Serverless architecture market expected to reach USD 78.12 billion by 2032, driven by innovation
From GlobeNewswire: 2025-01-24 09:00:00
The Serverless Architecture Market was valued at USD 10.21 Billion in 2023 and is projected to reach USD 78.12 Billion by 2032, with a CAGR of 25.42% from 2024 to 2032. The market growth is driven by innovation and cost efficiency, with notable advancements like Coherence’s serverless deployment solutions for AWS and GCP.
Companies are turning to serverless architectures to address their IT needs affordably and at scale. With IT services spend set to hit USD 1.6 trillion in 2024, serverless options eliminate traditional server management, allowing businesses to focus on coding while cloud providers handle infrastructure. Recent advancements like serverless deployment solutions are further fueling market growth.
The market for serverless architectures is expected to expand further with technological advancements. Innovations like OpenMetal’s exploration of serverless computing using OpenStack and Kong’s Konnect Serverless Gateways are enhancing functionalities. Incorporating AI and machine learning will enable more self-sufficient operations, expanding the influence of serverless architecture in edge computing and IoT industries.
The IT & Telecom sector led the Serverless Architecture Market in 2023, capturing around 26% of revenue share. On the other hand, the Healthcare segment is projected to experience the fastest growth with a CAGR of 29.07% from 2024 to 2032. Serverless architecture offers agility, cost-efficiency, and enhanced security, making it a favorable choice for both sectors.
In 2023, the Public Cloud segment dominated the Serverless Architecture Market with about 58% of revenue share. Meanwhile, the Hybrid Cloud segment is expected to grow at the fastest CAGR of approximately 27.67% from 2024 to 2032. Companies are increasingly adopting hybrid cloud solutions to combine public cloud scalability with private cloud security and management benefits.
North America held the largest revenue share of approximately 40% in the Serverless Architecture Market in 2023, while Asia Pacific is poised for the fastest growth. The market’s ongoing expansion is supported by the seamless integration of serverless architecture with leading cloud services, as well as the rise of microservices in modern application development. North America leads in serverless innovation with advanced tech infrastructure and key providers like AWS, Microsoft, and Google. The region’s demand for scalable solutions across industries solidifies its dominance. In contrast, the Asia Pacific is expected to grow rapidly at a CAGR of 28.41% from 2024 to 2032 driven by digital transformation and cloud adoption.
Key developments include Alibaba Cloud’s cost-cutting serverless solution, Fauna and Cloudflare’s partnership for faster development, and IBM’s Quantum Serverless for optimized resource management. These innovations are shaping the future of serverless architecture globally.
SNS Insider offers consulting services such as Go-To-Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking. With a focus on providing accurate market data and insights, SNS Insider aims to empower clients to make informed decisions in a rapidly changing business landscape.
Read more at GlobeNewswire: Serverless Architecture Market to Hit USD 78.12 Billion by