According to the research report titled ‘Global Serverless computing market Size study, by Service (Professional, Managed), by Type (Hybrid Cloud, Multi-Cloud), by End user (IT & Telecommunication, BFSI, Retail, Government, Industrial, Other End-user Industries)and Regional Forecasts 2021-2027’, available with Market Study Report, global serverless computing market is slated to exhibit a compound annual growth rate of 22.7% during 2021-2027.
 

Features such as built-in scalability and unrestricted development & deployment, coupled with focus among startups to quickly scale-up and enhance their offerings are the factors driving the expansion of global serverless computing market.
 

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Additionally, organizations are switching to serverless computing as it enables them to achieve minimal lead time, thus enhancing their business values, which in turn is fueling up the progress of the industry.
 

Even though two-thirds of enterprises have already containerized around 10% of their applications but the risk of cyber-attacks and security malwares still remains a matter of grave concern. According to a survey by SaltStack, around 40% of the organizations are concerned that their container strategy is making insufficient investments in terms of cyber security.
 

On the contrary, as industries are switching to cloud services, there has been a steep rise in the possibility of cyber-attacks which can result in the loss of control on security. This factor might restrain the market development during the projected timeline.
 

By service, global serverless computing market is bifurcated into professional, and managed segments, whereas with respect to type, the fragmentation includes hybrid cloud, and multi cloud. Based on end user spectrum, the market sphere is split into BFSI, government, IT & telecommunication, industrial, retail, and others.
 

As per the report, regions like North America, Europe, Asia Pacific, and Latin America are considered to scrutinize the industry dynamics. Among these, North America market is anticipated to record a robust growth rate through 2027, owing to technological advancements, and presence of major companies in the region.
 

Leading players like Google LLC, Amazon Web Services. Inc, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Alibaba Group Holding Limited, Iron.io. Inc., SAP SE, Webtask.io, and VMware Inc. are profiled in the global serverless computing industry report.