The Latin America, Middle East and Africa Serverless Computing Market would witness market growth of 15.9% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Serverless Computing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,295.4 million by 2031. The Argentina market is showcasing a CAGR of 16.6% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 14.7% during (2024 - 2031).
Another key driver of the serverless computing market is its inherent cost efficiency. Unlike traditional server-based models, where resources are often underutilized during off-peak periods, serverless architectures operate on a pay-as-you-go model. Businesses are billed only for the compute resources consumed during the execution of functions, with no charges for idle time.
Moreover, this pricing structure significantly reduces operational costs, making serverless computing particularly attractive for startups, small and medium-sized enterprises (SMEs), and organizations with variable workloads. By eliminating the need for upfront investments in infrastructure, serverless computing lowers the barrier to entry for businesses looking to leverage cloud-based solutions.
In Brazil, the e-commerce sector is undergoing significant expansion, driven by the growing accessibility of the internet and the emergence of a burgeoning middle class. According to the ITA, the sector is expected to surpass $200 billion by 2026, growing at an annual rate of 14.3%. Serverless computing solutions are becoming essential for e-commerce platforms to handle massive spikes in traffic during major sales events like Black Friday. These solutions ensure platforms remain functional and responsive during peak demand, enhancing customer satisfaction and driving sales in one of Latin America's largest e-commerce sectors.
Free Valuable Insights: The Worldwide Serverless Computing Market is Projected to reach USD 56.41 Billion by 2031, at a CAGR of 13.6%
Based on Service Model, the market is segmented into Function-as-a-service (FaaS), and Backend-as-a-service (BaaS). Based on Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium-sized Enterprises. Based on Deployment, the market is segmented into Public Cloud, Hybrid Cloud, and Private Cloud. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing, Government & Defense, Transportation & Logistics, and Other Industry Vertical. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Service Model
By Enterprise Size
By Deployment
By Industry Vertical
By Country
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