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According to TechSci Research report, “Serverless Computing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”, The Global Serverless Computing Market is poised for robust growth in the forecast period. Advancements in computing technology have enabled organizations to embrace serverless environments, significantly augmenting market expansion. Key benefits such as simplified development and deployment, inherent scalability, and cost efficiencies are pivotal in accelerating the adoption of serverless computing solutions, thereby driving market growth.
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By adopting serverless architecture, organizations can eliminate the complexities and costs associated with traditional approaches such as purchasing, configuring, and maintaining hardware components. This shift transfers the responsibility of managing servers, databases, and application logic to service providers, reducing setup and maintenance expenses.
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In today's rapidly evolving business landscape, companies are prioritizing accelerated time-to-market to meet escalating consumer expectations and launch new products and features swiftly. This trend is expected to further propel market growth as organizations seek efficient solutions to stay competitive. Startups, in particular, are anticipated to scale rapidly by leveraging serverless technology to enhance their product and service offerings, thereby enhancing their market value.
In conclusion, the adoption of serverless computing is poised to streamline operations, minimize lead times, and positively impact business outcomes, driving significant growth in the global serverless computing market.
Based on Service, the Professional segment emerged as the dominant segment in 2023. In the digital era, enterprises face increasing pressure to innovate and deliver new products and services that meet heightened customer expectations. Serverless architecture offers substantial advantages to SMEs, providing flexibility and reducing infrastructure costs.
Significant innovations in enterprise IT have enhanced business agility and resilience, driving cost efficiencies. Serverless computing has become integral for deploying cloud services and applications in today's dynamic business environment. Moreover, the adoption of hybrid and multi-cloud strategies in professional services has risen, enabling companies to allocate local resources efficiently for sensitive data or applications without substantial upfront investments.
Furthermore, the growth of microservices and serverless computing is reshaping DevOps by blurring the boundaries between development and operations. Organizations are rapidly scaling their capabilities to deliver enhanced features through innovative product and service offerings, thereby increasing their business value. However, security remains a critical concern for adopters and cloud service providers, necessitating ongoing collaboration with cybersecurity vendors to mitigate risks of cyber-attacks.
In terms of Region, North America is poised to dominate the market throughout the forecast period. The region is expected to capture the largest revenue share due to its rapid technological advancements and the presence of prominent players across various industries such as retail, BFSI, manufacturing, healthcare, and IT & Telecom. North America boasts a large user base, driven by high digitalization and widespread adoption of new cloud computing services by enterprises striving to maintain competitiveness and accelerate product innovation.
Moreover, startups like Lightbend Inc. are addressing the limitations of serverless computing for complex, data-intensive applications. In June last year, Lightbend introduced Akka Serverless, an open-source developer platform aimed at setting new standards for cloud-native application development.
As developers increasingly take ownership of application management, platforms automating IT infrastructure management without the need for IT operations teams are gaining traction. For instance, Render announced in June last year its capability to automatically scale compute and memory resources based on developers' real-time requirements, enhancing market growth opportunities.
Key market players in the Global Serverless Computing Market are: -
Amazon Web Services Inc.
Microsoft Corp.
Google LLC
Alibaba Group Holding Limited
SAP SE
IBM Corp.
Iron.io
Oracle Corp.
Webtask.io
VMware Inc.
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“The global serverless computing market is propelled by several key drivers. Cost efficiency is a primary factor, as serverless architectures enable organizations to pay only for resources used, reducing unnecessary expenses. Scalability is crucial, with serverless platforms automatically adjusting resources based on demand, ensuring optimal performance. Developer productivity is enhanced as serverless models abstract infrastructure management tasks, allowing teams to focus on coding and accelerating time-to-market. The rise of event-driven architecture aligns with serverless computing, contributing to increased system responsiveness. Reduced operational complexity, support for multiple programming languages, and seamless integration with DevOps practices further drive the widespread adoption of serverless computing, while continuous innovation by cloud providers sustains the market's growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Serverless Computing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Service (Professional, Managed), Type (Hybrid, Multi-Cloud), End-user Industry (IT & Telecommunication, BFSI, Retail, Government, Industrial), By Region, and By Competition 2019-2029” provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Serverless Computing Market.
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