The 2023 report on the “Serverless App Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Serverless App Market is valued at approximately USD 7.39 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 23.85% over the forecast period 2022-2029. Serverless App is an interface where servers are used by cloud service providers to execute code for developers on behalf of their customers. The Serverless App market is expanding because of factors such as the Increasing adoption of cloud serverless architecture across various platforms and low data processing development and operational costs. However, Technical issues regarding third-party access may halt its growth. Although the growing demand for mobile-based applications and technological advancement has many futuristic opportunities.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to Eurostat in 2020, 36% of Europe enterprises used cloud computing services and in 2021 the rate reached 41%. Furthermore, geriatric, and obese populations are predisposed to chronic diseases. The public cloud market saw end-user spending of about 410 billion U.S. dollars in 2021 and is expected to grow to approximately 600 billion U.S. dollars by 2023.
Alibaba Cloud Function, is an integrated event-driven computer service that allows user to focus on writing and uploading code without managing the network infrastructure. While Amazon web service comes up with Serverless Neptune, which automatically grows support for crucial business databases. However, the technical issues regarding third-party involvement may stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Serverless App Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North American region is dominating since the global IT services business market is worth more than one trillion U.S. dollars annually. With United states of America forecast worth 555 billion dollars of revenue for 2021. Moreover Asia Pacific region is estimated to be the fastest growing market, exhibiting a CAGR of around 22.5% due to increasing adoption of advanced technologies, and rising development of applications based industries in the region . According to the CDC Global mobile application user reached 230 billion by 2021 and are expected to increase by 547 billion dollars by 2029.
Major market players included in this report are:
Amazon Web Services, Inc.
Microsoft Corporation
Google LLC
International Business Machines Corporation
Oracle Corporation
Alibaba Cloud
Fiorano Software and Affiliates
NTT DATA Corporation
Dynatrace LLC
Broadcom Inc
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Recent Developments in the Market:
In October 2022, Amazon Neptune Serverless, a new serverless option for Amazon Neptune that automatically grows support for crucial business databases, was unveiled by Amazon Web Services. It is a quick, dependable, and completely managed service that facilitates the development and execution of applications that require info graphs to effectively store and query intricate and intricately connected datasets.
In October 2022, the Oracle Cloud World rollout includes new serverless options. It includes advanced virtual nodes capability for the Oracle Kubernetes Engine (OKE) managed services including workflow orchestration.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Real Time File/Stream Processing
Web Application Development
IoT Backend
Others
By Enterprise Size:
SMEs
Large Enterprises
By Industry:
IT and Telecommunication
BFSI
Retail
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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