Severless Apps Market is Expected to Grow at a CAGR of 16.6% through 2031

Severless apps market is expected to grow at a CAGR of 16.6% during the forecast period of 2021-2031. Serverless is a cloud-native development model that permits developers to build and run applications without having to manage servers.

There are still servers in serverless, which are abstracted away from app development. A cloud provider handles the work of maintaining, provisioning, and scaling the server infrastructure. Developers simply package the code in containers for deployment.

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What is Driving Demand for Severless Apps?

Serverless apps market is majorly driven by rapid app development, move from DevOps to serverless computing, and increasing need to eradicate management of servers. Moreover, benefits such improved scalability and cost-efficiency of serverless apps are positively impacting the market growth.

Also, continuous rise in the adoption of cloud technologies and the development of serverless computing in increasing IoT landscape are anticipated to give lucrative opportunities for the global market.

By adopting serverless apps, organizations can efficiently eliminate expensive traditional and time-consuming approaches. It helps in shifting the responsibility of managing servers, application logic, and databases, which eliminates set-up and maintenance costs.

BFSI is Expected to Hold the Largest Share of the Severless Apps Market by End-User

On the basis of end-user, the market for severless apps is segmented into BFSI, government & public, healthcare & life sciences, manufacturing, media & entertainment, retail & ecommerce, telecom & IT, and others. The banking, financial services, and insurance (BFSI) segment dominated the market in 2020 and is expected to grow with the same pace during the forecast period.

Major companies in the BFSI vertical have a substantial user base, deployment of serverless apps has allowed enterprises in auto-scaling to highly variable or an unpredictable demand and resulted in benefitting by handling a variety of functions.

Asia Pacific Demand Outlook for Severless Apps

Asia Pacific is accounted the highest CAGR and is anticipated to grow with the same pace in the upcoming years. Traditional IT infrastructure in the industries like retail, manufacturing, and BFSI are gradually shifting toward automation, which is positively influencing the market growth.

With the adoption of new cloud-based technologies, serverless apps is composed to witness substantial growth during the forecast period. Also, growing investments in digital transformation to eliminate the operational costs is predicted to be a major factor driving the market in Asia Pacific.

Who are the Key Manufacturers and Suppliers of Severless Apps?

Some of the leading players of severless apps market are

• Amazon Web Services Inc.
• CA Technologies
• Alibaba Cloud
• Dynatrace
• Galactic Fog IP Inc.
• Fiorano Software Inc.
• Google LLC
• Joyent Inc.
• IBM Corporation
• Microsoft Corporation

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