Serverless Architectures Market is valued at USD 7234.3 Million in 2019 and expected to reach USD 28114.4 Million by 2026 with the CAGR of 21.4% over the forecast period
Constantly growing IoT environment and the increasing adoption of cloud-based IT solutions are key factors driving the growth of Global Serverless Architectures Market.
Scope of Global Serverless Architectures Market Report-
Serverless architecture also referred as serverless computing. Serverless architecture is an approach where the user can build and run applications and services without having to manage infrastructure. It is a software design pattern where applications are hosted by a third-party service, reducing the need for server software and hardware management by the developer. Through serverless architecture the user no longer has to provision, scale, and maintain servers to run applications, databases, and storage systems. By using a serverless architecture, developers can focus on their core product instead of worrying about managing and operating servers or runtimes, either in the cloud or on-premises. This reduced time and energy of developers that can be spent on developing great products which scale and that are reliable.
Key Players for Serverless Architectures -
Serverless architectures market report covers prominent players are Oracle Corporation, Platform9 Systems, Inc., Rackspace Inc., Amazon Web Services, Google LLC, IBM Corporation, Microsoft Corporation, Tibco Software, Twilio and others
News:
TIBCO Launched New Application Architecture Modernization Program
June 19th, 2020; TIBCO Software announced the launch of TIBCO Responsive Application Mesh, a blueprint and capabilities for modern application architecture. This new application helps customers towards architecture modernization through an incremental and iterative approach. This framework is integrated into the TIBCO Connected Intelligence platform and supports cloud-native development. It provides organizational agility and process efficiency as well as modernizes the application architecture via an iterative, incremental, and measurable approach.
The regions covered in this serverless architectures market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of serverless architectures is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Serverless Architectures Market Segmentation:–
By Deployment Model:
Private Cloud, Public Cloud
By Organization Size:
Large Enterprises, SMEs
By Application:
Real-time file/stream processing, Web Application Development, IoT Backend, Others
By Industry Vertical:
BFSI, IT & telecom, Healthcare, Manufacturing, Media & entertainment, Public sector, Retail & ecommerce, Others
Global Serverless Architectures Market Dynamics–
Constantly growing IoT environment and the increasing adoption of cloud-based IT solutions are key factors driving the growth of global serverless architectures markets. According to recent report of United Nations Conference on Trade and Development, IoT devices were an estimated to grow from 9.9 billion in 2019 to 21.5 billion in 2025 In the U.S. In addition, increase in the demand for the internet and a cloud-based system across several industries is also expected to boost the growth of the market in forecast period.
As per World Bank, from 2006 to 2016, the number of internet users has increased by nearly 28% from 206.01 million to 286.94 million in the U.S. Furthermore, increasing demand for useful apps in various platforms such as Android and iOS around the world is expected to drive the market in forcaste period. However, dearth of awareness among enterprises, lack of skilled IT professionals and rapid changes in IT operations may hamper the growth of serverless architectures market. In spite of that, adoption of technological advancements, raising awareness regarding the innovative cloud technologies and useful apps are predicted to create business opportunities for app developers operating in the serverless architectures market.
Global Serverless Architectures Market Regional Analysis –
North America is expected to dominate the global serverless architectures market due to the well-established cloud industry, growth in the software development sector and serverless architecture adoption for IoT applications, rise in the use of fast-emerging digital technologies and all internet-based services, presence of leading serverless architecture provider in this region. For instance, in 2016, IBM Launched Bluemix OpenWhisk, an Event-driven Programming Service. OpenWhisk’s event-driven approach, often called serverless computing, which is the process of developing and deploying new applications. In addition, in 2018, Microsoft announced Azure API Management for serverless architectures. It is a fully managed service that enables customers to publish, secure, transform, maintain, and monitor APIs.
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