Serverless Architecture Market Research, Growth, Latest Innovations, Revenue, Price and Gross Margin Study with Forecasts to 2023 | COVID-19 Impact
Market Highlights
Serverless computing allows organizations to employ software without investing in the underlying infrastructure which is obtained from the developer and the service consumer. Serverless architecture facilitates organizations to concentrate on core business activities. Serverless architecture curtails the cost of technology operations to a large extent. The technique aids an enterprise to obliterate the need to administer infrastructures such as virtual machines, virtual and physical hosts, operating systems, containers, and others. Furthermore, serverless architecture charges the user only for the period of execution of the service which substantially eliminates costs. Serverless architecture is easy to integrate since capacity and scaling management and planning, and other administrative tasks linked with maintenance are supervised efficiently by the service provider.
The booming adoption of cloud computing is predicted to shape the serverless architecture market size in the forecast period. The easy deployment of serverless architecture functions is predicted to induce transformation in the global market over the coming period.
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Segmentation:
The global serverless architecture market is segmented based on organization size, industry vertical, and services. Based on organization size, the market is segmented into small & medium enterprises (SMEs) and large enterprises. Based on services, the market is segmented into API management, monitoring, monitoring, security, automation & integration, analytics, training & consulting, support & maintenance, and others. Based on industry vertical, the market is segmented into manufacturing, BFSI, retail & e-commerce, energy & utilities, telecommunication & IT, government, healthcare, transport & logistics, media & entertainment, and others.
Detailed Regional Analysis
The regional review of the serverless architecture market is conducted on the basis of the Middle East, Latin America, Europe, Africa, North America, and the Asia Pacific, which are the critical markets for serverless architecture. The regional market of North America is considered to be a strong market amid all the other regional markets. The presence of established economies such as Canada and the US, along with the focus of key players in the region, aids the progress of the serverless architecture market in North America. In Europe, the mounting investment in technology is projected to reflect encouragingly on the development of the Europe serverless architecture market despite the geopolitical restraints and turmoil in the region. In the regional market of the Asia Pacific, the serverless architecture market is motivated by a vast number of SMEs who are progressively implementing the technology. The other factors comprise of developing the economy and high spending on the expansion of IT infrastructure.
Competitive Analysis
The competition in the market is estimated to be focused on mitigating the effect of external forces rather than exclusively dealing with internal competition. The government role is estimated to be pronounced in the near term as their backing is essential to get the growth of regional markets on track. The market is also expected to emphasize on innovation to amplify the development scope in the global market. The need to integrate is projected to become even more prominent in the market in the upcoming period. The market is in a stage that requires careful and strategic planning to ensure that the growth achieved thus far is not compromised. The market is expected to revitalize its options for development as it overcomes this period of uncertainty in a careful and calibrated manner, the enhancement of the supply chains is estimated to focus on the incorporation of robotic assets so as to broaden the scope of supply that can be expected from the market on the whole.
The noteworthy development of the market is credited to companies such as Microsoft Corporation, IBM Corporation, CA Technologies, Amazon Web Services Inc., Oracle Corporation, Rackspace Inc., Dell Boomi Inc., Joyent Inc., Manjrasoft Pty Ltd., Alibaba Cloud, Twistlock, Fiorano Software Inc., Platform9 Systems Inc., TIBCO Software Inc., Google LLC, and others.
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