Serverless Architecture Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Serverless Architecture Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 10, 2024 /EINPresswire.com/ — The global serverless architecture market is set for substantial growth, projected to expand from $11.77 billion in 2023 to $14.57 billion in 2024, marking a compound annual growth rate (CAGR) of 23.8%. This growth trajectory underscores the market’s evolution driven by advancements in computing technology, scalability benefits, and the automation of traditional server management tasks. The market is anticipated to reach $33.36 billion by 2028, growing at a CAGR of 23.0%, supported by increased adoption across industries and enhanced scalability capabilities.

Rising Need for Serverless Computing for DevOps Practices Drives Market Growth
The adoption of serverless computing for DevOps practices is a key driver propelling the serverless architecture market forward. This cloud computing paradigm enables developers to create and deploy applications without managing traditional infrastructure concerns like capacity planning or maintenance. It facilitates automatic scaling, reduces operational complexity, and accelerates the deployment of microservices. For instance, in January 2024, AAG IT reported significant growth in Infrastructure as a Service (IaaS) revenues, underlining the pervasive adoption of cloud services across various sectors. This trend aligns with projections indicating continued growth in cloud infrastructure spending, reflecting the rising demand for serverless solutions in DevOps environments.

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Key Players and Market Trends
Leading companies such as Google LLC, Microsoft Corporation, and Amazon Web Services Inc. are at the forefront of developing advanced serverless solutions. These innovations include sophisticated serverless technologies that enable efficient application development and deployment. For example, DigitalOcean Holdings Inc. introduced DigitalOcean Functions in May 2022, a serverless solution designed to empower developers and businesses with rapid app development capabilities. This initiative underscores the market’s focus on delivering fast, scalable, and cost-effective solutions that streamline infrastructure management and enhance operational efficiency.

In a strategic move, major players continue to innovate in serverless technologies, enhancing their offerings with robust features that cater to diverse customer needs. This competitive landscape drives product development aimed at delivering superior serverless capabilities across various applications and industries.

Segments
• Service: Automation And Integration, Application Programming Interfaces (APIs) Management, Monitoring, Security, Support And Maintenance, Training And Consulting, Other Services
• Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud
• Organization: Large Enterprise, Small And Medium-Sized Enterprises (SMEs)
• Application: Real-Time File And Stream Processing, Web Application Development, IoT Backend
• Vertical: Information Technology (IT) And Telecommunications, Banking, Financial Services And Insurance (BFSI), Retail, Healthcare, Government, Manufacturing, Media And Entertainment, Other Verticals

Geographical Insights: North America Leading, Asia-Pacific Growing Rapidly
North America dominated the serverless architecture market in 2023, driven by early adoption and robust technological infrastructure. Meanwhile, Asia-Pacific is poised to emerge as the fastest-growing region during the forecast period, fueled by increasing digital transformation initiatives and expanding cloud adoption across enterprises.

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Serverless Architecture Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Serverless Architecture Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on serverless architecture market size, serverless architecture market drivers and trends, serverless architecture market major players, competitors’ revenues, market positioning, and market growth across geographies. The serverless architecture market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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