According to MarkNtel Advisors, the Global Serverless Security Market is projected to grow at a CAGR of around 25.85% during the forecast period, i.e., 2022-27. The increasing inclination of enterprises across the globe toward cloud computing services has expanded the scope of serverless security in the historical years. With the integration of the serverless model, the applications of an organization depend on the managed services, which secure & manage infrastructure & virtual machines within their in-house premises.
In addition, various organizations, as well as government institutions, are leveraging the benefits of cloud computing, which has augmented the demand for serverless applications, including AWS Lambda, Microsoft Functions, etc. Additionally, serverless applications depend on the integration of function-as-a-service (FaaS) & managed cloud services, therefore rendering the risks associated with data privacy, especially among the regulated industries, such as health, banking, telecom, and others.
Consequently, the companies operating in these industries have realized the need for building secure networks. Hence, with the mounting number of companies choosing the cloud as a preferred platform for operating their applications & storing data, the possibility of security breaches would exist, which is expected to flourish the demand for serverless security solutions across the world during 2022-27, further states the research report, " Global Serverless Security Market Analysis, 2027."
Application Security to Witness Considerable Growth in the Global Serverless Security Market
Based on the deployment, the market bifurcates into Data Security, Network Security, Application Security, Perimeter Security, and Others (Endpoint, Policy Management, etc.). Among them, Application Security segment acquired a notable market share in the Global Serverless Security market during 2017-21. As more & more organizations are investing in building personalized applications with utmost security measures, the demand for serverless security has been observed. The demand attributes to the need for protecting the application functions by deploying security measures around its Application Programming Interface (API). This has been one of the key factors that has heightened the demand for application security on serverless computing. This growth has been further catalyzed by the emerging count of tech startups around the world coupled with the increasing investments poured in by the technology giants to foster the application development process. This has obligated the companies to migrate to cloud architecture to enable instant scalability, and better performance and faster results. Moreover, the deployment of application security in serverless computing enables dynamic scanning across different stages of the application development process to mitigate the vulnerabilities, such as injections, security misconfiguration, code failures, and broken access controls, among others. Thus, with the ongoing trend of utilizing containers on the cloud, serverless computing, etc., the requirement for application security would accelerate in the forecast years.
North America to Grow Substantially in the Years to Come
Geographically, North America has by far dominated the market of serverless security during 2017-21. Within the region, the US has proved to become an enormous technological powerhouse & is one of the most developed markets for advanced technology adoption. Further, the countries, such as the US & Canada have contributed significantly to the demand for serverless security due to their resilient ICT standards & regulations, enterprises utilizing advanced IT infrastructure, and the possession of technical skillset, which have acted in its favor.
Additionally, most organizations across the globe utilize cloud solutions developed by the major cloud solution providers, including AWS, Microsoft, and Oracle, among others, and pour huge chunks of investments towards R&D in the cloud-native architecture, which has standardized the application development approach to streamline the operational process.
Due to this, companies across the region have been proactively adopting serverless architecture for developing software solutions without the hassles of managing high-cost IT infrastructure. Moreover, the robust ecosystem for startup incubation in the region is expected, to further channel the market growth & provide lucrative revenue opportunities for serverless security during the forecast period, reveals MarkNtel Advisors in their research report, " Global Serverless Security Market Analysis, 2027."
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Global Serverless Security Market are Amazon Web Services (AWS), Google LLC, Cisco, Microsoft Azure, Check Point Software Technologies Ltd., Fastly, Inc., Palo Alto Networks, Inc., Deepfence, TrendMicro, Rapid7 (Alcide), Stackery, Micro Focus, Imperva, Signal Sciences, LLC, Aqua Security Software Ltd., and Others (Sysdig, Snyk, etc.).
Key Questions Answered in the Study