Serverless Architecture Market Size, Share, Industry Trends and Forecast to 2030

Serverless Architecture Market Size & CAGR in 2021

The global serverless architecture market is anticipated to have a CAGR of 23.1% from 2021 to 2028, reaching a market size of USD 18.25 billion by 2028. The increasing adoption of cloud computing and the need for scalable and cost-effective solutions are driving the growth of the serverless architecture market.

COVID-19 Impact on the Serverless Architecture Market

The COVID-19 pandemic has accelerated the adoption of serverless architecture as businesses look for ways to streamline their operations and reduce costs. With remote work becoming the new normal, organizations are increasingly turning to cloud-based solutions, including serverless architecture, to support their digital transformation efforts.

Serverless Architecture Dynamics

The serverless architecture market is driven by factors such as the growing demand for scalable and cost-effective solutions, increasing adoption of cloud computing, and the need for faster time to market. Serverless architecture enables organizations to focus on developing and deploying applications without worrying about managing servers, leading to increased efficiency and agility.

Segments and Related Analysis

The serverless architecture market can be segmented based on deployment model, organization size, end-user industry, and region. By deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. By organization size, it is segmented into small and medium-sized enterprises (SMEs) and large enterprises.

By Region Analysis

The serverless architecture market is analyzed across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the market due to the presence of major cloud service providers and early adoption of serverless architecture solutions.

Key Market Players and Competitive Landscape

Key players in the serverless architecture market include AWS Lambda, Azure Functions, Google Cloud Functions, IBM Cloud Functions, and Alibaba Cloud Function Compute. These players are constantly innovating and launching new services to capture a larger market share.

Recent Happenings in the Serverless Architecture Market

In recent developments, AWS Lambda introduced support for container images, allowing developers to run applications in custom runtimes. Google Cloud Functions launched Eventarc, a event-driven platform that enables seamless integration with various Google Cloud services.