Westford, USA, Dec. 09, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the serverless architecture market size will attain a value of USD 50.86 billion by 2031, with a CAGR of 22.8% over the forecast period (2024-2031). Increasing emphasis on the reduction of operational costs and growing adoption of cloud technologies are slated to bolster the global serverless architecture market growth. Rising adoption of OPEX approach by organizations to improve profitability and efficiency will also create new opportunities for serverless architecture providers through 2031.

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Browse in-depth TOC on "Serverless Architecture Market"

• Pages - 197
• Tables - 95
• Figures – 76

Serverless Architecture Market Overview:

Cost Efficiency of Public Cloud Allows it to Lead Serverless Architecture Demand Outlook

Public cloud is forecasted to account for a significant global serverless architecture market share in the future. High scalability, flexibility, and cost efficiency of public cloud make it a preferred choice for almost all serverless architecture companies around the world. Moreover, the high availability of a wide variety of public cloud platforms such as AWS Lambda, Microsoft Azure Functions, and Google Cloud Functions, will also bolster the dominance of this segment.

Demand for High Scalability in IT and Telecommunications Industry Makes it Fastest Growing Segment

IT and telecommunications end users are projected to present multiple new opportunities across the serverless architecture market forecast. Growing demand for highly scalable and flexible infrastructure in these industries to accommodate rapidly advancing technologies and solutions at an affordable cost will help this segment generate new business scope for serverless architecture providers through 2031 and beyond.

Presence of Major Tech Giants Aids the Dominance of North America in Global Serverless Architecture Market

North America is home to some of the most advanced tech companies in the world and this coupled with widespread adoption of serverless architecture across multiple organizations helps it emerge as the leading region in the global serverless architecture industry landscape. Targeting the United States will provide highly rewarding returns for all serverless architecture companies as cloud and IoT technology adoption picks up pace in the country.

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Serverless Architecture Market Insights:

Drivers

• Efforts of organizations to reduce their operational expenses and productivity enhancement
• Shift from CAPEX to OPEX approach in multiple organizations
• Rising adoption of cloud and IoT technologies

Restraints

• Vendor lock-in period may cause data migration issues
• Issues in compatibility with other systems
• Complexity of managing and maintaining serverless architecture systems

Prominent Players in Serverless Architecture Market

The following are the Top Serverless Architecture Companies

• Amazon Web Services (AWS) (US)
• Microsoft Corporation (US)
• Google LLC (US)
• IBM Corporation (US)
• Alibaba Cloud (China)
• Oracle Corporation (US)
• Cisco Systems, Inc. (US)
• VMware Inc. (US)
• Rackspace Technology Inc. (US)
• Salesforce.com Inc. (US)

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Key Questions Answered in Serverless Architecture Market Report

• Which region is expected to bring in the most revenue?

• Which end user will witness a robust hike in demand for serverless architecture?
• Who are the leading companies as per this serverless architecture market analysis?
• Why is public cloud preferred by serverless architecture providers?

This report provides the following insights:

• Analysis of key drivers (high emphasis on reducing operational costs, shift from CAPEX to OPEX approach), restraints (vendor lock-in period causing issues in data migration, complex management and maintenance), and opportunities (rising demand for edge computing and sustainable cloud computing) influencing the growth of serverless architecture market.
• Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.

• Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the serverless architecture market.
• Market Development: Detailed analysis of potential regions where the market has potential to grow.
• Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
• Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.

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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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