The serverless apps market revenue is estimated to total USD 9,745.2 Million in 2022. The serverless apps market is expected to reach USD 80,005.3 Million by 2032, growing at a CAGR of 23.4% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Estimated year (2022) Market Value | USD 9,745.2 Million |
| Projected year (2032) Market Value | USD 80,005.3 Million |
| CAGR% (2022 to 2032) | 23.4% |
| Top 5 Vendor Market Share | Around 35% |
The serverless apps market currently represents nearly 5% market share in the overall mobile application market. Serverless apps offer advantages such as it is a service offering, offered by a cloud provider, that controls, and maintains back-end services for mobile and web-based applications. Because of serverless apps consumers do not require to think about controlling the underlying architecture, physical and virtual hosts, containers, and virtual machines together with the operating systems related to the serverless application development. Thus, all the advantages offered by serverless apps are driving market growth.
With the increasing adoption of serverless architecture, organizations can efficiently reduce expensive time-consuming, and conventional approaches like buying new hardware components, configuring, installing, and troubleshooting, thus shifting the responsibility of controlling servers, application logic, and databases, which lowers maintenance and set up prices. Thus, the advantage offered by serverless apps is contributing to market development. There are various kinds of serverless technologies and types which include backend-as-a-service (BaaS), function-as-a-service (FaaS), serverless framework, and serverless databases.
One of the most important benefits offered by serverless apps is the cost savings, mainly when differentiated from other cloud services. The serverless computing model not only pays for what users use but this model permits users to lower the price related to access authorization, presence detection, image processing, security, and more.
Software container technology powers serverless technology. Because the sellers control them, though it is invisible to the users. This permits serverless computing to manage the benefits of containerized microservices without complication. Thus, the technology present in serverless apps helps to maintain the operational functions of the serverless apps. Thus, the reduced development and operational costs are driving the serverless apps market demand.
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Due to the presence of significant players t, the serverless apps market in the North American region is reportedly relatively mature. The serverless apps market is reaching maturity in the Europe region as a result of the growing usage of serverless apps in the retail sector. Because of the growing need for serverless apps across many industry verticals, including BFSI, telecom, and retail, the market for serverless apps in South Asia and the Pacific is currently in its growth maturity period.
The serverless apps market demand is expected to increase at 23.4% CAGR between 2022 and 2032 in comparison with the 21.3% CAGR registered from 2017 to 2021. With the quick technological shift in the business environment, companies are launching new products and services thus concentrating on reduced time to market to meet the exponentially increasing consumer expectations. The growing importance of such trends is expected to drive the serverless apps market during the predicted period.
In the competitive marketplace, startups are expected to scale quickly and provide enhanced features for their products and services, thus enhancing their business values. Therefore, in order to attain minimum lead time and positively influence their business, they are expected to adopt serverless technology (serverless apps). Serverless architecture has appeared as an inventive step in leveraging cloud-based technologies to their full potential thus permitting enterprises to concentrate on their core product and services, instead of managing the traffic or load on their IT infrastructure. Thus, all these factors are driving the serverless apps market demand during the forecast period.
The demand for mobile-based applications for businesses to connect with their clients is becoming more and more frequent, mainly with the growing usage of smartphones worldwide. Many businesses are shifting to applications as means to communicate with their customers and employees, and telecom companies are in a position to offer a service that answers this requirement. Telecom companies can utilize serverless computing technology and serverless apps to develop improved serverless offerings that improve connectivity and offer cost-efficient applications that are fast and reliable to deploy.
By offering consumers with these kinds of improved services telecom operators can compare themselves in a very congested market. This kind of service offering could be a crucial factor for consumers choosing a service provider. Thus, the continuous increase in the adoption of cloud technology with the usage of serverless apps in IoT technology is expected to boost the development of the serverless apps market development.
North America region is dominating the worldwide market with a share of around 32.9% in the year 2021. On the other hand, South Asia and the Pacific region are estimated to register strong growth in the market, exhibiting a CAGR of around 22.5% during the predicted period.
Moreover, Europe is estimated to be the second fastest-growing region in the serverless apps market. This region is predicted to grow with a market share of around 20.7% during the forecast period. In the European region due to the rapid advancement in technologies and the presence of several crucial players and the growing adoption of serverless apps among various industry verticals are expected to dominate the market.
Increasing adoption of new cloud computing services and because of the high digitalization these factors contributing to the serverless apps market growth. Various benefits offered by serverless apps like reduction in price, simpler configuration, and hassle-free troubleshooting of the server differentiated from the conventional approach are expected to increase the market development. Due to these factors, sales in India are predicted to increase at the CAGR of 24.1% during the predicted period 2022 to 2032.
Increasing awareness about the advantages of serverless apps, like enhanced procedure agility and lower operational price, is one of the major factors driving the market growth in Germany. Other advantages offered by serverless apps such as faster setup, simpler operational management, and zero system administration are also the major drivers for the market development of the serverless apps market. According to the analysis, the nation held close to 12.5% of the market share for the region of Europe in 2021.
In the market for serverless apps, the USA held a 23.4% share of the North American market in 2021. The development of cloud-based technologies and third-party agents to control server components, as well as the presence of significant suppliers in the North American region is expected to drive the market growth. Many American businesses have started using serverless apps because they may save time and expensive traditional processes like buying new hardware components, configuring, installing, and debugging. As a result, the benefits provided by serverless apps are fueling the market.
Real-time data streaming involves ingesting and collecting a sequence of data from several data sources and processing that data in real-time to extract insight and meaning. Real-time data streaming permits users to process and analyze data in real-time instead of waiting hours, weeks, or days. Thus, the advantages offered by serverless apps are driving market growth. As a result, real-time file/stream processing accounted for 39.3% market share of the application segment in 2021.
Due to the rising demand for cloud automation, serverless apps are widely adopted by major businesses, and this trend is anticipated to continue over the forecasted period. Large businesses are heavily investing in cutting-edge technology to boost overall production and efficiency. Due to the ever-increasing volume of data, large businesses need to invest in IT infrastructure and have the necessary technological know-how to routinely automate a number of processes. Thus, serverless apps are highly utilized in large enterprises because of the benefits offered by serverless apps. The large enterprise segment held a 62.7% market share of the enterprise size segment in 2021.
Serverless applications fulfill various regulatory standards and constantly shift consumer expectations in the BFSI industry. Real-time applications are supported by serverless architecture, which also offers a scalable and secure platform for offering real-time information as needed by the BFSI sector. As a result, the BFSI industry offers vendors in the serverless apps market better development opportunities. As per the analysis, the BFSI segment is expected to grow at a CAGR of 17.3% during the forecast period from 2022 to 2032.
Serverless apps market major vendors are concentrating on strategic partnerships with other important players to develop technologically advanced serverless apps for several applications to serve their consumers.
| Attribute | Details |
|---|---|
| Market value in 2022 | USD 9,745.2 Million |
| Market CAGR 2022 to 2032 | 23.4% |
| Share of top 5 players | Around 35% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Malaysia, Indonesia, Singapore, Australia & New Zealand, GCC Countries, Turkey, North Africa, and South Africa |
| Key Segments Covered | Application, Enterprise Size, Industry, and Region |
| Key Companies Profiled |
Amazon Web Services; Microsoft Corporation; Google LLC; IBM Corporation; Cisco Systems, Inc.; Oracle Corporation; Rackspace Technology; TIBCO Software Inc.; Serverless, Inc.; Cloudflare, Inc.; Netlify; NTT Data Corporation; Apache; Palo Alto Networks; Twistlock Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Table 01: Global Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 02: Global Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 03 Global Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 04: Global Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 05: Global Market Value (US$ Million) Analysis (2017 to 2021) By Industry
Table 06: Global Market Value (US$ Million) Forecast (2022 to 2032) By Industry
Table 07: Global Market Value (US$ Million) Analysis (2017 to 2021) by Region
Table 08: Global Market Value (US$ Million) Forecast (2022 to 2032) by Region
Table 09: North America Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 10: North America Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 11: North America Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 12: North America Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 13: North America Market Value (US$ Million) Analysis (2017 to 2021) By Industry (1/2)
Table 14: North America Market Value (US$ Million) Forecast (2022 to 2032) By Industry (1/2)
Table 15: North America Market Value (US$ Million) Analysis (2017 to 2021) by Country
Table 16: North America Market Value (US$ Million) Forecast (2022 to 2032) by Country
Table 17: Latin America Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 18: Latin America Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 19: Latin America Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 20: Latin America Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 21: Latin America Market Value (US$ Million) Analysis (2017 to 2021) By Industry (1/2)
Table 22: Latin America Market Value (US$ Million) Forecast (2022 to 2032) By Industry (1/2)
Table 23: Latin America Market Value (US$ Million) Analysis (2017 to 2021) by Country
Table 24: Latin America Market Value (US$ Million) Forecast (2022 to 2032) by Country
Table 25: Europe Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 26: Europe Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 27: Europe Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 28: Europe Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 29: Europe Market Value (US$ Million) Analysis (2017 to 2021) By Industry
Table 30: Europe Market Value (US$ Million) Forecast (2022 to 2032) By Industry
Table 31: Europe Market Value (US$ Million) Analysis (2017 to 2021) by Country
Table 32: Europe Market Value (US$ Million) Forecast (2022 to 2032) by Country
Table 33: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 34: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 35: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 36: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 37: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) By Industry
Table 38: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) By Industry
Table 39: South Asia and Pacific Market Value (US$ Million) Analysis (2017 to 2021) by Country
Table 40: South Asia and Pacific Market Value (US$ Million) Forecast (2022 to 2032) by Country
Table 41: East Asia Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 42: East Asia Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 43: East Asia Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 44: East Asia Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 45: East Asia Market Value (US$ Million) Analysis (2017 to 2021) By Industry
Table 46: East Asia Market Value (US$ Million) Forecast (2022 to 2032) By Industry
Table 47: East Asia Market Value (US$ Million) Analysis (2017 to 2021) by Country
Table 48: East Asia Market Value (US$ Million) Forecast (2022 to 2032) by Country
Table 49: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) By Application
Table 50: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) By Application
Table 51: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) By Enterprise Size
Table 52: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) By Enterprise Size
Table 53: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) By Industry
Table 54: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) By Industry
Table 55: Middle East and Africa Market Value (US$ Million) Analysis (2017 to 2021) by Country
Table 56: Middle East and Africa Market Value (US$ Million) Forecast (2022 to 2032) by Country
Figure 01: Global Market Size (US$ Million) and Y-o-Y Growth Rate from 2022 to 2032
Figure 02: Global Market Size and Y-o-Y Growth Rate from 2022 to 2032
Figure 03: Global Market Value (US$ Million), 2017 to 2021
Figure 04: Global Market Value (US$ Million), 2022 to 2032
Figure 05: Global Market Value Share Analysis (2022 to 2032) By Application
Figure 06: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 07: Global Market Attractiveness By Application
Figure 08: Global Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 09: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 10: Global Market Attractiveness By Enterprise Size
Figure 11: Global Market Value Share Analysis (2022 to 2032) By Industry
Figure 12: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 13: Global Market Attractiveness By Industry
Figure 14: Global Market Value Share Analysis (2022 to 2032) by Region
Figure 15: Global Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Region
Figure 16: Global Market Attractiveness by Region
Figure 17: North America Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 18: Latin America Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 19: Europe Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 20: East Asia Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 21: South Asia and Pacific Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 22: Middle East and Africa Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 23: North America Market Value (US$ Million), 2017 to 2021
Figure 24: North America Market Value (US$ Million), 2022 to 2032
Figure 25: North America Market Value Share Analysis (2022 to 2032) By Application
Figure 26: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 27: North America Market Attractiveness By Application
Figure 28: North America Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 29: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 30: North America Market Attractiveness By Enterprise Size
Figure 31: North America Market Value Share Analysis (2022 to 2032) By Industry
Figure 32: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 33: North America Market Attractiveness By Industry
Figure 34: North America Market Value Share Analysis (2022 to 2032) by Country
Figure 35: North America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country
Figure 36: North America Market Attractiveness by Country
Figure 37:USA Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 38: Canada Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 39: Latin America Market Value (US$ Million), 2017 to 2021
Figure 40: Latin America Market Value (US$ Million), 2022 to 2032
Figure 41: Latin America Market Value Share Analysis (2022 to 2032) By Application
Figure 42: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 43: Latin America Market Attractiveness By Application
Figure 44: Latin America Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 45: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 46: Latin America Market Attractiveness By Enterprise Size
Figure 47: Latin America Market Value Share Analysis (2022 to 2032) By Industry
Figure 48: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 49: Latin America Market Attractiveness By Industry
Figure 50: Latin America Market Value Share Analysis (2022 to 2032) by Country
Figure 51: Latin America Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country
Figure 52: Latin America Market Attractiveness by Country
Figure 53: Brazil Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 54: Mexico Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 55: Rest of Latin America Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 56: Europe Market Value (US$ Million), 2017 to 2021
Figure 57: Europe Market Value (US$ Million), 2022 to 2032
Figure 58: Europe Market Value Share Analysis (2022 to 2032) By Application
Figure 59: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 60: Europe Market Attractiveness By Application
Figure 61: Europe Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 62: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 63: Europe Market Attractiveness By Enterprise Size
Figure 64: Europe Market Value Share Analysis (2022 to 2032) By Industry
Figure 65: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 66: Europe Market Attractiveness By Industry
Figure 67: Europe Market Value Share Analysis (2022 to 2032) by Country
Figure 68: Europe Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country
Figure 69: Europe Market Attractiveness by Country
Figure 70: Germany Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 71: Italy Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 72: France Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 73: United Kingdom Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 74: Spain Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 75: BENELUX Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 76: Russia Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 77: Rest of Europe Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 78: South Asia and Pacific Market Value (US$ Million), 2017 to 2021
Figure 79: South Asia and Pacific Market Value (US$ Million), 2022 to 2032
Figure 80: South Asia and Pacific Market Value Share Analysis (2022 to 2032) By Application
Figure 81: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 82: South Asia and Pacific Market Attractiveness By Application
Figure 83: South Asia and Pacific Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 84: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 85: South Asia and Pacific Market Attractiveness By Enterprise Size
Figure 86: South Asia and Pacific Market Value Share Analysis (2022 to 2032) By Industry
Figure 87: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 88: South Asia and Pacific Market Attractiveness By Industry
Figure 89: South Asia and Pacific Market Value Share Analysis (2022 to 2032) by Country
Figure 90: South Asia and Pacific Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country
Figure 91: South Asia and Pacific Market Attractiveness by Country
Figure 92: India Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 93: Indonesia Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 94: Malaysia Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 95: Singapore Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 96: Australia& New Zealand Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 97: Rest of South Asia and Pacific Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 98: East Asia Market Value (US$ Million), 2017 to 2021
Figure 99: East Asia Market Value (US$ Million), 2022 to 2032
Figure 100: East Asia Market Value Share Analysis (2022 to 2032) By Application
Figure 101: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 102: East Asia Market Attractiveness By Application
Figure 103: East Asia Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 104: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 105: East Asia Market Attractiveness By Enterprise Size
Figure 106: East Asia Market Value Share Analysis (2022 to 2032) By Industry
Figure 107: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 108: East Asia Market Attractiveness By Industry
Figure 109: East Asia Market Value Share Analysis (2022 to 2032) by Country
Figure 110: East Asia Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country
Figure 111: East Asia Market Attractiveness by Country
Figure 112: China Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 113: Japan Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 114: South Korea Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 115: Middle East and Africa Market Value (US$ Million), 2017 to 2021
Figure 116: Middle East and Africa Market Value (US$ Million), 2022 to 2032
Figure 117: Middle East and Africa Market Value Share Analysis (2022 to 2032) By Application
Figure 118: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Application
Figure 119: Middle East and Africa Market Attractiveness By Application
Figure 120: Middle East and Africa Market Value Share Analysis (2022 to 2032) By Enterprise Size
Figure 121: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Enterprise Size
Figure 122: Middle East and Africa Market Attractiveness By Enterprise Size
Figure 123: Middle East and Africa Market Value Share Analysis (2022 to 2032) By Industry
Figure 124: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) By Industry
Figure 125: Middle East and Africa Market Attractiveness By Industry
Figure 126: Middle East and Africa Market Value Share Analysis (2022 to 2032) by Country
Figure 127: Middle East and Africa Market Value Y-o-Y Growth Trend Analysis (2019 to 2032) by Country
Figure 128: Middle East and Africa Market Attractiveness by Country
Figure 129: GCC Countries Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 130: Turkey Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 131: South Africa Market Absolute $ Opportunity (US$ Million), 2017 to 2032
Figure 132: Rest of Middle East and Africa Market Absolute $ Opportunity (US$ Million), 2017 to 2032
South Asia and the Pacific are projected to register strong growth in the market, exhibiting a CAGR of nearly 22.5% during the forecast period. However, North America was leading the global market with a share of around 32.9% in 2021.
Key trends in the market include: • Serverless apps offer cost-efficient and simplified operations all these factors are driving the market growth. • Reduced development and operational cost features present in the serverless apps are driving the market demand.
The real-time file/stream processing segment is expected to dominate the market over the forecast period, generating maximum revenue, among all application segments, in the year 2022.
The serverless apps market was valued at USD 8,001.0 Million in 2021 and is estimated to grow at a substantial pace with a CAGR of 23.4% to reach USD 80,005.3 Million in 2032.
The large enterprise segment is expected to dominate the market over the forecast period, generating maximum revenue, among all enterprise sizes, in the year 2022.
The market in the last 5 years (2017 to 2021) grew by a CAGR of 21.3%.
Increasing adoption of serverless architecture across a wide range of applications and lowering data processing costs are driving the market demand.
East Asia is predicted to remain one of the most attractive markets during the forecast period 2022 to 2032. According to Future Market Insights, China accounted for nearly 7.5% market share of East Asia in 2021.
The global market growth between 2021 and 2022 is around 21.8%.
The top 5 countries driving demand for serverless apps include the USA, Germany, the United Kingdom, India, and Japan.
Europe is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, Germany is expected to account for 12.5% of the Europe market in 2021.
The serverless app demand in China and Japan is projected to register CAGR of around 19.2% and 21.9% respectively between 2022 and 2032.
Some of the leading companies in this landscape are Amazon Web Services, Microsoft Corporation, Google LLC, IBM Corporation, and Oracle Corporation, among others. As per Future Market Insights, nearly 35% of the market share is currently covered by the top players.
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