Global Serverless Computing Market Size Study, by Service Model (Function as a Service, Backend as a Service), Compute (Functions, Containers), Database (Relational, Non-relational), Storage, Application Integration, Monitoring & Security, and Regional Fo

Global Serverless Computing Market Size Study, by Service Model (Function as a Service, Backend as a Service), Compute (Functions, Containers), Database (Relational, Non-relational), Storage, Application Integration, Monitoring & Security, and Regional Forecasts 2022-2032

The global serverless computing market is valued at approximately USD 18.99 billion in 2023 and is projected to grow at a robust CAGR of 15.3% over the forecast period 2024-2032, reaching USD 68.39 billion by 2032. Serverless computing offers unparalleled scalability, operational efficiency, and cost savings, allowing organizations to innovate faster by focusing on application development instead of managing infrastructure.

Key drivers of market growth include increasing adoption of AI and machine learning technologies, growing demand for scalable cloud solutions, and a surge in digital transformation initiatives across industries. Backend-as-a-service (BaaS) is anticipated to witness the highest CAGR within the service model segment, enabling developers to streamline backend operations effectively. Additionally, the IT & telecom vertical holds the largest market share, leveraging serverless architectures for real-time data processing, network function virtualization, and content delivery.

Asia Pacific is expected to grow at the fastest CAGR during the forecast period, driven by rapid cloud adoption, digital infrastructure investments, and supportive regulatory environments in countries like China, India, and Japan.

Major market players included in this report are:
• AWS (US)
• Microsoft (US)
• IBM (US)
• Google (US)
• Oracle (US)
• Alibaba Cloud (China)
• Tencent Cloud (China)
• Twilio (US)
• Cloudflare (US)
• MongoDB (US)

The detailed segments and sub-segment of the market are explained below:

By Service Model:
• Function as a Service (FaaS)
• Backend as a Service (BaaS)

By Compute:
• Functions
• Containers

By Database:
• Relational
• Non-relational

By Application Integration:
• APIs
• Messaging Queues

By Monitoring & Security:
• Performance Monitoring
• Security Management

By Deployment Mode:
• Public Cloud
• Private Cloud
• Hybrid Cloud

By Industry Vertical:
• Banking, Financial Services, and Insurance (BFSI)
• IT and Telecom
• Healthcare and Life Sciences
• Retail and E-Commerce
• Media and Entertainment
• Manufacturing
• Government and Public Sector

By Region:
• North America
U.S.
Canada
• Europe
UK
Germany
France
Spain
Italy
Rest of Europe
• Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
• Latin America
Brazil
Mexico
Rest of Latin America
• Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Demand-side and supply-side analysis of the market.

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