Serverless Computing Market Rising Trends, Technology Research and Precise Outlook 2021-2030

The Global Serverless Computing Market is expected to witness a growth rate of 28.2% from 2020-2030.

Serverless computing refers to cloud computing execution model where the cloud provider runs the server and also manages the overall allocation of the machine resources. It provides a significant cost benefit to the user as the pricing is decided based on actual amount of resources consumed by the application rather than the pre-purchased units of capacity. Serverless computing offers several other benefits such as scalability, flexibility and quicker release time.

Further, it enables quick deployment as it does not require any code to be uploaded to the server or perform any kind of backend configuration. In addition, the user does not need to bother about the maintenance and management of the server as they are managed by the vendors. This helps to reduce the overall investments on DevOps thereby helping the developers to create the applications regardless of the server capacity.

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Competitive Landscape

Some of the major players operating in the market are Google, Amazon, Microsoft Corporation, IBM Corporation, Oracle Corporation, Dynatrace, Joyent Inc., NTT Data Corporation among others. Companies are adopting new strategies such as new product development, strategic merger and acquisition among others. For instance, in 2019, Oracle extended serverless strategy in order to combat the complexities involved.

Market Dynamics and Trends

Rising demand for reducing the capital expenditure of businesses is driving the overall growth of serverless computing market. Physical servers depreciates and also remain vulnerable to the breakdowns, which add to capital expenditure. Adopting serverless computing helps organizations to reduce the need for greater human resource deployment as the overall focus is on batch processing. In addition, serverless computing allows organization to convert the overall workflow into step functions that reduces the number of SWF and EC2 issues. Together it reduces the overall company expenses in a significant manner.

Further, serverless computing offers organization technical support and clarity that are needed to process data, flexibility. In addition to this rising demand for green computing is also a major factor contributing to the overall market growth. With the changing climatic conditions, which is becoming a harmful across the globe, it is important for the organizations to be aware regarding the way they are operating. A helpful way to remain sustainable is to adopt serverless computing that has several benefits. For instance, the serverless computing ensures that organizations do not over utilize electricity. Further, with no physical servers and data centers around that emit harmful toxic radiation as they cool down, there would be lesser concern regarding human health and wellbeing.

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Market Segmentations and Scope of the Study:

The global serverless computing market has been segmented on the basis of enterprise, service and end-user. On the basis of end-user, the market has been segmented into small & medium enterprises and large enterprises. Based on services, the market has been segmented into automation and integration, application programming interface management, monitoring security, support and maintenance, training and consulting. Based on end-use, the market has been segmented into telecom & IT, BFSI Government & Public, Healthcare and Life Science, Media & Entertainment, Manufacturing Retail & E-commerce and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the market in 2019 and is expected to display similar trend in the coming years. Presence of key players such as Google, Microsoft Corporation Amazon among others is a major factor driving the market growth of serverless computing. Asia Pacific region is expected to witness fastest growth during the forecast period. Increasing digitization, modernization of the IT sector in the countries such as China India and Japan is triggering the overall market growth in the Asia Pacific region.

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