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3. Key players adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the Serverless Architecture Market

The global serverless architecture market size is projected to grow from USD 7.6 billion in 2020 to USD 21.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.7% during the forecast period. The major factors driving the growth of the serverless architecture market include the rising need of shifting from CAPEX to OPEX by removing the need to manage servers, thereby reducing the infrastructure cost.

Major serverless architecture vendors include Amazon (US), Google (US), Microsoft (US), IBM (US), Oracle (US), Alibaba (China), Cloudflare (US), NTT DATA (Japan), Rackspace (US), TIBCO Software (US), Stackpath (US), AUTH0 (US), EnterpriseWeb (US), Kong (US), and Serverless (US). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements to expand their presence in the serverless architecture market. Product enhancements and collaborations have been the most adopted strategies by major players from 2017 to 2020, which helped companies innovate their offerings and broaden their customer base.

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Amazon Web Service (AWS) is one of the leading players in the serverless architecture market. AWS serverless platform is a one-,stop solution which includes data storage, application integration services, analytics, API gateway, compute, and orchestration. Users are charged for the platform only for the compute time they have consumed. The platform handles everything required to run and scale codes with high availability. The company caters to its customer base in more than 190 countries.

Google is another established player and a globally recognized vendor of cloud and serverless architecture. Google Cloud’s serverless platform enables to write code without worrying about the underlying infrastructure. Deploy functions or apps as source code or as containers. Easily build full stack serverless applications with Google Cloud’s storage, databases, machine learning, and more. Extend applications with event-driven computing from Google or third-party service integrations. The serverless workloads can be moved to on-premises environments or to the cloud.

Related Reports:

Serverless Architecture Market by Service Type (Automation and Integration, Monitoring, API Management, Security, Analytics, and Design and Consulting), Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2025

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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