While the serverless architecture market is expected to witness stagnant near-term growth on account of the complexities of deploying serverless architecture and enterprises’ heavy reliance on tech vendors, the extensive penetration of cloud computing services and cost benefits linked with cloud infrastructure results are anticipated to escalate the market growth by 2032, said researchers at Global Marker Insights. The research firm expects the serverless architecture market to grow from its current market value of more than $9 billion to more than $90 billion by 2032. Considering the services segment of the market, the API management service segment is expected to exhibit 25 percent growth rate during 2023 to 2032. The growth can be attributed to the service’s ability to reduce the internal complexity and time taken to run the microservices, said the research firm. Based on the deployment model, the hybrid deployment model will demonstrate a 26 percent growth rate during the estimated timeframe. “Better support for a remote workforce, improved scalability and control, reduced costs, increased agility and innovation, business continuity, improved security, and risk management are some of the key factors expected to transform the segment outlook over the forecast period,” said GMI. Based on organization size, the SME segment is slated to witness massive growth through 2032, owing to the increasing adoption of cloud computing by SMEs. Cloud Migrations Deliver Serverless Architecture Market to Surpass $90B By 2032 Source: Global Market Insights SERVERLESS ARCHITECTURE MARKET Source: Viavi Solutions What is the average product mix of your WAN sites? GLOBAL STATISTICS Automation & Orchestration Segment Share (2032) (2022) CAGR (2023-2032) Value in 2023 Private Deployment Model CAGR (2023-2032) Large organizations Segment Share (2022) >23.5% >$9 BN >25% >$90 BN >27.5% >66% Global Market Insights e? 2026 2027 o 100%) % s? Little/no impact 26% Little/no impact 22% Little/no impact 26% t 41% 45% 38% 39% 3% 17% 1% 16% CLOUD COST SAVINGS CLOUD COST BENEFITS No, below predictions Matched predictions Yes, savings greatly exceeded predictions Yes, benefits greatly exceeded costs Yes, somewhat exceeded predictions 80% 70% VIRTUAL REALITIES The acceptance of cloud for application and service hosting reported in this year’s “State of the Network” report from Viavi Solutions appears to be completely justified based on respondents’ feedback regarding cost savings and benefits. As much as 80 percent stated actual cost savings of migrating to the cloud either somewhat or greatly exceeded predictions. Meanwhile, 83 percent responded that predicted benefits of cloud migration outweigh the transition and ongoing costs. Only one respondent out of 308 was negative about cloud. Source: Global Market Insights SERVERLESS ARCHITECTURE MARKET Source: Viavi Solutions What is the average product mix of your WAN sites? GLOBAL STATISTICS Automation & Orchestration Segment Share (2032) (2022) CAGR (2023-2032) Value in 2023 Private Deployment Model CAGR (2023-2032) Large organizations Segment Share (2022) >23.5% >$9 BN >25% >$90 BN >27.5% >66% Global Market Insights 2026 2027 00%) Little/no impact 26% Little/no impact 22% Little/no impact 26% 41% 45% 38% 39% 3% 17% 1% 16% CLOUD COST SAVINGS CLOUD COST BENEFITS No, below predictions Matched predictions Yes, savings greatly exceeded pr dictions Yes, benefits greatly exceeded co ts Yes, somewhat exceeded predictions 80% 70% 60% MPLS DIA 18 CHANNELV ISION | MARCH - APRIL 2023
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