The global serverless apps market size was worth around USD 3215 Million in 2022 and is predicted to grow to around USD 17350 Million by 2030 with a compound annual growth rate (CAGR) of roughly 23.45% between 2023 and 2030.
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➤ There is a growing desire to implement serverless technology in the healthcare sector in order to stimulate market expansion.
The global serverless apps market is expected to expand as a result of the increasing interest and investments of global leaders in the deployment of serverless apps and technology in the healthcare sector. In the aftermath of the pandemic, the medical sector has been rapidly transitioning to digital transformation. According to a 2021 article by TechMagic, the healthcare industry is experiencing a 19.3% increase in cloud migration. This can be attributed to the exponential increase in labor that occurred during and following the Covid-19 pandemic.
➤ The market growth is restricted by the relative novelty of serverless technology.
In the past few years, the serverless apps industry has experienced a significant quantity of technological advancements. The IT sector is constantly evolving, and many individuals or organizations that lack technical expertise find it challenging to remain informed. The global market growth is being restricted by a lack of knowledge regarding serverless applications, as a result of the fact that a significant number of businesses and organizations are still in the initial phase of deploying outmoded technologies and are not in accordance with the most recent IT trends.
➤ Private companies provide assistance to government initiatives in order to create market growth opportunities.
Serverless technology is being deployed and invested in by government sectors, including the military and other services, due to its immense potential. Private creators of serverless applications provide assistance to further accelerate the high adoption rate by assisting them in navigating the processes. The global serverless apps market is anticipated to generate numerous growth opportunities as a result of these factors, as other sectors may be motivated to incorporate the systems into their operational environments.
➤ Technological constraints that impede market expansion
The operation of high-operation computation is subject to certain constraints due to the involvement of third-party vendors. serverless technology may be deemed cost-ineffective by certain applications, even in the absence of these constraints. Additionally, there are security concerns, as the user and a third party are responsible for server security. The expansion of the serverless apps industry may be impeded by these factors.
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The Global Serverless Apps Market is segmented based on product, application and region
Global Serverless Apps Market: Product Segment Analysis
● Managed
● Professional
Global Serverless Apps Market: Application Segment Analysis
● BFSI
● IT & Telecommunication
● Government
● Retail
● Industrial
The global Serverless Apps market profiles key players such as:
● IBM Corporation
● Microsoft Corporation
● Amazon Web Services Inc.
● Alibaba Group Holding Ltd.
● Google LLC
● Oracle Corporation
● Rackspace Inc.
● Cisco Services Inc.
● TIBCO Software Inc.
● Platform9 Systems Inc
???? Recent Developments:
• Microsoft introduced Azure Container Apps in November 2021, a new serverless container service that is entirely managed and complements the company’s existing container infrastructure services, such as the Azure Kubernetes Service (AKS). The company has stated that the new container applications are specifically designed for microservices and offer rapid scaling capabilities that are based on HTTP traffic.
• Microsoft announced the general rollout of Azure Container Apps in May 2022. This news is accompanied by supplementary features, such as the ability to configure integrated Authentication and Authorization for external ingress-enabled apps and the ability to deploy them to a distinct virtual network to ensure app security. Users will be required to employ managed identities in order to access Azure Active Directory (AD) protected resources.
➤ The market is expected to be dominated by North America during the projection period.
North America is anticipated to generate the highest revenue in the global serverless applications market, as a result of an exceptionally high adoption rate and increased investments in cloud-based services. It is anticipated that the technological advancements in regions such as the United States and Canada will result in substantial regional revenue. North America is home to a significant number of key market participants, which may also contribute to their ability to secure a significant portion of the global market share. This is due to the strategic decisions that these entities have made to expand their global presence.
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