Serverless Security Market to grow from USD 1.4 billion in 2021 to USD 5.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 29.9% during the forecast period.
Serverless architectures are prone to several security risks such as event injection, broken authentication, insecure deployment settings, over-privileged function permission and roles, insufficient logging and monitoring, DoS, improper exception handling, and vulnerability management. Hence, the demand for serverless security is quickly gaining traction globally.
By service model, Function-as-a-Service (FaaS) segment to hold the largest market size during the forecast period
FaaS is a type of cloud-computing service (a subset of serverless) that allows developers to run a code in response to events. With FaaS, developers can spend more time writing the application code logic and less time worrying about server allocation, deployments, and backend services. FaaS simplifies the deployment of applications on the cloud. In this, all features of the application are deployed into a single independent feature, and then each feature is individually hosted by the provider. Compared to BaaS, FaaS offers a greater degree of control to the developers who create custom apps rather than relying on a library of prewritten services. AWS (AWS Lambda), Microsoft Azure (Azure Functions), Google Cloud Platform with multiple offerings, and IBM (IBM Cloud Functions) are the major providers of FaaS.
In security type, network security to grow at the highest CAGR during the forecast period
Network security is the technique of securing networks from advanced threats on the serverless architecture. Sophisticated threats are negatively impacting the serverless computing platform by evading network defenses and targeting vulnerabilities in the system. With complex and fragmented hybrid cloud networks, it is impossible for network security teams to cope with the changes. The adoption of the DevOps method has also significantly increased the loopholes as the developers build and deploy applications, often ignoring the security aspects. The key trends that contribute to the serverless network security market growth are the growing usage of cloud computing services and serverless architectures.
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North America to hold the largest market size during the forecast period
North America is home to two developed economies, the US and Canada, that contribute heavily to the growth of the regional market. The region is estimated to have the largest market size in the global market, and the trend is expected to continue until 2026. One of the key reasons for the growth is the early adoption of technologies and the globalization of the cloud in this region. The strong financial position of the US and Canada enables them to invest heavily in leading services of the serverless security market. The regional presence of key industry players offering serverless security solutions is the main factor driving the growth of the North American serverless security industry. The key top serverless security market vendors functioning in the region include Microsoft, AWS, Google, Palo Alto Networks, Imperva, Signal Sciences, Rackspace, Serverless, Cisco, and IBM, among others. The dominance of serverless security market players in North America is expected to drive the overall market growth.
Major vendors in the global serverless security market include AWS (US), Microsoft (US), Google (US), Palo Alto Networks (US), Imperva (US), Aqua Security (Israel), Signal Sciences (US), Rackspace (US), Micro Focus (UK), Serverless (US), IBM (US), Sophos (UK), Cisco (US), Fortinet (US), Oracle (US), Check Point (Israel), Cloudflare (US), Sysdig (US), Deepfence (US), Stackery (US), StackPath (US), Lumigo (US), Thundra (US), Snyk (England), Alcide (Israel).
