MarketInsightsReports has published a report titled global Serverless Computing market research report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances, and different methodologies implemented by the primary current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.
The report also takes into account the impact of the novel COVID-19 pandemic on the Serverless Computing market and offers a clear assessment of the projected market fluctuations during the forecast period.
The global Serverless Computing (SDDC) Market is expected to register a healthy CAGR of over 25% during the forecast period (2021 – 2026).
Advancements in computing technology are enabling organizations to incorporate a serverless environment, thereby augmenting the market. The benefits of Serverless Computing such as unconditional development and deployment, built-in scalability among others are playing an important role in supporting the rapid adoption of Serverless Computing thereby fueling the growth of the market.
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Key Market Trends
Professional Services are Expected to Grow at a Significant Rate
– The digital era has greatly accelerated the change and evolution of new products, services, and business models. Enterprises are facing pressure to release new features and products that meet the growing expectations of customers. Serverless architecture offers significant advantages to SMEs, in terms of flexibility and reduces overall infrastructure cost.
– There have been significant innovations in the enterprise IT space, that has enabled business agility, improved resiliency, thereby driving cost effectiveness. In such scenarios, serverless computing has emerged as a vital element for the deployment of cloud services and applications across the everchanging business environment.
– Moreover, the growth of microservices and serverless computing is fundamentally changing DevOps by blurring the line between development and operations, where organizations are envisioned to scale rapidly in delivering enhanced features through their products and services offering, thereby improving their business values.
– Further, businesses are moving toward cloud services, adding to the existing competition, however, security still remains a major concern among adopters and cloud service providers and are continuously working with cybersecurity vendors to reduce any risk of cyber-attacks.
North America is Expected to Hold the Largest Market Share
– North America is anticipated to capture the largest market share regarding revenue, owing to rapid advancement in technologies and the presence of various prominent players across the industries such as retail, BFSI, manufacturing, healthcare, and IT & Telecom boasting of a large user base across the region.
– Due to high digitalization and high adoption of new cloud computing services by the enterprises to remain competitive in the dynamic market and deliver new features and products quickly, they are constantly innovating and adopting new technologies, thereby fueling the demand of market across the region.
The serverless computing market is moderately competitive and consists of a few major players. In terms of market share, some of the players are currently dominating the market. However, with the advancement in the cloud platform across the professional services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
– March 2019 – Alibaba Group Holding Limited (NYSE: BABA) Cloud unveiled its new strategy to develop the company into a more technologically inclusive platform publicly on the strategic upgrade of the business evolving to serve as a key component of the Alibaba Business Operating System, and empowering customers and ecosystem partners to win in the digital era.
– March 2019 – Amazon.com, Inc. (NASDAQ: AMZN) announced the general availability of Amazon S3 Glacier Deep Archive, a new storage class that provides secure, durable object storage for long-term retention of data that is rarely accessed. S3 Glacier Deep Archive offers the lowest cost storage in the cloud at USD 0.00099 per GB per month that is significantly lower than storing and maintaining data in on-premises magnetic tape libraries or archiving data off-site.
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Key Points of the Serverless Computing market report
– Comprehensive evaluation of all opportunities and risks in the market.
– Serverless Computing market ongoing developments and significant occasions.
– Detailed study of business techniques for development of the market-driving players.
– Conclusive study about the improvement plot of market for approaching years.
– Top to bottom appreciation of market-express drivers, targets and major littler scale markets.
– Favorable impression inside imperative mechanical and publicize latest examples striking the market.
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