Serverless Apps Market Is Expected To Generate A Revenue Of USD 37.66 billion By 2030

The latest market report published by Credence Research, Inc. “Global Serverless Apps Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global Serverless apps market has witnessed steady growth in recent years and is expected to grow at a CAGR of 22.50% between 2023 and 2030. The market was valued at USD 9.1 billion in 2022 and is expected to reach USD 37.66 billion in 2030.

The serverless apps market is a rapidly growing segment of the technology industry that revolves around the development and deployment of applications without the need to manage traditional server infrastructure. In serverless computing, cloud service providers automatically manage the underlying hardware and infrastructure, allowing developers to focus solely on writing code and defining the application's functionality.

This paradigm shift has gained popularity due to its scalability, cost-efficiency, and ease of development. Organizations across various industries are increasingly adopting serverless technology to build and run applications, leveraging its advantages in agility, reduced operational complexity, and the ability to handle variable workloads seamlessly. As businesses continue to embrace digital transformation, the serverless apps market is expected to expand further, offering new opportunities and solutions for software development and deployment.

Here are some of the major challenges and risks associated with serverless computing:

Vendor Lock-In: Serverless platforms are offered by cloud providers, and once an organization builds its applications on a specific provider's infrastructure, it can be challenging to migrate to another provider. This creates a risk of vendor lock-in, potentially limiting flexibility and increasing long-term costs.

Limited Control over Infrastructure: Serverless abstracts away much of the underlying infrastructure, which can be advantageous for ease of use. However, it also means that organizations have limited control over the environment, making it difficult to fine-tune performance or security settings to meet specific needs.

Cold Start Latency: Serverless functions can experience latency when they are invoked, especially if they need to start from a "cold" state. This latency can impact real-time applications that require instant response times.

Security Concerns: While cloud providers invest heavily in security, serverless apps still face security challenges. Organizations must ensure that their serverless functions are configured securely, and data protection measures are in place to prevent unauthorized access.

Some of the major players in the market and their market share are as follows:

·         Amazon Web Services

·         Microsoft Corporation

·         Google LLC

·         IBM Corporation

·         Cisco System, Inc

·         Oracle Corporation

·         Rackspace Technology

·         TIBCO Software Inc.

Browse 232 pages report Serverless Apps Market By Applications (Real-Time File/Stream Processing, Web Application Development, IoT Backend, Others) By Enterprise Size Types (SMEs, Large Enterprises) By Industry Type (IT & Telecommunication, BFSI, Retail, Government, Manufacturing, Others)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030 - https://www.credenceresearch.com/report/serverless-apps-market

Here are some of the notable growth trends in the serverless apps market:

Rapid Adoption of Serverless Computing: Organizations are increasingly adopting serverless computing as it offers cost-effective, scalable, and hassle-free infrastructure management. Serverless apps allow businesses to focus on code development rather than server provisioning and maintenance.

Microservices Architecture: Serverless computing aligns well with microservices architecture, enabling organizations to break down complex applications into smaller, independent components. This approach enhances agility, scalability, and fault tolerance.

Event-Driven Applications: Serverless apps excel in event-driven scenarios, making them ideal for real-time data processing, IoT applications, and chatbots. Event-driven architecture allows apps to respond instantly to various triggers.

Multi-Cloud and Hybrid Deployments: The flexibility of serverless computing enables businesses to deploy applications across multiple cloud providers or in hybrid environments, reducing vendor lock-in and enhancing redundancy.

Market Segmentation

By Applications

·         Real-Time File/Stream Processing

·         Web Application Development

·         IoT Backend

·         Others

By Enterprise Size Types

·         SMEs

·         Large Enterprises

By Industry Type

·         IT & Telecommunication

·         BFSI

·         Retail

·         Government

·         Manufacturing

·         Others

Why to Buy This Report-

·         The report provides a qualitative as well as quantitative analysis of the global Serverless Apps Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.

·         The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.

·         Major nations in each region with their import/export statistics

·         The global Serverless Apps Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.

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