Theglobalserverless architecture market is expected to grow at a CAGR of 26.14%during the forecast period. Based on the end-user, the global serverlessarchitecture market has been segmented into BFSI, government,telecommunication, healthcare, retail, media and entertainment, and otherend-users.
Serverless architecture platformsprovide a new way to handle common use cases that were not well-served byearlier cloud delivery models such as IaaS and Platform-as-a-Service.Serverless architecture helps developers to deploy applications that auto scalein response to unpredictable or highly variable demand. This reduces developers’operational burden, improves productivity and velocity, and reduces costbecause of the pay-per-fraction-of-a-second billing model.
Need for this efficient billing modelfrom the constantly evolving BFSI sector provides a huge growth opportunity tothe serverless architecture market. This is because serverless architecture canmake banking process faster and efficient, thus helping developers with afast-paced agile platform. Growing demand for scale, and resilience fromfinancial institutions is increasing their requirement for servers, which inturn is driving the growth of the global serverless architecture market duringthe forecast period.
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