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Serverless Architecture Market
A surge in the number of applications has led to significant growth in demand for app development technologies.
PORTLAND, PORTLAND, OR, UNITED STATE, March 31, 2023 /einpresswire.com / -- A surge in the number of smartphones, an increase in BYOD adoption, a rise in the number of applications, a growing shift from DevOps to serverless computing, and a rising need to eliminate server management challenges have led to significant growth in the global serverless architecture market .
However, issues associated with third-party APIs restrict market growth. On the other hand, the emergence of serverless architecture applications in the growing IoT landscape and growing cloud infrastructure services market would provide lucrative opportunities for the serverless architecture market.
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According to the report published by Allied Market Research, the global serverless architecture market generated $3.01 billion in 2017, and is estimated to reach $21.99 Billion by 2025, growing at a CAGR of 27.8% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
The public cloud segment accounted for nearly three-fourths of the total market share in 2017, and is expected to maintain its dominance by 2025. However, the private cloud segment is estimated to project the fastest CAGR of 30.0% from 2018 to 2025. The report also explores real-time file/stream processing and other segments.
The web application development segment held nearly half of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, the IoT backend segment is estimated to register the highest growth rate with a CAGR of 31.7% from 2018 to 2025.
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The IT and telecom segment held around one-fourth of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, the media and entertainment segment are estimated to register the highest growth rate with a CAGR of 31.4% from 2018 to 2025.
The large enterprises segment held more than two-thirds of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, the SMEs segment is estimated to register the highest growth rate with a CAGR of 31.8% from 2018 to 2025.
North America region accounted for nearly half of the market in terms of revenue in 2017. However, the Asia Pacific region is expected to grow at the highest CAGR of 31.0% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players analyzed in the research include Amazon Web Services, Alibaba Group, Google LLC, Oracle Corporation, Microsoft Corporation, IBM Corporation, Platform9 Systems, Inc., Twilio, Rackspace Inc., and Tibco Software.
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Impact of COVID-19 on Serverless Architecture Market:
.The serverless architecture market is expected to grow during the Covid-19 pandemic outbreak. The operational activities related to the IT industry have been carried out by work-from-home structure to control the transmission of coronavirus. Therefore the adoption of serverless architecture in its application sectors such as BFSI, IT & telecom, media & entertainment, and e-commerce is carried out normally.
.However, the demand for serverless architecture in some of its application areas which includes healthcare, manufacturing, public sector, and retail has been decreased due to the operational restrictions during the global lockdown.
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