According to a new report, published by KBV research, The Global Serverless Computing Market size is expected to reach $56.41 billion by 2031, rising at a market growth of 13.6% CAGR during the forecast period.
The Function-as-a-service (FaaS) segment is leading the Global Serverless Computing Market by Service Model in 2023; thereby, achieving a market value of $32.51 billion by 2031. FaaS empowers developers to deploy and execute discrete functions autonomously, facilitating swift scalability and diminishing operational intricacies. Its pay-as-you-go model ensures cost efficiency, as organizations are charged only for the execution time of their functions. The growing demand for agile application development, microservices-based architectures, and real-time data processing has further propelled the adoption of FaaS. Industries such as e-commerce, finance, and healthcare have particularly benefited from FaaS, leveraging its flexibility to handle dynamic workloads efficiently.
The Small & Medium-sized Enterprises segment is anticipating a CAGR of 14.1% during (2024 - 2031). Serverless architectures enable SMEs to reduce upfront infrastructure investments while offering flexibility to scale their applications as needed. The pay-as-you-go pricing model aligns well with the budget constraints of SMEs, making serverless computing an attractive option for these businesses. Furthermore, the reduced complexity of deploying and managing applications allows SMEs to focus on core business activities and innovation. The rising adoption of cloud technologies, coupled with the escalating digitalization of SMEs, has rendered serverless computing a pivotal facilitator for these businesses to compete effectively within the marketplace.
The Public Cloud segment is generating the maximum revenue in the Global Serverless Computing Market by Deployment in 2023; thereby, achieving a market value of $39.9 billion by 2031. Public cloud providers, such as AWS, Microsoft Azure, and Google Cloud, offer extensive serverless computing services with robust infrastructure, enabling businesses to deploy and scale applications on demand. The pay-as-you-go pricing model allows organizations to optimize costs by paying only for their resources, making it particularly attractive for startups and enterprises with fluctuating workloads.
The IT & Telecom segment is registering a CAGR of 12.5% during (2024 - 2031). The IT & telecom segment benefits from the increasing demand for scalable infrastructure to support advancements like 5G, IoT, and edge computing. Serverless computing enables IT and telecom companies to manage complex networks efficiently, reduce operational costs, and accelerate service deployment. The ability to process data in real-time is particularly critical for this sector, as it supports applications like network optimization, predictive maintenance, and customer service automation. The flexibility and resource efficiency offered by serverless models makes them an essential tool for meeting the growing data demands of the IT and telecom industry.
Full Report: https://www.kbvresearch.com/serverless-computing-market/
The North America market dominated the Global Serverless Computing Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $18,931.5 million by 2031. The Europe market is expected to witness a CAGR of 13.2% during (2024 - 2031). Additionally, The Asia Pacific market is expected to witness a CAGR of 14.2% during (2024 - 2031).
By Service Model
By Enterprise Size
By Deployment
By Industry Vertical
Unique Offerings 
