According to the business analysis report titled ‘Serverless Architecture Market Size By Service (API Management, Automation & Orchestration, Monitoring, Security, Support & Maintenance, Training & Consulting), By Organization Size (Large Enterprises, SMEs), By Deployment Model (Public, Private, Hybrid), By Application (IT & Telecom, BFSI, Retail, Healthcare, Government, Manufacturing, Media & Entertainment), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, the worldwide serverless architecture market is expected to amass strong returns during 2021-2027.
 

Experts cite that the increasing popularity of cloud computing and rising preference of consumers towards serverless solutions is aiding in the augmentation of the serverless architecture market.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/3976586/

Furthermore, technological advancements in cloud computing, increased usage of micro servers in small enterprises, elimination of complexities in server provisioning, and the demand for cloud computing in DevOps practices are anticipated to infuse substantial growth into the market over the forecast timeframe.

For the uninitiated, serverless architecture enables companies to develop and run applications without the presence of a managing infrastructure.

Elaborating on the impact of the ongoing Covid-19 pandemic, the global crisis has played a vital role in influencing the growth trajectory of the marketplace due to the requirement for cloud-based solutions in remote work models that simulate seamless business operations and reduced infrastructure maintenance.

Despite a positive industry outlook, challenges in the form of substandard skillsets in serverless architecture industry and critical security risks may impede growth over the forecast period.

Based on service, serverless architecture market industry is bifurcated into monitoring, support & maintenance, API management, security, automation & orchestration, and training & consulting. The security sub-segment is expected to witness a significant growth rate of 24% owing to increased dependence on serverless security.

Meanwhile, the training & consulting sub-segment is expected to expand at a robust pace of around 17% over the evaluation period due to the shortage of skilled cloud workers.

From the application perspective, the retail sub-segment is estimated to record a CAGR of more than 25% through 2027 owing to an increasing demand for serverless computing solutions to handle peak loads on e-commerce websites.

Meanwhile, government sub-segment is slated to witness an annual growth rate of 23% over the same timeframe due to a rise in the utilization of public cloud platforms by governing bodies.