Application that are dependable on third-party services, are known as serverless architecture. It uses services such as backhand as a service (BaaS), function as a service (FaaS), or mobile backend as a service (MaaS). Serverless architecture does not require server infrastructure at the customer’s end, which results in reduced cost of servers and maintenance, which is a major factor driving growth of the global serverless architecture market. However, rising threat of data security concerns may hamper growth of the target market.
The global serverless architecture market report has been segmented on the basis of service type, deployment, end user, and region. On the basis of service type, the market is segmented into security, API management, automation, consulting and training, monitoring, support and maintenance, and others. Currently, automation segment holds a major share in terms of revenue in the global market, owing to high efficiency management of micro services.
On the basis of deployment, the market is segmented into public cloud and private cloud. On the basis of end user, the market is segmented into IT and telecommunication, financial services and banking, government institutions, retail and e-commerce, media and entertainment, and others. Media and entertainment segment is expected to witness significant growth in terms of revenue over the forecast period.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, the market in North America dominates the global market in terms of revenue, owing to well established IT sector and rising adoption of latest technology among end users this region. Additionally, availability of technical expertise is another factor fueling growth of the global serverless architecture market in North America region. Market in Asia Pacific is expected to witness fastest growth, owing to growing adoption of cloud computing services in this region.
Key players operating in the global serverless architecture market include Google LLC, Amazon Web Services (AWS), International Business Machines Corporation (IBM), Microsoft Corporation, Oracle Corporation, CA Technologies, Rackspace US, Inc., Alibaba Group Holding Limited, aTIBCO Software Inc., and Platform9 Systems, Inc.