SERVERLESS ARCHITECTURE MARKET TO REACH USD 16.4 BILLION BY 2024 | CAGR 27.7% – FORENCIS RESEARCH

Global Serverless Architecture Market: Key Highlights

• According to the new market research report “Serverless Architecture Market by Solution (Functions as a Service (FaaS), Serverless Databases and Storage, Event Streaming and Messaging and Application Program Interface (API) Gateways), By Technology (Cloud and On-Premises), By Application (Serverless and Microservices, Application Program Interface (API) Backends, Massively Parallel Compute Operations, Data Processing and Stream Processing Workloads), By Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2019 to 2024)”, the global Serverless Architecture Market is estimated to reach USD 16.4 Billion by 2024 at a CAGR of around 27.7% during the review period.
• Increasing demand for the cloud based technology where cloud helps to runs the server as well as manages the machine resources allocations which may driving the demand for serverless architectures.
• However, error detection remain a major restraining factor for the growth of the serverless architecture market

Global Serverless Architecture Market: Key Market Dynamics

• Advancing fault tolerance technology which provide fastest delivery value and security which may increase the market growth.
• Rising demand for cloud technology help to improve serverless backend of the companies for processing the entire data is a key factor driving the demand for serverless architecture market.
• Advancing fault tolerance technology witness to reduce the engineering complexity. Hence, Amazon Web Services gives a platform that are used to develop the software.
• Increasing performance for financial services will helps to increase the customer acquisition and financial products which will lead to improve the performance of the market.
• High adoption in micro-services helps in preventing the fault isolation, deployment and development and also manage the code-based seamlessly which is anticipate to rise the demand of the forecast market.
• Lead to enhanced the scalability, performance and reduce cost of the user which is witness to the major factor to surge market growth.

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Global Serverless Architecture Market: Regional Overview

• Asia-Pacific:

According to the National Policy of Electronic, India is a global player in the field of software and software services field. As per the International Trade Administration, in 2017 China information and communication technology (ICT) imports reaches USD 528 Billion whereas, the export is reach by USD 781 Billion.

Furthermore, China is one of the fastest and largest growing country in the field of U.S semiconductor and also in manufacturing of the equipment.

• Europe

The emerging technology offer a new range of advantage to the European industry to expand its products and services in the market. The Germany is a world leader in the field of technology, innovation and engineering sectors. According to the European Commission, the Spanish company develop a modify software as well as artificial intelligence for huge range of sector. Moreover, the region operational technology is also witness to grow with a faster rate which will surge the demand of the market in the region.

Global Serverless Architecture Market: Key Players Overview

• Microsoft Corporation:

Microsoft is a multinational company which sells computer software, consumer electronics and computers. The company provides software products which includes Microsoft Office Suite, Microsoft Windows and the Internet Explorer. The serverless architecture solution are cost effective and improve the productivity of the business. The company on 2019 started providing Serverless for the enterprise with the Microsoft Azure to increase productivity and scale of the business.

• Amazon Web Services, Inc.:

Amazon Web Services, Inc. is a multinational company based on cloud computing, e-commerce, artificial intelligence and digital steaming. This architecture to use to run and build application and services without managing the infrastructure. Its enables the modern features with low cost and high agility. Also its helps to reduce overall time and the energy which can be used in innovating other product and services.

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