Serverless Architecture Market Is Predicted to Grow At More Than 25% CAGR From 2023 To 2032

 

As per a recent research report, Serverless Architecture Market to surpass USD 90 Bn by 2032.

Serverless Architecture Market is expected to grow exponentially through 2032, owing to the rising adoption of physical servers. Besides, expanding digitization across industries has resulted in increasing the adoption of cloud computing services, which have evolved further with the penetration of infrastructure-as-a-service (IaaS), software-as-a-service (SaaS), and platform-as-a-service (PaaS). All these factors are slated to positively impact the growth of the serverless architecture industry in the estimated timeframe.

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The market is expected to witness stagnant growth on account of the complexities of deploying serverless architecture and enterprises' heavy reliance on tech vendors. However, the extensive penetration of cloud computing services and cost benefits linked with cloud infrastructure results are anticipated to further escalate the market growth by 2032.

 

The key players operating in the global serverless architecture market are constantly engaging in investments in R&D, opening new data centers, and undertaking mergers, acquisitions, and partnerships to strengthen their presence in the industry. For example, Apple operates 8 data centers in the United States, Denmark, and China, with two more data centers under development in the United States and Europe.

Overall, the serverless architecture market is classified in terms of service, deployment model, organization size, application, and region.

Considering the service, the API management service segment is expected to exhibit 25% growth rate during 2023-2032. The growth can be attributed to the service's ability to reduce the internal complexity and time taken to run the microservices.

Based on the deployment model, the hybrid deployment model will demonstrate a 26% growth rate during the estimated timeframe. Better support for a remote workforce, improved scalability and control, reduced costs, increased agility and innovation, business continuity, improved security, and risk management are some of the key factors expected to transform the segment outlook over the forecast period.

On the basis of organization size, the SME segment is slated to witness massive growth through 2032, owing to the increasing adoption of cloud computing by SMEs. Cloud computing helps small companies improve their businesses and use technology more efficiently, which is slated to boost the demand further, thereby complementing the segmental growth.

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By application, the IT and telecom sector held a market share of over 23.5% in 2022 and is anticipated to register notable gains by 2032. Cloud technologies assist the telecom sector in focusing on essential business services rather than IT, server updates, or maintenance issues. In addition, cloud computing services have assisted the telecommunications sector in expanding its global reach using advanced technologies.

Regionally, the Asia Pacific serverless architecture market is expected to exhibit massive growth throughout the forecast timeframe. The growth can be attributed to the introduction of different initiatives and approaches for digital transformation by various central governments.

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