Serverless computing, or function as a service (FaaS), is a cloud system that handles all server tasks and upkeep. Services like Azure Functions, Google Cloud Functions, and AWS Lambda help developers concentrate on building applications rather than managing servers. This architecture is popular because it boosts agility and scalability. It takes care of server setup, updates, and capacity planning, letting organizations focus on innovation instead of operations. Serverless computing reduces idle costs and allows efficient scaling, making it cost-effective for varying workloads.

Drivers: The serverless computing industry is being driven primarily by the growing demand for operational efficiency and cost reduction across industries. The design enables organisations to seamlessly scale their operations without worrying about the underlying infrastructure, resulting in lower operational expenses and setup time. Furthermore, the use of cloud-based microservices improves serverless computing platforms' ability to manage dynamic applications, resulting in faster deployment and greater operational flexibility. This inherent efficiency of serverless computing is critical for organisations seeking to expedite software development processes and shorten time-to-market, resulting in a significant competitive advantage.

Challenges: The market for serverless computing faces difficulties in handling the complexity that accompanies large-scale implementations. Serverless architecture can make integration and system administration more difficult, particularly when working with complex business applications and legacy systems, even though it streamlines some parts of IT infrastructure. It might get more difficult to retain efficiency while scaling up serverless solutions as businesses expand and their needs change. Better management tools and more defined plans for combining serverless computing with current IT resources are needed by the industry to handle these complexity and guarantee seamless operations.

Market Trends: Recent trends in serverless computing include using advanced technologies like artificial intelligence (AI) and machine learning (ML) with serverless platforms. These integrations boost automation, allowing for better data processing and real-time analytics. There is also a shift towards multi-cloud and hybrid cloud environments, where serverless computing helps with smooth application deployment and management across different cloud platforms. This trend is fueled by the demand for more flexibility and performance optimization from serverless computing.

Furthermore, an increased focus on better security protocols and user-friendly interfaces makes serverless solutions more appealing to businesses that want to protect sensitive data and improve operations.

Amazon Web Services (AWS), Microsoft Corporation, Google, Inc, IBM Corporation, Alibaba Cloud, Oracle Corporation, Red Hat, Inc, Cloudflare, Inc, Tencent Cloud, and SAP SE are just a few of the major market players that are thoroughly examined in this market study along with revenue analysis, market segments, and competitive landscape data.

By Service Model: Based on the Service Model, Global Serverless Computing Market is segmented as; Function-as-a-service, Backend-as-a-service.

By Deployment: Based on the Deployment, Global Serverless Computing Market is segmented as; Public Cloud, Private Cloud, Hybrid Cloud.

By Enterprise Size: Based on the Enterprise Size, Global Serverless Computing Market is segmented as; Large Enterprises, Small & Medium Sized Enterprises.

By End-User: Based on the End-User, Global Serverless Computing Market is segmented as; IT & Telecom, BFSI, Healthcare & Life Sciences, Retail & Consumer Goods, Government & Defense, Transportation & Logistics, Manufacturing, Others.

By Region: This research also includes data for North America, Latin America, Asia-Pacific, Europe, Middle East & Africa.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.