Serverless Architecture Industry
WILMINGTON, DE, UNITED STATES, October 4, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global serverless architecture market size 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.
Surge in number of smartphones, increase in BYOD adoption, rise in number of applications, growing shift from DevOps to serverless computing, and rising need to eliminate server management challenges have led to significant growth of the global serverless architecture market. However, issues associated with third-party APIs restrict the market growth. On the other hand, emergence of serverless architecture applications in growing IoT landscape and growing cloud infrastructure services market would provide lucrative opportunities for the serverless architecture market.
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Serverless architecture is one of the fastest growing cloud service models, as the technology has reduced the need to maintain physical infrastructure and systems software. In additions, the growth of serverless architecture market can be attributed to benefits such as the high scalability & performance and the payment on the basis of resources consumed by application among the organizations. The technology has opened up several opportunities for developers focused to build apps using more dynamic and scalable cloud-native architecture and can further free up resources for business initiatives toward greater business values. Heavy demand for innovative mobile apps and growth in app development market serve as the major factors driving the market growth.
Moreover, rise in shift from DevOps to serverless computing and increase in need to reduce infrastructure burdens positively impact the market growth. However, certain issues with third-party APIs such as security & compliance concerns, lock-in problems, and architecture complexities are some factors that hinder the serverless architecture market growth.
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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 the 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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