According to TechSci Research report, The global serverless architecture market is expected to witness significant growth for the next five years. Adoption of the serverless architecture is cost-effective which is considered the driving factor for the growth of the market. These take less computing power and human resources which lowers the maintenance cost of the servers. Organizations hosting the data center or have their servers have to continuously keep their own which consumes a lot of power. Serverless architecture can be used on demand thereby reducing power consumption. Continuous rise in the adoption of cloud technology coupled with the use of serverless computing in IoT technology is expected to boost the growth of the serverless architecture market growth in the next five years.
However, security concerns and compliance issues may restrain the growth of the serverless architecture market.
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Global serverless architecture market is segmented into type, deployment model, organization size, end user, regional distribution, and company. Based on organization size, the market can be divided into small & medium-sized enterprises and large enterprises. The large enterprises segment is expected to hold a major market share in the forecast period, 2022-2026. The rise in demand for cloud automation services and technology is fueling the demand for serverless architecture in large organizations. Large organizations have the capacity and the funds to invest heavily in the adoption of advanced technologies and services, thereby are expected to accelerate the serverless architecture market growth. The heavy investment from large organizations to optimize infrastructural costs and improve the overall workflow is expected to contribute to the serverless architecture market growth. Based on type, the market can be divided into automation & integration services, monitoring services, API management services, security, and support & maintenance. The monitoring services type segment is expected to witness substantial growth in the forecast period. Monitoring is essential to provide protection and stability to the operation process. Tracking system alerts of failures begore impacting the clients and in the serverless architecture system, the need to monitor and find the blind spot is crucial for smooth functioning of the system. Monitoring services use load balancers, containers, third-party providers, and disconnected hosts to help improve the efficiency and accuracy of the tracking system. Based on the deployment model, the market can be bifurcated into public cloud and private cloud. The public cloud segment is expected to dominate the serverless architecture market in the forecast period. Public cloud is defined as the cloud computing model in which the information is accessible to multiple users through the internet. The public cloud services can be offered free of cost or pay-per-use model depending upon the requirements of the end-user. The high adoption of public cloud by the organizations owing to the several benefits offered by the public cloud technology such as scalability, flexibility, and the facility for remote location access.
Alibaba Group, Amazon Web Services, Google LLC, IBM Corporation, Microsoft Corporation, Platform9 Systems, Inc., Rackspace Inc., Tibco Software, Twilio are the leading players operating in global serverless architecture market. Service Providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several serverless architecture providers are coming up with their technologically advanced offerings.
“The growing IT & Telecom sector is expected to hold a significant share in the serverless architecture market growth. The use of serverless architecture in the IT sector aids in providing optimization of the distributed computing and eliminates the maintenance expenses and the need for operating the system manually. Serverless architecture system provides the auto-scaling facility in the case of variable and heavy workloads. The combination of serverless architecture and big data analytics in the field of the healthcare industry, e-commerce, and retail can aid in real-time monitoring and advanced analytics to get improved results and higher efficiency which is expected to boost the serverless architecture market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.