New York, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global serverless architecture market size is slated to expand at ~25.70% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 193.42 billion by the end of 2035, up from a revenue of ~USD 12.43 billion in the year 2022.The growth of the market is attributed to the growing demand for e-commerce which keeps driving the creation of e-commerce websites. There are between about 11 and about 23 million e-commerce websites worldwide, and new ones are being added every day. Therefore, the size for serverless architecture market is growing. Web applications, including e-commerce websites, content management systems, and social media platforms, are often built using serverless architectures.
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Serverless computing enables web applications to scale automatically in response to changes in demand, freeing developers from server management tasks and freeing them to focus on code creation. In addition, because developers can focus on writing code rather than maintaining infrastructure, the serverless architecture enables faster application development and deployment. Launched in 2008, the iOS App Store had around 499 apps. Today, nearly 6 million apps are available on both iOS and Android platforms, covering all genres and specifics of apps and games. Serverless architectures are also popular for IoT and mobile applications that require fast data throughput and response times.
Serverless Architecture Market: Key Takeaways
- Market in North America to propel highest growth
- The large enterprise segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Increasing Number of Video Streamers across the Globe to Boost Market Growth
Approximately 84% of American households had access to a video streaming service as of December 2021. Video streaming applications often use a serverless architecture. In addition to delivering video footage to end users, serverless capabilities can be used to handle video processing tasks, including encoding, transcoding, and resizing. Hence, it is estimated that the market will grow with the growth of video streamers. In 2022, approximately 36% of Americans ages 18 and older will be using telemedicine. Healthcare companies are turning to serverless architecture for applications like telemedicine that need to be scalable, compliant with healthcare legislation, and handle real-time data. More than 2 million students around the world are currently completing their higher education entirely online.
In the education sector, serverless architecture is used to develop and deploy applications that need to be scalable and affordable, such as student analytics systems and online learning platforms. Hence, it is expected to impel the growth of the market in the coming years. In recent years, the number of online shoppers has increased worldwide. In 2023, there will be about 79 million more online shoppers than in 2022, an increase of about 2% per year. However, online shopping platforms often experience spikes in traffic during peak periods, including holidays and sales events.
Serverless Architecture Market: Regional Overview
The global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Expanding cloud deployment to Drive the Market Growth in North America Region
The serverless architecture market in North America region is estimated to garner the largest revenue by the end of 2035. The regional growth can majorly be attributed to the availability of advanced cloud infrastructure and increasing cloud deployment by small businesses. Approximately 43% of mainstream small businesses use cloud hosting or infrastructure. This is in contrast to about 73% of corporations and about 65% of small tech companies in the US.
Large cloud service providers with a significant presence in North America, such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform, provide businesses with access to a variety of serverless services and resources. This has made it easier for companies in North America to implement serverless architecture and realize its benefits. Additionally, the high emphasis on innovation and technology is another element driving the market in the region. Many companies in North America are at the forefront of innovation and are constantly looking for ways to improve their processes and beat the competition. As a flexible and scalable way to build and deploy applications, serverless architecture is a desirable alternative for organizations looking to upgrade their IT infrastructure. Therefore, all these factors are expected to enhance the growth of the market in the region.
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Growing serverless architecture to Propel the Growth in the Asia Pacific Region
The Asia Pacific serverless architecture market is estimated to garner the highest CAGR by the end of 2035. Serverless architecture allows applications to automatically scale up or down based on demand, providing flexibility to businesses. This scalability factor has contributed to the growth of serverless architecture. A survey by O'Reilly found that 40% of respondents in the Asia Pacific region cited scalability as the primary reason for adopting serverless architecture. Serverless architecture offers cost optimization benefits by eliminating the need for provisioning and managing dedicated servers. This has been a significant factor driving its adoption.
The increasing adoption of cloud computing in the Asia Pacific region has been a major driver for serverless architecture. Serverless architecture enables faster application development and deployment, as developers can focus on writing code without worrying about infrastructure management. This has led to increased productivity and faster time-to-market for businesses. The proliferation of IoT devices in the Asia Pacific region has generated a massive amount of data. serverless architecture market offers an efficient and scalable way to process and analyze this data, driving its adoption.
Serverless Architecture, Segmentation by Organization Size
- Large Enterprise
- SMEs
Amongst these two segments, the large enterprise segment is anticipated to hold the largest share over the forecast period. The growth of the market is attributed to the growing number of large companies. It is estimated that there will be approximately 351,519 large companies with 250 or more employees worldwide in 2021, up from approximately 337,520 in 2020. As such, adoption of serverless architecture is increasing. Large enterprises are able to handle sudden and unforeseen spikes in traffic or demand with a serverless architecture. The serverless architecture ensures applications can handle any level of traffic without requiring manual intervention from the by automatically scaling up or down.
Additionally, large enterprises that may face high costs of owning and maintaining their own servers and data centers might look to serverless systems as a cost-effective alternative. Rather than having to maintain a predetermined amount of capacity, serverless architecture allows organizations to simply pay for the computing resources they actually use. There are relatively few of these organizations, but their size and ability to dominate a given market means they generate the majority of total sales when all company sizes in the US are considered.
Serverless Architecture, Segmentation by Deployment Model
- Public Cloud
- Private Cloud
Amongst these two segments, the public cloud segment in serverless architecture market is anticipated to hold a significant share over the forecast period. Organizations across industries are undergoing digital transformation initiatives to modernize their operations and improve efficiency. Public cloud services play a crucial role in enabling digital transformation by providing scalable and flexible infrastructure and services. According to IDC, worldwide spending on digital transformation is expected to reach USD 2.3 trillion in 2023. Public cloud services offer cost advantages by eliminating the need for upfront infrastructure investment and reducing ongoing maintenance costs.
Public cloud services provide on-demand scalability, allowing organizations to quickly scale their resources up or down based on demand. This flexibility enables businesses to respond to changing market conditions and handle peak workloads effectively. The increasing adoption of data analytics and artificial intelligence (AI) applications has been a significant driver for public cloud services. These technologies require vast computing power and storage, which can be efficiently and cost-effectively provided by public cloud providers. The COVID-19 pandemic has accelerated the adoption of remote work and collaboration tools. Public cloud services have played a crucial role in enabling remote work and supporting collaborative work environments.
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Serverless Architecture, Segmentation by Application
- Real-Time File/Stream Processing
- Web Application Development
- IoT Backend
Serverless Architecture, Segmentation by Industry Vertical
- BFSI
- IT & Telecom
- Healthcare
- Manufacturing
- Media & Entertainment
- Public Sector
- Retail & E-Commerce
A few of the well-known market leaders in the serverless architecture market that are profiled by Research Nester are Amazon Web Services, Inc., Microsoft Azure, Google Cloud Platform (GCP), IBM Corporation, and other key market players.
Recent Development in the Serverless Architecture Market
- To simplify enterprise adoption of cloud-native technologies, Oracle Cloud Infrastructure is expanding its application development portfolio with new containers, messaging services, and serverless capabilities.
- Amazon Web Services, Inc. provided Fargate 1.4. With this update of its serverless container platform, Docker Engine is no longer used and Elastic File System shared storage is supported.This release simplifies running stateful workloads in container programs.
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