Dublin, Aug. 20, 2018 (GLOBE NEWSWIRE) -- The "Serverless Architecture Market by Service type (Automation and Integration, Monitoring, API Management, Security, Support & Maintenance, and Training & Consulting), Deployment Model, Organization Size, Verticals, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The serverless architecture market is expected to grow from USD 4.25 billion in 2018 to USD 14.93 billion by 2023, at a CAGR of 28.6% during the forecast period. It is expected to witness massive growth, due to factors such as the elimination of the need to manage servers for reducing infrastructure costs and easing deployment, management, and execution, shift from the DevOps to the serverless computing, and proliferation of microservices architecture. The increasing adoption of cloud-based applications and emergence of IoT applications are expected to provide growth opportunities for serverless architecture vendors. The serverless architecture market has been demonstrating considerable growth, but the lack of security and strict compliances may restrain the growth of this market .

Based on service types, the automation and integration services segment is expected to lead the serverless architecture market from 2018 to 2023. Automation services help efficiently manage microservices, which are deployed on hybrid IT platforms, to provide faster response along with optimum resource utilization. Integration services combine and consolidate the data and function of multiple microservices. Automation and integration services need to be carefully designed for promoting portability and adopting the microservice-based architecture that is required while implementing serverless architecture. On the basis of deployment models, the public cloud deployment model is expected to grow at a higher CAGR during the forecast period. The growth of the public cloud segment can be majorly attributed to its high adoption among cloud storage providers, ease of access, and faster deployment. The serverless architecture market has been segmented on the basis of organization size into large enterprises and SMEs. The large enterprises segment is expected to lead the market from 2018 to 2023. The adoption of serverless architecture services among the large enterprises is expected to be high, owing to the ever-increasing demand for cloud automation and this trend is expected to continue during the forecast period. The large enterprises are heavily investing in advanced technologies to increase their overall productivity and efficiency. Based on verticals, the media and entertainment vertical is expected to grow at the highest CAGR during the forecast period. In the past, media and entertainment companies faced the challenge of managing and supporting complex workflows, and new data formats with uncertain revenue and monetization. To manage the enormous volume of digital media and data generated across applications, serverless architecture offers an attractive solution. It enables the media and entertainment companies to manage their processes and workflows in an efficient, scalable, flexible, and reliable manner. Among regions, North America is estimated to account for the largest market share in the serverless architecture market in 2018. North American countries are early adopters of the serverless architecture technology. Some of the major vendors operating in this region are Microsoft (US), AWS (US), Google (US), and IBM (US). It is the most developed market in terms of cloud adoption, due to various factors such as standard regulations, advanced IT infrastructure, the presence of a large number of enterprises, and availability of technical expertise. Key players operating in the serverless architecture market include Google (US), AWS (US), IBM (US), Microsoft (US), Oracle (US), CA Technologies (US), Rackspace (US), Alibaba (China), TIBCO (US), Platform9 (US), Syncano (US), NTT Data (Japan), Joyent (US), Iron.io (US), StdLib, Realm (US), Galactic Fog (US), ModuBiz (US), Tarams (US), Snyk (UK), Dynatrace (US), Fiorano Software (US), Manjrasoft (Australia), SixSq (Switzerland), and Twistlock (US). These companies focus on the adoption of various growth strategies, including new product launches, product enhancements, partnerships, and collaborations, to strengthen their positions in the market.

Key Topics Covered

1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Elimination of the Need to Manage Servers, Thereby Reducing Infrastructure Costs 5.2.1.2 Ease of Deployment, Management, and Execution 5.2.1.3 Shift From Devops to Serverless Computing 5.2.1.4 Proliferation of the Microservices Architecture 5.2.2 Restraints 5.2.2.1 Security and Compliance Issues 5.2.3 Opportunities 5.2.3.1 Increasing Adoption of Cloud-Based Applications 5.2.3.2 Emergence of IoT Applications 5.2.4 Challenges 5.2.4.1 Architectural Complexities 5.2.4.2 Concerns With Third-Party Services 5.2.4.3 Operational Complexities 5.3 Industry Trends 5.3.1 Value Chain Analysis 5.3.2 Case Studies 5.3.2.1 Bustle Implemented AWS Lambda to Eliminate the Need to Manage Server Operations 5.3.2.2 Sitespirit Used IBM Openwhisk to Create Picture-Perfect Marketing Materials With the Serverless Media-Library-As-A-Service 5.3.2.3 Relativity Improved the Customer Experience of the Relativityone Cloud-Based Ediscovery Platform With Microsoft Azure Functions 6 Serverless Architecture Market, By Service Type 6.1 Introduction 6.2 Automation and Integration Services 6.3 Monitoring Services 6.4 API Management Services 6.5 Security 6.6 Support and Maintenance 6.7 Training and Consulting 6.8 Others 7 Market By Deployment Model 7.1 Introduction 7.2 Private Cloud 7.3 Public Cloud 8 Market By Organization Size 8.1 Introduction 8.2 Small and Medium-Sized Enterprises 8.3 Large Enterprises 9 Serverless Architecture Market, By Vertical 9.1 Introduction 9.2 Banking, Financial Services, and Insurance 9.3 Telecommunications and It 9.4 Retail and Ecommerce 9.5 Healthcare and Life Sciences 9.6 Government and Public Sector 9.7 Manufacturing 9.8 Media and Entertainment 9.9 Others 10 Serverless Architecture Market, By Region 10.1 Introduction 10.2 North America 10.2.1 United States 10.2.2 Canada 10.3 Europe 10.3.1 United Kingdom 10.3.2 Germany 10.3.3 France 10.3.4 Rest of Europe 10.4 Asia Pacific 10.4.1 Australia and New Zealand 10.4.2 China 10.4.3 Japan 10.4.4 India 10.4.5 Rest of Asia Pacific 10.5 Middle East and Africa 10.5.1 Kingdom of Saudi Arabia 10.5.2 Qatar 10.5.3 United Arab Emirates 10.5.4 South Africa 10.5.5 Rest of Middle East and Africa 10.6 Latin America 10.6.1 Brazil 10.6.2 Mexico 10.6.3 Rest of Latin America 11 Competitive Landscape 11.1 Overview 11.2 Market Ranking Analysis for the Serverless Architecture Market 11.3 Competitive Scenario 11.3.1 New Service/Product Launches 11.3.2 Business Expansions 11.3.3 Mergers and Acquisitions 11.3.4 Agreements, Collaborations, and Partnerships 12 Company Profiles 12.1 Introduction 12.2 Amazon Web Services (AWS) 12.3 Google 12.4 IBM 12.5 Microsoft 12.6 Oracle 12.7 CA Technologies 12.8 Rackspace 12.9 Alibaba 12.10 Tibco Software 12.11 Platform9 12.12 Syncano 12.13 NTT Data 12.14 Key Innovators 12.14.1 Joyent 12.14.2 Iron.io 12.14.3 StdLib 12.14.4 Realm 12.14.5 Galactic Fog IP Inc. 12.14.6 Modubiz 12.14.7 Tarams Software Technologies 12.14.8 Snyk 12.14.9 Dynatrace 12.14.10 Fiorano Software 12.14.11 Manjrasoft 12.14.12 Sixsq 12.14.13 Twistlock

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