Serverless Architecture Market

Serverless Architecture Market Insights, Trends | Global Industry Report, 2023| MarketsandMarkets™

The serverless architecture market is expected to grow from USD 4.25 billion in 2018 to USD 14.93 billion by 2023, at a CAGR of 28.6% during the forecast period. Some of the major factors expected to drive the growth of the serverless architecture market include the elimination of the need to manage servers for reducing infrastructure costs and easing deployment, management, and execution, shift from the DevOps to the serverless computing, and proliferation of microservices architecture.

Companies such as AWS (US), Google (US), IBM (US), Microsoft US), and Alibaba (China) offer serverless architecture products and services for different verticals. These players have adopted various growth strategies, such as collaborations, partnerships, acquisitions, and new product launches and enhancements, to strengthen their positions in the market. Partnerships, collaborations, and agreements account for more than half of the share of the total growth strategies adopted by these leading players from March 2016 to April 2018.

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AWS is one of the leading vendors of the serverless architecture market. The company provides these architectures through its Lambda platform. Currently, AWS is working toward enhancing its market share and presence with the help of the strategy of business expansions in various regions across the globe. For instance, in July 2018, AWS expanded its Community Heroes program with the addition of 2 new communities, namely, AWS Serverless Heroes and AWS Container Heroes. It is also focusing on inorganic growth strategies to propel its growth in the serverless architecture market. For instance, in June 2018, AWS partnered with Formula One Group (Formula 1) to offer services to Formula 1.

Google, an established company in the market, has adopted both organic and inorganic growth strategies for providing the best customer experience by offering upgraded products and services with the help of collaborations and acquisitions of third-party businesses. In line with its organic growth strategies, in March 2017, the company launched reCAPTCHA, a beta of Cloud Functions for firebase. With this launch, users can now extend and connect firebase features using cloud functions which make firebase secure and easy to handle. For instance, in November 2016, Google acquired Apigee, a provider of software for predictive analytics and management of APIs. This acquisition was aimed at increasing Google’s focus on corporate clients and enterprise service offerings. With the help of acquisitions and mergers, the company has enhanced its product portfolio and this trend would continue in the future.

Related Reports:

Serverless Architecture Market by Service type (Automation and Integration, Monitoring, API Management, Security, Support & Maintenance, and Training & Consulting), Deployment Model, Organization Size, Verticals, and Region - Global Forecast to 2023

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Report Code
TC 6522
RI Published ON
8/10/2012
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