North America Serverless Security Market By Service Model (Function as a Service (FaaS) and Backend as a Service (BaaS)), By Enterprise Size (Large Enterprises and Small & Medium Enterprise), By Deployment Mode (Public and Private), By Security Type (Data Security, Network Security, Application Security, Perimeter Security, and Others), By End User (BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Media & Entertainment, Energy & Utility, Manufacturing, and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Serverless Security Market would witness market growth of 25.2% CAGR during the forecast period (2021-2027).
Serverless models shift considerable responsibilities from the owner of the application to the platform which also includes some major security responsibilities. Moreover, serverless is the natural evolution of cloud computing in which companies deploy Rackspace of cloud vendors with an aim to increase their computing power. However, with any latest technology, specifically an advanced one, serverless computing also brings different technological risks.
The presence of big giants operating in this region such as AWS, Google, Microsoft, and IBM would accelerate the market growth. Along with that, increasing R&D investments in the cloud-native architecture contributed to the standardized application development approach to simplify companies’ operational processes. The increasing demand for serverless security services among the companies is fueling the growth of the regional market. Furthermore, North America is among the most developed market in terms of cloud adoption, owing to various aspects like advanced IT infrastructure, standard regulations, the presence of several large enterprises, and accessibility of technical expertise.
The high adoption of a wide range of advanced technologies by the companies in this region is among the major factor surging the growth of the regional serverless security market over the forecast period. In addition, the increasing importance of securing the network from various malicious activities or cyberthreats is supporting the demand for serverless security solutions in this region. Further, as digitalization is at peak, companies are majorly shifting towards the adoption of solutions to secure their applications, network, and others from cybercriminals.
Moreover, the presence of several key companies operating in this region is among the key aspect fueling the growth of the serverless security market in this region. However, the availability of various advanced solutions may hamper the demand for serverless security solutions in this region. But the introduction of better and improved serverless security solutions by the key vendors would accelerate the growth of the regional market in the coming years.
The US market dominated the North America Serverless Security Backend as a Service (BaaS) Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $414.5 million by 2027. The Canada market is experiencing a CAGR of 30.9% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 29.8% during (2021 - 2027).
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 Enterprise. Based on Deployment Mode, the market is segmented into Public and Private. Based on Security Type, the market is segmented into Data Security, Network Security, Application Security, Perimeter Security, and Others. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Media & Entertainment, Energy & Utility, Manufacturing, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Serverless Security Market is Estimated to Reach USD 5.7 Billion by 2027 at a CAGR of 27%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Rackspace Technology, Inc., Fastly, Inc., Amazon.com, Inc., Palo Alto Networks, Inc., Microsoft Corporation, Google, Inc., Micro Focus International PLC, Imperva, Aqua Security Software Ltd. and Serverless, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Service Model
- Function as a Service (FaaS)
- Backend as a Service (BaaS)
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprise
By Deployment Mode
By Security Type
- Data Security
- Network Security
- Application Security
- Perimeter Security
By End User
- IT & Telecom
- Retail & eCommerce
- Media & Entertainment
- Energy & Utility
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Rackspace Technology, Inc.
- Fastly, Inc.
- Amazon.com, Inc.
- Palo Alto Networks, Inc.
- Microsoft Corporation
- Google, Inc.
- Micro Focus International PLC
- Aqua Security Software Ltd.
- Serverless, Inc.
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