nester’s recent market research analysis on “Serverless Architecture Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global serverless architecture market in terms of market segmentation by deployment mode, application, organization size, industry vertical and by region.
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A growing number of video streaming services has contributed to the growth of the serverless architecture market in the global market. The number of American households with access to streaming video services reached 84% by December 2021. Serverless architecture is cost-effective and scalable and can reduce the cost of video delivery by eliminating the need for infrastructure and server maintenance. Additionally, it can help streamers reduce latency and improve video quality, leading to a better user experience. This has resulted in an increased demand for serverless functions, which in turn has driven the growth of the serverless architecture market.
Some of the major growth factors and challenges that are associated with the growth of the global serverless architecture market are:
Growth Drivers:
- Rise in the use of cloud-based services
- Growing demand for an agile and cost-effective computing model among organizations
Challenges:
The lack of proper documentation and guidance for developers, limited support for third-party tools, and the complexity of the architecture are some of the challenges that can make it difficult to adopt and use serverless architecture. Additionally, there can also be security issues associated with the use of serverless architectures. Security issues can arise from the fact that serverless architectures rely heavily on third-party services, which can be difficult to secure.
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In terms of enterprise size, the global serverless architecture market is divided into large enterprises and SMEs. Revenues from large enterprises are expected to grow at a significant CAGR by the end of 2035 owing to the increasing number of large enterprises entering the market. In 2020, there were approximately 337,520 large enterprises with 250 or more employees, but in 2021 there are expected to be 351,519 large enterprises with 250 or more employees. Large enterprises tend to have more resources to invest in and deploy serverless architectures. They also tend to have more complex applications that require scalability and flexibility, which serverless architectures provide. Additionally, larger enterprises tend to be able to take advantage of the cost savings associated with serverless architectures. By employing serverless, large enterprises can manage any sudden changes in traffic or demand with ease.
By region, the North American serverless architecture market is to generate the highest revenue by the end of 2035. This growth is anticipated by the increasing demand for cloud computing services in the region, along with the rising need for cost-effective and secure IT infrastructure. Approximately 43% of traditional small businesses use cloud computing or infrastructure services in the region. Additionally, the growing number of companies that are switching to serverless computing for their applications is expected to further fuel the market growth in the region. Serverless computing is a cloud-based computing platform that allows companies to run applications without having to manage the underlying servers. This eliminates a lot of overhead costs associated with running applications, allowing companies to focus on developing their applications instead.
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This report also provides the existing competitive scenario of some of the key players of Amazon Web Services, Inc., Microsoft Azure, Google Cloud Platform (GCP), IBM Corporation, Oracle Cloud Infrastructure, Alibaba Cloud, Auth0, Inc., Stackery, Inc., Twilio, Inc., Iron.io.
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