The Serverless Computing Market was valued at USD 19.30 billion in 2023 and is expected to reach USD 70.52 billion by 2032, growing at a CAGR of 15.54% from 2024-2032.

The Serverless Computing market is reshaping how businesses develop and deploy applications by eliminating the need to manage underlying infrastructure. Serverless computing, also known as Function-as-a-Service (FaaS), allows developers to focus solely on writing code while cloud providers handle the infrastructure, scaling, and maintenance.

Key drivers for the serverless computing market include cost-efficiency, scalability, and faster time-to-market. Businesses only pay for the actual execution of code, significantly reducing operational costs compared to traditional server-based models. Furthermore, the auto-scaling feature ensures that applications can seamlessly handle varying workloads without manual intervention.

Industries such as e-commerce, healthcare, and finance are increasingly adopting serverless architectures for tasks like real-time file processing, chatbot development, and IoT backends. Despite challenges like cold-start latency and vendor lock-in, advancements in multi-cloud and hybrid serverless solutions are mitigating these issues. With the growing demand for agile and efficient development practices, the serverless computing market is set to expand significantly.

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