Global Serverless Security Market - 2022-2029

Global Serverless Security Market - 2022-2029

Market Overview

The global serverless security market reached US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period 2022-2029.

The phrase serverless often refers to a cloud computing operational model. Serverless computing is a cloud computing architecture in which the cloud provider maintains the server and dynamically handles the distribution of machine resources. Applications in the serverless architecture rely on managed services, which abstract away the need to manage, patch and secure infrastructure and virtual machines. Serverless applications are built with a mix of managed cloud services and function-as-a-service or FaaS. Popular serverless frameworks for building apps include AWS Lambda Functions, Google Cloud Functions and Azure Functions.

The advantage of a serverless architecture is that it allows for automated, practically unlimited scaling. Serverless represents a further transfer of responsibility from the customer to the cloud provider. The operations overhead is significantly reduced because there is no infrastructure required.

Adopting a serverless paradigm might have several consequences for application development:

Reduced operational overhead: Because there are no servers to operate, developers and DevOps don't have to worry about infrastructure scaling, agent installation and maintenance, or other infrastructure-related tasks.

Increased agility: Because serverless applications rely largely on managed services like databases and authentication, developers can focus on the application's core business logic, likely executing on a FaaS such as AWS Lambda or Google Cloud Functions.

Cost savings: With most services used in serverless apps, the user pays for what they consume.

Market Dynamics

The increased demand for flexible serverless security products and the rise in technological innovations are major market drivers for the global serverless security market. Nevertheless, growing environmental concerns and stringent regulations restrain the market’s growth.

Growing migration to serverless technology

A significant boost has given the serverless market a rise in the agility, storage and speed of delivery of new applications and services. Traditional firms are under enormous competitive pressure as a result of technology improvements. Most firms migrate their old IT infrastructure from on-premises to the cloud and serverless architecture to become faster, more secure and competitive.

For instance, long supply chains create many obscurities, making it difficult to calculate and organize the complete supply process. Blockchain is the greatest option for supply chains because it can unite all stakeholders into a unified supply chain network while retaining transparency and safely breaking down data silos. As a result, there are many blockchain arrangements in the supply chain process, which has accelerated since the COVID-19 epidemic. By eliminating third-party delegates and inherent delays in handling and processing processes, blockchain speeds up the validation procedure.

As a result, several major organizations migrating old data center processes to a serverless environment may encounter insecure configuration, function permissions and event data injection, which increases the need for serverless security.

COVID-19 Impact Analysis

With the advent of remote work and collaboration, cloud computing has emerged as a valuable ally for businesses. The COVID-19 scenario has fueled a surge in demand for cloud solutions. Prior to this outbreak, many firms feared that relocating sensitive data housed in the cloud could be dangerous. Organizations can quickly transfer data to the cloud by embracing BYOD and mobility in a hybrid IT environment thanks to partnerships with AWS, Microsoft Azure, the Google Cloud Platform (GCP) and Alibaba Cloud.

Businesses are increasingly storing vital data in the cloud. However, rising cloud utilization raises security concerns. With the increasing need for the cloud environment, there is an opportunity for cloud security services and solutions to develop. With the introduction of new devices, the risk of data breaches in security and access patterns and processes necessary to govern cloud environments while working from home has increased. Due to the experienced growth in the number of remote workers, the need for security tools also experienced significant growth. As a result, the serverless security market is expected to experience massive growth even post-pandemic.

Segment Analysis

The global serverless security market is classified based on service model, security, deployment mode, organization size, end-user and region.

Growing digitalization in the BFSI sector and a witnessed rise in varied cyber-attacks globally

In the aftermath of the COVID-19 outbreak, banks and financial organizations migrated their data to a serverless environment. With the significant growth of cloud computing and serverless platforms, finance and insurance firms must adhere to the highest security standards mandated by financial regulatory agencies. As a result, financial institutions are expanding their collaborations with serverless security service providers to establish a comprehensive serverless application security environment that meets global and regional regulatory requirements, enabling the BFSI sector to expand extensively and dominate the end-user.

Geographical Analysis

Presence of a highly untapped market with enormous potential due to slower mass adoption of advanced technologies in the region

Emerging Asian-Pacific economies include China, Japan, India, Australia and New Zealand. The serverless security market in Asia-Pacific is predicted to be driven by unexplored prospective markets, increased penetration of modern technologies, a rise in application development in various industries and economic trends and government regulations. Several developments in the Asia-Pacific area regarding technology adoption include BI tools, cloud, analytics and rapid infrastructure development. The region is one of the fastest-growing globally adopting serverless security solutions. According to a survey done by Palo Alto Networks, the top cybersecurity concerns in the region are insecure interfaces and APIs and data breaches and data losses.

Competitive Landscape

The serverless security market is quite active in terms of the number and scope of global and local producers. The industry has been described as fragmented due to multiple manufacturers such as AWS, Microsoft, Google, Palo Alto Networks, Imperva, Aqua Security, Signal Sciences, Rackspace, IBM and Cisco. Mergers, acquisitions, product launches, investments and partnerships are common market strategies employed by major market players to obtain a competitive advantage and boost their reputation.

AWS

Overview: Amazon Web Services, or AWS, is a comprehensive and widely used cloud platform that is exceptionally adaptable and cost-effective. AWS currently supports virtually any cloud workload. AWS now offers over 200 full-fledged services for computing, storage, hybrid, virtual mobile, security and augmented reality (VR and AR), media and application development, deployment, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT) and management from 80 Availability Zones (AZs) across 25 geographic regions. Currently, the organization serves millions of customers, including the fastest-growing startups, largest enterprises and prominent government agencies.

Product Portfolio:

AWS Lambda: AWS Lambda is a serverless, event-driven computing solution to run code for applications or backend services without server provisioning or management. Over 200 AWS services and SaaS applications that use Amazon Simple Storage Service can trigger AWS Lambda (Amazon S3). AWS Lambda data processing started in real-time following an upload or connecting to an existing Amazon EFS file system could offer massively parallel shared access for large-scale file processing.

Key Development:

Thundra, an application observability and security platform, declared on April 28, 2020, that it had earned the AWS Lambda Ready accreditation as part of the Amazon Web Services (AWS) Service Ready Program. Thundra has received this distinction in recognition of its successful integration with AWS Lambda in observability, debugging and security.

Why Purchase the Report?

To visualize the global serverless security market segmentation based on service model, security, deployment mode, organization size, end-user and region, as well as understand key commercial assets and players.

Identify commercial opportunities in the global serverless security market by analyzing trends and co-development.

Excel data sheet with numerous data points of serverless security market-level with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product mapping available as excel consisting of key products of all the major market players

The global serverless security market report would provide approximately 74 tables, 68 figures and almost 200 pages.

Target Audience 2023

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies