New York, NY, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Serverless Architecture Market By Service Type (Automation and Integration Services, API Management Services, Monitoring Services, Security, Support and Maintenance, Training and Consulting, and Others), By Deployment Model (Private Cloud and Public Cloud), and By Vertical (Banking, Financial Services, and Insurance (BFSI), Government Sector, General Manufacturing, Healthcare Sector, IT and Telecommunications, Media and Entertainment, Retail, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global serverless architecture market was valued USD 3.46 billion in 2017 and is expected to reach around USD 18.04 billion by 2024, at a CAGR approximately 27.24% from 2018 to 2024.

Serverless architecture is also known as function as a service (FaaS) or serverless computing. The use of virtual servers does not eliminate the physical hardware concerns, and thus, it demands a certain level of management and process. With a serverless architecture, the developer is able to focus entirely on the application code without worrying about the physical hardware, web server software management, and virtual machine operating system.

Browse through 78 Tables & 38 Figures spread over 210 Pages and in-depth TOC on “Global Serverless Architecture Market Size & Share 2017: Industry Type, Growth, Trends, Segments, Analysis and Forecast to 2024”.

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Serverless architecture is attracting a significant response in the tech industries, as it is an ideal business implementation possibility with this cloud computing execution model, the cloud providers can easily manage the allocation and provisioning of servers. Moreover, a serverless architecture allows the enterprises to entirely focus on their core products or services instead of handling the traffic load of their IT infrastructure. With the service, the users can rely on a third-party server, thereby reducing the deployment time. The serverless architecture market is anticipated to witness massive growth, owing to the proliferation of machine learning, IoT and artificial intelligence. Moreover, the rising need to shift from DevOps to the serverless computing and rapidly increasing microservices architecture are some other factors projected to steer serverless architecture market. An increasing number of users and growing adoption of new technologies related to digital and media content is anticipated to boost the demand for well-organized and secured serverless architecture across IT and telecommunication sector. Retail is another major sector that is likely to contribute lucratively toward this market, due to the rise in the consumers’ purchasing power. Introduction of online shopping has resulted in online retailers to adopt innovative technologies, such as big data analytics, cloud computing, social networks, and digital stores.

The serverless architecture market is segregated based on service type, vertical, and deployment model. The service type segment includes automation and integration services, monitoring services, training and consulting, security, API management services, support and maintenance, and others (metering and billing, reporting, and analytics services). The automation and integration segment is anticipated to hold the largest market share during the estimated timeframe. An automation service efficiently manages the microservices and provides a faster response with optimum resource utilization. The deployment model is bifurcated into the private and public cloud. The verticals of the serverless architecture include banking, financial services, and insurance (BFSI), government sector, general manufacturing, healthcare sector, IT and telecommunications, media and entertainment, retail, and others (energy and utilities, transportation and logistics, travel and hospitality, and education).

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North America is anticipated to hold a significant share in the global serverless architecture market, owing to the presence of two developed economies, i.e., the U.S. and Canada. One of the major factors contributing toward the regional expansion of the serverless architecture market is the early adoption of new cloud computing technologies. Additionally, the strong financial position of the U.S. and Canada is likely to enable the region in investing more in the leading services of serverless architecture. Moreover, the presence of some renowned players in the U.S. has also molded this regional market. Flourishing BFSI, healthcare, general manufacturing, and retail sectors are likely to further contribute toward this regional market’ growth in the ensuing years. Enterprises in this region are continuously working on new features and adopting new technologies to remain competitive in the dynamic market and to deliver new and innovative products. All these factors are likely to open new vistas of growth for the market players and new entrants across the region.

Asia Pacific is also expected to witness significant growth, owing to the presence of traditional IT infrastructure that is increasingly shifting toward automation. Moreover, serverless computing is poised to witness substantial growth in the upcoming years, as firms are implementing new cloud-based technologies. Furthermore, the rising investments made for digital transformation to reduce the cost of operation are projected to be the key growth factor of the Asia Pacific serverless architecture market.

Browse the full "Serverless Architecture Market By Service Type (Automation and Integration Services, API Management Services, Monitoring Services, Security, Support and Maintenance, Training and Consulting, and Others), By Deployment Model (Private Cloud and Public Cloud), and By Vertical (Banking, Financial Services, and Insurance (BFSI), Government Sector, General Manufacturing, Healthcare Sector, IT and Telecommunications, Media and Entertainment, Retail, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" Report At https://www.zionmarketresearch.com/report/serverless-architecture-market

Certain prominent players in the serverless architecture market include Amazon Web Services, Inc., Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Alibaba Cloud, CA Technologies, Fiorano Software, ModuBiz Ltd., NTT Data, Manjrasoft Pty Ltd., TIBCO Software Inc., Rackspace Inc., Galactic Fog IP, Inc., and Platform9 Systems, Inc.

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This report segments the serverless architecture market are as follows:

Global Serverless Architecture Market: By Service Type

  • Automation and Integration Services
  • API Management Services
  • Monitoring Services
  • Security
  • Support and Maintenance
  • Training and Consulting
  • Others (Metering and Billing, Reporting, and Analytics Services)

Global Serverless Architecture Market: By Deployment Model

  • Private Cloud
  • Public Cloud

Global Serverless Architecture Market: By Vertical

  • Banking, Financial Services, and Insurance (BFSI)
  • Government Sector
  • General Manufacturing
  • Healthcare Sector
  • IT and Telecommunications
  • Media and Entertainment
  • Retail
  • Others (Energy and Utilities, Transportation and Logistics, Travel and Hospitality, and Education)

Global Serverless Architecture Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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