Serverless Security Market to Hit USD 15.69 Billion by 2030 due to Increasing Adoption of Serverless Computing Models by Organizations Globally | Research by SNS Insider
With the increasing use of cloud-based applications and data, cybercriminals are developing new and more sophisticated ways to exploit vulnerabilities and steal sensitive information. As a result, organizations are looking for ways to strengthen their security posture and protect their applications and data from these threats.
Pune, March 27, 2023 (GLOBE NEWSWIRE) -- The SNS Insider reported that the size for Serverless Security Market was valued at USD 1.79 billion in 2022, and it is projected to reach USD 15.69 billion by 2030, with a compound annual growth rate (CAGR) of 31.12% during the forecast period of 2023 to 2030.
With serverless computing, your code and data are stored on third-party servers. Therefore, it is critical to ensure that these servers are secure and that your data is protected. Data breaches and other security incidents can damage an organization's reputation. By implementing serverless security measures, organizations can demonstrate that they take their security responsibilities seriously, which can help build trust with customers and partners.
The key driver for the serverless security market is the rapid adoption of serverless computing technology by organizations of all sizes. Serverless computing offers several benefits, including scalability, cost efficiency, and reduced operational overhead. As a result, it has become a popular choice for developing and deploying cloud-native applications. Another key driver for the market is the increasing number of regulations and compliance standards that organizations must adhere to. These regulations often require strict security measures to be implemented, and serverless security solutions can help organizations meet these requirements.
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Key Company Profiles Listed in this Report Are:
Impact of Recession on Serverless Security Market Growth
A recession is likely to have both positive and negative impacts on the serverless security market. While some businesses may delay or cancel serverless security projects, the overall demand for serverless architecture is likely to remain strong. The key for vendors will be to offer cost-effective solutions that meet the needs of businesses looking to cut costs without sacrificing base level margin.
Serverless Security Market Report Scope:
Market Size in 2022
USD 1.79 Billion
Market Size by 2030
USD 15.69 Billion
CAGR 31.12% From 2023 to 2030
Serverless Security Market: Key Segmentation
• By Service Model (Backend as a Service and Function as a Service)
North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Key Regional Developments
North America is expected to dominate the serverless security market during the forecast period. The region's significant market share can be attributed to the presence of major IT businesses, including cloud service providers and technology giants, which are driving the adoption of serverless security solutions. The United States and Canada, two of the largest economies in North America, have a strong financial position and a thriving technology industry, which enable them to invest heavily in leading services of the market. This has led to the development of innovative serverless security solutions that cater to the specific needs of North American businesses.
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Key Takeaway from Serverless Security Market Study
The BFSI industry is predicted to hold a significant share in the market as more and more financial institutions embrace cloud computing and serverless platforms. In response to the COVID-19 outbreak, these institutions are increasingly shifting their data to serverless environments to enhance their digital capabilities and ensure business continuity.
The network security segment is expected to play a major role in the market as it offers protection against cyber threats that can compromise the integrity, confidentiality, and availability of data.
Recent Developments Related to Serverless Security Market
Contrast Security, a leading provider of application security solutions, has recently announced the addition of Microsoft Azure Functions support to its suite of products. With this new integration, Contrast Security aims to provide its customers with enhanced protection against potential security risks in serverless computing environments.
Fauna, a cloud-native database platform, has launched its serverless database solution on the AWS Marketplace. This new offering will enable developers to create modern, scalable applications without having to manage database infrastructure themselves.
Table of Contents
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Serverless Security Market Segmentation, By Service Model
9. Serverless Security Market Segmentation, By Security Type
10. Serverless Security Market Segmentation, By Organization Size
11. Serverless Security Market Segmentation, By Verticals
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
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