Market Definition
Serverless security refers to the security measures taken to mitigate security breaches on a serverless computing architecture. Serverless computing is a cloud-computing model which eliminates the hassle of managing on-premise IT infrastructure. The cloud provider runs the server & dynamically manages the allocation of machine resources. With the rapid adoption of serverless computing globally, there have been emerging risks of cyber-attacks on serverless applications.
Therefore, organizations involved in application development rely on serverless computing to save costs & time. Further, with the deployment of serverless security systems, the organization ensures that serverless functions are secured & are in regulatory compliance.
Market Insights
The Global Serverless Security Market is projected to grow at a CAGR of around 25.85% during the forecast period, 2022-27. With the ever-changing landscape of computing, serverless computing has managed to gain notable traction in the historical years. As more & more organizations across the globe are adopting serverless computing for easing the coding process, the requirement for serverless security has emerged as the need of the hour. The usage of serverless computing speeds up the time-to-market process and makes it easier to maintain & test individual functions over the serverless architecture. Moreover, with the increasing adoption of cloud services for application/website development & writing codes, the demand for serverless security has flourished considerably during 2017-21. Additionally, the increasing rate of misconfiguration in data analysis & security software has established a firm need for protecting applications in the serverless computing environment. This has augmented the need for serverless security in the enterprise.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 25.85% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Argentina, Rest of Latin America | |
| Europe: Germany, The UK, France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific | |
| Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa | |
| Key Companies Profiled | 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, Others |
| Unit Denominations | USD Million/Billion |
Further, the major players in the serverless security market have provided security solutions for the key serverless computing platforms, such as Amazon Web Services (AWS) Lambda, Microsoft Azure Functions, and Oracle Cloud Functions, among others which have successfully exposed the vulnerability of the platforms, and have led the consumers to deploy serverless security on the platforms. Hence, it is anticipated that with the growing incorporation of serverless computing across the globe, the demand for serverless security would heighten in the upcoming years.
Key Trend in the Market
Containers are a lightweight virtualization architecture that enables the user to deploy individual applications in an isolated environment. The increasing use of containers as a platform for writing codes & building applications has been gaining momentum in the historical years. Additionally, it allows the user to maintain environment uniformity as application code moves down the delivery chain & switches applications quickly between different host servers.
Further, it also retains the ability to migrate workloads between on-premises & the cloud & has ongoing services available to it. Therefore, the coders & developers have been inclining toward containers. Consequently, the application of serverless security for protecting container architecture would bring new remunerative opportunities in the upcoming years.
Impact of COVID-19 on the Global Serverless Security Market
With the emergence of the COVID-19 pandemic in 2020, organizations of different sizes adopted remote working cultures via cloud platforms. This led to a significant rise in the demand for cloud-based applications, websites, portals, and collaborative communication platforms, among others. Subsequently, the workload for developing a new cloud platform & integrating services into their existing working business applications surged drastically.
Therefore, the coders & software engineers migrated to serverless computing for faster development of software & retrieval of data over the cloud. Furthermore, with the embracing trend of Bring Your Own Device (BYOD) & mobility across hybrid IT environments, many organizations sought to migrate data to the cloud. However, the mounting adoption of cloud computing also posed security challenges as the usage of new devices rapidly surged while working remotely.
Hence, this heightened the demand for serverless security globally to maintain a secured networking environment. Further, the growing trend of working from anywhere is expected to provide profitable opportunities in the upcoming years.
