Global Serverless Computing Market Report and Forecast 2024-2032

Global Serverless Computing Market Outlook

The global serverless computing market is expected to grow in the forecast period of 2024-2032 at a CAGR of 22.2%.

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Rising Demand for Cost-Effective Computing Services Bolstering the Market for Serverless Computing

The market for serverless computing is being aided by the increasing demand for cost-effective computing. The increasing attempts by various organisations to lower their capital expenses on IT infrastructure is surging the adoption of serverless computing. As businesses are increasingly striving to boost user-experiences, they are deploying serverless computing for enhanced scalability and reliability, which is propelling the market growth. Moreover, the low maintenance and high security offered by serverless computing are surging its use, hence driving the growth of the market. The high security provided by serverless computing is increasing their adoption, which is providing further impetus to the industry growth.

The increasing accessibility to mobile phones and internet connectivity is leading to a surge in the development of web applications, mini-programs, and mobile applications, among others. With the low resource utilisation of such developments, the adoption of serverless computing for eliminating operational and maintenance costs while enabling a pay-as-you-go-method is significantly surging. Moreover, organisations are leveraging serverless computing to decrease the standard release time of web and mobile applications owing to the growing competitiveness, which is driving the growth of the market.

Serverless Computing: Market Segmentation

Serverless computing is an execution method of cloud computing that provides blackened services on as pay-as-you-go basis. It boosts the cost-effectiveness of organisations while improving reliability, scalability, and time-to-market while reducing operational expenditure. Serverless computing is used in major industries like manufacturing, IT, and banking, among others.

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The major services of serverless computing are:

• Professional
• Managed

The market can be broadly categorised on the basis of its types into:

• Hybrid Cloud 
• Multi-Cloud

Based on end user industry, the market is divided into:

• IT and Telecommunication
• BFSI
• Retail
• Government
• Industrial
• Others

The EMR report looks into the regional markets of serverless computing like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Focus on Sustainability to Bolster the Growth of the Serverless Computing Industry

As organisations are increasingly focusing on sustainability, they are deploying serverless computing to eliminate the use of IT hardware and boost energy-efficiency. In addition, serverless computing aids organisations to achieve their environmental, social, and governance (ESG) targets by reducing their overall carbon footprint, thereby bolstering the market growth. The increasing compatibility of serverless computing with various program execution methods is also surging its adoption. Moreover, the development of a unified platform of serverless computing for edge and cloud platforms is anticipated to augment the growth of the market in the forecast period.

With the growing technological innovations, consumers are demanding more innovative and advanced solutions. This, in turn, is surging the deployment of serverless computing to use microservices while enabling organisations rapid go-to-market while boosting consumer experiment, which is expected to bolster the market growth. Moreover, the growing demand for innovative features and services of existing applications is estimated to propel the growth of the serverless computing industry. Furthermore, the rising accessibility of serverless computing is predicted to provide impetus to the market growth in the coming years.

Key Industry Players in the Global Serverless Computing Market

The report presents a detailed analysis of the following key players in the global serverless computing market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Amazon Web Services Inc.
• Microsoft Corp.
• Google LLC
• Alibaba Group Holding Limited
• SAP SE
• IBM Corp.
• Oracle Corp.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report