LONDON--(BUSINESS WIRE)--The global serverless architecture market is expected to post a CAGR of over 26% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The reduction in operating cost will be one of the major drivers in the global serverless architecture market. The cost of purchasing, provisioning, and managing backend servers can be avoided by the end-users, who avail serverless architecture services. The on-premise deployment model includes expenses associated with licensing, system design and customization, implementation, training, and maintenance. As a result of these factors, the serverless architecture market will witness a boost in its growth during the forecast period.
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As per Technavio, the digital transformation of organizations and enterprises, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Serverless Architecture Market: Digital Transformation of Organizations and Enterprises
The digital transformation of organizations and enterprises will be one of the critical trends in the global serverless architecture market. Globally enterprises are adopting effective IT infrastructure to optimize their business operations. However, a physical setup includes significant infrastructure cost that primarily depends on server capacity and type. Moreover, in-house server infrastructure has limited storage and processing capacity. This has led to constant digital transformation to address the drawbacks associated with physical servers. The need for enterprises to scale-up their businesses at reduced cost has given rise to a serverless architecture as it can offer an unlimited number of servers for testing and deployments at low cost.
“The increasing popularity of SOA and the proliferation of the cloud deployment model are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Serverless Architecture Market: Segmentation Analysis
This market research report segments the global serverless architecture market by end-user (BFSI, government, telecommunication, healthcare, retail, media & entertainment, and other end-users) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market share in 2018, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the presence of leading vendors in the region and the availability of cloud solution-based technical expertise.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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