(EMAILWIRE.COM, March 03, 2025 ) Global Serverless Computing Market reached US$ 9.3 Billion in 2023 and is expected to reach US$ 40.9 Billion by 2031, growing with a CAGR of 20.6% during the forecast period 2024-2031.
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Market Driver
Rapid Growth in Cloud Computing
The widespread adoption of cloud infrastructure has paved the way for the expansion of serverless computing. As businesses increasingly migrate their applications to the cloud, they create an ideal environment for serverless technologies to thrive. Leading cloud service providers, including Microsoft Azure, Google Cloud Platform, and Amazon Web Services, have continuously developed and enhanced serverless computing solutions, making them more accessible and seamlessly integrated within the broader cloud ecosystem.
The rising awareness of serverless computing’s advantages such as scalability, cost-efficiency, and simplified development has fueled its adoption. Cloud providers have also played a key role in educating businesses on how to leverage serverless solutions effectively.
Additionally, the ever-evolving cloud landscape, driven by constant innovations and updates, has further accelerated the growth of serverless computing. By optimizing resource allocation and minimizing over-provisioning, serverless technology helps organizations achieve greater efficiency while reducing operational costs.
Market Segments
• By Services (Monitoring Services, API Management Services, Integration Services, Security, Support and maintenance, Others)
• By Deployment (Private Cloud, Public Cloud)
• By Enterprise Size (Large Enterprises, Small and Medium Enterprises)
• By Application (Web and Mobile Applications, IoT (Internet of Things)
• By End-User (BFSI, IT and Telecom, Retail, Healthcare, Manufacturing, Media and Entertainment, Others)
• By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Market Regional Share
North America Leads the Serverless Computing Market
North America holds the largest share of the global serverless computing market, driven by early adoption and continuous innovation in cloud technologies. The presence of major cloud service providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform has significantly contributed to the region’s market dominance. These companies offer serverless computing as part of their broader cloud solutions, further strengthening North America’s leadership in the industry.
Mergers and acquisitions among key players in the region have also fueled market growth.
For example, on August 29, 2023, Google Cloud Next and NVIDIA announced a partnership to enhance AI infrastructure and software, enabling businesses to build and deploy large-scale generative AI models while accelerating data science workloads. As part of this collaboration, Google integrated serverless Apache Spark with NVIDIA GPUs through its Dataproc service. This innovation optimizes Apache Spark workloads, helping data scientists accelerate data preparation for AI development.
Key Market Players
Key Players are Google LLC, Alibaba Cloud, CA Technologies, Microsoft Corporation oracle Corporation, Dynatrace, Fiorano Software Inc., Joyent Inc., Modubiz Ltd. and NTT Data Corporation.
Recent Developments
• On May 25, 2022, DigitalOcean, a US cloud infrastructure provider launched Nimbella-based serverless computing. DigitalOcean’s Functions product streamlines the underlying infrastructure tasks, enabling developers to swiftly write and deploy code without the necessity of delving into Kubernetes and container intricacies.
• On May 24, 2021, Imperva, Inc. launched a New Product to Secure Serverless Functions with Visibility into the Application Layer & Code-Level Vulnerabilities. Imperva Serverless Protection offers an additional layer of security for AWS Lambda environments.
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com
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