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Global Serverless Computing Market to Grow at a CAGR of 22.2% During 2022-2027, Aided by the Rising Adoption of Cloud Infrastructure

According to a new report by EMR titled, ‘Global Serverless Computing Market Report and Forecast 2022-2027’, the global market for serverless computing is estimated to grow at a CAGR of 22.2% in the forecast period of 2022-2027.

North America holds a significant share of the serverless computing market owing to the increasing adoption of cloud infrastructure, which is surging the deployment of serverless computing. The rising demand for serverless computing among start-ups due to its low investment and minimal server maintenance is significantly contributing to the market growth.  As various small businesses are increasingly digitising to boost their profitability, the demand for serverless computing owing to their cost-effectiveness and ease-of-use is increasing, which is driving the growth of the market. Moreover, the growing demand for innovative and advanced features in web and mobile applications by users is surging the deployment of serverless computing, which is significantly contributing to the market growth. With rapid technological advancements in the United States and Canada, the adoption of serverless computing is expected to significantly surge, which is anticipated to bolster the market growth in the forecast period.

Amazon Web Services Inc. (NASDAQ: AMZN), one of the leading companies in the market, announced the general availability of its AWS Proton platform in June 2021. The platform is an application delivery service that makes it easier for platform operators to provide, monitor, and deploy microservices based on serverless applications. Its self-service interface can be deployed by developers to select application stacks for using while automating provisioning resources for selected applications, thus enabling the development of serverless and container applications easily. The platform also enables companies to easily deploy serverless computing applications and manage serverless applications. Such initiatives are increasing the deployment of serverless computing and propelling the growth of the market.

Market Analysis by Service, Type, End User Industry, and Region:

  • The market, on the basis of service, can be divided into professional and managed.
  • Based on type, the industry can be divided into hybrid cloud and multi-cloud.
  • The end user industries include IT and telecommunication, BFSI, retail, government, and industrial, among others.
  • The regional markets for serverless computing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing use of serverless computing by business owners to boost user-experience, scalability, and reliability while lowering their capital expenditure on IT infrastructure is driving the market growth.
  • The growing deployment of serverless computing in the development of mini-programs, mobile applications, and web applications, among others, and enabling pay-as-go-method is propelling the market growth.
  • The growing focus on sustainability is leading to a surge in the adoption of serverless computing to eliminate IT hardware use, which is augmenting the market growth.
  • The market is being aided by the rising demand for innovative technological solutions by consumers, which, in turn, is surging the utilisation of serverless computing to bolster consumer experience.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for serverless computing for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the services, types, end user industries, and major regions of serverless computing.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global serverless computing market are Amazon Web Services Inc., Microsoft Corp., Google LLC, Alibaba Group Holding Limited, SAP SE, IBM Corp., and Oracle Corp., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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