Serverless Architecture Market Research Report- Forecast till 2023
The need to do away with costly physical infrastructure is estimated to promote the serverless architecture market 2020. The ICT reports are produced by Market Research Future, which features market options for expansion. The market is predicted to leverage a strong CAGR in the forecast period for growth.
The booming adoption of cloud computing is predicted to shape the serverless architecture market size in the forecast period. The easy deployment of serverless architecture functions is predicted to induce transformation in the global market over the coming period.
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The segmental evaluation of the serverless architecture market has been conducted based on organization size, services, region, and industry vertical. On the basis of industry vertical, the serverless architecture market has been segmented into manufacturing, healthcare, government, telecommunication & IT, BFSI, retail & e-commerce, media & entertainment, energy & utilities, transport & logistics, and others. Based on the services, the serverless architecture market has been segmented into API management, monitoring, automation & integration, security, training & consulting, analytics, support & maintenance, and others. On the basis of organization sizes, the serverless architecture market has been segmented large enterprises and into small & medium enterprises. Based on the regions, the serverless architecture market has been segmented into the Middle East, Latin America, Europe, Africa, North America, and the Asia Pacific.
Detailed Regional Analysis
The regional review of the serverless architecture market is conducted on the basis of the Middle East, Latin America, Europe, Africa, North America, and the Asia Pacific, which are the critical markets for serverless architecture. The regional market of North America is considered to be a strong market amid all the other regional markets. The presence of established economies such as Canada and the US, along with the focus of key players in the region, aids the progress of the serverless architecture market in North America. In Europe, the mounting investment in technology is projected to reflect encouragingly on the development of the Europe serverless architecture market despite the geopolitical restraints and turmoil in the region. In the regional market of the Asia Pacific, the serverless architecture market is motivated by a vast number of SMEs who are progressively implementing the technology. The other factors comprise of developing the economy and high spending on the expansion of IT infrastructure.
The competition in the market is estimated to be focused on mitigating the effect of external forces rather than exclusively dealing with internal competition. The government role is estimated to be pronounced in the near term as their backing is essential to get the growth of regional markets on track. The market is also expected to emphasize on innovation to amplify the development scope in the global market. The need to integrate is projected to become even more prominent in the market in the upcoming period. The market is in a stage that requires careful and strategic planning to ensure that the growth achieved thus far is not compromised. The market is expected to revitalize its options for development as it overcomes this period of uncertainty in a careful and calibrated manner, the enhancement of the supply chains is estimated to focus on the incorporation of robotic assets so as to broaden the scope of supply that can be expected from the market on the whole.
The noteworthy development of the market is credited to companies such as Microsoft Corporation, IBM Corporation, CA Technologies, Amazon Web Services Inc., Oracle Corporation, Rackspace Inc., Dell Boomi Inc., Joyent Inc., Manjrasoft Pty Ltd., Alibaba Cloud, Twistlock, Fiorano Software Inc., Platform9 Systems Inc., TIBCO Software Inc., Google LLC, and others.
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The global serverless architecture market is expected to witness highly positive growth over the upcoming forecast period. Serverless architecture relies on the cloud to provide scalable IT infrastructure for enterprises at every size. Used primarily in enterprise IT, serverless architecture is in high demand due to the number of benefits it offers users. The increased need to manage and optimize infrastructure costs is perhaps one of the most significant drivers of the market