In 2022, it is predicted that the serverless apps market would generate US$ 9,745.2 Million in sales. The serverless apps market is anticipated to develop at a CAGR of 23.4% from 2022 to 2032, reaching US$ 80,005.3 Million.
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What is Driving Demand for Serverless Apps?
Serverless apps market is majorly driven by rapid app development, move from DevOps to serverless computing, and increasing need to eradicate management of servers. Moreover, benefits such improved scalability and cost-efficiency of serverless apps are positively impacting the market growth.
Also, continuous rise in the adoption of cloud technologies and the development of serverless computing in increasing IoT landscape are anticipated to give lucrative opportunities for the global market.
By adopting serverless apps, organizations can efficiently eliminate expensive traditional and time-consuming approaches. It helps in shifting the responsibility of managing servers, application logic, and databases, which eliminates set-up and maintenance costs.
BFSI is Expected to Hold the Largest Share of the Serverless Apps Market by End-User
On the basis of end-user, the market for serverless apps is segmented into BFSI, government & public, healthcare & life sciences, manufacturing, media & entertainment, retail & ecommerce, telecom & IT, and others. The banking, financial services, and insurance (BFSI) segment dominated the market in 2020 and is expected to grow with the same pace during the forecast period.
Major companies in the BFSI vertical have a substantial user base, deployment of serverless apps has allowed enterprises in auto-scaling to highly variable or an unpredictable demand and resulted in benefitting by handling a variety of functions.
This further helps in optimizing the bank workflow, offers quick responses, and upsurges customer satisfaction. As banks focus on enhancing the customer services by innovative technologies, serverless apps has reduced developer’s operational burden and improved performance and overall productivity.
North America Serverless Apps Demand Outlook
North America is one of the largest markets for serverless apps across the globe. The growth is majorly attributed to the presence of the major players in the region. U.S. is the major contributor to the regional market. It has further strengthened the market with industries such as manufacturing, BFSI, retail, healthcare, boosting of a large user base.
Enterprises are continuously innovating and adopting new technologies and delivering to new features to stay competitive in the market. Additionally, North America happens to be the most rapidly changing and competitive market across the globe. Also, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries across the globe.
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Asia Pacific Demand Outlook for Sever less Apps
Asia Pacific is accounted the highest CAGR and is anticipated to grow with the same pace in the upcoming years. Traditional IT infrastructure in the industries like retail, manufacturing, and BFSI are gradually shifting toward automation, which is positively influencing the market growth.
With the adoption of new cloud-based technologies, serverless apps is composed to witness substantial growth during the forecast period. Also, growing investments in digital transformation to eliminate the operational costs is predicted to be a major factor driving the market in Asia Pacific.
Who are the Key Manufacturers and Suppliers of Sever less Apps?
Some of the leading players of sever less apps market are
-Amazon Web Services Inc.
-CA Technologies
-Alibaba Cloud
-Dynatrace
-Galactic Fog IP Inc.
-Fiorano Software Inc.
-Google LLC
-Joyent Inc.
-IBM Corporation
-Microsoft Corporation
-Twistlock.
-Key Segments
By Services:
Automation & Integration
API Management
Monitoring
Security
Support and Maintenance
Training and Consulting
Others
By Enterprise Size:
Large Enterprise
SME
By End-User:
BFSI
Government & Public
Healthcare & Life Sciences
Manufacturing
Media & Entertainment
Retail & Ecommerce
Telecom & IT
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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