Serverless Apps Market Size

Serverless Apps Market size was over USD 11.26 billion in 2023 and is projected to exceed USD 175.07 billion by 2036, growing at over 23.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of serverless apps is evaluated at USD 13.38 billion. The growth of the market can be attributed to primarily to the growing adoption of serverless architecture among organizations as it helps in removal of expensive time-consuming approaches, such as purchasing new hardware component, installing, configuring, and troubleshooting. Along with this, rising need to eliminate management of servers, and escalating emphasis on serverless computing from DevOps are also expected to drive market growth significantly in the upcoming years. Furthermore, increasing implementation of cloud technologies, and emergence of serverless apps in expanding IoT landscape are projected to offer lucrative opportunities to the serverless apps market in the near future. As of 2020, more than 15% of large enterprises invest about USD 10 million annually on public clouds, up from just 5% in 2019. Whereas, about 75% of companies spend about USD 1 million every year on the same.