The serverless apps market revenue is estimated to total USD 9,745.2 Million in 2022. The serverless apps market is expected to reach USD 80,005.3 Million by 2032, growing at a CAGR of 23.4% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Estimated year (2022) Market Value | USD 9,745.2 Million |
| Projected year (2032) Market Value | USD 80,005.3 Million |
| CAGR% (2022 to 2032) | 23.4% |
| Top 5 Vendor Market Share | Around 35% |
The serverless apps market currently represents nearly 5% market share in the overall mobile application market. Serverless apps offer advantages such as it is a service offering, offered by a cloud provider, that controls, and maintains back-end services for mobile and web-based applications. Because of serverless apps consumers do not require to think about controlling the underlying architecture, physical and virtual hosts, containers, and virtual machines together with the operating systems related to the serverless application development. Thus, all the advantages offered by serverless apps are driving market growth.
With the increasing adoption of serverless architecture, organizations can efficiently reduce expensive time-consuming, and conventional approaches like buying new hardware components, configuring, installing, and troubleshooting, thus shifting the responsibility of controlling servers, application logic, and databases, which lowers maintenance and set up prices. Thus, the advantage offered by serverless apps is contributing to market development. There are various kinds of serverless technologies and types which include backend-as-a-service (BaaS), function-as-a-service (FaaS), serverless framework, and serverless databases.
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One of the most important benefits offered by serverless apps is the cost savings, mainly when differentiated from other cloud services. The serverless computing model not only pays for what users use but this model permits users to lower the price related to access authorization, presence detection, image processing, security, and more.
Software container technology powers serverless technology. Because the sellers control them, though it is invisible to the users. This permits serverless computing to manage the benefits of containerized microservices without complication. Thus, the technology present in serverless apps helps to maintain the operational functions of the serverless apps. Thus, the reduced development and operational costs are driving the serverless apps market demand.
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Due to the presence of significant players t, the serverless apps market in the North American region is reportedly relatively mature. The serverless apps market is reaching maturity in the Europe region as a result of the growing usage of serverless apps in the retail sector. Because of the growing need for serverless apps across many industry verticals, including BFSI, telecom, and retail, the market for serverless apps in South Asia and the Pacific is currently in its growth maturity period.
The serverless apps market demand is expected to increase at 23.4% CAGR between 2022 and 2032 in comparison with the 21.3% CAGR registered from 2017 to 2021. With the quick technological shift in the business environment, companies are launching new products and services thus concentrating on reduced time to market to meet the exponentially increasing consumer expectations. The growing importance of such trends is expected to drive the serverless apps market during the predicted period.
In the competitive marketplace, startups are expected to scale quickly and provide enhanced features for their products and services, thus enhancing their business values. Therefore, in order to attain minimum lead time and positively influence their business, they are expected to adopt serverless technology (serverless apps). Serverless architecture has appeared as an inventive step in leveraging cloud-based technologies to their full potential thus permitting enterprises to concentrate on their core product and services, instead of managing the traffic or load on their IT infrastructure. Thus, all these factors are driving the serverless apps market demand during the forecast period.
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The demand for mobile-based applications for businesses to connect with their clients is becoming more and more frequent, mainly with the growing usage of smartphones worldwide. Many businesses are shifting to applications as means to communicate with their customers and employees, and telecom companies are in a position to offer a service that answers this requirement. Telecom companies can utilize serverless computing technology and serverless apps to develop improved serverless offerings that improve connectivity and offer cost-efficient applications that are fast and reliable to deploy.
By offering consumers with these kinds of improved services telecom operators can compare themselves in a very congested market. This kind of service offering could be a crucial factor for consumers choosing a service provider. Thus, the continuous increase in the adoption of cloud technology with the usage of serverless apps in IoT technology is expected to boost the development of the serverless apps market development.
North America region is dominating the worldwide market with a share of around 32.9% in the year 2021. On the other hand, South Asia and the Pacific region are estimated to register strong growth in the market, exhibiting a CAGR of around 22.5% during the predicted period.
Moreover, Europe is estimated to be the second fastest-growing region in the serverless apps market. This region is predicted to grow with a market share of around 20.7% during the forecast period. In the European region due to the rapid advancement in technologies and the presence of several crucial players and the growing adoption of serverless apps among various industry verticals are expected to dominate the market.
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Increasing adoption of new cloud computing services and because of the high digitalization these factors contributing to the serverless apps market growth. Various benefits offered by serverless apps like reduction in price, simpler configuration, and hassle-free troubleshooting of the server differentiated from the conventional approach are expected to increase the market development. Due to these factors, sales in India are predicted to increase at the CAGR of 24.1% during the predicted period 2022 to 2032.
Increasing awareness about the advantages of serverless apps, like enhanced procedure agility and lower operational price, is one of the major factors driving the market growth in Germany. Other advantages offered by serverless apps such as faster setup, simpler operational management, and zero system administration are also the major drivers for the market development of the serverless apps market. According to the analysis, the nation held close to 12.5% of the market share for the region of Europe in 2021.
In the market for serverless apps, the USA held a 23.4% share of the North American market in 2021. The development of cloud-based technologies and third-party agents to control server components, as well as the presence of significant suppliers in the North American region is expected to drive the market growth. Many American businesses have started using serverless apps because they may save time and expensive traditional processes like buying new hardware components, configuring, installing, and debugging. As a result, the benefits provided by serverless apps are fueling the market.
Real-time data streaming involves ingesting and collecting a sequence of data from several data sources and processing that data in real-time to extract insight and meaning. Real-time data streaming permits users to process and analyze data in real-time instead of waiting hours, weeks, or days. Thus, the advantages offered by serverless apps are driving market growth. As a result, real-time file/stream processing accounted for 39.3% market share of the application segment in 2021.
Due to the rising demand for cloud automation, serverless apps are widely adopted by major businesses, and this trend is anticipated to continue over the forecasted period. Large businesses are heavily investing in cutting-edge technology to boost overall production and efficiency. Due to the ever-increasing volume of data, large businesses need to invest in IT infrastructure and have the necessary technological know-how to routinely automate a number of processes. Thus, serverless apps are highly utilized in large enterprises because of the benefits offered by serverless apps. The large enterprise segment held a 62.7% market share of the enterprise size segment in 2021.
Serverless applications fulfill various regulatory standards and constantly shift consumer expectations in the BFSI industry. Real-time applications are supported by serverless architecture, which also offers a scalable and secure platform for offering real-time information as needed by the BFSI sector. As a result, the BFSI industry offers vendors in the serverless apps market better development opportunities. As per the analysis, the BFSI segment is expected to grow at a CAGR of 17.3% during the forecast period from 2022 to 2032.
Serverless apps market major vendors are concentrating on strategic partnerships with other important players to develop technologically advanced serverless apps for several applications to serve their consumers.
| Attribute | Details |
|---|---|
| Market value in 2022 | USD 9,745.2 Million |
| Market CAGR 2022 to 2032 | 23.4% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa, and South Africa |
| Key Segments Covered | Application, Enterprise Size, Industry, and Region |
| Key Companies Profiled |
Amazon Web Services; Microsoft Corporation; Google LLC; IBM Corporation; Cisco Systems, Inc.; Oracle Corporation; Rackspace Technology; TIBCO Software Inc.; Serverless, Inc.; Cloudflare, Inc.; Netlify; NTT Data Corporation; Apache; Palo Alto Networks; Twistlock Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
South Asia and the Pacific are projected to register strong growth in the market, exhibiting a CAGR of nearly 22.5% during the forecast period. However, North America was leading the global market with a share of around 32.9% in 2021.
Key trends in the market include: • Serverless apps offer cost-efficient and simplified operations all these factors are driving the market growth. • Reduced development and operational cost features present in the serverless apps are driving the market demand.
The real-time file/stream processing segment is expected to dominate the market over the forecast period, generating maximum revenue, among all application segments, in the year 2022.
The serverless apps market was valued at USD 8,001.0 Million in 2021 and is estimated to grow at a substantial pace with a CAGR of 23.4% to reach USD 80,005.3 Million in 2032.
The large enterprise segment is expected to dominate the market over the forecast period, generating maximum revenue, among all enterprise sizes, in the year 2022.
The market in the last 5 years (2017 to 2021) grew by a CAGR of 21.3%.
Increasing adoption of serverless architecture across a wide range of applications and lowering data processing costs are driving the market demand.
East Asia is predicted to remain one of the most attractive markets during the forecast period 2022 to 2032. According to Future Market Insights, China accounted for nearly 7.5% market share of East Asia in 2021.
The global market growth between 2021 and 2022 is around 21.8%.
The top 5 countries driving demand for serverless apps include the USA, Germany, the United Kingdom, India, and Japan.
Europe is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, Germany is expected to account for 12.5% of the Europe market in 2021.
The serverless app demand in China and Japan is projected to register CAGR of around 19.2% and 21.9% respectively between 2022 and 2032.
Some of the leading companies in this landscape are Amazon Web Services, Microsoft Corporation, Google LLC, IBM Corporation, and Oracle Corporation, among others. As per Future Market Insights, nearly 35% of the market share is currently covered by the top players.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Pricing Analysis 5. Global Market Demand (in Value in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Market Background 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Real-Time File/Stream Processing 7.2. Web Application Development 7.3. IoT Backend 7.4. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Enterprise Size 8.1. SMEs 8.2. Large Enterprises 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Industry 9.1. IT and Telecommunication 9.2. BFSI 9.3. Retail 9.4. Government 9.5. Manufacturing 9.6. Others 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia & Pacific 10.6. Middle East & Africa 11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Key Countries Analysis - Market 18. Market Structure Analysis 19. Competition Analysis 19.1. Amazon Web Services 19.2. Microsoft Corporation 19.3. Google LLC 19.4. IBM Corporation 19.5. Cisco Systems, Inc. 19.6. Oracle Corporation 19.7. Rackspace Technology 19.8. TIBCO Software Inc. 19.9. Serverless, Inc. 19.10. Cloudflare, Inc. 19.11. Netlify 19.12. NTT Data Corporation 19.13. Apache 19.14. Palo Alto Networks 19.15. Twistlock Inc. 20. Assumptions and Acronyms Used 21. Research Methodology
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Serverless Apps Market
