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$21+ Billion Worldwide Serverless Architecture Industry to 2025 - Featuring Amazon, Google & Microsoft Among Others
DUBLIN, July 1, 2020 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
The total global serverless architecture market size is expected to grow from USD 7,585 million in 2020 to USD 21,105 million 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.
Monitoring services segment to grow at the highest CAGR during the forecast period.
Monitoring is a crucial factor in maintaining stability and protection of operation. A successful tracking program alerts customers of failures until they impact clients, helping easily correct them and retain a high degree of service for the consumers of the application. In a serverless context, monitoring becomes significantly more challenging due to the disparate nature of a serverless application. Performance management services provide quick troubleshoot and debugging and help in optimizing the performance of serverless functions.
Serverless architecture assists in breaking down of the application into micro components to perform discrete functions. These functions therefore need to be effectively monitored and managed. Monitoring services give a complete picture of the health of the serverless infrastructure by providing visibility across various cloud deployments and provide key network metrics. These services further help reduce blind spots by detecting issues with containers, load balancers, disconnected hosts, and third-party providers.
Banking, financial services and insurance vertical to account for the largest market size in 2020
Banking, Financial Services and Insurance (BFSI) is one of the major verticals that have leveraged the benefits of serverless architecture. The vertical collectively includes organizations that are into banking services, such as core banking, corporate, retail, investment, private, and cards; financial services, such as payment gateways, stockbroking, and mutual funds; and insurance services covering both life and general insurance policies.
The BFSI vertical is constantly evolving and is characterized by intense competition, worldwide expansion, consolidation, varied regulatory norms, and constantly changing consumer demands. The serverless architecture supports real-time applications and provides a scalable and secure platform for providing real-time information as required by the BFSI vertical. Hence, the BFSI vertical offers significant growth opportunities for vendors in the serverless architecture market.
Financial institutions are increasingly using serverless architecture for the automation of routing operations and facilitating cost reduction. Serverless architecture services enable the total view of customers and financial products and further drive customer retention and new customer acquisition. They also enable the efficient integration of multiple delivery channels for banks, which, in turn, is expected to help drive further growth of these services in the BFSI vertical.
Small and medium-sized enterprises segment to record a higher growth rate during the forecast period
The adoption of serverless architecture among SMEs is estimated to grow at a higher CAGR during the forecast period. SMEs face the greater challenge of limited budgets s compared to large enterprises, and require better methods to resolve complexities and optimize the cost of their business processes. There are serverless architecture solutions that can scale based on budget and resource requirements. Serverless architecture solutions are cost-effective and improves the productivity. The main focus of SMEs is to increase the ROI, which is possible with serverless architecture solutions.
North America to account for the highest market share during the forecast period
North America is expected to be the leader in the adoption and implementation of serverless architecture, followed by Europe and APAC. The presence of major serverless architecture providers in the region and increasing investments by North American companies in advanced technologies, would drive the market growth for North America. Moreover, the rising technological sophistication, technology adoption, and increasing demand in the region are expected to drive the high growth of the asset performance management market in APAC. The market players are also expanding their coverage in APAC.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Serverless Architecture Market
4.2 North America Serverless Architecture Market, by Deployment Model and Country
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Digital-Centric Business Model
5.2.1.2 Powerful Advantage to Streamline Operations
5.2.1.3 Future of Microservices Lies in Serverless and Function-As-A-Service
5.2.1.4 Increasing Number of Verticals Utilizing Distributed Workloads
5.2.2 Restraints
5.2.2.1 Compliance Concerns
5.2.2.2 Loss of Control Over the Infrastructure
5.2.3 Opportunities
5.2.3.1 New Marketplaces for Functions
5.2.3.2 Emergence of IoT Applications
5.2.3.3 Usage of Edge Computing With Serverless
5.2.4 Challenges
5.2.4.1 Cost-Efficiency for Long-Running Computation
5.2.4.2 Vendor Lock-In
5.3 Use Cases
5.3.1 Use Case 1: Banking, Financial Services and Insurance
5.3.2 Use Case 2: Retail and Consumer Goods
5.3.3 Use Case 3: Information Technology
5.3.4 Use Case 4: Manufacturing
5.3.5 Use Case 5: Media and Entertainment
6 Serverless Architecture Market, by Service Type
6.1 Introduction
6.2 Automation and Integration
6.2.1 Automation and Integration: Serverless Architecture Market Drivers
6.3 Monitoring
6.3.1 Monitoring: Market Drivers
6.4 API Management
6.4.1 API Management: Market Drivers
6.5 Security
6.5.1 Security: Market Drivers
6.6 Analytics
6.6.1 Analytics: Market Drivers
6.7 Design and Consulting
6.7.1 Design and Consulting: Serverless Architecture Market Drivers
6.8 Others
7 Serverless Architecture Market, by Deployment Model
7.1 Introduction
7.2 Public Cloud
7.2.1 Public Cloud: Market Drivers
7.3 Private Cloud
7.3.1 Private Cloud: Market Drivers
8 Serverless Architecture Market, by Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.2.1 Small and Medium-Sized Enterprises: Market Drivers
8.3 Large Enterprises
8.3.1 Large Enterprises: Market Drivers
9 Serverless Architecture Market, by Vertical
9.1 Introduction
9.2 Banking, Financial Services and Insurance
9.2.1 Banking, Financial Services and Insurance: Market Drivers
9.2.2 Impact of Covid-19 on Banking, Financial Services and Insurance
9.3 Telecommunications and It
9.3.1 Telecommunications and It: Market Drivers
9.3.2 Impact of Covid-19 on Telecommunications and It
9.4 Retail and Ecommerce
9.4.1 Retail and Ecommerce: Market Drivers
9.4.2 Impact of Covid-19 on Retail and Ecommerce
9.5 Healthcare and Lifesciences
9.5.1 Healthcare and Life Sciences: Market Drivers
9.5.2 Impact of Covid-19 on Healthcare and Life Sciences
9.6 Government and Public Sector
9.6.1 Government and Public Sector: Serverless Architecture Market Drivers
9.6.2 Impact of Covid-19 on Government and Public Sector
9.7 Manufacturing
9.7.1 Manufacturing: Market Drivers
9.7.2 Impact of Covid-19 on Manufacturing
9.8 Media and Entertainment
9.8.1 Media and Entertainment: Market Drivers
9.8.2 Impact of Covid-19 on Media and Entertainment
9.9 Others
9.9.1 Impact of Covid-19 on Others
10 Serverless Architecture Market, by Region
10.1 Introduction
10.2 North America
10.2.1 North America: Market Drivers
10.2.2 North America: Impact of Covid-19
10.2.3 United States
10.2.4 Canada
10.3 Europe
10.3.1 Europe: Market Drivers
10.3.2 Europe: Impact of Covid-19
10.3.3 United Kingdom
10.3.4 Germany
10.3.5 France
10.3.6 Rest of Europe
10.4 Asia-Pacific
10.4.1 Asia-Pacific: Serverless Architecture Market Drivers
10.4.2 Asia-Pacific: Impact of Covid-19
10.4.3 Australia and New Zealand
10.4.4 China
10.4.5 Japan
10.4.6 India
10.4.7 Rest of Asia-Pacific
10.5 Middle East and Africa
10.5.1 Middle East and Africa: Market Drivers
10.5.2 Middle East and Africa: Impact of Covid-19
10.5.3 Kingdom of Saudi Arabia
10.5.4 Qatar
10.5.5 United Arab Emirates
10.5.6 South Africa
10.5.7 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Latin America: Market Drivers
10.6.2 Latin America: Impact of Covid-19
10.6.3 Brazil
10.6.4 Mexico
10.6.5 Rest of Latin America
11 Competitive Landscape
11.1 Competitive Leader Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
12 Company Profiles
12.1 Introduction
12.2 Amazon
12.3 Google
12.4 Microsoft
12.5 IBM
12.6 Oracle
12.7 Alibaba
12.8 Cloudflare
12.9 NTT Data
12.10 Rackspace
12.11 Tibco Software
12.12 Stackpath
12.13 Auth0
12.14 Enterpriseweb
12.15 Kong
12.16 Serverless
12.17 Snyk
12.18 Openlegacy
12.19 Innominds
12.20 Stackery
12.21 Twistlock
12.22 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/s9d3un
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