Serverless Architecture Market Trends: Observe a Growth Spike at CAGR of 27.8% by 2025
Several benefits such as enhanced scalability and cost-efficiency of serverless architecture propel the serverless architecture market’s growth.
PORTLAND, PORTLAND, OR, UNITED STATES, September 8, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global serverless architecture market generated $3.01 billion in 2017, and is estimated to reach $21.99 Billion by 2025, growing at a CAGR of 27.8% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Surge in number of smartphones, increase in BYOD adoption, rise in number of applications, growing shift from DevOps to serverless computing, and rising need to eliminate server management challenges have led to significant growth of the global serverless architecture market.
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However, issues associated with third-party APIs restrict the market growth. On the other hand, emergence of serverless architecture applications in growing IoT landscape and growing cloud infrastructure services market would provide lucrative opportunities for the serverless architecture market.
The web application development segment held nearly half of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, the IoT backend segment is estimated to register the highest growth rate with a CAGR of 31.7% from 2018 to 2025.
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The IT and telecom segment held around one-fourth of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, the media and entertainment segment are estimated to register the highest growth rate with a CAGR of 31.4% from 2018 to 2025.
The large enterprises segment held more than two-thirds of the total market share in 2017, and will maintain its dominance throughout the forecast period. However, the SMEs segment is estimated to register the highest growth rate with a CAGR of 31.8% from 2018 to 2025.
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North America region accounted for nearly half of the market in terms of revenue in 2017. However, the Asia Pacific region is expected to grow at the highest CAGR of 31.0% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players analyzed in the research include the Amazon Web Services, Alibaba Group, Google LLC, Oracle Corporation, Microsoft Corporation, IBM Corporation, Platform9 Systems, Inc., Twilio, Rackspace Inc., and Tibco Software.
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Related Report:
1. Serverless Computing Market
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